Haha, its called greed. But overall i had a great week. Just need to be a little more discipline in trading.

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Added on August 22, 2008, 9:34 pmLOL!!!! WARREN buffet screwed me. He said no bets on the dollar. LMAO!!!

I misinterpreted the trendline, and paid the price of 400 pips. Oh well.

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Added on August 22, 2008, 8:45 pmToo much noise today's trading. Got caught out both ends.

This is the reason why I took Holiday, b4 this bear prices shows we have some bull steam...then the europe economy is a mess so I do not want to long. Short also scared it bull, long also scared it break.  = Take holiday.

Breakdown of the trendline. Should move south

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Added on August 22, 2008, 8:03 pmFundamental wise, i think you are right DR2, i think Europe is going into a crisis, and US is beginning to stabilize. So USD might go up instead.
Short 1.4807 5 lots, open

Long position closed, 250 pips loss.

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Added on August 22, 2008, 8:28 pm

Short closed for a loss too.

hmm...IMO...actually fundamental is not about chasing the news or news trading. Its more about understanding the market sentiments in general, hence determining the trend.

Heh, i am quite determine to gain back my earlier pips. But am getting tired, and going to sleep soon.

What a Friday, a disastrous evening to a disappointed one. Net loss: 178 pips.

I graduated school with a business degree and a minor in finance. After i graduated, started learning technical analysis (chart patterns, candlesticks) and tried my skills on futures; which i did okay in the first 3 months but had couple of big losses last month. Decided to try forex and got off to a good start.

Either way, you must be very very aware of market sentiment which you can analyze through fundamental or technical. It's a tough day job. Not easy, a lot of pressure if you put a lot of money on the line.

You can msg me if you like for my opinion on certain pairs, i only trade EU, GU and AU.

Anyone thinks GU will fall to 1.83 anytime soon?

I came across alot of forex courses in the star newspaper.. do u think it worth to pay for it?

No. These courses are never worth it. You only can be a succesful trader via lots of your own experience; not from other people's experiences or lectures.

You can gather a lot of information from investopedia and babypips. After reading these sites thoroughly, you should start demo-ing and read bloomberg, economist, and other business journals including WSJ.

The best combination i have found so far is the usage of fundamental and technical analysis. Technical analysis is an analysis of emotions from traders, speculators in the short run. Fundamental analysis is an analysis of the economy; which is the primary trend in the long run.

Oh, and if you don't like reading, then you shouldn't be trading.

Trading forex is a 24 hour job.

SIfu, you need to teach me about this, how to put a trade then go do something else??? I really cant make it... Cause once i place trade, even wif all SL and  TP. but i still will glue / stick with my PC.

Well, we'll see. We'll set the salary per month at Rm3,000 okay? at the end of five years we'll see who has more money.

I beg to differ, trading is a business, not a hobby. In order to be succesful in forex, you must trade to win, and focus on attaining your final goal. Extra income is one of the benefits, but amassing wealth should be your primary goal if you want to trade forex for your day job.

PS: I'm a full time daytrader for few months now, speculating in futures and now forex.

oh crap..oanda has USD25 for tier1 withdrawals and USD60 for tier2... and malaysia is not even in tier2.. i wonder if they send funds out of their tiers...=/

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Added on August 25, 2008, 3:45 pmone of the forumers said withdrawals only caused him rm5.. i forgot who..possible meh ?

Yup, had to cut loss because entry point was too low. Will consider shorting when it goes up a little more.

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Added on August 25, 2008, 5:04 pm Closed the euro position with 16 pip gain. Saw something in the chart i didnt like.

100% profit in 3 month....