My first try on drawing TL..

AJ



Comments is welcome.....

Updated my siggy for all those who might need to be reminded.....

This post has been edited by WhitE LighteR: Dec 21 2008, 12:04 PM

GU. Red line down is a TL from higher TF

It will hit the red line, coupled wit OB on rsi.... and decline back. IF it does breakout of the red line... then bull really in control liao. We might be looking at least a retest of 1.55 if that happens.




Attached thumbnail(s)

i feel this place has turn into a marketing area instead......

Yup... GJ is coming down....

What i'm about to post up is my life in a WEEK~!!

There is a story in here... so learnt from my stupid mistake so you don't repeat wut i did.....

I begin the week by being

1. Impatient.
2. Enter in and out very quickly
3. Trade on news.
4. Play very lower time frame

THE BAD......

I begin here:

434266488, January 2 12:04:34 2009, , Close Trade, GBP/USD, 1.4516, 400, 1.4689, 1.4380, 434239906, , , -0.0028, 0.0160, 0.0132, 99.98

434268557, January 2 12:11:10 2009, , Close Trade, EUR/JPY, 127.2020, 300, 124.8450, 129.0000, 434058938, , , 0.0088, -1.3180, -1.3092, 98.67
434319939, January 2 15:55:28 2009, , Close Trade, AUD/USD, 0.7106, 400, 0.7153, 0.6959, 434257779, , , -0.0060, -2.0200, -2.0260, 68.60
434593671, January 4 21:09:54 2009, , Close Trade, AUD/USD, 0.7120, 1500, 0.6920, 0.7162, 434514034, , , 0.0172, -5.6550, -5.6378, 62.97
434665384, January 5 03:25:17 2009, , Close Trade, EUR/USD, 1.3759, 400, , , 434662739, , , -0.0001, 0.1720, 0.1719, 59.47
434676807, January 5 03:33:35 2009, , Close Trade, GBP/USD, 1.4486, 130, 1.4585, 1.4430, 434644371, , , -0.0004, 0.7150, 0.7146, 60.18
434676886, January 5 03:33:40 2009, , Close Trade, AUD/USD, 0.7093, 1500, 0.7186, 0.6972, 434594915, , , -0.0324, 2.9700, 2.9376, 63.12
435027080, January 5 21:41:01 2009, , Close Trade, AUD/USD, 0.7143, 700, 0.7161, 0.7065, 435006829, , , -0.0052, -1.2950, -1.3002, 31.53

AND ends here:

435027936, January 5 21:46:16 2009, , Close Trade, EUR/USD, 1.3594, 700, 1.3561, 1.3660, 435025753, , , 0.0002, 0.0560, 0.0562, 31.59

I loose everything in 2 trading days !!!!

I realize i need to change.... to be:

1. More patience
2. Don't overtrade. Wait the trade to play out by itself.
3. Trade on rumour and sell on news.
4. Play higher time frame. For me its H3/H4 and Daily charts.

SO remember where we were?

435027936, January 5 21:46:16 2009, , Close Trade, EUR/USD, 1.3594, 700, 1.3561, 1.3660, 435025753, , , 0.0002, 0.0560, 0.0562, 31.59


435781686, January 7 09:39:04 2009, , Close Trade, GBP/USD, 1.5077, 500, 1.4800, 1.5500, 435561737, , , 0.0054, 9.1000, 9.1054, 52.75
435781704, January 7 09:39:07 2009, , Close Trade, GBP/USD, 1.5078, 700, 1.4800, 1.5500, 435244049, , , 0.0147, 38.1080, 38.1227, 90.87
435786692, January 7 09:49:52 2009, , Close Trade, EUR/USD, 1.3682, 800, 1.3300, 1.4700, 435397585, , , 0.0214, 13.1200, 13.1414, 104.01
436092991, January 8 01:58:10 2009, , Close Trade, EUR/USD, 1.3660, 1000, 1.3680, 1.3300, 435787404, , , -0.0411, 2.6500, 2.6089, 106.62


I was distracted while talking with my gf... p/s: make sure no girls are around. they normally don't bring good luck

436095256, January 8 02:04:05 2009, , Close Trade, AUD/USD, 0.7054, 1000, 0.6936, 0.7500, 435079745, , , 0.0221, -9.0600, -9.0379, 97.58

Anyhow,


436211165, January 8 07:02:38 2009, , Close Trade, GBP/JPY, 138.1260, 1000, 139.7000, 135.0000, 436034294, , , -0.0500, 17.9945, 17.9445, 115.53
436228420, January 8 07:27:22 2009, , Close Trade, EUR/JPY, 124.5260, 1000, 127.1000, 120.0000, 435789519, , , -0.0620, 28.4839, 28.4219, 143.95
436335362, January 8 10:34:14 2009, , Close Trade, AUD/USD, 0.7065, 1000, 0.6950, 0.7300, 436239151, , , 0.0064, 0.5400, 0.5464, 134.02
436368441, January 8 11:54:38 2009, , Close Trade, EUR/USD, 1.3702, 1000, 1.3300, 1.3980, 436267388, , , 0.0049, 0.5700, 0.5749, 134.60
436619152, January 9 04:54:27 2009, , Close Trade, EUR/USD, 1.3687, 1000, 1.3710, 1.3100, 436377509, , , -0.0533, 2.6400, 2.5867, 137.63
436624739, January 9 05:05:38 2009, , Close Trade, AUD/USD, 0.7047, 1000, 0.7150, 0.6800, 436582958, , , -0.0075, 3.0000, 2.9925, 140.62
436807545, January 9 11:52:35 2009, , Close Trade, USD/JPY, 90.2490, 1000, 91.8000, 88.8800, 435774927, , , -0.0236, 30.0280, 30.0044, 170.63


So... to sum it up

1. Learn to be more patience
2. Don't overtrade.
3. Trade on rumour and sell on news.
4. Play higher time frame.

Just my 2 cents

A special thanks to Adam for all he has taught me.... Thanks man... Listen to this guy.. his damn good at what he does....

