friday's trade

here is another trade opened from friday.

Interesting article.

sorry for not posting lately.

been rather busy with school work.

erm, actually, i shall not lie to you.

i was just lazy.



interesting article posted in forex factory.

http://www.forexfactory.com/news.php?do=news&id=104122



i also closed a trade based on a new strategy i discovered.

still testing it out.

see if u can spot the tools i used and what triggered me to open the position.



if u can see it, great.
if u don't too bad.
however, if u would like to know what is it exactly,
leave a comment.
the reason i'm not posting it is because i haven't tested it out properly.
i don't wish to introduce a strategy to you and make you lose money.
ok. the truth is, i don wish to be blamed for your loses.

EUR/USD Resistance breached.

and i'm short @ 1.4779

TP - 1.4685

SL - 1.4825

I followed IFR markets on this one.

u can get it from FXgame and in the platform, go to news.

Not moving

EUR/USD & USD/CHF have not been moving much since yesterday.
Trapped in a tight range, could they be waiting for CPI and Unemployment Claims?
Seems like everyone is into selling any currency against usd and buying usd against any currency, which seemed not to work for German GDP and EUR CPI earlier today.
I'm kinda expecting USD to take a break from the bulls, drop a li'l and range for awhile though before moving up again as EUR/USD has been bouncing off a support which acted as a resistance in 11/07 and 01/08


Then again, i might be wrong.
Whatever it is, just follow the market.

USD Long positions take note

the trend of USD bulls might be ending soon as macd divergence has been noted on 4hr of several currency pair. this is not to say that u should short usd now but u might wanna close your longs as macd divergence do mean a stop of a trend but not necessary a change of direction.


EUR/USD MACD Divergence.

GBP/USD MACD Divergence

USD/CHF MACD Divergence

USD/JPY MACD Crossover

Trades

i closed all my positions.

total loss - 179.95SGD

Trade ideas for today.

EUR/USD - Short @ 1.49667 - stopped out @ 1.51, loss 61SGD
TP - open
SL - 1.51

GBP/USD - Short @ 1.91686 - stopped out @ 1.922, loss 36SGD
TP - open
SL - 1.922

USD/CHF - Long @ 1.08306 - stopped out @ 1.079, loss 26SGD
TP - open
SL - 1.079

USD/JPY -Long @ 110.090
TP - open
SL - 109.6

GBP/JPY - Short @ 211.029
TP - open
SL - 211.7

EUR/JPY - Short @ 164.792 - stopped out @ 164.7, profit 6SGD
TP - open
SL - 164.7 shifted from 165.2

EUR/USD - Short @ 1.49667
TP - open
SL - 1.51

GBP/USD - Short @ 1.91686
TP - open
SL - 1.922

USD/CHF - Long @ 1.08306
TP - open
SL - 1.079

USD/JPY -Long @ 110.090
TP - open
SL - 109.6

GBP/JPY - Short @ 211.029
TP - open
SL - 211.7

EUR/JPY - Short @ 164.792
TP - open
SL - 165.2

Trade ideas for today.

EUR/USD - looking for short signal on 1hr

GBP/USD - looking for short signal on 1hr

USD/CHF - looking for long signal on 1hr

USD/JPY -
Long @ 110.090
TP - open
SL - 109.6

GBP/JPY - looking for short signal on 1hr

EUR/JPY - looking for short signal on 1hr

Step 1

Alright.
you are new and you need to know the basics.
i'm not gonna teach u anything here. cos i feel that i'm not up to it.
but i'm gonna show you where i got my info from.
like i said, you can get information about forex for free.
so i'm gonna link you to where i get those information.

babypips.com is the perfect place to learn about forex trading.
if u don't like cute cartoons, try saxo education.

A successful trader requires lots of patience and discipline.
this shall be your first test.
if you can't be patient and discipline yourself to finish reading everything, you can forget about trading.


