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.

Forex life - What a good spread!!!

I am having my good DVD movie time at home on the Sunday afternoon. Thinking better to stay at home since out there is not a good day to go out after the ISA protest, and the traffic is really bad all over town. Then suddenly my phone's sms ring tone keep making noise. As I check my sms, it's from a good friend of mine and the sms is in mandarin and with a link to another blog page attach. Well, I am a dummy when come to reading any mandarin words. Thank god my wife is mandarin educated. As she read the sms, with a quick response, she quickly rush me to turn on the blog link that attached to watch the video about "you know who". We watch and watch for few times, it really am disturb us watching those officer abusing their power. But after read the writeup in the content only we reliase that it's not the person that mentioned in the sms. In just few mins time, my in law from penang called. Patric, she said...quick turn on that blog to watch!!. My reaction will be " WOW"!! it reach that far already huh. Then surprisingly, another sms ring tone along with a phone called from another good buddies, wow!!...the same topic again. Just imagine, just in 1 day alone the news had been spread all over the place with such a speed. This is to tell us the our nation do really care and the nation are looking for a better change to humanity rights in the country we are living in.

Forex Tips - Strategy ??? or Money???

What actually are you first aiming for in forex trading? Well, the answer is simple, everyone is aiming for the same thing, to generate more income. That's mean you aim for money first and your mind is and eyes would only see money. Your mind is full of "money,money money" and only think about how to make money instead of how to trade better. Every time you are in your trade, your mind is full of money making method not trading stragtegy. That's one of the main failure of becoming trader. A trader does not think about how much they can make in their trade, instead is how far their profit can go and how less the loss if it trun on them. Finding your own strategy is the most immportant thing. Once you found your own strategy, you can make as much as you want with the same strategy, only with a bigger size. Example - if you are making 20pips daily in average with the size of 0.01/Usd 0.10, in 22 days of trading you are making USd 44.00 per month. And with the same strategy, but only this time you increase your lot size to 1.0 instead, now you are making Usd 4,400. You see, how the calculation works here. Make sure you follow step by step in the increasing lot size process cos by too high jump of lot size will effect your emotion stability.