tag:blogger.com,1999:blog-24090801164329014142011-09-06T09:44:39.640+08:00Successful trader who has an Edge believes in that edge.FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.comBlogger1031100tag:blogger.com,1999:blog-2409080116432901414.post-53376712983454068132011-09-05T10:40:00.000+08:002011-09-06T09:19:59.161+08:00

I am now out of job. I had proposed to the company management of my intent to reduce my salary in return for half day and some other critical conditions. My immediate boss was receptive of the idea and promised that there should not be able problem with such arrangement. I was to start this scheme in August but my immediate boss requested that I start later as my 'successor' was away overseas. I

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-46041177063198736162011-08-02T08:30:00.004+08:002011-08-02T08:35:44.501+08:00

There is no reason for any despair or agony. No matter how cornered I am, no matter how deep a hole I am in, the knowledge that the Lord is there is Victory in the making.No matter how convinced I am regarding this universal truth about the presence of the Lord, the next step to make it work is for me to work on it and keep working on it till the day I die.If the Lord is for me, then who can be

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-72662692346416628922011-07-28T09:52:00.002+08:002011-07-28T10:01:50.043+08:00

I am a Forex Trader and also I am a Christian.As a Christian, I was taught to be contented with what I have. The Bible has never said that one cannot work hard to be rich rather it encourage all believers to do their best and awaits the Lord's reward in his own time and condition. I failed as a Christian in this aspect because I entered into bitterness, envy and jealousy because I could not

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-44938594547281081922011-07-25T10:11:00.005+08:002011-07-25T10:19:15.615+08:00

Having been trading in the FX Spot market for the past 3 to 4 years after learning all the waves and forecasting techniques, I have come to a conclusion that forecasting is useless to me and does not help me in profiting from the market.After giving up on forecasting and trade what I see on the charts, I have been more profitable. I therefore given up on making wave analysis and try to forecast

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-8122202682424875122011-03-03T15:39:00.002+08:002011-03-03T15:42:12.302+08:00

There is a potential sell signal for the GBPUSD. Stand-by to go short at 4pm (GMT +8).Disclaimer: This is my own personal trades. You are following me at your own risk. I will not be responsible for any of your profits or losses as a result of you following my trade.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-81505199089331314722011-03-03T09:10:00.004+08:002011-03-03T09:15:55.191+08:00

If you wish to follow the signal, then here it is:Sell EURUSD at 1.3856 Stop Loss at 1.3895Take Profit at 1.3821Note: This trade has a lower profit probability because there is a support at 1.3850. Please take note of this and decide if you wish to take this trade.Disclaimer: This is my own personal trades. You are following me at your own risk. I will not be responsible for any of your

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-56359621659043518692011-03-03T09:10:00.002+08:002011-03-03T09:13:50.943+08:00

If you wish to follow the signal, then here it is:Sell EURUSD at 1.3856 Stop Loss at 1.3895Take Profit at 1.3821Disclaimer: This is my own personal trades. You are following me at your own risk. I will not be responsible for any of your profits or losses as a result of you following my trade.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-48965858115138552412010-11-18T17:00:00.003+08:002010-11-18T17:08:29.757+08:00

This seems to be off topic for a blog seeking for an edge in FX trading but the reason for me to work on gaining that FX edge is just have a better life for my family and myself, isn't it not?What got me to starting thinking about the purpose of it all is this: All the happiness and good life I obtain through this edge in FX trading will end when I longer live in this world. I have seen and heard

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-12811076688990891582010-10-18T21:21:00.002+08:002010-11-11T14:29:39.792+08:00

Intraday Trading is one of the way of trading towards profitability. While there may be disadvantages but it is definitely one trading style that would suit me quite well. Advantages of Intra-day trading:1. It trains your mind to be sharp and ready to take on changes in the market sentiment and price movement. It will also trains you to be flexible but thorough in planning out your trades. 2. You

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-16644149643366156362010-09-28T14:37:00.007+08:002010-09-30T16:08:09.080+08:00

It has been more than 18 months since my last entry. This will be my second return to FX blogging.The trader I am today is different from the trader I used to be. I used to trade so foolishly without understand the market sentiment and to follow a strict discipline. This result in mostly losing trades and a trader with low morale.Today, I don't trade as much and I don't get stuck to the screen as

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-18124525323582047692009-02-09T09:12:00.003+08:002009-02-09T09:35:56.707+08:00

This is the currency pair that I am most interested to trade recently. It has caught so much of my attention that I almost gave up trading the others.The EUR/USD like the AUD/USD is most likely to retrace back down to 12880 or 12843 region before heading up north again. While many in the Forexfactory.com are saying that it is still a bear market and it is likely to turn down this week, I have to

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-4065776605206406292009-02-09T09:00:00.004+08:002009-02-09T09:36:43.432+08:00

The AUD/USD was one of the big winner in last trading week. It has a daily range of 300+ pips on the last day of the week, moving up from 0.6474 to 0.6801.With such big move, I would be expecting the AUD/USD to come back down based on PowerWave Analysis and Patterns. It could move down to 0.6600 or 0.6535 region before moving up. Of course, this is only a technical analysis which works most of

