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.Catch That Dragonfly- February 9, 2008 This is a dragonfly. It is an insect which lives both in the water (when they are babies) and land. Dragonfly eats other small insects. They have four wings and six legs. They have long tails.Dragonfly usually found near ponds, lake and places where there is open water. The reason is they need water to breed. I think most people have seen a dragonfly flying low near water and dipping their tails. This is how they lay their eggs.When i was a small boy, my brother & i used to catch this...http://forex-tradingjournal.blogspot.com/2006/10/catch-that-dragonfly.html What do PIPs mean- February 9, 2008 Have you ever wonder what do PIP(s) actually mean It is actually stands for price interest point. The value of 1 pip is equal to 1100 of 1% of one contractual size. One contractual size is for example:eg. 1 EurUsd1% of 1 EurUsd is 0.01 EurUsd1100 of 0.01 EurUsd is 0.0001 EurUsd.1% of contract size is called basis point. So to have 1% of basis point, ie 1 bip movement the price should move 100 pips. From 1.4000 to 1.4100 or vice versa. Next time when you hear the price move 1% from last week (or.http://forex-tradingjournal.blogspot.com/2006/10/what-do-pips-mean.html Trading Tips From John Carter- February 9, 2008 Here's some tips from John Carter, a well-known trader from Trade The Market. He gained 700% from his capital by trading cable using their own built company's indicator, TTM Squeeze.John said that:Trading should be boring like a factory workTrading should be a pessimistic job& more in the video here from ABC.Watch this, you can learn something. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/09/trading-tips-from-john-carter.html My Outlook for Week Beginning 25092006- February 9, 2008 Well this is my outlook the week coming. But still have to be open to changes because conditions may change.CAD - Bearish (Strong)CHF - BearishGBP - Bullish (Weaken)YEN - BullishEuro - BearishNZD - Bullish (Weaken)AUD - Bullish (Weaken)USD - Bearish (Subject to reverse, consolidate)Good trade. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/09/my-outlook-for-week-beginning-25092006.ht... Placing a Stop-loss on Your Trade- February 9, 2008 There is always risk in trading, especially when using margin (leverage). It will be a good thing to know where that you want to leave the trade when it is bad. Putting a stop-loss will prevent you from hoping that the market will make a reverse towards your way, which will usually lead to a big loss (believe or not there are traders out there which hanging to their trade while it is going bad to more than 100 points). What eventually will happen you will have a margin call, which is quite...http://forex-tradingjournal.blogspot.com/2006/09/placing-stop-loss-on-your-trade.html Daily Chart Trading : Exit Rule- February 9, 2008 I have exited a position for daily trading very prematurely. I realized this was a mistake because i still can carry the trade more to catch more profit. These are the exit rule for the daily chart trading, for me to avoid exiting prematurely:Overboughtsold stochastic, also the gap between slow & fast signal is almost touching each other.Candlestick pattern for exhaustion, reversal.Volume has decreased to alarming level.Stop rule:Move stop based on last day lowhigh.Hope this is okay. ...http://forex-tradingjournal.blogspot.com/2006/09/daily-chart-trading-exit-rule.html Daily Trading Chart Setup- February 9, 2008 I'm into daily chart since my time getting so limited. 3 things need to be watch using this method, on daily chart:Candlestick body & patternStochastic oscillator (5 days period)VolumeReversal: Candlestick reversal pattern, candlestick tail longer than body (body vs tail), oversoldbought stochastic, low volume.Continuation: Longer candlestick body, stochastic in range, high volume.All these indicate price sentiments and market confidence of the day. Forex Trading Journal Some right...http://forex-tradingjournal.blogspot.com/2006/09/daily-trading-chart-setup.html The 4 Year Cycle & the Dollar- February 9, 2008 Artikel dlm Currency Trader Magazine menulis berkenaan kitaran dolar. Penulisnya Marc Chandler & Ezechiel Copic menulis kitaran dolar berkait rapat dengan pilihanraya US. Kitaran dolar ini bertempoh 4 tahun. Kitar usd ini telah dipuratakan seperti rajah jadual di bawah (from Currency Trader Magazine September 2006 volume 3 no 9) :Memetik dari artikel tersebut:"Our experience with floating exchange rates is not sufficient to draw any hard and fast conclusions about the impact of the U.S....http://forex-tradingjournal.blogspot.com/2006/09/4-year-cycle-dollar.html Entry and Exit Strategies for Maximum Profitability- February 9, 2008 Jim wrote:I have received several email messages from readers asking about how to best determine entry and exit strategies when trading markets. Here are just a few of their quotes: "Though my success rate has been high, I am only breaking even financially, due to getting out too early in profit and letting my losses run too far." "Many articles are written showing when and where to enter trades--but how many articles are written about 'running' positions Where to exit surely has to be...http://forex-tradingjournal.blogspot.com/2006/09/entry-and-exit-strategies-for-maximum.htm... Volume Below Average & Price Exhaustion Spike- February 9, 2008 Refer above diagram, the picture tells more than a thousand words. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/09/volume-below-average-price-exhaustion.htm... |