Forex Trading

This week nothing to do.
Do nothing.

AUSUSD week9

On 2/5/2012 Australia bank has announce to cut interest rate to 3.75%, because inflation is low, the economic growth is slow. This is a fundamental change, there is no hope for a rise at this AUD USD pair. I haven't close the position, and results in bigger loses. Anyway I will not hesitate to cut out loses on next market day (Monday), no matter what.

AUD/USD week8, 1st Profit Taken

This week the AUD/USD raised. I have took the profit for the $0.10 lot size position. Making a profit of $9.30 dollar.

Below is the chart and the open position I remained. Let's see if next week it hit some major resistance, I will take profit again. Well, I earn the exchange rate and also the interest at the same time.

By the way, the results I posted here is just my mini account. I do have a standard account with CMC Markets, investing with similar strategy. That account makes very handsome money, at least to me. Because maybe got millionaire reading my blog, under 100k consider small amount maybe :p
so I don't post that account here.

Trading Update week7 on AUDUSD

AUDUSD closed at 1.0372 this week as shown in the daily chart below.

This week AUDUSD is going sideways, is a sign of trend reversal. Since there is a trade deficit risk in Australia, I don't expect the price can surge very high. I expect to close all the position at some price around 1.0500. In that case, 0.10 and 0.50 lot size positions would have made profits, just the 0.01 lot size position lost. Well, that is my strategy, first entry is a psycho test, so the lot size is small.
Let's see what happen next week.

Trading Updates week6 on AUDUSD

My Trading Journal, AUD/USD pair:

Today I take a look back on my first open position on this pair (AUDUSD), I just realized that it was opened since 6th March. I have been holding on this trade for 5-6weeks already. Well, nothing special though, I just thought time is flying. 

Let's see how this pair performed in the last week. Here is the chart. A daily chart.

So, let me explain the horizontal lines and vertical lines I drawn on the chart.

The horizontal lines are the Fibonacci lines which acts as supports, and if you take a closer look at the green dotted lines, these are the entry long position I had made. And take a look at the bottom of the chart, where it shows my trading records. Look at the AUDUSD pair, then you will notice the first entry position I put is just 0.01 lot size, the next is 0.05 and subsequently is 0.10. This is my strategy to accumulate my position in a falling market.

Next, look at the vertical lines. The first red line is the time where market starts to fall, the second red line is the bottom of the fall (just based on my belief), and the yellow line drawn at May 28th should be the top of the rise. So all my open buying position should be cashed out sometime around before May 28th.

Well, what had happened to the markets in the last week? Hmm... nothing strange, everything looked just as expected. So, nothing to comment here. See you next week! 

Oh ya, forgot to mention about the red dotted line. The red dotted line is the TP (take profit). If the market hit that level, my 0.05 lot size opened position will be cashed out. 

Ok, let's see how this AUDUSD pair performs in the next week. See you again!

Forex Personal Report

I have been trading Forex since 2009. It has been 3 years now from, in these 3 years, I burst several accounts and lost quite significant amount of money. After going through all the ups and downs, I got improved, more seasoned, and I finally able to made money sometime last year. This is life changing milestone. I am reshaped and redefined the strategy based on my experience and cosy lessons. Here is my trading report.

See, this is my new account which started last year early-November, now is mid-April, I have been trading for 5 months. I made 13% (USD82 / USD600), wasn't that bad isn't it?

These few weeks I interested in AUD/USD pair. From my theory, It should have reached it's bottom already. I have been accumulating this pair for few weeks. Let's get back to this picture next week or next month to see what happened.

Caution

CAUTION. I met a young guy read stock's news at Larking bus station during my journey from Singapore to Labis. I heard someone chatting about stock in a lift. I received many many newsletter from brokers promoting stocks. What this means to me is that peak of the stock price is not far away.

I am hereby to announce that market is now in the last wave of economic cycle. Which means that most of the stock will rise, regardless of it's fundamental prospect. The period is, based on my experience, would be between 6-12 months long. Significant bad news bound to occur after 6 months and not longer than 12 months.

At this current market, I will not purchase any more stocks, but I will not sell either. Just do nothing. Within next 12 months, stock will soar and reached its peak (peak at ~June 2013), I will consider sell some stocks at June 2013 (should have some bad news by mid-2013). And then maybe ~June 2014, stocks reached its bottom. I will probably collect stocks from Jan-June 2014. This is my strategy for the next 2 years.

I may be cool at this blog now (no active blogging), because market is hot.
By the way, I will still try my best to answer any questions.