This post has been edited by WhitE LighteR: Jan 10 2009, 02:22 AM

Just to add Devin also points that we now hav a higher high and higher low to create an uptrend channel...

I agree with him on this.

On the side note, by looking at this chart, if u take tht fibo and use as a retracement tool, 61.8% also shows that there is little strength for uj to move upward IF it even move up. The retracement from the drop is just too much. A very short term upward move is therefore probable but not sustainable imho, thus creating a LH. Once the upward move created enough OB on the SToch we might see it nose dive once again.

So just becareful when trading this pair. This is however purely TA base tho.

This post has been edited by WhitE LighteR: Jan 12 2009, 11:35 AM

Read alot from online and also e-books..
It takes 3-6 month on demo before you can go live... this time should be used for you to test out all those strategy you've read and see which one suit you best. From there you can create one strategy which suit you the best and even create your own if you feel like it. Once you can book consistent profit, only than you are ready to play with real account. Even with real account you need to start slow and small. Coz the psychology of playing with real money is dif... in short.. u will get greedy can kill youself.

Do join us here once you're actively trading. You're opening a real account or a demo one?

Must be you went and long something rite?

Most of the thing they will teach you, you can easily learn by yourself for free. Coz you could easily spend literally thousands to pay for such courses. All you need is patience to learn and practice it yourself without going to any course. You sure can do it...

UGPM

---

Added on January 14, 2009, 1:01 amWrong way to use Fibo

---

Added on January 14, 2009, 1:02 amYou long GU too early. Never trade against trend. But also never try to catch trend when its too low down.

This post has been edited by WhitE LighteR: Jan 14 2009, 01:02 AM

436866017, January 9 15:11:00 2009, , Take Profit, EUR/JPY, 121.4000, 1000, , 121.4000, 436848287, , , -0.0053, 0.0885, 0.0832, 170.71
437167169, January 11 23:45:20 2009, , Close Trade, USD/JPY, 90.1030, 1000, 92.0000, 87.2000, 437085506, , , -0.0091, 0.1110, 0.1019, 170.28
437635591, January 13 02:50:59 2009, , Close Trade, USD/JPY, 89.1360, 1000, 90.0000, 88.0000, 437575523, , , -0.0051, 3.3320, 3.3269, 213.65
437636064, January 13 02:52:34 2009, , Close Trade, GBP/USD, 1.4682, 1000, 1.4900, 1.4500, 437575324, , , -0.0156, 9.2000, 9.1844, 222.83
437636295, January 13 02:53:25 2009, , Close Trade, EUR/USD, 1.3256, 1000, 1.3493, 1.2900, 437549100, , , -0.0293, 8.1300, 8.1007, 230.94
437838409, January 13 11:34:42 2009, , Close Trade, EUR/USD, 1.3209, 1000, 1.3500, 1.3000, 437777555, , , -0.0083, 0.4600, 0.4517, 231.39
438048454, January 14 00:55:32 2009, , Stop Loss, AUD/JPY, 60.9610, 1000, 60.9610, , 437092878, , , -0.0288, 22.3506, 22.3218, 253.33
438050754, January 14 01:03:00 2009, , Stop Loss, AUD/USD, 0.6800, 1500, 0.6800, , 436766030, , , -0.0445, 36.5850, 36.5405, 289.87
438054944, January 14 01:17:05 2009, , Close Trade, GBP/JPY, 131.1730, 1000, , 127.0000, 436373660, , , -0.0324, 79.2512, 79.2188, 369.09
438085242, January 14 03:10:17 2009, , Close Trade, EUR/JPY, 119.4450, 1000, 120.2000, 114.0000, 437117123, , , -0.0424, 21.8763, 21.8339, 374.53

Dear Customers,
As some malfunctions with Windows Live service, Messenger group also has problems accordingly:

When you create a new group or join a group, maybe the group is offline but you still can chat with others in the group or open the Activity Panel etc.. If you cannot send a nudge, please try to type /open. (If you cannot use the command, please try again later.)

We are very sorry for any inconvenience this may caused. We are contacting with Windows Live service providers now and hope these problems will be fixed soon.

Thanks for your support about Messenger Group.

http://forum.groups.im/viewtopic.php?f=6&t=775
------------

Well in any case i tried that the other day and still doesnt work. Someone inside the thread suggest adding and removing the group... this one i nvr tried yet

what is candlestick ar?

sorry.. noob

kthxbye

Abit sad that there is only one thread for Forex kaki's....

Below is just wut i think...

Down

Up

Down

This is exactly wut happened to me yesterday. Thats is why SL is important

I'm planning to do this too... have a 3G connection as backup. Plus u can use it to trade when u outside of your home

Babypips alone is not enough. Here's another great site which can make u cry

http://www.investopedia.com/articles/forex/

Dial up is not enough. You want your reading as real time as possible. I know a guy with 4Mbps Streamyx and he still complain its not fast enough.

This post has been edited by WhitE LighteR: Feb 4 2009, 10:05 AM

http://www.themalaysianinsider.com/index.p...-currency-swap-