Pre-school
Forex Basics
ELEMENTARY SCHOOL
Kindergarten
Types of charts
1st Grade
Japanese Candlesticks
2nd Grade
Support and Resistance, Trend Lines, and Channels
3rd Grade
Fibonacci
4th Grade
Moving Averages
5th Grade
Common Chart IndicatorsBollinger Bands, MACD, Stochastics, RSI, and Parabolic SAR
MIDDLE SCHOOL
6th Grade
Oscillators and Momentum Indicators
7th Grade
Important Chart Patterns
8th Grade
Forex Pivot Points
HIGH SCHOOL
9th Grade
Multiple Timeframes
10th Grade
Elliott Wave Theory
11th Grade
Create Your Own Trading System
12th Grade
Market Hours - Know When to Trade
13th Grade
Money Management
14th Grade
Plan Your Trade and Trade Your Plan
COLLEGE

Multiple Trading Personality Disorder

Trading News

Market Sentiment

U.S. Dollar Index

Carry Trade

The Lazy Forex Trader's Way to Riches

Be a Forex Trader, Not a Forex Sucker

The Number One Cause of Death for Forex Traders

Commodity Currencies

Currency Crosses

Divergence Trading

once you are done reading EVERYTHING, proceed to step 2.

the only place where success comes before work is the dictionary.
even if you want your money to work for you,
you need to put in effort to learn how to do it.

Step 2

Now i suppose you know what forex is all about and you are ready to trade.
not yet.
now you are ready to game trade.
that means trading on a game account.
no money involved.
is there such thing?
yes.

fxgame

FXGame is the practice version of FXTrade, OANDA's currency trading platform. Trade under real market conditions with real prices and spreads, for as long as you want.
Familiarize yourself with forex trading at no financial risk. Register and start trading in minutes.

Why Try FXGame?
It's free to use
Your FXGame account never expires
Use a fully functioning, real-time version of the FXTrade platform
Access news, analysis tools, technical charts and much more.
It's hassle-free. No pressure, no spam, no phone calls.
Are you new to forex trading and want hands-on learning with no pressure? Or are you an experienced trader needing to test strategies in a risk-free environment? Whatever your reason, an FXGame account is a risk-free alternative. Discover how it can make a difference to your trading style.


Trade for as long as you wish, without making a loss.
continue game trading until you are consistent, may take as long as 6 months or more, before trading with real money.


pls proceed to step 3 for trading strategies.

Step 3

now that u got you game account all set up, i'm gonna show you where you can get your strategies from.

Forex Factory Forums, strategies page.

I personally use this to trade.

the key to the mint

I use that on almost all currencies.
i use 4hr graph as the main trend and 1hr graph for my signals.
eg. 4hr graph gives a buy/sell signal. i will wait for a buy/sell signal from the 1hr graph.
close trades when opposite signal is given on 1hr graph.
no trade if both graphs give different signal.

we are here to make money. not gamble.
its better to miss a good trade than to enter a wrong one.

Pls proceed to step 4 for some very useful links

Step 4

useful links.

http://www.forexpeacearmy.com/ - join to recieve daily news trading signals. free. visited everyday

http://www.fxstreet.com/ - very useful articles and analysis.

http://www.forexfactory.com/ - i use their calender and read their forums. visited everyday

http://www.investopedia.com/articles/forex/ - useful articles as well.

http://www.babypips.com/ - free forex education.

Once you are ready to trade, proceed to broker selection.

Broker Selection

This is your final step.

after learning about forex, its finally time to trade with real money.

broker reviews are here - http://www.forexpeacearmy.com/public/forex_broker_reviews

i use saxo capital markets cos they are MAS regulated.
list of mas regulated companies - http://www.mas.gov.sg/fi_directory/index.html
i am not recommending any brokers for trading. which broker to use is up to you.
however, if the broker has an office in singapore and you are a singaporean makes things alot easier.