Wednesday, October 29, 2008

Yesterday was a good day. Seriously 700++ pips from GJ alone. Total of over 1500 pips in the bag.

Its a new day and a new direction has present itself. At moment there is nothing that I can do except to follow the direction. At the moment holding short on GJ, GU and EU. This is a short position that I have to monitor. This is because at the moment, all these pairs are in an uptrend formation.

Satu pesanan kepada murid-murid forex. Ingat waktu masuk kelas forex adalah jam 9 pagi. Apa saja yang dihidangkan pada jam 9 pagi setiap hari perlulah diterima dengan hati terbuka. Jgn sekali kali melawan market. Ini kerana market adalah berkuasa penuh dalam dunia forex. Ingat ye, mulai hari ini, perhatikan jam. Masuk jam 9 pagi, apa saja signal yang ada itulah dia permainannya utk hari tersebut.

Happy trading everyone. I trade during the day, and party at night. Is it ladies night tonight?

Update: 11:50 am
Closed all short position. Looks like its going nowhere. Now waiting for a new direction. Looks like there will be a new direction around 12 noon. Next direction is schedule at 3pm. If the direction of 3pm is a no show then the 12 noon signal will remain till tomorrow. At least that is how I understand it.

Ingat jgn trade membabi buta. Babi buta takkan boleh hidup lama. Jadi gunakan akal dan indicator yang ada dan tidak dilupakan volume dan masa. Jam 9pagi, 12tengahari dan 3petang. Renung renungkan


Tuesday, October 28, 2008

It seems that all pairs are changing direction. I personally dont know if this is a correction or the actual turn. Only time will tell but in the mean time, I am riding it. Long EU and AU at the moment and intending to hold it as far as the trend allows it. Happy trading everyone

Overnight Rally

I like to imagine I am in tune with the markets. My trading record may not agree with this minor flight of fancy, but nonetheless, it's much more rewarding to have a feeling of control.This morning, waking up much earlier than normal, I thought I'd take a look at the section of the Forex world that I follow... the AUDJPY.Aha, not only did we have a nice rally -- an echo of the DOW futures up by

Financial Aid Kicking In

Monday, October 27, 2008

As if things weren't confusing enough. Now we have various types of aid programs starting to impact the credit markets. No, the TARP program doesn't seem to be rolling just yet, but commercial paper facilities and other programs are now active.What does all this mean?To me, it means this. If the world collapses your money doesn't mean squat anyway. We'll all be living off of mushrooms grown


Saturday, October 25, 2008

Just thought I would share a picture of my chart. I have decided to share it since I have to use 3 different settings on 3 different brokers to get it just right. Chances are you will find it hard to get exactly what you see here and what you see here dont tell you the whole story.Its forex anyway. You dont have to get the chart right, just get your head right.

White arrows shows how the price interact with the levels that Ive drawn. Its like magic actually. The wonders of Fibonacci.

Btw, volumes are extremely low at the moment. Do not enter.


Friday, October 24, 2008

At the moment all major pairs are dropping like flies sprayed with Ridsets. Take your position anytime you want. Its a sure winner. No point talking about something like that. Even a noob is making profit now

What I am going to tell you today is what most new comers dont understand. Its about forex market. What type of people can survive in it.

If you were to become a trader, you must be free of all biased, thought, hope and the likes of it. You dont even have to think. Just see where the market is heading and follow it. Dont trade because you think a pair is going to move somewhere. If you think, you are hoping for it to move according to your desire. You are biased towards it. You are going to be punished by it.

Forex doesnt care what you think. It moves for certain reason and a combination of factors. If you dont know the factors or too lazy to do research, all you can do is follow.

One more thing, most people that I know who trades using technical analysis dont take into account the amount of money moving in and out of a currency. Forex is a money market. People are using money to get more or to lose more money. There is nothing inside the forex market other than money. My advise is pay attention on the volumes traded. It is a fact that at times the volume is too low and those times are not a good time to enter the market.

