Introduction to Forex Journey

Everyone must start from scratch in Forex. Some people may have the advantage in certain way but we are all equal in the land of forex.

In the beginning, most of you will try out different system and indicators. This is the process of learning. Some people may have up to 20 indicators on screen but in the end those indicators will be cut down to maybe just 3-5.

This happen because the human brain is the best processor there is. With experience we will learn the behaviour of forex and reduce the need for indicators. I have a few friends that finally develop their own trading system and they are profitable up till today. How do i know they are in profit? That is because they have been trading forex for more than a year now.

In forex there a lot of indicators available on the internet. In order for you to create your own trading system, you must understand that less is more. The less indicators you use the easier it is to trade. Lets start on how I created my own trade system.

Of all the indicators that you have tested, take the best 5 and list them down from the best to the worst. Load all the indicators on screen. Look at how the interect with each other. The best indicator is your main signal. This where your buy or sell decision comes from. Your 2nd best indicator is your filter. 3rd your target entry or exit. 4th trend indicator.

Personally nowdays i need only 1 indicator if im scalping. The most simple system is the best. In order to do long term trade i need a few indicators since finding the best entry point is a bit tricky. Below are the list of indicators im using. Maybe could give you some ideas:
  1. William %R
  2. MACD
  3. EMA
  4. Kijun Sen

Those are my indicators. Only 4 listed from best to worst. Btw William %R is a really good one if you know how to use it. Happy trading

Importance of Fundamental announcements in currency trading market

Importance of Fundamental announcements in currency trading market - Just like a space craft going to be launched requires a fire thrust to launch into air, the same way the forex trading market requires the fuel of fundamental news and announcement. Many of the times you must have seen that market is range trading meas the currency pair price is bouncing between a support and resistance line..

The Missing Element

When it is all said and done currency trading is all about the human element and all too often this is the missing element when it comes to Forex training. The human element consists of two components each trader must completely understand:

1. Others traders in the market

2. Themselves

Price bars and candlesticks are merely graphical representatives of supply and demand of the market. And what or rather who is the market? Other traders! Whether they sit in a skyscraper in New York, an brokerage office in London or like me, a home office in Phoenix, the market is nothing more than other traders.

Understanding who these traders are, how they react to events and their potential impact on the marketplace is crucial. This is why we caution our student around market opening times and the impacts of news events.

The other, and more overlooked factor in the human element is us. In my prior life as a consultant, my job was to go into a company and address specific challenges. The most difficult component of my position was to collaborate for change when the company would not. Fear of change is a power human element.

It is difficult for each of us traders to take a critical look at who we are, understand our strengths and admit to our weakness, so that we can set a course to success. Self-Mastery is necessary for all traders to make that critical leap in their personal learning curve.

Forex Journey integrates all the components of creating and maintaining a results-orientated trading system by teaching self-mastery skills side-by-side with Forex strategy and money management techniques.

As a Success Coach to Traders and Entreprenueurs and Certified Hypnotist, I deal with self-mastery skills on a daily basis and can ensure you mastering yourself will not only improve your trading, it will improve your life!

Happy Trading!!

Forex Journey Website is Here!!

We hit the switch and Forex Journey Currency Training Webiste is Live!!

WHAT MAKES US DIFFERENT?

There is good Forex training and there's not so good currency training. I have seen it all. I am no different than most of you who got interested in trading the Forex market while deeply involved in another, unrelated career.

I did not learn at a broker, I learend from the environment I currenlty trade in today - home! Through books, seminar and online education, but mostly trial and error. There are hundreds, if not thousands of strategies out there for this market. Believe it or not most are generally good and just a derivative of basic trend-following or range-bound strategies.

So then, why is the failure rate of currency traders somewhere north of 90%?The answer lies with each individual trader! Forex trading, trading in all liquid markets runs counter to human nature and the human element must be integrated into every aspect of your trading. That what makes us unique.

We train our students from the inside out.The secret weapon in currency trading is right between your ears and we intend to harness that weapon to YOUR fullest extend!!

The Forex Journey Website which features:

Live Market Training
One-on-One Coaching
Personal Self-Mastery in Trading to Your Strength
Live Workshops
Online Web Semianrs and much more...

