What Forex Taught Me

In my 1 year of trading forex I have learnt a lot about forex. There are some qualities that is needed in a traders. From my experience these are some of them:

1. No Ego
Ego is when you dont want to admit that you have made a mistake. In forex, mistakes are common. It is very hard to forecast something that has a lot of factors involve. If you have made a mistake, admit it and turn your position if you see fit. If you dont want to admit your mistakes, you will end up broke

2. The Future is unknown
That is the truth the hard truth. Unless you can see the future like the movie next we are all the same. There are some people with skills that can forecast the movement of forex and make money but the truth is, its too high of a risk. Better to trade based on price action

Forex Review Week 4 July 2007

As predicted earlier in Forex Review last week, all according to prediction. EU and GU have hit the price prediction. All JPY pair went straight down from the starting of the week.

Now next week prediction. GbpUsd and EurUsd is at full down force now. Next week we should see it continue to go down. I forecast 2.0185 as the border line for GbpUsd and 1.3627 for EurUsd. If borderline is broken it would swing around it before continue to go down.

As for JPY pair it will continue to fall. Currently at full down but watch out for sign of reversal when it starting to make new high on the 30m chart.

Happy trading all

Final trade of the week. All closed now. Time for holiday. Happy trading everyone

Free Forex Signal 26 July 2007

Long EurUsd @ 1.3721 or better
SL = 1.3685
Target = 1.3778, 1.3869

Forex Trade 24 July 2007

Yesterday was a good day. All 4 position won with a total profit of 145 pips. As for today the market is a bit jumpy and very difficult to judge. Anyway I have open a few live position which is consider to have high probability of profit.





There are live and virtual position. The live have bigger chance of success and I advise to follow only live position. Unfortunately for me, Ive made a mistake in GbpJpy entry. Really stupid when you yourself set the rules and you break it. The result is up to -40 pip and still holding. Hopefully the trade is correct and I will close it maybe tonight.

Update:
Not a good day after all. Manage to get +45 pips. The trade was all correct but confident level and SL isnt good. Anyway profit so far for this week up to 190pip

Forex Trade 23 July 2007

Today is a good day to trade. I still have 2 position open which I will put stop loss later.




Total Trade Closed = +45 pip
Reason Closed = When you trade more than 50% of your capital its called stealing. When you are stealing, take what you can and leave. Dont get caught by the market.

Trade Still Open = +90 pip

Possible trade:

UsdCad is looking good for a long entry @ 1.0430
EurUsd is looking good for a long entry @ 1.3812
UsdJpy is looking to short again? Weird ....

Update:
All position closed.

The truth is Forex is about trading. It is not something that you can sell. Now lots of people claims to have a good Forex system and selling it over the internet. Where is the logic in that.

Imagine you have a Forex system that consistently giving you wining trades. The probability is so high that you are willing to and have succesfully trade up to 50% of your capital. Because of its high winning ratio, your accout grows more than 100% a month. Would you sell that system or would you just keep it to yourself.

Would you go to the trouble of doing marketing, SEO, website, selling pages and payment processor? Is it easier to just trade it by yourself? Is it worth it to sell something that is a winning system?

In my hands I have a winning system. I am not willing to sell it or even to share it. I am however looking for 2 students whom I will teach the system and let them trade it. If the 2 students make profit, I am sure what I have now is a winner Forex system and it will be my best kept secrets. It will not be written anywhere but inside my head.

The next time you meet someone who claims to have a good Forex system and trying to sell it to you, maybe you can ask him the same question. Why sell it for money when the Forex system itself can generate money for you, lots of it forever.

An amazing Forex Trading system at stunning price

An amazing Forex Trading System at stunning price!!!!!!!Anyone who trades forex or options or commodities or anything, knows the importance of a trading system. The system not only has to be good and easy to understand, but should also be reliable under any market conditions. Thats what Adam Burgoyne's 5EMAs forex trading system does.1. The system goes excellent entry points and exit points 2. It

System Testing

The whole of last week, I was doing the crazy thing to do in forex market that is going againts the trend. This is coz I am testing my forex system

The result is quite good. Only 1 position loss with a gain of 120 pips. This is for the trade againts the trend only. My follow the trend position is still in trade with average of 200 pip each position.

Hopefully all goes well and this would be my final system for all time. I dont see the need to change it anymore since it is giving signal clearly.

Forex Education Mind Set

Here's a forex education blog post I like and thought you might too! You can find the article at:
http://financial-blogs.blogspot.com/2007/07/forex-trading-do-you-have-what-it-takes.html

or below:

Forex Trading - Do You Have What It Takes?

There are some facts that you simply must accept to have a fair chance to be successful at Forex trading. Let's have a look at what these facts are and if you can succeed in the worlds most exciting investment environment.

Trading markets are not scientific

The thought of approaching Forex trading by applying science is appealing. However, Scientific theories dont and never will work, because humans determine the market prices, and doing so, they dont consider scientific criteria.

