USDCAD Edges Lower

Saturday, September 29, 2007

Okay, if we were at bottom a few days ago, it was only a soft bottom!Right now, according to the charts I'm viewing, this pair is trading at 0.9925, which is nearing a penny below parity. I can hardly imagine what such a drastic change in rates, worldwide, truly means to the state of global economic affairs.Perhaps the current administration has done the unthinkable? Perhaps the US predominance

USDCAD Once Again

Thursday, September 27, 2007

Okay, I think it is nearly safe to say that the USDCAD has hit bottom.Heh, actually, it's probably not safe to say, but it has certainly found some support at and above the 0.9950 level. I think that the downward pressure from speculators has now eased.I also think the downward jump has been overdone.However, assuming I'm right, and I'm finding that often I am, I don't know how long it will take

Missing the USDCAD Bottom

Saturday, September 22, 2007

Well, I'm not sure if the USDCAD has finally hit bottom or not. It's around parity today which is pretty much what people were talking about.Now, I did purchase some before parity. So, I'm underwater, holding my breath, wondering how much time it might take before I'll notice some buoyancy and float back to the surface.I guess this makes me a swing trader, because now I'm looking at holding my

Financial Excitement

Wednesday, September 19, 2007

There has been a lot of frenzied action since yesterday's Fed rate cuts.Personally, I've activated an account with OANDA. They allow very small accounts and any size of trade. Also, you can trade less common currency pairs at reasonable spreads. For example, during normal trading, the spread on the EURUSD is usually 0.9 pips. That's great!Anyhow, more experiments under way.I've got some

Bottom Spotting the USD/CAD

Saturday, September 15, 2007

Down and down it goes, where it will stop, nobody knows.Just how low can the USD go compared to the CAD? Parity is an option. Below parity is an option. However, there have to be some fundamentals that come into play here. The amount of trade between the USA and Canada is huge!Traditionally, the USD has always sat above the CAD.Anyway, I'm not sure parity or below is realistic. I'm starting

The EUR/TRY Carry Trade

I'm dabbling in the EURTRY carry trade situation.Due to the difference in interest rates you can pocket a bit of change as long as you maintain your short position. Obviously, however, nothing is free. The EURTRY market has a lot of volatility complete with sharp price spikes on the order of 1500 pips!This means that you cannot leave a position completely open or you will risk the value of your

Market Not Active

Friday, September 14, 2007

For the past 2 weeks the market is not very active. Just now its starting to move. When the market is not active I rarely trade and even if I do trade it would be small TP and SL. At the moment I have 2 post newly open. Its in profit now just hoping for a bigger return.

When the market is not active, I do other things. In these 2 weeks, I have upgraded my pc and car. Pc and cars are my hobby now.

My PC:
At the moment I have 2 desktop and 1 laptop. I wanted to buy a new pc but if I do buy a new pc I will have 3 desktop which is an overkill for me alone. Im not about to open a cyber cafe at my home.

Upgrade Spec
1. Abit AN9 32X RM570.00
2. AMD Athlon X2 +4000 RM235.00
3. Kingston 1GB DDR2 X2 RM278.00
4. Geforce 8600GT RM395.00
5. 350W Power Supply RM110.00

My pc upgrade cost me RM 1,588.00

My car:
I also upgraded my car ekzos system and intake system. It is an upgrade long overdue since the original piping already have holes here and there.

Upgrade Spec
1. Complete ekzos system + muffler RM305.00
2. Intake pipe + K&N filter RM400.00
3. New Head Unit. Now can play SD directly RM398.00

My car upgrade RM 1,103.00

guess what, at the moment it is much cheaper to upgrade your car compare to upgrading a pc.

Then I was looking around the net and found this website. It sells magnetic bracelet. Sort of Bio Magnetic Therapy. I go and buy one and wear it. The first time I wear it, I felt dizzy like I was drunk of something. I cannot even smoke cigarette any more. That night I had a good night sleep. The best sleep since a long time. Its like someone switch off the power. The next morning its all good. Looks like Bio Magnet Therapy really works. The bracelet is good looking, it give you bio magnetic therapy and also its a MLM business. Personally I dont do MLM anymore but since the bracelet is giving you a chance to actually make money, its a very good deal. Not only does it looks good, it keeps you healty and give you good opportunity make money.

Its 3 in one package. Looks good, Feel healthy and make money. woooooo. Anyone interested can contact me @ 016 8178343.

