I was in the negative late afternoon. Then the down rally that happened both on AuD and EuD at around 3pm brought me back to positive. Thank god.

That was a good 40 pips. I hope you guys caught that rally.

With the S&P warning to cut credit ratings on a number of Euro Nations, will this mean a further mid-long-term bearish rally on the EuD? http://www.reuters.com/article/2011/12/06/...E7N60DX20111206

Poks, what do you mean by hanging candle?

ah! according to babypips http://www.babypips.com/school/japanese-ca...heat-sheet.html , that's a hammer, since it's bullish. It's a hangman if it's a bear. haha, but calling it a hanging candle is still the same I suppose, it looks hanging anyway.

This was the first time I traded UsCad because I saw the opportunity after the Bank of Canada announcement on the interest rate. I have to say that trading with UsCad is very much calmer than EuD. I'm not sure if the calm trade had to do anything with the late night trade, where less people might be trading. One adjustment that I to make was the pip spread, since I get 2 pips for Eud, while 3 pips for UsCad. That sure was some confusing moment in targeting my profit. haha, but it turned out fine.

One more thing I notice about UsCad is that at times EuD seems to have double the effect on every pip moves of UsCad. For example, if UsCad move north of 3 pips, EuD will move south of about 6 pips. So if I was scalping, EuD might be a better choice since I get lower spread and double effect. This is just based on my quick observation, will do more observations on this.

I hope everyone had a good trading day last night. That was some good moves. I made some loss today because of a trade that I had miscalculated. And I put in more lots than I'm suppose to. haha, but I managed to recover a little bit. Today will be better and greater

Have a goodnight everyone!

darn, I missed the bearish ride. haha, but what a good trade tonight.

AuD pair is actually not quite bad! It moves rather quick, which is nice. I never tried trading it just because of the pip spread. haha! But now I see that the opportunity to profit with AuD will greatly cover the spread.

I hope everyone here who's been trading AuD pair, which I know from reading posts that Mr Rime, Poks, and Mabsandcals does, could help me a thing or two about the pattern and attitude of this pair. I do know that this pair correlates with EuD and UsCad, it can also correlate strongly to either one especially when one moves faster and larger pip range.

Great pips everyone!!

Mr. Rime, FED announcing Interest Rate in a few hours time, don't you think it will also affect the AuD? http://www.bloomberg.com/news/2011-12-13/f...diminishes.html

Ah! Thank you Mabsandcals. What I notice is that AuD looks more active than EuD after 12a.m.(Malaysia time), i'm not sure if this is due to the double effect AuD has, or it is really more active after 12am. This week, I seem to see EuD taking larger strides than AuD, for example the daily range.

Yes, I am trading with these 3 graphs. It is really helpful in hinting me where AuD or EuD might be going next. Still practising them! haha!




haha! yay!!! oh yes, I also notice that news affect the graph only temporarily... unless it is a very big news. Correct me if i'm wrong.

This post has been edited by dillmac: Dec 14 2011, 12:17 AM

What a beautiful graph top to bottom 99 pips.

Looking at next bottom at 1.2880.


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ah! I havent tried trading gold yet. Giving it a try today with small lots. The price movement sure looks a little bit awkward due to the larger digits. But the graph show the same nevertheless. Does the price on our trading platform show the real and actual price of physical gold?


currently shorted EuD at 1.3034, looking for exit at around 1.2980.

head and shoulders formed on EuD now. A possible bearish direction?

*Add
woops... 1 min frame seems a bit crude. 5 mins showing a head and shoulder as well, forming the last shoulder that is right now.

This post has been edited by dillmac: Dec 21 2011, 05:42 PM


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I'm practising trades by focusing on candlesticks and correlation pairs.

Congrats =D

Yeap! I also do look at support and resistance, generally for entry and exit. I'm not sure how to use the fibo, I kinda skipped fibonacci in babypips because I thought it looked something like other indicator which looks messy. Maybe I should re-read it properly.

Thank you for the link poks

Yes, I took your advice and focused on those 3 pairs AuD, EuD, and UsCad. Now after observing them, I found that EuD and UsCad have a rather stronger correlation. AuD, I notice that it will correlate strongly with EuD if EuD is active, but if EuD is not, then it'll correlate with UsCad. But I also realize that AuD can be tricky to trade by correlating, as its correlation jumps between EuD and UsCad sometimes based on my observations.

If you could click the 3 photos of UsCad, EuD, and AuD that I attached, you can see the circled area between 12:15-16:15(20 dec). EuD responded to UsCad, but AuD is lost somewhere in between the two. AuD graph didn't drop down as much as EuD.

It's not to say that AuD is a bad pair, it does do some good correlation with UsCad in the morning where EuD move very slowly, but I just had some confusing experience some days ago with AuD pair.