I have seen so many traders look for the "Holy Grail" of trading inside the latest and greatest strategy without realizing that the true path to success in the market lies within.

The goal of our website is to teach traders to manage 3 Essential Elements of Forex currency trading: trading through sound strategies and approaches, master their emotions through identifying their unique trading personalities and trading to their individual strengths (no one size fits all here!) and lastly, through strong money management principals.

What makes us different? We put the trader at the center and craft success for the individual student.

We still maintain our recomemnded reading list over on our Lens. All proceeds from the Lens goes immediately to charity!

COMING SOON - A SPECIAL INTRODUCTORY OFFER FOR MY BLOG READERS.

STAY TUNED and Happy Trading!!


Free Forex Signal 26/04/2007

EUR/USD
EU uptrend is still intact but a minor correction is coming.
Short EUR/USD @ 1.3650 or better
Target: 1.3610, 1.3590

EUR/JPY
EJ uptrend is getting thin. This is the 3rd attempt to break the uptrend. Current wave not broken yet. This is a high risk trade.
Short EUR/JPY @ 161.90 or better
Target: 161.60, 161.20
You asked on Peter Bain Pivot points forex course and I am answering it -Since the time I recommended Peter Bain's forex mentor trading course, few of you have come back to me with a common question - "Is it worth an investement?"My answer will be "Yes!!! If and only if you like doing day trading." This essentially means that if you keep your trades open from few minutes to few hours and not
Kepada mereka yang masih belum tahu, berikut adalah masa pasaran forex dibuka bagi negara-negara diseluruh dunia. Masa ini adalah mengikut masa Malaysia iaitu GMT+8

Sydney - 5 pagi
Japan - 7 pagi
London - 1 Tengahari
New York - 8 Malam

Salah satu cara menggunakan market open adalah kita open trade mengikut trend utama pada masa market open. Contoh pagi ni aku buka 2 position iaitu GBP/JPY dan USD/JPY pada awal pagi. Ini kerana Japan market buka jam 7 pagi seperti biasa market akan aktif pada 2-3 jam diawal pembukaan.

Pada jam 1 tengahhari nanti kita lihat GBP/USD trend utama dan kita open trade. Harapnya market akan laju dan kita boleh tutup trade dalam masa 2-3 jam selepas itu.

Harap korang faham bagaimana menggunakan masa. Demi masa, gunakan ia sebaiknya. Kepada mereka yang ambil trade GJ dan UJ mesti tersenyum sekarang ni. Al maklumlah sudah untung besar.

Sebelum aku terlupa fxegypt akan mengadakan satu pertandingan forex trading. Hadiah utama adalah usd1000. Tarikh tutup adalah sebelum 30 April 2007. Kepada mereka yang ingin bertanding boleh rujuk di http://www.fxegypt.com/index.php?s=traders
1. GBP/JPY
Short GBP/JPY @ 237.30 or better
Stop Lost @ 237.70
Take Profit @ 235.90, 235.00

2. USD/JPY
Short USD/JPY @ 118.60 or better
Stop Lost @ 118.90
Take Profit @ 118.00, 117.65

Trade at your own risk.
Forex Trading at its best when technical indicators work like they should -A trader of currency market gets a lot of pleasure when the technical indicator s/he has analysed works the way analysis said. So, when someone feels that the currency pair should bounce of a fibonacci level or should bounce from EMA, and if that happens, its terrific.The same happenned with AUD/USD. My analsis of this

Apalah Nak Jadi Dengan Malaysia

Sekarang ni kalau korang perasan barang sumer naik harga. Kat TV cakap ekonomi Malaysia bagus tapi kenapa harga barang sume naik sedangkan pendapatan tak naik. Bukankah itu tandanya ekonomi Malaysia menghadapi inflasi, itulah yang diajar oleh cikgu aku kat skolah dulu.

Kalau kat Singapore diorang sibuk menaikkan gaji, kat Malaysia lak sibuk menaikkan harga barang, naikkan cukai, tambah bilangan pondok tol yang mana harga tol mencatat rekod tak pernah turun seumur hidup aku. Tol ni naik harga tu wajib nak turun harga tak pernah nyer.

