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.Interest Rate : Why they raise and lower- February 9, 2008 Quite busy, doing things at my grandparents home, but still trading, mostly on london open, and just open 2-3 position weekly.Just some note : Interest rate, why they raise and lowerThey generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown. This come useful when we know the cause and effect of interest rate.Well, that is all for this blog note. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/09/interest-rate-why-they-raise-and-lower.ht... Five Key Factors That Influence Currencies- February 9, 2008 According to ActionForex five factors are the biggest influence on a currency, they are:Non Farm Payrolls UnemploymentFOMC Interest Rate DecisionsTrade BalanceCPI Consumer Price IndexRetail SalesWhile these aren't the only factors (world events also play a role), these are the major ones that are used to gage the health of a currency. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/07/five-key-factors-that-influence.html Buy Sell Stop Test Result- February 9, 2008 I have finished testing the procedure which has been introduce by Elder. It is buysell stop based on the daily chart.The result is i have whacked my test account TWICE! Haha. Not funny.Yet maybe the daily chart is not suitable for this technique since the market is so volatile. Maybe a smaller time frame will do. We will see about that.For now, i just go on with my own SOP. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/07/buy-sell-stop-test-result.html How to Identify High Probability Set-ups- February 9, 2008 Dave Floyd reveals his technique on catching probable profitable trades. His technique is basically using multiple time frames to filter trends and stochastic oscillator to find entries and predict movements. By primarily using 1 hr, 4 hr & daily chart and weekly chart to find key support & resistance, he trades swing trading. To know more please read his articles published at ActionForex:How to Identify High Probability Set-ups How to Correctly Identify the Trend - Part IHow to...http://forex-tradingjournal.blogspot.com/2006/07/how-to-identify-high-probability-set.html Procedure Prior to Open a Position (Update 1.2)- February 9, 2008 Some update added. Rule no 1, 3 & 8. Spelling correction for word analyse. :)Check the trend: Is it upward or downward.Use Daily chart to check the economic trend.Use 4hr chart to check the trend using MACD histogramto check the major trendGo to smaller scale (1hr) to watch entry point (this is explained in rule 2-7).to check the minor trendUse 15min chart to pinpoint the entering point (this is a subtitute method for rule 8, use rule 8 if time is very limited).Always follow the trend of...http://forex-tradingjournal.blogspot.com/2006/06/procedure-prior-to-open-position-update.h... Done Better With Euro Dollar- February 9, 2008 After a while trading GBP I found that my performance is not as good as when I was trading Euro. Maybe because to analyze Euro is easier and more accurate compared to GBP, also GBP is not showing me accurate technical signals. So, starting now I move back to Euro since the profits and my analysis accuracy is higher with Euro. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/06/done-better-with-euro-dollar.html Breakout on Rumors, Technical Trading Week.- February 9, 2008 The past 2 days shows the breakout of dollars on the rumours of the US Feds 50 bp interest rate, I would say that on the opening of the Japanese session next week there will be a gap below current price, and price movement will be on the upside toward around 1.8340 (23.6% of current downside movement on daily basis). After that the price will further decline.Update:25 bp interest rate increase.Bearish dampened. Back to consolidative period. Forex Trading Journal Some right reserved.http://forex-tradingjournal.blogspot.com/2006/06/breakout-on-rumors-technical-trading.html Consolidative Trading- February 9, 2008 GU berada dalam keadaan konsolidasi yang agak lama, mungkin sedang menunggu berita dari Ben Bernanke tentang interest rate yang akan dikenakan kepada USD. Ini menyebabkan market terlantun-lantun di antara siling dan lantai harga.GU sedang mengalami penurunan dari high yang sebelumnya setelah FOMC mengumumkan kenaikan interest rate USD. Kini GU berada atas dari garis 38% retratracement dari kenaikan yang lepas bermula dari April 2006.Keadaan yang tidak pasti antara trader ini memberi keadaan...http://forex-tradingjournal.blogspot.com/2006/06/consolidative-trading.html Tools the Winners Use- February 9, 2008 These are some tips from the expert. Though it's mentioned futures trading in the post, the rules complies well for forex trading. Read :Achieving success in futures trading requires avoiding numerous pitfalls as much, or more, than it does seeking out and executing winning trades. In fact, most professional traders will tell you that it's not any specific trading methodologies that make traders successful, but instead it's the overall rules to which those traders strictly adhere that keep them.http://forex-tradingjournal.blogspot.com/2006/06/tools-winners-use.html Trading Tips from Joe Ross- February 9, 2008 Joe Ross is the owner of TradingEducators.com . These are his trading tips:The Trade DecisionNever add to a losing position.Always determine a stop and a profit objective before entering a trade. Place stops based on market information, not your account balance. If a "proper" stop is too expensive, don't do the trade.Remember the "power of a position." Never make a market judgment when you have a position.Your decision to exit a trade means you perceive changing circumstances. Don't suddenly...http://forex-tradingjournal.blogspot.com/2006/05/trading-tips-from-joe-ross.html |