AUDJPY Revisiting Lows

We're down below 63.00 in the AUDJPY market (as I type -- it may bounce).This appears to be a test of the 5+ year low for this pair... google charts. Are we ready for a bounce and the much awaited eventual upward trend?Obviously, I have no idea. However, you can be sure I'm sitting here watching the price action as I type.Right now, we've bounced a bit and are setting up for a possible "tweezer

Betting Against The AUDJPY

Thursday, October 23, 2008

Well, with commodity prices spiraling down the toilet, it's a good time to be short of the AUDJPY.Look, put an SMA 20 on your AUDJPY chart. Load up the 1HR or 3HR chart. What direction is the simple moving average going?That's the trend.So, if the trend is your friend, what's the best direction to play?You guessed it in one... down!If you know how to draw a resistance line, or to put something

Trading The AUDJPY

Tuesday, October 21, 2008

Things are looking much more even-handed today than I've seen in a while.In fact, I was so impressed by the fact that the AUDJPY was following my charts again that I decided to do some trading today. While my account is very small, allowing me to be a bit risker with my trades, I did manage to scoop in about 3.5% of my account's NAV (Net Asset Value) by catching some nice movements.Why am I


Monday, October 20, 2008

Last week was a good trade. It turns out AUD to be the most volatile and combine that with JPY we have a huge mover. At the moment I am still holding my post of AUDJPY from last week.

Its monday again and like usual its going to start of slow. At the moment the strongest currency is AUD and the weakest is JPY. The signal is to long AUDJPY. Entry point is the hard part. You have to figure it out yourself. Advise is to enter on the next pullback.

As for my basic system, I have found the perfect addition to it. It is exactly what I have in mind with a beatiful and simplified way of presenting it. It is so simple that I will not share the screenshot of it. Since anybody can trade with such a simple indication on the screen.

Forgive me if I am not willing to share since its my work of art for the last 2 years. I am still looking for open forex tournament. Anyone knows any tournament which I can test out my system?

Fundamental Market Conjecture

Saturday, October 18, 2008

Be warned that for some reason I remain a perennial optimist.It strikes me that a lot of the current analysis is based on credit spreads and other esoteric measurements with an eye towards what current values would have implied during past periods.I'm not saying that this analysis of fundamentals is wrong, but consider this for a moment. Every time something surprising happens we end up looking


Friday, October 17, 2008

At the moment EUR is stronger compared to GBP. EUR manage to hold its level while GBP has break a level and is hanging mid air. Beware of your GBP trade.


Most of people trading Forex that I know will trade based on pairs. They will trade EU, UCAD, UCHF etc. They trade based on individual strength of pair. Lets look at it from another direction.

When we trade EURUSD, we are actually comparing the strength of EUR and USD. Which ever is stronger we will be buying it in order to be profitable and vice versa. It is true that pair such as EURUSD will move based on fundamental and technical factor. What if we compare USD to 3 other currencies such as EUR, GBP and AUD. If you look at the chart closely you will see that sometimes these 3 pairs break the trend at once. Meaning they are syncronize.

The way I see it, if all 3 currencies of EUR, GBP and AUD becoming stronger compared to JPY at once. This is a sign of true weakness of the JPY and a huge move is going to happen. These moves can be seen once or twice a week only but it will give a huge return.

Let illustrate this for better understanding. This is just a simple example using MA. I am sure you can do better with more advance indicator. Below is chart of 3 pairs. GBPJPY, EURJPY and AUDJPY. At the yellow line, we have MA cross at the same time. See what happens afterwards. Basically this is the idea, I am using RSI to filter the noise and trade those 3 inline moves. Thats how I make money last night. I used MA, RSI and Heiken Ashi.

I would like to know what do you think of this system. Its a system because I am trading it again and again with success. Let me know what you think and your idea in order to filter it.


I kept on trying to implement new things in my trading style but the truth is my basic system gave me this result this morning. Looking for ways to improve or there is no room for improvement


Thursday, October 16, 2008

Last night GU really did go up over 100 pip and then decided to go down. Luckily I have moved my stop loss and gain a little last night. I do not trade the move down since I am not infront of my pc.

Its forex anyway. You cannot have it all.

USD and JPY. The pairs are inline now. Soon there will be a big move.


Wednesday, October 15, 2008

Being the strongest of them all at the moment, GBPUSD is flying. This is the initial charge. Like many other breaks before, it will take a rest but not anytime soon. EURUSD is following close behind in term of strength. Maybe some of you didnt know, the EU actually broke the trend on the last spike before the break. AUDUSD is under par at the moment.

For JPY pair, mainly GBPJPY, EURJPY and AUDJPY they are still turning. Slowly moving up. For GJ this move is the 2nd try and it broke the resistance but there is a catch. JPY is not as weak as USD it seems. So shorting JPY may not be profitable as selling the USD. Eitherway, the resistance is being broken now, but in terms of strength, GBP is still under par. Anyone who wishes to try their luck on JPY pair can buy on the next pullback since its not that strong, the next pullback is coming very soon.

Btw, I only trade 2 currencies which are USD and JPY. In order to be profitable, I compare the strength of these 2 currencies with 3 other currencies GBP. USD and AUD. I monitor and trade only 6 pairs. They are GBPUSD, EURUSD, AUDUSD, GBPJPY, EURJPY and AUDJPY.

