sigh...Just closed my position as it has reached my SL at 115.50 -> loss at 32pips
Me such bad trader.
Technically, i should wait until G7 announce the measures first then can start long on EJ.
No patience when trade resulting in loss.
Need more time to practise my skills first before open real account. Perhaps another 3-6months more..

@kelvin_tan
U r right. In 15mins, it has triggered my SL. Now it rebounced back to 116.33. Virtually will gain 50pips
Next time will set SL larger to avoid whipsaws. Maybe set 100:300 -> 1:3.

However ur risks ratio is at 95:150 -> 1:1.58, it kinda small profits ratio.
Means 2 losses can't cover back 1 profit. Need to be very accurate when entering every trade.

Try google for mt4 (meta trader 4). Download mt4 software and open demo account with them.
This software provide good charting. Im currently using this mt4 first for few months before opening account with oanda.
If my future strategy tested fine, maybe will open in Jan next year.

Noted. haha...
I'm too rush in collecting pips.
I admit that i'm quite rush ppl. little patience..
Perhaps good trade ratio is the key to learn patience. With good trades ratio, money will follow us.

thanks for the tips.
Will always remind myself to be patience.
=> patience in waiting for signal. develop own strategy. and stick to it.

sometimes i wonder it take 7 years for EJ from 110 to reach 170.
But now kinda scary to see that it only took 3 months to wipe all these 7 years currency appreciation. From chart itself, downtrend is just almost 90degree.
Economy is now facing big depression.

@chicaman
Good. You've earned pips.
But it's better to try to simulate ur demo account as real as possible.
USD5mil is seem too good to be real

Im now will start over again and trade as real as possible using demo account. Maybe will start with USD1K first.

Okaylar..time to go off.
Happy pipping to all of u !
Good night.

Very interesting to see such bull chart in USD/CAD pair.
Will consider to short it when it reach between fibo 61.8 and above 100MA.

This post has been edited by dreams_achiever: Oct 28 2008, 07:56 AM


Attached thumbnail(s)

I viewed on 1month chart first then zoom into daily chart for entry purpose.
This morning, rush to work so got no time to zoom in.

Will plan entry tonight for USD/CAD if oil price rise as CAD is commodity currency and USD weaken.

it would be good if in the limit order, we can set range to be executed when it almost reach our targets.
Kelvin_tan, are u full time trader? or you only trade on night?

@kelvin_tan:
good. U got plenty of time to trade. Luxury path is in your way..
Me need to work. No time to trade forex. Maybe will aim for swing trade instead so that won't stick to monitor quite frequently.

I've checked with Oanda. THey only accept for wire transfer & paypal. Do note that if you open account with paypal then u request for withdrawal, they will use same method(paypal) to transfer back to you.
So better make decision that which methods that you prefer coz it is permanent once you open account with Oanda.

Just earned +45pips from longing on EUR/JPY. Took 0.2lots for profit taking first
Remaining 0.3lots for bull run first until hit 120.30 (my TP when almost hitting upper bolinger band). Set SL +1pip as been teached by kelvin_tan.
Will see other entry to long again if it drop to last inner trend line.

This post has been edited by dreams_achiever: Oct 28 2008, 07:46 PM


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Closed other 0.3lots at +91pips. Total = 136pips. yes!
Reason: It hit the outer TL and when i see it, it turn red bar. Better lock in profit.
Looking for another short entry when it touch upper bolinger band.

Haha..still learning.
Need to maintain a good trade for every trades that i make.
Still looking at other pairs. See which pair give best accurate signal.
Will post some graphs here if found some.

Lucky i closed EJ position. Now turning red liao after hitting outer TL.
Will look other long entry in EJ. Probably will enter when it hit 50MA

This post has been edited by dreams_achiever: Oct 28 2008, 08:38 PM

New trade open at GJ.
Reason: CCI hit overbought line and hit TL(trend line)

This post has been edited by dreams_achiever: Oct 28 2008, 08:41 PM


Attached thumbnail(s)

Seem not quite good.
Set SL at -7 for GJ.
Yah, you're right. Better focus on EJ first. Less volatile compared to GJ.
When has master my baby skills, will focus on 2-3 pairs.

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Added on October 28, 2008, 8:53 pmCLosed position at -7pips.

This post has been edited by dreams_achiever: Oct 28 2008, 08:53 PM

Do you where i can see carry trade/swap for specific pairs?
Can't see anywhere in mt4.

EJ: good. will spot for long entry point.

@kelvin_tan
Better than losing money mah.

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Added on October 28, 2008, 9:26 pmSo fast? Still got many hours to go before midnight.
(from 8pm-12pm is the most active trade in single day of forex market)

This post has been edited by dreams_achiever: Oct 28 2008, 09:26 PM

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