Most people would prefer to be able to make money without risking anything. Many vendors try to gain from this fact, offering trading systems which are described as a possibility to trade with low risk and make a regular income. The fact you must accept is:

If the reward is big, the risk will be mirrored. Pure and simple, risk and reward walks hand in hand. If you can't accept taking risks, you should look for another small business idea.

So far it has been kind of negative, lets have a look at the bright side

To be successful at Forex trading will not require hard work! Work smart not hard is a perfect expression here, meaning that you don't need to learn just for the sake of learning. You'll only need to learn one system/strategy. It wont take long to learn because...

Simple straight forward systems work best. A simple system in Forex trading will outperform a complicated system, short term and long term. Why is that a indisputable fact?
Because it will always be easier to implement a simple system in a complexed market. A complexed system with a lot of parameters, makes it much harder to find the right trading opportunities. The most reliable currency trading systems all tend to be simple.

You can learn everything about currency trading

If thats a fact, why do so many Forex traders lose? The answer is the lack of mental discipline.
Currency trading is more about mindset rather than just a method. If you dont maintain discipline to follow your method, the method isn't there anymore. The best way to gain the necessary discipline is to develop your own method. You'll be confident in your trading because of full understanding of the method.


If you are able to accept and take calculated risks at the right time, Forex trading can be very profitable, due to the leverage at your disposal. Forex trading is not rocket science. Its a lot simpler than you may believe, and thanks to the Internet it's available for everyone.

The key points:
Education
Learn to accept the risks
Rely on yourself
Trading discipline

Forex Review Week 3 July 2007

JPY pair finish the week at a high. Next week we should see a price correction before we can see another push up or change direction down. Last week all JPY pair momentum is slowing down. At the moment the best position is to short all JPY pair.

GbpUsd and EurUsd finish the week at a high. A correction should happen at the opening of next week. Currently both GU and EU momentum is building up. Taking a short position is considered risky but a correction to 1.3700 for EU and 2.0230 for GU is possible.

Forex Day Trading system - Major top in the EUR/USD

Forex Day Trading system - Major top in the EUR/USDI am watching this currency pair for past 2 days..I am finding that a major top is in place..Thats why even if my trading system is saying that go long, I am not. If you notice, the current level of EUR/USD is offerring a major resistance. The pair has been rejected multiple times from that level..I'll do either of the below two -1. Go long only

A Good Start

Here is a hint to those starting in Forex. Take a good scalping system that you can find in the internet, use that system to trade on longer timeframe like 4hours or daily. If the system is good on short timeframe it would be better on longer timeframe.

You will have yourself a price action system. Which means you dont have to forecast anything. You will trade based on price action and you will have little to no stop loss. Try it
You read about the risk trading the Forex market every day. I talk to many successful traders and investors about the Forex market and it is mind blowing the fear this market produces amongst the conservative investors and daredevil attitude of the aggressive traders. Yes, it is a fact that 95% of traders lose money in Forex. I was taught that if you want a better answer then you have got to ask a better question and my question is why?

The answer is rather simple – most traders seek the path of least resistance and that will inevitably lead to failure. They failed because they didn’t take the time to gain a proper understanding and cheated their Forex Education!

Look, the market is neither for you nor against you. It makes profit opportunity equally available as the chance to take a loss. It will take money from you no matter your age, sex, experience or effort you put into your trading. The Forex market only rewards those who are correct and nothing else. It’s the old saying – work smart and not hard.

That leads to the next question; how can I be correct and smart? The answer is simple – through Forex Education. I have put together my Success Formula for trading the Forex market.

1. Strategy – it’s not a one size fits all world. Different strategies play to us based on our individual trading personalities. Understanding the rules and tools are critical when applying them to the market. This comes with time and experience. Don’t short change your learning curve. It will eventually lead you to profit.

2. Money Management – planning your risk will keep you in the game as you climb the learning curve as well as exploding your account once you’ve gained the experience and knowledge. Mastering this skill is not optional!

3. Self-Mastery - is having the discipline and emotional control to manage your strategy and money management plan. Knowing yourself will be skill that catapults you in to the elite 5%. It takes self-awareness training, accepting full responsibility for all of your trading actions and the ability to go beyond trading and finding your true personality. Talk to any successful trader and you will quickly see the control they exert not only in their trading, but in their lives in general.

Learning to trade Forex isn’t rocket science. Keeping things simple and working smarter will lead you to success in this market and the path forward can only b accomplished by investing in your Forex Education.

Happy Trading!!

Cari Duit Dengan Forex

Sedar tak sedar hari ini adalah hari yang ke 430 hari aku trade forex dan aku masih disini. Ini adalah satu pencapaian peribadi yang baik buat diri aku kerana aku telah melihat ramai orang trade forex 2-3 bulan bungkus dan balik. Ini kerana forex market adalah tempat yang amat berbahaya kepada harta modal dan wang anda.

