This is most unexpected to me. The whole night it didnt go up until I close my position take profit......then this morning.........

Yaa who would be trading outside market hours that much lol ... I just happened to be watching the chart when it suddenly jumped.

I had left my account in open position on GU for a month already.... can't wait till it bounces back

I was expecting a price correction 2pm-5pm to get another good long position b4 it go up again @ 7-12pm, but it didnt happen instead it start jumping during JPY market closing time 2-3pm.

Todays market is acting rather different from usual days.

Who is pushing EUR, I dont feel that comfortable to open another long position right now. Without any fundamental as backup & it go up like this. It is likely to crash anytime.

Next time I should open 2 positions and left one open overnight (my long Started @3214 and it close tooo low! @ 3240 resistant, wat a waste! 100pips!)


Update guys: Lets wait and see whats the outcome of CPI.

This post has been edited by billytong: Mar 16 2007, 08:19 PM

yup.. u waste a lots.. but as the wise say. dont be greedy. u might not know what will happen in future although u can predict it.

EU will gonna have new support n resistance..

GU look to spike twice since yesterday, and today

just play short with GU..this pair is volatile this week..

how you know it will down again? play short for gamble?

most of you using what broker?
i am using MBT

Erm, can someone tell me why the Euro/USD pair wemt upwards?

EUR/USD has been bullish since 2005/2006 i think. It just resumed it's original direction.

Btw anyone here went to the Asia Trader and Investor Conference this evening ? It's been a great day for me because I learn a lot of things. What they teaches you may look subtle but actually it helped me answer a lot of question.

Tomorow is the last day of that conference.

what r d topics being discussed? mind sharing with us luqmanz?

This post has been edited by hunt17: Mar 18 2007, 12:53 AM

I know it's been bullish, but what was pointing towards the correction?

What indicators would've shown that it was going to resume it's upward trend?

Sure. They discussed trading strategies for forex, stocks and option. Also got talks about real estate but I didnt go to any.

One of the best speaker was the broker from CIMB. He has 28 years of experience trading futures,stocks and other derivatives. One of his advice to is to beware of "Academic fundamentalist" and "academic technician". I think he believes these people tends to give wrong information about trading. You wanna learn trading, learn from real traders. That broker I think is gathering RM100 mil for his own hedge fund.

He also shared with us his techniques that he has been using for 28 years. If that techniques has survived that long, probably it will last forever. To me, that's a very-very valuable information. I just included that technique in my trading system and I'm currently backtesting it manually.

Another good speaker is a lecturer from MMU who is also a seasoned forex trader. He demoed how an automatic trading system can turn 10,000 to 400,000 in 7 years. Completely automatic. He plans to start his own hedge funds in 3 years. The only tools he used is simple moving average. Unbelievable.

It's true that simple system works best.

Hi, do you mind teach us the forex system that he use for 28 years? please..?

Here you go. Pretty simple and boring but it works and that's what matters. You can use this almost on anything, stocks etc whatever.
If you used this on M'sian stock you should have profited handsomely from the recent bull-run.
His advices :
Always use stop loss.
Don't try to pick top and bottom. It never works. Just be happy with what you gained.


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luqmanz, what is backtesting? Also, what's an automated trading system? Pardon me for my silly questions

Dude you have the EA?

I'll try to test the system for a few weeks, hehe

Thanks very similar with what im testing now, but i never use to weekly chart or trade for such a long term.. hmm..

This post has been edited by jong52yuara: Mar 19 2007, 10:28 PM