Yang peliknya kalau nak dibandingkan Malaysia ngan Singapore memang takde apa pun Singapore tu. Ada pasir ngan laut jer, air minum pun kene beli ngan orang lain tapi kenapa diorang sibuk naik gaji yang kita ni sibuk naik cukai dan lain lain. Kalau duit nak buat mega project memang ada. Kejap timbul sana sini mega projek. Adalak duit tapi duit nak naikkan gaji rakyat takde pulak. Pelik sungguh.

Ini adalah pendapat aku saja. Harapnya takde lah yang nak ambil hati sebab sekarang ni kerajaan Malaysia sedang memerhatikan blog ni sume. Jadi kalau ada komen panas terhadap pemerintah silap hari bulan ada yang masuk kedalam. Apa pun tepuk dada tanya selera. Sendiri mau ingat.
Akhirnya apa yang dijangka terjadi. Blog Cari Duit di Internet telah berkubur di wordpress.com. Dengan itu berkubur jugalah usaha aku selama setahun. Selepas ini semua posting akan dibuat di blog ini yang mana cerita utama dia adalah forex disamping cara buat duit yang lain seperti uptrend, internet marketing, affiliate marketing dan lain lain.

Harapnya aku akan dapat post dimasa depan. Wordpress.com betul membuat aku bengang. Kalau difikirkan naik malas dah nak buat blog ni tapi kalau tak buat blog lagi aku tak reti nak buat apa.

Sehingga bertemu lagi dimasa depan.
Words are one of the most powerful tools we use in our day-to-day lives, so consequently they hold the same power in our trading. They can penetrate our subconscious thoughts and reek havoc on our confidence. Part of your Forex Journey is to use words that will empower your trading and not chip away at your results.

The following words should be stricten from your vocabulary!

TRY - Replace with DO or DON’T. TRYING IS FAILING WITH HONOR! You are either going to be a success for trader or you are not going to be a successful trader. Decide today which one it is going to be!

CAN’T - There is no replacement for this word and should be abolished from your vocabulary permanently!

BUT - Replace with AND. Any thought that follows but is an excuse. The first rule about becoming a great trader is to accept full responsibility for the results of your trades.

Here are some other words that will disempower your trading. Bring power into your trading and your life by using these replacement words.

Don't Hope, Know!
It is not If, it is When!
You don't have Problems, we rise to Challenges!
Why doesn't solve anything, but Whats or Hows do!

Happy Trading!!


Don't forget to keep up with my Lens.

Forex Trading using MACD

Forex Trading using MACD - As I mentioned in one of my previous posts, MACD is one of the very powerful and widely used technical indicator. In fact it is one of the very common indicators used in most of the currency trading system. However, this indicator needs to be used very smartly. Thats because this is a lagging indicator, which means that it gives a trading confirmation after the event

No stopping for GBP Pound

Milestone in the currency market - No stopping for GBP Pound.Today the GBP/USD currency pair touched 2.0000 mark which means that 1 USD = 2 GBP.The expert team is not sure till when will this run of pound going to continue. When I look at the daily chart I find the currency pair to be in 5th Elliot wave which means that the run can stop any time. My guess is that it will run till 2.150 or where
Today we saw the British Pound sour above the 2.0000 level marking a breakthrough of a major psychological barrier. I have to admit that over the past several months I have cheated on my favorite currency pair in lieu of the Euro and Yen. I have to take a moment to reflect while the Pound sits at levels it has not seen in 15 years.

What does this really mean?

Has Sarbox regulatory constraints contributed to the raise of cable?

Has geo-political events ushered in a long term change against the USD?

Or has the change in central bank reserves been good for the pound?

Nah! What this really means is that it is now easy math for us Americans traveling to the UK. A pint of beer in the pub costing £3 can easily be converted to $6. Sweeeet!!

And easy math is this traveler's dream!

Happy Trading!!


Don't forget to visit the Forex Journey website and our Lens!

The week opens and so do the forex trader's trading station

The new trading week opens and so do the forex trader's trading station.Today is sunday and the Australian and JPY market are open and I am alreading seeing a lot activity by the currenc traders. Typically this time of the day the volatility is very less. Today its a bit high.The currency pair that is interesting me more is the GBP/USD. The currency pair is already making adouble top. To confirm

Gunslingers and Casinos

Living in Arizona I am always surrounded by images of the Wild West. With numerous casino operations in and around the area and my relative proximity to one of the largest gaming centers in the world, Las Vegas, I am also surrounded by the images of the gambler.

