Euro/ Usd, H4 (2) - 13 August 09

H4 - the chart vertical flip over for better view. See anything familiar? ...

Euro/ Usd, H1 - 14 August 09

Did any of you guys make any profit from the yesterday run, if you look at yesterday prediction you should make at least 50 pips. Now Like I said in yesterday H4 chart, this is the 3rd wave and it's weakening so do not target too far, be cautious up there. H1 is forming a bullish flag, this is a pull back after reaching the 61.8. Let see how far the pull back, once it break the the flag, go long again. Happy Forex

Euro/ Usd, H4 - 14 August 09

H4- touches the 61.8 fibo, looks like it is going be a pull back before it go further.

Euro/ Usd, Daily - 14 August 09

Daily is still moving in the channel, so it's still uptrend for daily unless it break the channel then it will turn bearish trend.

Forex Tips - The "PRO"

Some of you....YA!!! YOU !!! out there, are you trading using 2 -3 or even 4 computers at a time when you trade. You might think that it's cool, felt like a "PRO", but instead you are in the wrong side of the "PRO". The only pro you are in is "PRO"blem, not "PRO"fessional.
It will create dry and tired eyes, confusing and lack of focus. Also you are locking yourself out, WHY?..Let me ask you, can you trade anywhere else other than your forex trading center? What about relaxing at Starbuck with a cup of nice coffee while waiting for the forex trade? How about a trader's dream, going vacation or in cruise and trading along your trip? Can you do any of those? The answer is YES!, only you are a little different than others cos you need to pack so many boxes of computers to ship along, or maybe have a pick up truck to carry your load.
Always think!, in the Forex trading game "THE SIMPLE THE BETTER" . Like one of my mentor said, "How you do anything is How you do everything". It means, if you lock yourself out and not flexible with your tools, then you are also locking yourself and not that flexible with your trade too.
Trust me, I know what I am talking about cos I use to be one of those "PRO" too. Do you know how many computer I am using to trade forex now? Just a mini 10.2 inch notebook, very flexible to carry around, I even can trade while I am having a afternoon tea time with my mom. I love it so much, so free and flexible to move around .... so if you are one of those "PRO", make yourself flexible.

Euro/ Usd, H1 - 13 August 09

H1 shows a very long leg on yesterday candle. If it breaks the top where the top arrow is pointing, that's where you should enter.

Euro/ Usd, H4 - 13 August 09

H4 is currently forming the 4th wave. As you can see that the 3rd wave is same height as the 2nd wave but the pull back for the 3rd wave is much more deeper than the 2nd wave. As 3rd wave pull back is at 78.6 and 2nd wave at 61.8. This means that the bull strength is getting weaker so I would target below 80% of this ride.

Euro/ Usd, Daily - 13 August 09

Just as I thought it would be stop at. It found it support again, it shows that this support is quite strong cos it touches 3 times still can't break through.

Euro/Usd, H1 - 12 August 09

H1 - Now for the clearer picture, you can see the support and resistant level. So there only 2 ways to go now, either up or down. Break up you long, break down you short. Unless it still move side way then another cooling off day.

Euro/Usd, H4 - 12 August 09

H4 - it reach the channel edge and that's the end of the H4 channel and also the bottom of the daily. Some how it will break either way. It still maintain at 78.6 fibo support level.

Euro/ Usd, Daily - 12 August 09

Daily - seems like it is trying to find it's way out. Daily candle losing out on bullish strength now and it also moving at the bottom of the channel.

Forex Tips - LooK at YourselF

Have you ever wonder how are you currently doing and have your strategy improving so far. Even if you are not making money yet, you still to know if you in the right track or have you been improving so far. For me, I kept all my the details and chart every month so that I can view back in few months after. When you look at your previous chart and all the things you did like adding bunch of indicators, buy high - sell low, .....etc, etc. If you laugh at yourself for being such a dummy back then, then you know that you are improving. If you still can't see the mistake you did back then, then you really have problem now unless you are already at Professional level, that's different story. As a trader, you are everything. Just as you are running a business, you are the boss and you are also the employee. If the "Employee you" make a mistake then the "Boss you" need to correct them. Some how, you need to think like a "Boss" and work like employee. What I am trying to say is, when you work, you work as you been told to do as a employee nothing else. But after work you look back all the job you have done but you do and think like a BOSS to see if the "employee you" is making any mistake or not listening to the "Boss you". Too mental!! Of course!!! That's what trading is all about, MENTAL!!!

H4 -11 August 09

H4 - the pull back had touch the 78.6 Fibo and turn back up. 78.6 is also a strong fibo level but for confirmation it must break the 1.4218 then only the trend will turn up for H4.

Daily - 11 August 09

Daily had reach the bottom of the channel, If you notice that the candle for daily is also weakening comparing to the previous one. This might be a signal of the end of the pull back but for confimation, check on the H4.

Forex Life - A Day too Late!!!

Sometimes we think we are a good and safe driver until accident happen, then you might think maybe not so safe after all. It happen when I was driving around Kajang town area and I am reaching toward a "T" junction with traffic light. Suddenly a gold color Proton Wira jump out crossing a non crossing road that I am in. The car in front of me got panic and full slammed on the brake with just few inches to hitting the gold Proton Wira but got lucky and gone through. Not me, I slammed my brake too, but it drag too far and I hit the back of the car in front of me.
To cut the story short..... blah blah blah.. we went to police station to make a report and you know what I found out. The driver in front of me is a bangaladesh with only bangaladesh driving license on him. So that's mean he is driving without license, now he is in trouble. Got slammed with a summon for driving without license and the worst thing is that he will never see his car again. Why or why he went to make a report anyway??? I still cannot figure it out.
Then I got home, another thing make me mad was ..... take a closer look at the bangaladesh's car number plate!!! It was yesterday 4D lottery- 1st price. Why or why it didn't happen yesterday, if it happen a day before then I would have won some handsome price.....Now another worst thing is somebody else mistake and I got to pay for it...Rm300 summon for driving without control, can you believe that!!

Forex Tips - Demo or Live

If you ask me, I would never work on demo for a long time of period. During demo time, you will notice that you never ever be serious about it. In your mind, you will keep telling yourself that this is not real money, if lose...just let it be, after all it's not real money. And you will never get discipline with your trading strategy. Once if you work on demo for too long, your mind set will start to lock into the current method. Another thing also you never will learn to control your fear or emotions during the demo. Once you think you are ready and switch to live account, then you will feel that everything seems to be different. All the emotions start to kick in, and the method you been using during demo also doesn't work with your emotions now. WHY?? Cos if you can swallow such loss in demo without emotions does not mean that you can do it in live...Get it!!!. Watching real money losing comparing to demo is entirely 2 different feeling. Demo for me is just to learn about the platform and other technical, once perfect then move on to live right away. There is no such thing as free bee in this world, all learning takes time and money. Make sure you trade at small lot size according to your emotions limit. If you think that USD 50 of loss on each losing trade will effect your emotions then you need to reduce it down. LOsing without any emotions effect is where you should begins your lot size. Once you are good with that strategy then slowly increase the lot size, that's how you built up your confidents..instead of a big jump.