Poks, about the pips on gold, each cent is counted as a pip? So 900 pips would be.... $9?

Boxing day is for commonwealth country if i'm not mistaken. Since it's a bank holiday, market might be very slow in volume? I'm guessing, have no experience on boxing day.

This post has been edited by dillmac: Dec 21 2011, 11:25 PM


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Merry Christmas and A Very Happy New Year 2012 to everyone!!! May 2012 be a very prosperous year for everyone

Watch out on the psychology part. Demo can be deceiving psychologically. I tend to be worry free and relaxed on a demo, but on a real one, I get panicked and worried when the trade is not going my way. Thus I close my trade when in fact later on the trade went back in my direction.

Another thing I learn is to have proper risk management and capital allotment, and also focus on the process(this can be your exit and entry strategy) and not on the profit. I know profit is important, but I think if you focus on the process more, you know where the trade will stop at or start rallying, that's when you can profit by using proper lot size to reach your target.

For Eur/Usd, I notice sometimes trades are rather slow between 7pm to 8pm Malaysian time.


Please learn solid money management skill. It will come in very very very handy. Also, manage your risk properly. For example, if you want to risk only 3% of your capital, never go against it. No matter how tempting it is. Unless you are very sure on your trades. It can be really depressing when your account popped. Very, very depressing.

Read and learn at the forex school at http://www.babypips.com/school/ .

Some broker have margin call policy. Make sure you practice your margin limit, do not go over limit.

Watchout for important news day, for example, today we have the NFP announcement tonight at about 9.30pm. trades can be very volatile even before the announcement. Observe how the market reacts towards the news.

Be patient, there are tons of opportunity in the forex market. Like someone in this forum once said before, it's not a get rich quick scheme.

There are days when you will win, then there are the days that you will lose. Maximize your winnings, minimize your losses. That's equal to winning! =D


All the best to you Sprix and everyone else!!

This post has been edited by dillmac: Feb 3 2012, 05:13 PM

I doubt this will work. You do have spread cost. You might as well buy and sell simultaneously on 1 account. If 1 account sell, and 1 account buy, one of the account has got to pop somehow.

Reserve Bank Of Australia announcing interest rate today at 11.30am(Malaysia Time)/3.30am(GMT).

Trade with caution for those trading Australian dollars.

All the best!

Fundamentally, both are weak. But with the Euro problem now, US' problem is overshadowed.

So with a Eur/Usd pair, any news on the Eurozone will cause quite some move to the pair because of the risk in Eurozone happening this time.

Watch out for any news on US too, especially with their election coming this year. Obama will have to work hard if he wants to be re-elected.

This post has been edited by dillmac: Feb 15 2012, 10:43 PM

From what I understand, Forex can be haram because of the interest gained or lost if a currency pair is held until the next trading day.

According to the article link posted by Firedauz, the Fatwa Council claimed that it's Haram because it involves speculation.

Well, don't everything in this world revolves around speculation? Business for example, you're speculating whether the economy will be good or bad in the future, and from that view of the economy, you may expand or contract your company.

Sugar trader, or farmers, will need to speculate on the demand and future prices of their goods. If they predict or speculate that prices and demand will rise, so will their production. These are their risk, if they produce too much, it might bring down the price such that it will incur lost to them. On the other hand, if their speculation is right, then they will gain.

In my opinion, Forex could be haram if you are trading heedlessly and depending on luck. That could be catagorized as another form of gambling.

But if you have knowledge and the skills to trade forex, how could that be speculating? For example, if you learn about the candlestick pattern(Thank you Poks for posting that Steve Nison Candlestick lesson link, it really helped), or news or events that can affect the exchange rate, you will definitely know and can estimate where the market will be going.

In relation to the business world, if you have the knowledge and well informed, then it's more of a skill then speculation, isn't it? My view is that same goes to the forex business or investment.

I might be incorrect on this, but I suppose the Fatwa was released to protect individuals who made a loss in the forex market in which they are not informed or do not understand the risk and on the way the market moves. Another factor could be because if unethical brokers taking advantage of their clients.

If speculation is the issue, then they might as well put a ruling that the stock market is haram, since that too involves speculation if you dont have knowledge and understanding of the market.

However, like I've mentioned above, the swap(interest rate on currency pairs) rate can be considered like a "riba". So if you're a muslim, you might want to ask your broker for a swap free account, depending on whether they provide that option or not.

These are my opinion as I've searched the information on the internet for this issue, and have come to the conclusion that if you learn and have knowledge in trading and avoid riba, then there is no reason why it should be declared haram. Correct me if i'm incorrect, I want to learn =D

I'm watching 1.2983 level for EuD. A break of that support could pull the pair lower

8.21pm malaysian time - Market ranging now... scalper's haven...

This post has been edited by dillmac: Feb 16 2012, 08:22 PM