Having trouble log in into blogger account lately. Forex is not going anyway at the moment. Up and down it is still at the same level.
Currently I am watching for a certain level in GbpUsd. 1.4650 is the level I am waiting for. Believe it or not, I have not traded this week. Today GU nearly hit my stop order. I am still waiting
Thursday, May 13, 2010
EURGBP DROP
Yesterday I wrote about EG connection. Guess what, I took the whole EG drop and run away with it. Right now all live post on EG is closed, profit in the bag :).
I was so confident on EG drop I was betting 50% of my capital on it on 1 post only. Quiet a risk and really worth it. I feel like I just won a horse race :))
EU still up there and there is a killer spike up to 1.3537. Atm I on sideline watching for opportunity.
Fing lol email me on your progress. Really like to hear how you are doing.
I was so confident on EG drop I was betting 50% of my capital on it on 1 post only. Quiet a risk and really worth it. I feel like I just won a horse race :))
EU still up there and there is a killer spike up to 1.3537. Atm I on sideline watching for opportunity.
Fing lol email me on your progress. Really like to hear how you are doing.
Wednesday, May 12, 2010
THE ENDING IS NEAR
1,447 days ago I started to step in the world of Forex. 6th May 2006 is the day I registered my 1st demo account and its a Saturday. Through out my journey in Forex, there are no actual manual, text or books that I can really refer to. Its like an unexplored land with no maps what so ever. There are only guides available online with no one giving specific answer.
Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle.
Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX".
I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management.
What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier.
For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.
You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway.
Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been there.
Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle.
Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX".
I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management.
What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier.
For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.
You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway.
Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been there.
Tuesday, May 4, 2010
Demo account?
Beginners should always start with a demo account or practice account. Most of the leading currency brokers dealing in fx online trading offer demo account. Account opening is simple – Register on the website of the broker and download currency trading software. It hardly takes few minutes to start trading currencies.
1. What is a Demo account?
Demo account is essentially a practice account where you can do everything that fx trader does in a live fx market.
2. How does a Demo account work?
When you open a demo account, you are allotted a notional sum of 50,000$. Sum varies from broker to broker. Validity of demo account varies from 30 days to 60 days. With this virtual money of 50,000$ you can buy/sell foreign currency in a real fx market without any fear of loss of money.
3. What are the major benefits of a Demo Account?
Demo account is a great way to get a real handle on the features and functionality of fx trading platform of the broker. Demo account is the best option to learn A to Z of foreign exchange trading right from the types of orders up to the technical analysis and currency trading strategies.
Demo account is an ideal solution to get rid of the phobia of getting started with foreign exchange trading.
1. What is a Demo account?
Demo account is essentially a practice account where you can do everything that fx trader does in a live fx market.
2. How does a Demo account work?
When you open a demo account, you are allotted a notional sum of 50,000$. Sum varies from broker to broker. Validity of demo account varies from 30 days to 60 days. With this virtual money of 50,000$ you can buy/sell foreign currency in a real fx market without any fear of loss of money.
3. What are the major benefits of a Demo Account?
Demo account is a great way to get a real handle on the features and functionality of fx trading platform of the broker. Demo account is the best option to learn A to Z of foreign exchange trading right from the types of orders up to the technical analysis and currency trading strategies.
Demo account is an ideal solution to get rid of the phobia of getting started with foreign exchange trading.
Forex brokers
Forex brokers or forex brokerage firms act as an intermediary that facilitates order routing between the buyers and sellers. With rapid development of forex markets, brokers have transformed into full service agencies. Forex brokers offer vast number of innovative features and services instead of just acting as the dealers. Forex brokers fall under two categories – small and medium brokers and large and heavyweights like financial institutions or banks.
If you are a potential investor in the forex currency trading then your first step in the right direction is to choose a reliable forex broker. There are many important factors that need proper due-diligence in order to select professional forex broker. It is indeed a daunting task for the beginners. This article intends to provide a comparison between forex brokers operating in and around UK. Comparison is centered on UK because UK plays a very vital role in the entire global forex markets and due to its dominance in the global forex markets, majority of the forex brokers provide their services in UK.
Table given below shows a comparison of forex brokers based on the most important parameters viz. leverage ratio, pip spread, and minimum deposit. We have selected about a dozen plus leading names from small/medium/large forex brokers who are registered under NFA (National Futures Association, USA) or CFTC (Commodities Futures Trading Commission, USA) or FSA (Financial Services Authority, UK) or any other global regulatory authority.
If you are a potential investor in the forex currency trading then your first step in the right direction is to choose a reliable forex broker. There are many important factors that need proper due-diligence in order to select professional forex broker. It is indeed a daunting task for the beginners. This article intends to provide a comparison between forex brokers operating in and around UK. Comparison is centered on UK because UK plays a very vital role in the entire global forex markets and due to its dominance in the global forex markets, majority of the forex brokers provide their services in UK.
