Thanks. U too, earn pips as lot as we can

Another side of AUD(fundamental)
Nov. 3 (Bloomberg) -- Australian house prices fell, retail sales dropped by the most in three years and job advertisements slid for a sixth month, according to reports today that add to signs the nation's economy is slowing.
Estimated / Forecast retail sales: -0.5%
Actual : -1.1%

Tommorrow Nov 4:
Reserve Bank of Australia going to slash 50points to 5.5%. Wednesday: Trade balance. Thursday: Employment rate.
I think all these datas will contradict to growth. Time to short all the day until end of week.

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Added on November 3, 2008, 9:08 pm@kelvin_tan.
Time to reverse your position. Should short USD pairs which is not base currency

This post has been edited by dreams_achiever: Nov 3 2008, 09:08 PM

@mphpopular
Wow..thats good.
I can see that you choose very good pairs.
CAD/AUD rise since oil price is moving up to USD68 from USD62 last week. No wonder you short EUR/AUD.
Next time need to monitor crude oil movement. Then focus on commodity currency.

Give some tips mah next time..hehe

Anyway what is big TF? So many acronym that i'm not so sure about.

@mphpopular
When zoom back in your previous post, i found that you did post some tips on EUR/CAD.
Maybe that time, my eyes been focusing on chart itself. Didn't take look on that pair.

Anyway, will keep aware on your post. Each your posts could bring another hundreds of pips coming in..
Btw, keep posting some good charts wor

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Added on November 3, 2008, 9:51 pm@kelvin_tan
Thanks for your reply.
My head too tired to think whats meaning for TF acronym.

This post has been edited by dreams_achiever: Nov 3 2008, 09:51 PM

Yup..i will try to look what pairs that observed by mphpopular
and then will try to analyse myself what is reasons that he is looking on it

If not sure, will post charts for open discussions.
Anyway, just closed A/U @ +78pips for today
Looking other pairs for trading signal.

Well, still developing my system on forex trading. Still not confident yet.

AUD/CAD seem more like in trading range. No trending yet.
But for this pair, i couldn't see any fundamental reason for this pair. Both also commodity currencies.
Just difference is which currencies will weigh more compared to other when crude oil price is up.

My strategy was:
1)Trade one commodity currency against non-commodity currency eg: AU/USD, AU/JPY.
2)Trade one lower currency of high interest rate against low interest rate. Eg: AJ, EJ

Oppss..using wrong strategy liao.
Actually previous post is talking about what usual currency pair that i will trade and not about forex strategy

Yup, true.
Im using Triple screen trading strategy. View longer term first(weekly/daily) before zooming into hourly timeframe.
-> erm..later refer back to note to recall back
Thanks for your kind reminder

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Added on November 3, 2008, 11:30 pm@orangysb
By referring to my post #1696, i did attach chart on AUD/USD.
Based on chart, it is forming double bottom, below 50MA and forming descending triangle (erm..maybe too technical term for u. Hope you understand )

From fundamental view, this week will have AUD data out. Mostly will be negative. So it is time to short.


This post has been edited by dreams_achiever: Nov 3 2008, 11:30 PM

@AdamG1981
Looking at daily chart, most of indicators is pointing uptrend.
Nvm, i've closed my position. Waiting for A/U break its channel first before start long position while gaining interest rates
My short position is just for scalping purpose .

Seem most of major currency has trending up.
Time to change to long strategy.

a chart explain thousands word. >.<
Recently i seldom post chart coz doesn't see any point that i would trade.
Just closed one short position with -100pips. Not dare to short anymore.
Else become "shot shot dei" liao due to losses.
Time to rest for awhile.

Very good. Real trading or demo trading?

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Added on November 4, 2008, 10:06 pmBtw, today just recognise another trend that quite accurate reaction towards double zeros rate.
Means that trend tend to reverse when touched double zeros. For example EJ drop when touch 128.02.
Can apply this strategy for setting as entry points.

This post has been edited by dreams_achiever: Nov 4 2008, 10:06 PM

You're right. In longer TF / daily TF, all commodities and EUR pairing was rising.
Should change mindset to buy on long strategy. sigh..
Loss 100++ pips liao..sigh.

@baronic
Take a look on this website
http://www.earnforex.com/all_forex_brokers.php

It list all available brokers and with some brief descriptions. Try look for regulated forex broker under nfta or cftc (as mentioned by kelvin_tan)
There are 2 platforms available either is mt4 trading platform or their own trading platform.
Personally i like mt4 platform as it charting are more user-friendly.

this morning enter short position EJ @ 126.67 coz foreseen of EUR rate cut today
Currently earn +174++ pips.

This post has been edited by dreams_achiever: Nov 7 2008, 12:32 AM

Yup. True.
Time play important part in forex trading. Bear rally has over after post election. Time to short EJ again
Paper profit +332pips .

This post has been edited by dreams_achiever: Nov 7 2008, 07:47 AM


Attached thumbnail(s)

http://www.earnforex.com/ecn_forex_brokers.php.
I did post it here last time.
Remember to bookmark it coz it did help me in looking for good fx broker.
Now im targeting on Interbank coz it is MT4 broker

@kelvin_tan
Sorry yer. Can't join oanda club

GJ breakout from down trend.
Most of indicators pointing long signal. Add long position.

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Added on November 11, 2008, 9:24 pmfake breakout. closed position with -50pips.

This post has been edited by dreams_achiever: Nov 11 2008, 09:24 PM


Attached thumbnail(s)

@small-jeff
Thanks for your reminder. My previous GJ BO is temporal only. If draw fibo perfectly, it just barely touch 61.8% before plunged down.
Next time, must use fibo analysis first before entering position.

(ps: tot want to use chart prices as main indicator just like @mphpopular. Seem need to practise longer)

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Added on November 11, 2008, 11:11 pmSeem tonight no profit trade.
Better sleep early and continue trade for tomorrow nite.

This post has been edited by dreams_achiever: Nov 11 2008, 11:11 PM

or maybe in this week during G20 meeting, something big stimulus plan been announce? Much bigger than USD700billion bailout

GJ at 5th wave of downtrend.
Will long when touch lower TL. Long for a wave.

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Added on November 12, 2008, 9:36 pm
aim at 146

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Added on November 12, 2008, 10:13 pmLong at 146.25.
TP 146.90

This post has been edited by dreams_achiever: Nov 12 2008, 10:13 PM


Attached thumbnail(s)

You may consider for AUD/USD for commodity currency trade or EUR/JPY (second most volatile pairing after GJ).
So far im monitoring for CHF pairing. From what i know, CHF is quite stable currency when crisis happen. Every investor will rush buying USD, CHF or YEN for parking their money from being depreciated.

Correct me if im wrong.

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Added on November 13, 2008, 7:31 pmThis morning long on GJ at 140.67(almost lowest rate since many many years).
Plan to keep until next week while raising SL higher to protect profit and earning carry trade interest(swap rate).

This post has been edited by dreams_achiever: Nov 13 2008, 07:31 PM