Trade Review 28 June 2007

Thursday, June 28, 2007

Short Gbp/Jpy @ 247.32
Stop Loss: 246.84
Target: 242.79 (28 June 2007)
Note: Huge correction happen. This maybe the final run.

Short Eur/Jpy @ 166.55
Stop Loss: 165.93
Target: 163.56 (29 June 2007)
Note: Huge correction happen. This maybe the final run.

Short Eur/Usd @ 1.3464
Stop Loss: 1.3466
Target: 1.3131 (13 July 2007)

Potential Trade:
Eur/Chf last correction broke the trend. Look for long entry on the next low. Possible entry @ 1.6501

Trade Review 27 June 2007

Wednesday, June 27, 2007

Short Gbp/Jpy @ 247.32
Stop Loss: On your Own
Target: 242.79 (28 June 2007)

Short Eur/Jpy @ 166.55
Stop Loss: On Your Own
Target: 163.56 (29 June 2007)

Short Usd/Jpy @ 123.57 (Screw up entry)
Stop Loss: On your Own
Target: 122.44 (27 June 2007, 5am)
Closed @ 122.84
Reason: Did not hit target on time.
Update: UJ reached the target but 9 hours late. Position already closed earlier.

Short Eur/Usd @ 1.3464
Stop Loss: 1.3480
Target: 1.3131 (13 July 2007)

Still working on time calculation. Hope everything hits on time. Btw this is not a trade signal. These are my actual trade.

Trade Review 26 June 2007

Tuesday, June 26, 2007

Current position:

Short Gbp/Jpy @ 247.32
Stop Loss: On your Own
Target: 242.79 (28 June 2007, 1pm)

Short Eur/Jpy @ 166.55
Stop Loss: On Your Own
Target: 163.56 (29 June 2007, 9am)

Short Usd/Jpy @ 123.57 (Screw up entry)
Stop Loss: On your Own
Target: 122.44 (27 June 2007, 5am)

Short Eur/Usd @ 1.3464 (High Risk = Tight Stop Loss)
Stop Loss: 1.3480
Target: None (Trailing Stop Loss)

Experimental target price and date. time based on gmt+8
For EU short. Forecast target is 1.3130 on the 10th July 2007. Hope it hits

Trade Review 25 Jun 2007

Monday, June 25, 2007

Short EJ @ 166.15 or better
Entry at 166.00
Status : Closed +40
Reenter short @ 166.00
Status : Closed +50
Note : EJ Uptrend was never broken and i missed the long entry. :)

Short EU @ 1.3431
Status : Closed +49
Reenter Short @ 1.3388
Status : Open +4
Note: Closed -20 and enter long. Now holding EU long + 37

Possible Trade:
Eur/Gbp is looking good for a long entry @ 0.6720 or better
Still good for long.

Aud/Usd is looking good for a short entry @ 0.8470 or better
Note: Never enter the short. Still Uptrend.

New Position:
Long Usd/Jpy @ 123.86 (H1)
SL: 123.63
Target: 124.14

Trade Review 22 Jun 2007

Friday, June 22, 2007

Short EJ @ 166.15 or better
Entry at 166.00
Status : Closed +40
Reenter short @ 166.00
Status : Closed +50
Note : Waiting for uptrend break to enter short. Else enter long. At the moment possible trend break is at 165.57

Short EU @ 1.3431
Status : Closed +49
Reenter Short @ 1.3388
Status : Open +4
Note: Not looking very good. Hold position with tight stop loss

Possible Trade:
Eur/Gbp is looking good for a long entry @ 0.6720 or better
Aud/Usd is looking good for a short entry @ 0.8470 or better
Gbp at the moment is too strong to short, even when the opportunity is there think twice.

Trade Review 21 Jun 2007

Thursday, June 21, 2007

Short GJ @ 245.45 or better
Entry at 245.40
Status : Closed -20
Reason : GBP is too strong + good news. Currently at 2nd cut and hurt bad. Waiting for final cut to enter.

Short EJ @ 166.15 or better
Entry at 166.00
Status : Closed +40
Reenter short @ 166.00
Current Price : 165.56
Status : +44

Short UJ @ 121.83 or better
Entry at 121.70
Status : Closed +50
Note : UJ uptrend is hurt bad. Waiting for final cut to reenter

Short EU @ 1.3431
Current Price : 1.3397
Status : Open +34
Note : EU uptrend is over. Hold EU short

GBP and AUD are strong at the moment. Only trade with final cut. EU is down but EJ is still up. EJ is at 2nd cut. Waiting for final cut to hold post.

Trade Review 20 Jun 2007

Wednesday, June 20, 2007

Yesterday signal:

Short GJ @ 245.45 or better
Entry at 245.40
Current price : 245.26
Status : Open +14

Short EJ @ 166.15 or better
Entry at 166.00
Current price : 165.68
Status : Open +32

Short UJ @ 121.83 or better
Entry at 121.70
Current price : 123.41
Status : Open +29

Long Aus/Usd @ 0.8425 or better
Entry at 0.8425
Current price : 0.8466
Status : Closed +30

Possible Trade:

Eur/Usd uptrend is still intact but the strength is broken. Last high was at 1.3436. Possible entry for short @ 1.3445

Gbp/Usd has enter the no trade zone. Trend is still up. Strength is still there. Follow with Stop loss. Possible turn at 1.9897

Forex Signal 19 Jun 2007

Tuesday, June 19, 2007

Based on 4H chart. Purely technical. Intermediate trend.