Diawal pembabitan aku dalam forex aku sedar, Forex adalah sesuatu yang amat sukar difahami. Kerana 95% orang yang trade forex akan bungkus dan balik dalam 6 bulan pertama. Didunia ini cuma 5% sahaja manusia yang berjaya hidup dengan forex. Persoalannya, dah tau bende alah ni susah kenapa kau pegi susah payah lagi belajar. Jawapannya, yang susah itu adalah satu cabaran buat diriku. Lebih susah lebih aku suka.

Dalam setahun ada 365 hari lebih kurang. Bermakna aku dah trade forex live selama 1 tahun 2 bulan dan 5 hari genap pada hari ini dalam sejarah. Permulaannya aku meletakkan tempoh 2 tahun untuk aku mencipta sistem trade aku sendiri. Nampaknya aku hampa. Tempoh 2 tahun itu tidak tercapai oleh aku. Kerana aku memerlukan 1 tahun 2 bulan saja untuk mencipta sistem forex trading aku sendiri.

Dalam Forex ada 2 jenis market secara am iaitu trending market dan ranging market. Kedua dua market ini memerlukan pendekatan yang berbeza dari segi trade. Kalau trending market kita akan trade mengikut trend dan sekiranya ranging market kita trade pada harga siling dan lantai. Persoalan bilakah market uptrend, downtrend atau ranging? dan sekiranya market ranging dimana siling dan dimana lantai?

Rasanya persoalan itu telah terjawab. Sebenarnya jawapan itu telah ada sejak aku mula trade forex cuma aku tidak perasan. Apapun hasilnya akan dipost disini mulai dari hari ini. Harapnya memuaskan hati.
Forex Day trading system : Major bottom in USD/CADThe currency pair of USD/CAD is showing major resistance at the present levels. 1st there was a very bullish candlestic on a 1 hr chart last week and now today the forex pair bounced up again from that level.What does this mean? This means that currency pair bounced from a level, tested it again and then bounced again. Remember it didn't stabalize

Forex Education - No Pain, No Gain

Forex trading breakthroughs have a lot to do with your ability to get comfortable with being uncomfortable. Success usually comes from staying in the here and now, as well as accepting the fact that the market literally can do anything at anytime.

Many of your actions now may seem frustrating - such as designing a trading plan, sticking to just a few currency pairs, learning the intricacies of a strategy. It can seem downright overwhelming too. Just remember that each step you take in the process is adding value to your eventual trading success.

Why is it that so many people are always seeking the easy way out? I guarantee the amount of time searching will be less than just digging in and climbing that learning curve as fast as possible. Just imagine where you're going to be a year from now with a little bit of effort and determination!

Here are some thoughts to get you through that learning curve at lightning speed:

1. Hard Work Now Will Pay Off Later

All the work you do now mastering the process of trading through Forex education will pay off. Will it pay off today or tomorrow? Probably not, however, the small things done consistently in the right places will pay huge dividends later.

2. Every Experience Is A Lesson

Learn from both your mistakes and your success equally. As the question - what lesson am I meant to learn from this and journal it!

3. Focus On The Positive

Losing is a part of trading. Except it and keep your self-talk 100% positive. You will find that at the end of your Forex Journey you were your own worst enemy.

4. Choose The Difficult Action Over The Easy

Doing this will make you a stronger person, not just as a trader. You will find that your characteristics follow you in trading. When you grow as a person you will enhance your ability as a trader. Ask yourself - what action would a profitable trader take and then do it!

Remember this when you get frustrated by learning a new trading technique or in transitioning from demo to live trading -- if you are uncomfortable you're growing as a trader -- and take comfort in being uncomfortable.

Happy Trading!!

Free Forex Signal 6 Julai 2007

Short Aud/Usd @ 0.8575 or better
SL : 0.8606
Target : 0.8525 and more

Long Usd/Chf @ 1.2146 or better
SL: 1.2105
Target: 1.2210 and more.

If the trade goes well and the 1st target is broken, follow through with trailing SL. Trade at your own risk.

Forex Day Trading : USD/CAD looking more and more bearish

Forex Day Trading : USD/CAD looking more and more bearishAs you know, the fundamentals have a lot of impact on how the currency pairs behave. One of the common fundamental indicators that drive the USD is the oil price. Yes, since the oil and gas is consumed very heavily in USA, it has direct impact on the American inflation and so on the bank rates.However, the price of gas impacts the USD/CAD

Trade Review 2 July 2007

Last week was a good one. eventhough none of my target hit but my trailing stop loss put me in good profit + some position closed earlier. For this week trade:

Possible trade: (These are early signal with no confirmation yet)

1. short gbp/usd @ 2.0086.

2. short usd/jpy @ 123.42


today and tomorrow im not going to trade since going outstation. Just watch for the 2 trade above.
Forex Day Trading System - GBP/USD is all about going longThe GBP/USD after a 2 month retracement is back to long ways again..It has broken the 2.0000 barrier once again. It briefly retraced on past wednesday and thursday, but on friday it zoomed up just like EUR/USD. The technical indicators were perfectly lined up. I used the system specified by Adam Burgoyne in the forex trading system that he
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