Table given below shows a comparison of forex brokers based on the most important parameters viz. leverage ratio, pip spread, and minimum deposit. We have selected about a dozen plus leading names from small/medium/large forex brokers who are registered under NFA (National Futures Association, USA) or CFTC (Commodities Futures Trading Commission, USA) or FSA (Financial Services Authority, UK) or any other global regulatory authority.
futures trading
Efficient order management, live charts, real time market quotes, commodity forex news and analysis – these are few of the necessary elements required by a trader for commodity forex trading.
Majority of the commodity forex brokers provide fully integrated and customizable futures trading platforms without levying any additional charges or license fees. Some of the brokers may grant free access only for web based or browser based trading software but for java application based software they impose one time license fees or insist on minimum commitment on brokerage business.
What should you expect from futures trading platforms?
Look out for a state of the art futures trading platform that works on application based software and that offers:
* Multi segment platform that can allow trading across various exchanges and markets such as E-Minis, Globex commodities and forex, pit traded commodities and many other global futures markets.
* Live streaming quotes, market depth, multiple market windows, fast, reliable and efficient order management.
* Facilities to trade directly from the charts.
* Surfeit of technical analysis, charting and other analytical tools like options calculator and currency converter to develop trading strategies.
* Real time access to global news, fundamental research and technical analysis.
* Demo version with a demo user id and password. It helps you get a complete idea about various features and functionalities of the futures trading platform.
Majority of the commodity forex brokers provide fully integrated and customizable futures trading platforms without levying any additional charges or license fees. Some of the brokers may grant free access only for web based or browser based trading software but for java application based software they impose one time license fees or insist on minimum commitment on brokerage business.
What should you expect from futures trading platforms?
Look out for a state of the art futures trading platform that works on application based software and that offers:
* Multi segment platform that can allow trading across various exchanges and markets such as E-Minis, Globex commodities and forex, pit traded commodities and many other global futures markets.
* Live streaming quotes, market depth, multiple market windows, fast, reliable and efficient order management.
* Facilities to trade directly from the charts.
* Surfeit of technical analysis, charting and other analytical tools like options calculator and currency converter to develop trading strategies.
* Real time access to global news, fundamental research and technical analysis.
* Demo version with a demo user id and password. It helps you get a complete idea about various features and functionalities of the futures trading platform.
Forex Symbols:
Forex Symbols: There are seven most active currencies on the forex trading markets, besides number of other currencies that are traded sporadically.
1. US Dollar – USD
2. European currency – EURO
3. Japanese Yen – JPY
4. British Sterling Pound – GBP
5. Swiss Franc – CHF
6. Australian Dollar – AUD
7. Canadian Dollar – CAD
Forex Pairs: The term Forex pair may sound intriguing to those of you who are used to stock trading. Why forex in pairs? Well, even in stock trading, indirectly you are trading a pair. When you buy a stock, you are selling your money and vice versa. Similarly when you are trading forex you are buying once currency and selling the other currency. EURO/USD, USD/JPY, GBP/USD and USD/CHF are the most traded forex pairs that churn out the bulk of the daily trillion dollars turn over in global forex trading.
On any forex trading platform, you will find that almost half of the screen is occupied by flashing figures of forex quotes. Dealing rates is the alternate term often prescribed for forex quotes. Prima-Facie you may feel that it is very easy to read forex quotes. However if you are a novice, you may land up with a buy trade instead of a desired sell trade. I would suggest that you must thoroughly understand how the forex rates are quoted on the forex trading platforms.
Let us study an example of USD/JPY. There are essentially two aspects. The first aspect relates to the exchange rate and the second aspect relates to the forex quote as appearing on the screen of forex trading broker.
1. US Dollar – USD
2. European currency – EURO
3. Japanese Yen – JPY
4. British Sterling Pound – GBP
5. Swiss Franc – CHF
6. Australian Dollar – AUD
7. Canadian Dollar – CAD
Forex Pairs: The term Forex pair may sound intriguing to those of you who are used to stock trading. Why forex in pairs? Well, even in stock trading, indirectly you are trading a pair. When you buy a stock, you are selling your money and vice versa. Similarly when you are trading forex you are buying once currency and selling the other currency. EURO/USD, USD/JPY, GBP/USD and USD/CHF are the most traded forex pairs that churn out the bulk of the daily trillion dollars turn over in global forex trading.
On any forex trading platform, you will find that almost half of the screen is occupied by flashing figures of forex quotes. Dealing rates is the alternate term often prescribed for forex quotes. Prima-Facie you may feel that it is very easy to read forex quotes. However if you are a novice, you may land up with a buy trade instead of a desired sell trade. I would suggest that you must thoroughly understand how the forex rates are quoted on the forex trading platforms.
Let us study an example of USD/JPY. There are essentially two aspects. The first aspect relates to the exchange rate and the second aspect relates to the forex quote as appearing on the screen of forex trading broker.
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