Did you know that when all 3 USD pairs broke the trend at once, there will be a huge move going to happen. So the next time you see the 3 planets are inline, watch out for the devil. Diablo is coming.


I am writing this to get some opinion. Let say that you have develop a system. It may not be the holly grail but you manage for forecast turn and correction most of the time. People kept on asking you to share it. They want you to teach them the secret. What would you do?

Back to trading. GBPUSD downwards movements is declining rapidly in strength. It may turn around and fly away for real but as you understand, it takes time to turn. Just sit back and watch. If you are in profit, advisable to get out now. GBP is the 1st choice for long position. Be it GBPUSD or GBPJPY. It is the strongest of the all.


Tuesday, October 14, 2008

As predicted last week, the pairs moved upwards but now its going to do some correction. A huge one if you ask me.

So rileks, enjoy the ride. It is going up but it is no superman. I pity those people who are currently trying to push it up right now.

Market Rationality?

With some major changes happening on a global basis it's just possible that the forex markets will return to rationality.For example, the Yen crosses (the carry trades) have been taking off like a shot today. I know I've been mooing about a possible bottom here and there in the face of mass panic and extreme volatility as indicated by the VIX.Was that it?I hope so, but at the same time there is

VIX Ahoy 2

Friday, October 10, 2008

Did I mention the VIX was high yesterday?I meant that it seemed to be getting a bit heated.Today the VIX is high.Tomorrow? You tell me.

ECB Liquidity Changes

I noticed something in a news item that I read today that I thought I'd share.While the big news is focused on the coordinated drop in central bank rates, the ECB did something else. They also eliminated their auction system. No, no, they haven't stopped providing liquidity, they are just doing it a different way than the standard auction process.What now?They are making unlimited amounts

VIX Ahoy

So, we didn't have any type of bounce off the AUDJPY recovery support trend line. If you were watching the DOW or the NIKKEI you knew what was happening.At the same time we have a new high water mark in the VIX. Look at that thing. I mean, seriously?The only thing I can really point to that may be encouraging is that these higher VIX levels don't seem to be equating to lower lows in the


Thursday, October 9, 2008

Previous signal of GBPUSD and USDCHF still holds. Eventhough GBPUSD decided to do one more move down, it has exhausted all its strength.

Trade of the week belongs to AUDUSD.
Believe it or not, the weakened AUD has grown strongest of them all. It will have huge move upward in weeks to come. My advise it to long AUDUSD at the best entry you can find. AUDUSD is expected to make a move down in the next few hours. Be ready with your entry. The last low of 0.6445 is your benchmark. Do find your entry around there.

Another strong turner.
GBPJPY is a strong turner. It is the 2nd strongest of them all. Take your long entry on the next low and hold for weeks to come. I forecast a move upward that will take at least 2 weeks and pip of thousands.

I do not give exact entry point coz both pair have overshot the weekly level. Take you entry based on last low and good luck to us all.

AUDJPY Technicals

I'm looking at my AUDJPY trend line.We've seen some good movement, recovering from the recent meltdown in short order... probably due to the coordinated rate changes.While I like the move I think we're getting to the top of our current trading channel. How we handle the reversal, assuming there is soon to be one, will set the tone of the next couple of days.If we bounce back up on or before the

Carry Trade Musings

Wednesday, October 8, 2008

Did you see the carry trades collapse today?Neither did I.In fact, things looked downright orderly. Nay, they looked rational. Is this a trick or have all the truly skittish abandon ship at this point?Be warned, I'm almost always too quick to look past current issues, discounting the ability of the current situation to cause additional convulsions before passing. However, with that said, I'm


Tuesday, October 7, 2008

As of writing, USDCHF has broken the trend. It should go down soon but now its ranging. Your entry should be somewhere around the last high. As for me I will be looking at 1.1460 level.

Good luck


It seems that GBPUSD has turned, but we still have time. I manage to snatch 80pip and get out. At the moment I am no longer holding any post. The signal as follows

Long GBPUSD @ 1.7440 or better
SL = 50pip. Try to find the best entry possible. It is in ranging phase now
TP = 100 pip or more or hold till I tell you to close

AUDUSD 0.7220

EURUSD 1.3475

Good luck is the brutal world of forex

Aussie, Aussie, Aussie

Oi, Oi, Oi.Yeah, okay, it's a big honking rate cut.Scuttlebutt has it that there might be some coordinated activity in the works, which this RBA rate cut is a sign of.I'm a bit skeptical of this, but you never know.However, with their rate now down "all the way" to 6.00 percent, a very high employment rate and a huge public works infrastructure project in the pipeline, funded by recent record