Every gunslinger has its sheriff and every gambler has its casino. What we must decide early on in our trading career is which side of the table we want to sit on.

Think carefully about your decision, because one will lead to great success while the other usually leads a fast, but very brief existence.

You want think like a sheriff and act like a casino. The sheriff patrols the landscape to limite and risk to the populous. These are your stops! The casino has numbers and probability on its side. That is why the rules always favor the house. This is your edge!

Your stops and your edge are key components of your winning game plan for the Forex market.

Favors the house? Probabilities?

This is the concept that has created large fortunes and ruined aspiring careers. Master these principals and you will be on your way to successful and highly profitable trading. Always trade with rules that favor the house –you! And it is a good idea to have the law on your side to protect you when the gunslingers have you out manned!

Visit our Forex Journey website for Forex Training that instructs on strategy, mind and money management.

Happy Trading!!
Salam kenal rekan2 trader di Malaysia. Saya Silva_Gin dari Jakarta.
Saya waktu awal2 belajar forex pernah belajar kepada pakRushdi :D.
Lumayan banyak yang saya pelajari hingga suatu saat saya menggunakan sebuah sistem trading sendiri yang saya peroleh dari hasil eksperiment. Mungkin sistem ini pernah diulas oleh pak Rusdhi yaitu metode silva_gin scalping tehnik :D.
Mudah2an kedepannya saya juga bisa memberi kontribusi berupa signal Forex :D

Salam
Silva_gin
Akhirnya wordpress jawab kenapa blog aku kene suspend. Nampaknya wordpress tidak membenarkan blog komersial dalam server diorang. Bermakna apa saja blog yang bersangkut paut dengan perniagaan akan di gantung tanpa tali.

Jadi kalau korang nak buat blog citer pasal ayam berlari, kambing melompat, kucing terbang sila lah ke wordpress. Kalau nak buat citer forex ke, uptrend ke, jual kereta ke atau apa saja yang akan menjana pendapatan janganlah gatal ke wordpress. Blog aku yang kene gantung tu dapat pagerank no 4 di google. dengan keyword cari duit aku punya blog tu duk kat no 1.

Betul punya buang masa lah. Ingat senang ke nak buat bende tu. Sekarang ni aku fokus kat blogspot jer. Kene lah aku buat balik keje manaik kan ranking blog aku ni.

Free Forex Signal 13 April 2007 1:08pm GMT+8


Usd/Cad 4H

Sekarang di 1.1347 dan menunjukkan tanda dia dah penat nak turun. Walaubagaimanapun trend masih down. Jadi ada masa utk trend itu berubah dan utk kita ambil position. Buat masa ini Ucad mencatatkan harga paling rendah pada 1.1337.


Forex Signal:

Buy Usd/Cad @ 1.1340 or better.

SL pandai sendiri.

TP ikut sehingga diberitahu kelak atau boleh exit bila untung.


Selamat Menorex
Placing the trades using Pivot Points - Apart from the common indicators such as EMA, RSI and Fibonacci, another technical indicator is very popular between trades which is pivot points. This technical indicator is mostly used for currency day trading. Point pointsare nothing but some pre-identified support and resistance levels which are something like mutually agreed between the traders in
Untuk menjadi seorang trader yang berjaya, seseorang perlukan 3 perkara iaitu:
  1. Disiplin
  2. Disiplin
  3. Disiplin

Itu dia 3 perkara yang diperlukan. Mungkin ada yang akan membantah oleh itu mari aku terangkan kenapa. Dalam forex seseorang perlu konsisten. Maksudnya dia akan buat bende yang sama pada masa dan keadaan yang sama berulang kali. Malangnya pada orang baru, dia masih belum faham dan mereka buat sesuka hati bila bila masa.

Lagi satu contoh, seorang trader yang berjaya mengajar korang bagaimana dia trade. Walaupun korang menggunakan sistem yang sama, belum tentu lagi korang boleh buat untung. Sebab trader yang berjaya mempunyai tahap disiplin yang tinggi. Dia tidak akan masuk trade selagi semua syarat masih belum dipenuhi.