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-168007876583462072009-02-06T10:11:00.004+08:002009-02-06T10:22:29.659+08:00

It is now a new year! The new year into 2009 and the new lunar year ushering the year of the ox. May this year of the ox brings in the bull to all the Powerwave Traders. Many pips to all!The EUR/USD has indeed been difficult to trade since it made the new recent lows on after another. On the daily chart, it is still in a possible uptrend as long as 12390 and the last support level at 12335 holds.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-62653193908134666662008-12-26T07:13:00.008+08:002008-12-26T07:36:02.878+08:00

Here is a brief of my personal view on the USD/CHF based on Powerwave.Daily Chart: The daily chart shows a divergence between the moving averages and the slow stochastic. Of which I would rather believe the two EMAs which are in downward direction. (See chart)I decided then to take a look at the weekly chart to see what could be happening at the bigger time frame and I found there is a divergence

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-84300608646517906372008-12-20T08:02:00.003+08:002008-12-20T08:24:26.708+08:00

After a fierce movement up from the BKO to the rejected high at 14719, the EUR/USD moved to close this week with a -800 pip loss! Of which I gained only 100+ pips....so sad :(One of the reason of this rejection was the annoucement by ECB to cut the interest rate of deposits of fund in Euro zone. This move forced traders to get out of their EUR long positions since they earn only 1.5% gain instead

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-22444019377862671002008-12-17T23:27:00.002+08:002008-12-17T23:35:21.568+08:00

Finally and fortunately I am out of all the USD in my bank and gone into AUD instead.Phew, I managed to get all my US dollars changed in Aussie Dollar just before the move up above the 0.7000 level today at the spot market. I think this will affect the bank rates tomorrow.Now I am just going to look at the AUD/SGD chart. Accordingly, the AUD/SGD should move up to at least 1.1500 level by early

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-25791730801624650742008-12-13T00:55:00.004+08:002008-12-13T01:06:19.145+08:00

I am starting to doubt the return of the mighty US dollar to strength in the near future. And added worst situation, I am holding some US dollars which I think would be depreciating further. So, in order for me to reduce my losses and possibly gain some profit and swaps, I would be converting my USD holdings in the bank into Aussie dollars.Reason for this is that I believe the Aussie will

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-50785726888828918472008-12-12T07:44:00.002+08:002008-12-12T08:11:25.331+08:00

Finally, the EUR has broken upwards and I certainly hope that it will continue in this trend. There are many people who made tonnes of money in this up move but not me :(With the break of the 3298 high, I would be expecting the EUR to make some retracement and possibly down to the 31xx levels. This is where I would see if there is any further opportunity to join this "Big Christmas Turkey"

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-7610961198739402742008-12-11T11:37:00.008+08:002008-12-11T15:03:48.941+08:00

I will be posting some trade setups which I believe would have been good for decent profits. This is another method to be included in my trade arsenal in addition to PowerWave (tm) trading.The method is taken from Philip Nel's 4H MACD from forexfactory.com and as the man teaches that this is not just a method but a system to feel for the market rythmn. The MACD is just for confirmation to trigger

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-31096109581734989882008-12-08T07:12:00.011+08:002008-12-08T07:40:42.099+08:00

I am back again after a lousy trading month since my last post. I was not feeling well physically to write on the blog....Well, my view of the EUR/USD was almost correct in my last post except that I did not expect the EUR/USD to be in consolidation (sideway) mode. It has been contained within the 13298 and 12329 price levels for the past 1 month! In my personal opinion, this consolidation is

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-10005119168313549802008-11-13T10:00:00.003+08:002008-11-13T10:08:55.507+08:00

The EUR/USD as expected has moved lower back into the 124xx region (at time of writing - 13 Nov 1000hr SGT, EUR/USD is at 12470).This move down is dangerous as it provide further opportunity for more traders to push it lower below the 12329 low (28 Oct 2008). Yet at the same time, understand that the market is still ill-liquid and is "Controlled" by relatively smaller trade size. So be warned

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-24011294196754581882008-11-07T08:03:00.004+08:002008-11-07T08:21:06.605+08:00

What is TED spread? Well here is the definition according to Wikipedia -The TED spread is the difference between the interest rates on interbank loans and short-term U.S. government debt ("T-bills").Initially, the TED spread was the difference between the interest rates for three-month U.S. Treasuries contracts and the three-month Eurodollars contract as represented by the London Interbank

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-71219898335317309972008-11-04T10:08:00.003+08:002008-11-04T10:12:48.467+08:00

I did a check on the Libor rate, the 10-year note yield and the Gold price. I believe that the EUR/USD may still have more room to move down.Libor rate is generally at a lower level while the 10-year yield seems to be moving upwards. Gold is still in a down trend and so is the price of Crude Oil. So with these data, I believe that the USD will continue to get strengthen in the near term.With the

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-74532817263904068702008-11-04T06:30:00.003+08:002008-11-04T06:55:27.684+08:00