Trailing Stop Strikes

Well, whether it is a small correction or not I have no idea, but the USDJPY has gone down enough to remove me from the market. So, my profits have been pocketed and I need to look for opportunities to get back in.The same is true for my AUDUSD holdings.I'm starting to look into the USDCAD, in the long term, but there is always the risk that the US dollar will take a dump when the Tuesday

Riding the USDJPY Train

Thursday, September 13, 2007

Well, imagine my surprise to wake up to a hugely profitable swing in the USDJPY.It's too bad that I wasn't awake during the action. I could have increased my position on the way through and grabbed stupendous gains from it. Anyway, I cannot complain, as I've added almost 10% to my account.Isn't it great when you accomplish great things in your sleep?Of course, I should note that I did have some

Minimal Participation

Sure, you want to have as much capital as possible involved in an upswing, but it's painful having a stake while the market slides.Unfortunately, you have to keep dipping in your toe. At the apparent end of a long slide, or when a correction appears to run its course, it's time to dip in that toe. What happens when you end up tossing your coins into the fray and the market rejects your advances

Riding the AUDUSD Upswing

I've been riding the recent AUDUSD increase.Now, I have some competing issues on my mind. As the AUDUSD hits new highs I have to worry about corrections. However, if this instrument is going to continue rising, I'd hate to not maximize my participation. See my previous post about having to play to win.Anyway, while a more experienced Forex trader might not have to "figure this out", I've

Gun Shy

I'm still a little gun shy.I see little dips and corrections, which is only to be expected, and my stress levels go through the roof. That's what I get for playing across the recent job reports news last week.All I can do is remind myself of various cliches. You have to play to win. No risk no reward. Buy low sell high. No guts no glory.I suppose all this concern is healthy. It will

You Have to Play to Win

Wednesday, September 12, 2007

Well, now that I've exited most of my positions profitably, I'm paranoid. What if I put in some more cash and the market takes another massive dump? Heck, it has been a long upward run so I'm sure a correction is brewing at some point, right?You have to play to win.If I sit on the sidelines and fret away the day I'll get nowhere. What I need to do is participate in a guarded way. What I

Every Day Feels Like Sunday Baby

Tuesday, September 11, 2007

I don't know if you'll remember it, but there was a commercial on CNN a while ago that had this song. It would talk about stocks, making money and how great trading the NASDAQ was. Something like that anyway.Well, when the markets are moving in your favor, every day feels like Sunday.Yes, indeed, my pip grinding slogfest has been ongoing since Friday, but things have improved so much since then

Grinding Out the Pips

Well, I've been grinding away at my open positions. Catching the tops of candles and buying in again at the bottom. I guess that means I'm fairly good at reading the short term charts with respect to top and bottom behavior.I've got several dozen trades in the past couple of days. It's probably a little too much work to bother transposing all the data.Suffice it to say that I had some

How The Market Move

Monday, September 3, 2007

After looking at charts for over 1 year now, I have made a conclusion on how the market move. It may differ from other people point of view but at least this is how I made profit or loss in Forex Market.

The Market generally move once or the most twice a day. That is how much Forex market move. There is no point on being stuck in front of the pc the whole day since it will only move once. If you dont belive me look at any pair in timeframe 1 hour or less. Forex doesnt move in straight line but it has a tendency of moving to a particular direction in a zig zag motion.

The idea is to develop a system or set of indicators that will give you an entry early enough for you to profit when the market makes its move. There is no way you can tell the move before its moving. The price must move at least a little to a particular direction before you signal is triggered. Then you enter the market and take the remaining move.

The system must only give you signal once a day or twice the most. Because its a daily trade dont expect much. Sometimes condition are bad even 5 pip is enough. You must remember that if you are trading less than 1 billion you are small fish in the sea. Take what you need and leave or else get eaten by the big fish.

In developing the system that will take advantage of Forex movement characteristic, I sense that I have succeeded. I have a system that will give signal only once a day or twice the most. Like most Forex system in the world, there are difficulty finding the right entry and exit point. An entry and exit that will give you the most out of the move before it will retrace.

In the end, its about how and when you enter. There are no room for mistakes here since mistakes are costly. From the very 1st trade you make till the last trade, the risks are all the same. Experience is an advantage but its not an insurance. Once everything turns bad, there is no saving you.

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