Signal Forex:

Short GJ @ 235.71 or better. SL pandai sendiri.

Short UJ @ 119.21 or better. SL pandai sendiri

Here is a little advice for those just starting their Forex Journey.

To learn to trade Forex (or any liquid market for that matter) requires no great skill. It only requires perseverance and desire. There is, however, a learning curve that all traders must ascend. There are, in my opinion, 3 areas that traders must gain supreme confidence with in order to succeed.

1. Strategy

You must learn the language of trading, the tools and when to use the tools. If you where training to be a carpenter you would have to learn the language other carpenters use such as 2X4, chalk line and plum. We have our own jargon such as pairs, dealing platforms and spreads.

You have to know the tools. A carpenter has a hammer and we have our moving averages. And you have to know when to use these tools. A carpenter would not grab a hammer to paint, and we have tools designed for specific market condition such as MACD and Stochastic.

Oh, and another piece of advice around strategies taught to me by Raghee Horner. In a training awhile back she asked the class to use her strategies exactly as she presented it. She had tested her strategies backwards and forwards.

I’ve seen so many traders take a strategy and immediately add or subtract something and blame the strategy for not working. Personally responsibility is a cornerstone of trading. This really goes to my point number 3.

I have another way of looking at it:

Dance the dance you are shown until you learn a dance of your own.

2. Money Management and Risk Control

I have personally proven that having a so-so strategy with solid money management skills is profitable and the inverse is not! The clear fact is, and I am going to use a baseball analogy, it is more profitable to lead the league in batting average than home runs.

It is the accumulation of the little winners that will get the new trader of and running. It is a process!


3. Personal Self-Mastery

In my opinion, this is the single most under served area of knowledge to the individual currency trader. It is the truly holy grail of trading. Knowing your personal strengths and weakness brings a level of awareness like no other.

Once we are made aware of the factors that influence our trading, we can bring to bear strategies to neutralize our weaknesses and leverage our strengths.

There is no single skill trading more important than self-mastery! It is your own personal mastery that will determine your ability to deploy time tested strategies and risk control methods.

The truth is little winners lead to bigger and bigger winners. Mastering the process of trading is mastering to repeatable little winner.

The biggest mistake I see new traders make is that the focus is placed square on making money. Master the process of trading described and not focusing on the money is the surest way to make money is this risky area. This is why in my training on Forex Journey Live Market Training, the process is super-emphasized and the word “money” is strictly forbidden!

Happy Trading!!

Wordpress.com Blog Suspended

All of my wordpress.com blog have been suspended and they dont give me a reason why. They do not answer my email. Shit.

Below are the list of my blog at wordpress.com
  1. http://cariduit.wordpress.com (This blog is ranked no.1 in google)
  2. http://uptrend.wordpress.com (This blog 1st page on google)
  3. http://kereta.wordpress.com (My latest blog to sell used cars)

For information, I am setting up a new blog for uptrend. The url is http://uptrend2u.bloggles.info

Hopefully wordpress.com would allow me to log in so that I can transfer all the entry that my brother made to the new blog. Its a lot of work and thanks to wordpress.com, its getting a lot harder.

Kepada anda yang tak reti English, mintak maaf. Nanti aku akan maklumkan blog cariduit baru aku. Penat giler nak taip sume tu. Wordpress.com ni betul mangkuk hayun lah. Kepada En. Ponzi, boleh kita jumpa ke?

Trading with EUR, GBP

Trading with EUR, GBP - The popular currency pairsEver thought which are the most popular currency pairs to trade? Yes, EUR/USD is the popular of all and generally has tightest of spreads which is 2-3 pips depending on the broker.The next is GBP/USD - the highly volatile and has spread of 4-5 pips. What follows is USD/CHF and USD/JPY. Generally have 4-5 pips spread.Remember the high the volatile

Forex Day Trading System : Resources for Forex Charts

Forex Day Trading System : Resources for Forex ChartsIn one of my articles few days back, I mentioned the importance of reliable and realtime forex chart. Some of you have asked me few sources for them.The best source is the chart service that your broker provides. So, for e.g. since I use the plateform offerred by FXCM, I use the chart provided by them since my buy and sell price are reflected
Over the past year I have been branching out with my personal development. During my forex journey over the past 18 months I have taken a series of personal development courses and certification workshops that has provided me with great insight on how the human mind operates.