Europe Gets Crushed

Well, it's been an interesting 24 hours on the Forex markets.I'd like to say I was on top of everything and made a boatload, but instead I have to admit this has been a lesson style experience. My stops were hammered mercilessly and then the markets dumped me unceremoniously on the pavement. So to speak.I guess the theme of the day is weakness in Europe. Another theme might be strength in


Saturday, October 4, 2008

This was an article I posted last year. I took it down due to some agreement between me and Henry Carol. It seems that he forgot about it and forgot to fill his end of the bargain. Furthermore I notice his website claims profit of 1420pips on March this year. Kind of hard to believe if you are in my position. Keep on reading on the original article and maybe you can understand why is it hard to believe for me. Hopefully this article can give you some ideas on what is going on.

Lately I found myself having very little time to trade. On August 07 I only traded for 3 days due to my day job requires me to travel alot. So I look around the internet for an account manager. After looking around I've decided to let someone whom I once bought signal from to manage my account. Below are his details.

YM name = double88forex aka Henrycarol
Real Name = Leong Tian Su
Maybank A/C Number = 108011745015
Phone Number = +6017 888 0963
Website = http://www.profitpips.com/

He is an IB for Northfinance.com, meaning that anyone who open an account under him will entitle him for commision based on trading volume. The more you trade the more he earns.

After showing some impressive account statements, and promise for a target return of 50% a month I finally handed over the account to him. You can click on the picture to see the result of his trade. It is pretty impressive to see what he can do with USD2k in 2 weeks time.

As you can see he totally lost it in 2 weeks time. After he lost it, he just say that he is being reckless and asked me to fund the account again so that he can trade again. What you guys think I should do?

Money I have and money I can find, but the hardest thing to find is responsibility and friendship. You will be surprised at how easy it it a human can be bought by money. You guys might say USD2000 (RM7000) is a lot of money to lose but know this, I have lost more money to people whom I know as friends. These 5 years I have friends that borrow money from me for a total of RM12,000 and I have never seen the money back. Once they have got the money they will just avoid meeting me.

This is a sad story of how I lose my spending money. I hope that all of you out there can be cautious about who you give your money to be it online or offline. This is because once a friend borrowed money from you and he decided to split you will lose money and friendship. They just dont understand that all the power and money in the world counts for absolutely nothing when you are alone. Which is it that you want? More money or more friends?

Anyway back to trading, fasting month is a month of rest for me. I can spend more time in the office so I have time to trade. Last week I gain 10.99% of my account. Hopefully I can maintain that till end of the month. Happy trading everyone.


I forgot to mention one thing. On top of the USD2000 there was also a setup fee of RM300. I totally forgot about it and that is why I didnt mention it on the above post.

After I posted this story, Henry Carol contact me again via YM with an offer. Take down this story and he will return me the setup fee of RM300. What you guys think?? Good offer or not?

Seeing Beyond The Bailout

Now that the US bailout package has been passed the question on everyone's mind is what happens next?Nobody knows. Conversely, everyone knows!Once the question of government action has been answered we know that the currency markets will move either up or down. Basically, the only time they are in near stasis is when speculators and investors need the next piece of information in order to

Good Trade so far

Its been a good week. Last week I posted signal for UJ and GU. I was hoping UJ to make the move but instead GU has done it. Over 1000 pip move. UJ is undecided due to the US economic situation and the 700b bailout plan.

At the moment I have closed all post. GU and GJ is making the strongest move of turning but it wont turn just yet. If you are used to these type of market you will understand that it will take time. So next week hopefully all goes well and a trade signal will come up.

Looking at the chart GJ is closer to breaking the trend compared to GU while AU is going flat now. The rest is slowing down except UJ. I dont know where its going.

Happy trading and see you next week. Hopefully :)

Close Your Eyes

Thursday, October 2, 2008

Okay, so it doesn't look like anything at all is happening as of yet. Personally, I'm scalping the EURUSD on the 1 min chart this evening.It seems that nobody is willing to assume that the house will pass the bailout bill this time around. So, once again, we find ourselves in a state of financial stasis. In fact, given the rise that occurred on the original announcement, it may just be that we

Open Your Eyes

Wednesday, October 1, 2008

With revived expectations of a bailout package to be voted on this Wednesday evening, it's not hard to spot some double bottoms and double tops on various charts. Okay, maybe not perfect classic formations, but nonetheless, worthy of note.Obviously, there is no guarantee that the bailout package will be adopted. There is also no guarantee that these formations will complete and activate.However

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