Short GJ @ 245.45 or better
Stop Loss : On your own
Target : 20 - 400 pip
Risk Level : High

Short EJ @ 166.15 or better
Stop Loss : On your own
Target : 20 - 400 pip
Risk Level : High

Short UJ @ 121.83 or better
Stop Loss : On your own
Target : 20 - 200 pip
Risk Level : Medium

Long Aus/Usd @ 0.8425 or better
Stop Loss : On your own
Target : 20 - 120 pip
Risk Level : Low

There is no specific target as I dont know where the price is heading. Adjust stop loss to the lowest/highest value of every pullback/retrace.

UJ strength is broken

From the way i see it. Usd/Jpy strength is broken but the uptrend is still intact. Anyone care for a high risk entry??

Short UJ @ 123.70 or better
Stop Loss : On your own
Target : This is going to be a big one

And before i forget, EurJpy and GbpJpy is riding on the trendline. Not broken yet but if all goes well we will see it broken by tonight. Then we have the usual ranging market before a new trend is born.

Happy trading.

Marketiva Stop Loss Hunting

Monday, June 18, 2007



This is a picture of Eur/Usd 4H chart on Marketiva platform. See the candle in the red circle. It has a long tail down which touch 1.3370. The price move within seconds down and up again. My Stop Loss was set at 1.3373 at that moment and it stopped out. Below is a picture of Eur/Usd 4H from North Finance. As you can see, North Finance did not register the same sudden price move.



If I am not mistaken, this is the forex market where the rates are the same all over the world. So why is it that Marketiva have that sudden price jump and North Finance did not register it at all.

Eventhough I was stopped out but I still get out with 50 pip profit and i did not enter again as the strength of the trend isnt worth it. Btw my target for that trade was 1.3450. To enter the market again for a maximum gain of another 50 pip isnt worth the risk as the trend isnt strong enough. Any of you had the same problem with marketiva?

Busy With Work

Sunday, June 17, 2007

For the past few weeks, ive been bz with work. As a result I wasnt able to concentrate on trading. So far so good, my account is still in profit.I just need another 30% to meet my target for this month which is 100% profit a month. Most of the time I manage to achieve that target but sometimes I failed.

Last friday before I board a plane to Sandakan, I enter a trade long Eur/Usd and at the moment its up 63 pip. Hopefully all goes well and EU will have another rally.

My current position is:

Long Eur/Usd @ 1.3323.
SL 1.3300
Target 1.3400.

Next monday I have to adjust the Stop Loss since it cannot be done on weekend. Btw project 1 hour system has been scrap. It is so difficult to tade using lower timeframe that I have decided to stick to 4H and above.

Happy Trading.

Free Forex Signal

Monday, June 4, 2007

Here goes. Signal based on my new 1 hour system.

Gbp/Usd
Short GU @ 1.9921.
SL 1.9951
Hold till trend end.

This is a high risk trade based on my new 1 hour system.

Forex System Tester Wanted

Saturday, June 2, 2007

For the longest time, ive been trading using 4h and longer time frame becoz its too difficult trading the lower timeframe. Now ive develop a system for 1h and lower timeframe. I need someone to forward test it. Interested email me at greengo746@gmail.com

William %R

This oscillator, a version of the stochastics oscillator, was developed by Larry Williams.

Interpretation Mr. Williams indicates that the essence of his trading system is based on interpreting readings of %R. He states that, "Generally speaking, readings below 95% give a buy indication - during bull markets. A reading above 10% gives a sell signal during bear markets." He goes on to say that "the %R index will not work if you insist on acting on the buy signals during a bear market." He emphasizes strongly the need to isolate the dominant trend - whether it is a bull or bear trend. Then he tracks price movements with %R and waits for the signals. (See his book, "How I made One Million Dollars... Last Year... Trading Commodities" by Larry R. Williams.)

To determine the long term trend for commodity or futures markets, Mr. Williams advocates the use of a 10-week moving average. The indicator is now popular in most markets and has proven itself useful with stocks.

Like other momentum indicators, Williams %R is not very useful in a sideways market, or trading range. The market needs to be trending up or down for the signals to be reliable.


Signals
Mr. Williams bases his system largely on the use of the following two signals (once again notice that the signal is reliant on the direction of the underlying long-term trend): • Buy when %R hits 90% to 100% and the trend is up.
• Sell when %R hits 10% to 0% and the trend is down.


Some traders use readings below 80% to indicate oversold markets and readings above 20% to indicate overbought markets. These levels can also be used as early warning signals.

In a blow-off market, where prices have undergone a very steep rise, Mr. Williams suggests waiting before responding to %R. For example, he suggests acting on buy signals (assuming the long term trend is up) only after:

1. %R has hit 100%, 2. Five trading days have passed since the 100% reading was hit, and 3. %R again falls below 95%.

Mr. Williams assures us that not all signals will be correct; there are no perfect indices. "Yet," he continues, "%R remains the best timing tool I have ever used for determining overbought and oversold markets."

Williams %R has proven very useful in anticipating market reversals. The indicator almost always forms a peak and turns down a few days before the price peaks and turns down. And vice versa for bottoming markets.

 
 
 
 
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