Eur/Usd 23-Jan.2009 (Close order)
Today I close my Eur/Usd trade price 1.3022
P/L on this trade was -203 pips
23 January 2009
22 January 2009
Eur/Usd 22-Jan.2009 (Close order)
Today I close my Eur/Usd trade price 1.30606
P/L on this trade was + 0 pips (BE)
21 January 2009
20 January 2009
19 January 2009
Forex : Advice 1
Follows blindly is most Forex traders' fatal psychological weakness. An economical data published, breaking news aired, 15 minutes chart showing a breakthrough, most Forex traders will rush to be first to enter the market. In such situation, most Forex traders seem fearless, not fearing making losses and only worry that others are making profit but not oneself if not fast enough to enter market.
One might argue isn't the number one rule in Forex trading to trade follow the trend? Obviously, it's the ultimate rule: "Follow the trends, it's your friend!". Forex traders need to follow the trend to trade, but not be the first to enter market after any data or news published.
Most often, few economic data are being released at the same times, most Forex traders already enter market once the first figure is out, not even waiting for rest economic figure to be released. The second and following figure released might just reverse the Forex movement.
There are also numbers of Forex traders who watch Forex chart closely, and will enter market when the chart show a steep movement. Not even taking times to understand what are the forces for such movement. It will be too late when they finally know that it's false alarm because they are already in the losing position.
In Forex trading, never be too eager to enter market, learn to overcome the feeling worrying too late to make more profit. Take time to analyse what's the impact of the economic figure released.
It might be a bit late once you have digest all the information, but once you are in the right direction, they are nothing to worry still the (stock) market close unless there are other breaking news.
This is what we call follow the trend, which will be moving on the same side till the market close.
Usd/Cad 19-Jan.2009 (Close order)
Today I close my Usd/Cad trade price 1.2561
P/L on this trade was +599 pips
Eur/Usd 19-Jan.2009 (Close order)
Today I close my Eur/Usd trade price 1.3294
P/L on this trade was +177 pips
Usd/Chf 19-Jan.2009 ( Close order)
Today I close my USD/CHF trade price 1.1200
P/L on this trade was +178 pips
12 January 2009
11 January 2009
15 April 2008
Status 14-Apr-2008
| Deposit/Withdrawal: | 5 000.00 | ||||||
| Balance: | 4 951.23 | ||||||
11 April 2008
Forex Trading Comment Part 1
There's a lot of information out there on forex, some of it good and some of it misleadingly bad.
Be careful. !!
Trading forex is many times portrayed as a way to get rich fast; a home-based business. This is the furthest than from the truth. Trading forex is risky and though it may be possible to turn it into a home-based business, you need a lot of capital and experience.
To give you an idea, a very experienced and respected currency trader had the following yearly returns:
- 71% in 2004
- 433% in 2005
- 53% in 2006
- 30% in 2007.
Could you live on the $1500 you made in 2007?
I doubt it. I'm not trying to discourage you from trying but I think it's important to be realistic.
If you dive into currency trading with unrealistic expectations, you're not going to get far.
10 April 2008
7 April 2008
The Foreign Exchange
The Foreign Exchange, also referred to as the "Forex" or "Spot FX" market, is the largest financial market in the world, with over $1.2 trillion changing hands every single day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you see how giant the Foreign Exchange really is. In fact it is three times larger than all of the US Equity and Treasury markets combined!
I trade today nearly only on Forex. To show you how forex can be nice or kill you.
I open a small account as demo-live account.
| 2008.04.07 | balance | Deposit | 5 000.00 Eur | |||||||||
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