EURGBP DROP

Yesterday I wrote about EG connection. Guess what, I took the whole EG drop and run away with it. Right now all live post on EG is closed, profit in the bag :).

I was so confident on EG drop I was betting 50% of my capital on it on 1 post only. Quiet a risk and really worth it. I feel like I just won a horse race :))

EU still up there and there is a killer spike up to 1.3537. Atm I on sideline watching for opportunity.

Fing lol email me on your progress. Really like to hear how you are doing.

EURGBP CONNECTION

Here is a homework for some of you. Your task is to find the connection between EurGbp with Eur pairs (EurUsd, EurJpy) and Gbp (GbpUsd, GbpJpy) pairs. You can post in comments about your findings so that we can discuss. Discussion is always a good learning method since you are required to think and not spoon fed.

EURUSD has finally reached its top. Entry point for me is between 1.3450 - 1.3500. You can find a suitable entry point or wait for the pair to really go down and take your entry. At the moment that entry is still a high risk entry. I am giving an early heads up so you guys can prepare.

Btw dont post link or whatever you want to promote in comments. I will not allow it and there is no such thing as 100% accurate forex signal. When are you guys gonna get it. There is no such thing as 100% in life.

CHART ANALYSIS - EURUSD

I think I will give chart analysis from now on. Its easier to do and easier for you guys to get confused :). First up is EurUsd. Not very hard to trade actually once you know the direction.

Ok lets go to the confusing part. That is the charts.

There you go. Weekly chart for starters. Can any of you guess which way is EU going? From the looks of it, EU is really going down and its a fast one. Easy isn't it?

Next chart please. 1 chart isn't going to get anyone confused.

Next is the Daily chart. Guess what, daily is also pointing down but at the moment it is in oversold position. CCI is way down there and making a U turn. Expect correction at daily level. So far 2 charts says EU down with a correction coming.

Another chart. Anyone confused yet???

This is the hourly chart. We can see where the correction is. Its really climbing now. So before anyone get anymore confuse I would say wait for the hourly chart to point down then you sell. Plan for the worse hope for the best. Keep your money management tight and you may survive the storm.

Btw dont sell EU yet. That sell line is for me to mark S&R. If EU do go down next target is 1.30 and 1.25 based on S&R on weekly chart.

Now the question is, how long do we have to wait before selling EU. The answer is I dont know. Just wait and see. It is what Forex is. Anyone here still confused?? I do :)

ITS NOT PIPS BUT PROFIT IN FOREX

You can actually tell if someone is new in Forex by the way they count their pips or profit. When people starts forex they count pips. They can have hundreds of pips a day and yet their profit is low. This is due to the low risk reward ratio they have taken.

Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade. These trades do not give you high pips but the profit margin is high.

That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday.

For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.

Hunt pips but count profit. Good Luck

NEXT UP EURGBP

EurGbp is going up so those of you who have the guts do buy EG at every dip refer to chart 1H or lower to view.

I got lots of email and calls asking me about the secret of forex and how to trade. What if I tell you the answer is not as u expected it to be. Some people even rejected the answer when I told them.

I dont blame them. When I found the answer I feel like Im going to cry. Its hard to accept something the logical mind cannot understand. In the mean time, take it slow and enjoy the ride.



People say seeing is believing. 2 post already TP. Another 1 more for weeks to come. Forgot to mention. Possible retrace at the price in the picture. So TP at will reentry on next low.

AN EYE ON AUDUSD

AU manage to hold its level when both EU and GU fall down dramatically. Do look at the daily chart to see what I mean.

Some of your might not understand what it means and so do I :) Dont worry, the longer you are in Forex the more info you will filter out. This is coz some things are not worth understanding.

The reason I am pointing this out is when a pair is making a stand like AU, you can actually use it to your advantage. Advantages such as:

1. The next time AU decide to fall down there is a high probability the EU and GU will crash but there is a limit to everything.

2. The next time EU and GU start to climb, AU will fly.

Keep that in mind coz I do. I am waiting for the AU to fall or fly.

LOST IN FOREX

Have you ever been lost in Forex? Some of you might be thinking, how do i get lost in forex?? Let me ask another question. Have you ever open a trade in one direction, after some time open a trade in the opposite direction?

Im sure that happens to all of us, myself included :). That is lost in Forex, where we are unsure of direction of trade. Some people even hedge in the situation.

I have a few tips when you are lost in Forex.

1. If you are lost and dont know which direction to trade, the most important thing is to stop trading and do something else. Go plant a tree or play games. Dont even look at the charts anymore to avoid confusion.

2. Is to take a trading system and put it on multiple time frame. I trade using the same system on 3 timeframe. 15m, 1h, daily. When all three is pointing at the same direction then I trade. If 2 timeframe is pointing at the same direction then i scalp.

3. After sometime, your brain will start to imprint patterns of Forex. Forex has the same pattern over and over again. In our mind, that pattern has been imprinted and it influence our decision making subconsciously. Once you reach that state you will rarely get lost in Forex. You will know the exact time to trade or to get lost (do something else).

I will try to update this blog. Been so long and so busy with new place. As for Forex, USD pairs are going nowhere at the moment with a high probability to go down further. Good luck on your hunt for pips

3 Most Important Forex Fundamental Indicators

There are many fundamental indicators available to the Forex traders today. If you count all of them only for the major currency pairs you’ll get more than a hundred distinct indicators — macroeconomic, monetary, economical, financial, weather-based, etc. For many traders it’s difficult to follow all of them, as it requires time and efforts in addition to the necessity to learn about the effect of all these fundamental indicators on various currency pairs. This article lists 3 most important (in my humble opinion) fundamental indicators that have the highest impact on the currency rates and are quite easy to follow as they are reported not so often.
  • GDP or Gross Domestic Product is the main indicator of the macroeconomic strength of the country. The growth of GDP signals a stronger economy and a more competitive currency because the global investors will have to buy this currency in order to invest in this country, and they will want to invest in it because its economy is growing. GDP reports are usually published quarterly but they have three states of revision (advance, preliminary and final) published with the monthly intervals. GDP strongly affects currency pairs both in short-term and long-term. You’ll have a trading opportunity during the time of the release, as the volatility spikes up, and you’ll be able to adapt your long-term positions to the new data after the release.

  • Interest Rates are set by the world’s central banks and are the main tools of the monetary regulation. Higher interest rates provide more value to the affected currency, while the lower interest rates decrease the value of the currency. Interest rates are usually revised every month or two during the special monetary policy meetings of the central banks. Interest rate decisions greatly depend on the growth of GDP and other macroeconomic indicators. Currency pairs react with the high volatility to the unexpected interest rate changes. It’s important to monitor the trends in the interest rates to forecast the long-term trends of the traded currencies.

  • Unemployment Rates are influential indicators both for currency traders and for the monetary authorities when they set the interest rates. Non-farm payrolls are considered to be the most important of the unemployment indicators in USA and they are released monthly. Major currencies usually react with the short-term tendencies to such releases. Weekly reports on jobless claims can also be considered but they aren’t as influential.

In many cases it’s enough to be up to date with these fundamental indicators to understand the possible market trends in Forex. But, of course, if you wish to get a more detailed picture you shouldn’t limit yourself only with these indicators, especially if you pose yourself as a pure fundamental currency trader.
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