Just to share my thought on current gold market.

Bullish pin bar formed on support level turned from prior resistence level @ 1625.00. (Daily chart)

Entered long @ 1636.95 upon closure of bullish pin bar this afternoon. Stop loss placed at 1622.00 (slighly below the wick of the bullish pin bar), profit target placed at 1675.00 (right before the first resistence level).


Risk and reward:

Risk = 1,495 pips (1636.95 - 1622.00)
Reward = 3,805 pips (1675.00 - 1636.95)
Reward/Risk ratio = 2.5 (3,805 / 1,495)

Note: the risk and reward calculation above ignore the spread charged by broker

Any feedback/comment is welcome for productive discussion.



This post has been edited by liangko: Apr 25 2012, 01:37 AM


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Hi all,

I'm having difficulties in looking for forex trader job opportunity in a finance institution or forex brokerage firm as there are very limited (almost none) job vacancies out there which is specialised in forex trading. Many of them only hiring traders/dealers for stock market, equity, derivatives, option and futures.

Most of the forex related jobs available are "forex dealer" whose main responsibility is to execute FX orders/transactions on behalf of customers which is not something I'm eager to do. I prefer to manage customer's or company's accounts in forex trading and generate profits for the firm. At the moment, I'm just able to find a foreign currency management Company which is based in Singapore - the name of the Company is Rhicon Currency Management. I have submitted my CV and I'm waiting for their reply.

Just a brief introduction of myself - I'm a price action trader from Malaysia. I have a day job and I do forex trading on part time basis. Most of my trades are done on daily chart based on high quality price action set-ups/signals.

I have been a losing forex trader in the past until I have learnt price action trading strategy where I have become profitable trader and able to achieve 100% ROI in last year (period from Apr'11 to Apr'12). This has motivated and encouraged to venture into foreign currency trading industry. Of course, some of you may wonder, why would I still want to work as forex trader since I able to generate such high annual ROI %? The reason is that I'm passionate in forex trading and I wish to make forex trading as my career. And I believe that it will be eye-opening experiences if I'm given the opportunity to work in any forex investment firms that could expand my trading knowledge and skills.

Is there anyone here is forex trader of any financial institution/forex brokerage firm? I will be deeply appreciated if you could provide some guidance or hindsight on how & where to get a forex trader job.

Many thanks.

My capital was $400 last year around April. My balance now at $1,140.

The risk and reward ratio that I always aim to get is at least 1:1 and higher.

I only trade daily chart by using price action from key levels.

I used fixed % approach for risk management where I only risk maximum of 2% over my account balance for each trade.

Hi all,

For those who are interested in price action method in forex, please feel free to visit my blog, I have just created this blog for the purpose of keeping a journal of my live trading as well as to share my price action analysis on forex market.

This is the link: www.learntotradepriceaction.blogspot.com

Thanks.