Especially for traders!

In addition to being a currency trader and educator, I am now both a Board Certified Hypnotist and Success Coach. During my studies one thing became crystal clear, we are who we are and that alone is perfect.


Did you know that our core personality and beliefs systems are established prior to the age of 8? By our 7th birthday our core operating system is in place!

These systems include our view of money, risk and reward, key elements in trading. That why it your always here people saying to enjoy life like a 7 year old. As a 7 year old our minds were an open book, creative and imaginative.

Our identification with these value systems are brought to bear in each and every trade. You are who you are. These beliefs can not be changed. The events that formed these beliefs, whether accurate or not, did in fact occur. With guidance these beliefs can be reframed, but there is a simpler first step … Awareness!

Identifying your core beliefs will assist you in recognizing the value system you bring to your trading. Once that recognition is established you can not begin to address how these traits both help and hurt your trading activity.


For more about me and the Forex Journey experience please visit out Lens at Squidoo.

Happy Trading!!
Day trading the Forex: Zing is missing from the NFP announcementsSomehow that volatility for which Non farm payrolls and related fundamental news and announcements are famous, is missing.Yesterday's NFP was $ bullish and EUR/USD currency moved only 80 pips as against the typical movement of 100-140 pips..Is it because the NF payroll is not being treated as important by market anymore? This

Chart courtesy of eSignal

Well, the Non-Farm Payroll numbers blew away consensus. February's numbers were even revised upward, but because of the light volume on Friday explosive volatility was concentrated just to the majors. The EUR/USD has returned a strong support area at 1.3370, which is the Dec 4 swing high and 38.2% retracement level of the Mar 4 to Apr 5 rally.

JPY/USD should offer some interesting action. Currently the pair at the 61.8% retracement level of the Jan 29 - Mar 5 move. Any break fo this level should see the pair revisit the 120.00 level soon.

Happy Trading!!


Forex Day Trading System - Its that time of month again

Forex Day Trading System - Its that time of month againYes, its Non farm Payroll time..or popularly known as nfp..The hottest news of monthly forex calender. As like last month, I am going to try few forex strategies that learnt from Avi Frister's popular ebook. Also, I am going to try some more startegies that I am trying to develop on my own.For the last 2 months, I am finding that NFP is not

Charts courtesy of eSignal

Are you ready to rumble?

Tomorrow's Non-Farm Payroll report looks like it is going to have some extra juice since the U.S. and European equity markets are going to be closed for the Good Friday holiday. The Euro saw positive price action today with the continued hawkish stance by the ECB.

Key Technical Levels to look at:

EURUSD closed above the 1.3411 resistance level setting up a run at the 1.3472 Fibonnacci expansion level at the top of our channel for dollar negative payroll numbers or return to the trendline for positive data.

The real test will come from the revision figures which could provide the fuel to challenge our support and resistance levels. Either way it looks like this is going to be a volatile report which means .... opportunity!

Happy Trading!!

Here and Now

Trading is for real and like I have said on numerous occasions, trading is a business. Why then do so many traders treat their activities like a hobby? True, we all have different levels of commitments and goals, but it is our money and that alone should lend a bit more seriousness than a hobby!

As a trader and a success coach to other traders, I see the full range of errors. I am just as guilty as all the other traders and must be constantly monitoring my activities to keep my trading demons at bay. It is all about awareness.

One of the common mistakes I see traders make is not staying in the present. What I mean by that is that when you are sitting down in front of your computer you must stay in what I call the here and now. Being present and focused on the task at hand (trading) is a big part of your trading edge. Just like a golfer preparing for golf shot, I spend the first 15 minutes of trading day getting my mind in the here and now. I start by reading my personal mission statement (out loud), followed by my trading rules and affirmations. I end this preparatory time by saying the following statement:

What time is it? Now
Where am I? Here

Now I am ready to open up my charts!

Happy Trading!!
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