Forex Trading JournalForex Trading on EurUsd, GbpUsd, UsdChf, UsdJpy and EurJpy. My focus are in day trading and also longterm trades which are based on both technical and fundamental analysis. I also take high considerations to macro-economic factors. My aim is to become an expert trader.19-23th February 2007: Outlook & Trades- February 9, 2008 Still analyzing the market. Yen have made some upside move. I still haven't look at other market, I'll look later. I have a family ceremony in this weekend, now helping my parents. Chinese New Year is also around, so Happy New Year for Chinese all around the world, good fortune for all, and have a nice weekend.Updates: 19th February 2007: I opened 4 positions: 1. buy eurjpy at 157.03, sl:156.61 2. buy gbpjpy at 232.70, sl:231.88 3. buy gbpusd at 1.9460, sl:1.9389 4. buy usdchf at...http://forex-tradingjournal.blogspot.com/2007/02/19-23th-february-2007-outlook-trades.html Dollar Technical Analysis: 28th Jan 07- February 9, 2008 Weekly chart: Both trend line intact. Price touched the lower down trend line but closed below it. Ignore the MA, it is for the daily chart. The green trend line is the monthly trend line, the penetration is not valid because the month is still not ended.Daily Chart: Uptrend line intact. Price still above 20 MA, watch the last candle that I highlighted. It penetrated the down trend line but then rejected. Price slopes decrease from 15th to 26th January 07. MACD signal almost generating sell...http://forex-tradingjournal.blogspot.com/2007/01/dollar-technical-analysis-28th-jan-07.htm... Dollar, where to go- February 9, 2008 Last week I have lost large number of points because trying to short GBPUSD, it was a mistake. I has drag me to almost break-even level, while on the early of the week I have generated almost a third of my account size. I have my reason on doing this, they were the fundamentals factor on the USD side, which have shown many positive data for the economy. Seems like there are a very strong resistance on USD that holding it from getting any higher. Maybe there are large numbers of stops and limit..http://forex-tradingjournal.blogspot.com/2007/01/dollar-where-to-go.html When To Exit- February 9, 2008 Still on exiting. I still not good in exiting a trade. I still have the doubt whether to exit or not. I have no problem in entering a trade when i see a setup, but to exit, seems like a difficult decision to me. Usually when I want to pull the trigger to exit, I will hesitate, thinking that the trade will go further higher or lower, and at last I moved the stop higher or lower. It was just a single click away, but it is hard and confusing for me. When I open the screen later on the next day, my.http://forex-tradingjournal.blogspot.com/2007/01/when-to-exit.html Exit Rule- February 9, 2008 I still having problem in determining when to exit a trade, especially when its profiting, I love to ride the trend and always have in mind to get a ride on it. It is this action that has always made me to lost big chuck of profits, like what has happened in my last trade. They got stopped out. Perhaps I have to revise my exit rules. I have found some good rules to follow, a simple one is:"Let your SLOW MOVING winners ride, and cut your "TOO FAST" winners and all of your losers short"Hopefully..http://forex-tradingjournal.blogspot.com/2006/12/exit-rule.html Malaysian Ringgit (MYR) vs Dollar- February 9, 2008 Malaysian Ringgit has gained more than 1% since past 2 months because of the dollar slides. The main reason for the dollar slides is the economic fundamentals of the USA, which are the inflationary factor and the housing factor of the country. Below were the latest USDMYR 4hr chart:Weekly chart, looks like diving toward 3.5800:This dollar depreciation will looks beneficial to peoples who want to buy dollar. But as an exporter country and tourism country, Malaysia will loose some profits in...http://forex-tradingjournal.blogspot.com/2006/12/malaysian-ringgit-myr-vs-dollar.html One Year of My Currency Trading Blog- February 9, 2008 Today mark one year of my currency trading blog. I don't know what to say. While I love trading, I don't feel that money is that important to me. Yet money is needed but only on some amount, because I don't feel that I need a lot money.Trading make me realize what is more important than money: knowledge & good deeds. Without knowledge, the whole pile of money in the world is not enough to us. Without good deeds, I feel that my life is meaningless & useless. I think that is why the two...http://forex-tradingjournal.blogspot.com/2006/11/one-year-of-my-currency-trading-blog.html Stagflation- February 9, 2008 From wikipedia:Stagflation is a combination of the words stagnation and inflation, a term in macroeconomics used to describe a period of high price inflation combined with economic stagnation, unemployment, or economic recession characteristic. "Stag" refers to a sluggish economy with job shortages and little income growth, while Flation signifies rapidly rising prices.Stagflation is considered to be a problem, because most tools for directing the economy, that is fiscal policy and monetary...http://forex-tradingjournal.blogspot.com/2006/10/stagflation.html A Lesson for Me- February 9, 2008 I have learned a valuable lesson last week: Never trade when your do not do your homework. I have lost a forth of my profit because of this. Also never trade when it is not time to trade, or you will loose. I also should notice when the sign of self-sabotage occurs to me. I also have to stop trading when sign of my bad habit shows. It was just not worth it to loose control of ourself.Bye Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/10/lesson-for-me.html Why I Have Dropped Out MACD- February 9, 2008 Past post I have written that i have dropped out MACD as my trading indicator. In this post i will try to explain why did i do that. But i have to emphasis that MACD is a very good indicator indeed.First of all, lets take a look of what is actually MACD. MACD is just a simple indicator which consist 2 part of calculations derived from exponential moving averages. The most famous setting for MACD is 12, 26, 9 which represent (slower EMA, faster EMA, signal average period) in order. We start with.http://forex-tradingjournal.blogspot.com/2006/10/why-i-have-dropped-out-macd.html |