Not that I wanted to be proud of a correct forecast, it is just a nice feeling to be correct. However, it would be nice if I have participated and made profit out of it.I made the right call, doing the right research and participate to short the EUR/USD but you know what happened?My problems are as follow:1. I got in too fast before the BKO (and my duckies) on 5 mins. So when the price moved

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-2063583110605892672008-11-02T21:59:00.005+08:002008-11-02T22:16:34.665+08:00

I thought I should just up the blog on what I expect the EUR/USD was doing and could be doing this week. The LIBOR rates have all gone down significantly and this could only mean that the credit crunch is getting further easing down but since I have not been tracking these rates in the past weeks, I am not sure if they are really low to the normal areas. However, the 10-year bond yield has been

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-51432122270567449622008-10-31T10:19:00.004+08:002008-10-31T10:36:38.654+08:00

Finally, I got my first big loss after a two weeks of 777 pips gain.I went short the EUR/USD this morning at 12776. I was agressive this time and made the following mistakes:I short at the B of the 5mins chart instead of the breakout area. Usually I go for the safer mode which is to short near or at breakout. I went for this agressive mode because I thought I am getting better and do not want to

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-81105444190067576012008-10-31T00:28:00.004+08:002008-10-31T07:28:04.699+08:00

I am a happy man trading the FX market today. It is not the number of pips that I am happy because there were days where I made more. It is the consecutive number of trades that I took and each with additional confidence and boldness.There were 9 trades that I made since morning till 12MN:1. Buy @ 13066 = -1pip (click the close button by mistake)2. Buy @ 13079 = 156 pips3. Sell @ 13088 = -9 pips4

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-85989317119185788812008-10-30T12:50:00.004+08:002008-10-30T16:18:50.044+08:00

Just after I declare that FX trading is the hardest easy money to make, I made 154 pips in just 1 hour this morning in the early Asian session. I missed the start of the up move of the EUR/USD but managed to get in at 13079.When the price hit 13296, I was up 217 pips but as usual, greed got the better of me. I exited at a lower price at 13235 for 156 pips profit. Well, I was upset with myself

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-41564684802812841722008-10-30T01:18:00.004+08:002008-10-30T01:48:42.704+08:00

If you thought of being a full time trader to make big bucks doing the minimum amount of work....think again. Who told you it would be easy? If you ask me, I will tell you that FX trading is the hardest easy money to make!My trades were quite good this morning and afternoon during the Asian and early European session. Made about 41 pips profit over 4 to 5 trades. I then became cocky and started

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-5425344821868502582008-10-29T15:17:00.002+08:002008-10-29T15:23:34.924+08:00

I think I wrote about this before and you know what? Until now, my trading plan is just a written document sitting in the shelve collecting dust.I took it out to see what I had done and realise that I have written were just written for the sake of creating a trading plan. None of what I am doing now is following any part of the trading plan. The famous saying that goes, "If you fail to plan, then

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-47647388189965937102008-10-29T10:58:00.002+08:002008-10-29T15:09:27.355+08:00

Is the housing bubble in the US that just burst the biggest bubble? Was it the dot.com bubble? Or is it the bubble gum in my mouth? (Oops! Sorry, gums are banned in my country!)According to a fund manager interviewed in CNBC today said that the USD value now is the biggest bubble. He told viewers that there is no fundamental fact to support the USD recent gains. In fact, all the data releases

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-80444409977283496342008-10-28T20:19:00.004+08:002008-10-28T20:28:44.287+08:00

I had two trades today. One winner and one loser and one missed trade.Loser trade was entered this morning at the turning of the trend. Made an entry to short the EUR/USD at 12349 and made a loss of 21 pips.Winner trade was entered this afternoon when I saw the EUR/USD was making its way down to 12460 and made a profit of 27 pips.A missed trade was when I went for dinner with my family and missed

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-81954298253163056522008-10-28T06:57:00.004+08:002008-10-28T07:15:47.290+08:00

What a day it had been! I was doing well in my EUR/USD sell trade (Sold at 12502 on the break of support at 12512) until 2 things happened:1. The broker's platform hung. The platform was not receiving any feed from the server for almost 30mins. I did not put my Take Profit limit and thus I could not argue with them for compensation but I did intend to get out when the EUR/USD price hit 12330.2.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-24517499754102521322008-10-26T17:31:00.009+08:002008-10-26T21:49:55.198+08:00

The EUR/USD has made remarkable down moves recently. Its daily range has expanded incredibly tremendously big range of 200 to 400 pips!Such big moves is unprecedented and is due entirely to the current global financial crisis. The unwinding of risky assets and flight to safe haven in the USD and JPY is really causing havoc in the financial markets across the world. Asian markets usually makes

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-81175918992447236552008-10-25T11:54:00.006+08:002008-10-25T12:34:27.495+08:00

The more you trade your setup, the more you will learn its intricacies under real market conditions. The more patient you will become. The more you will start to trust your setup and the more you will start to trust yourself.- Boris SchlossbergClick here to see the whole article by Mr SchlossbergThe current global financial crisis taught me one thing - if you do not know what you have been doing

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-90533730807127782922008-10-21T06:51:00.004+08:002008-10-21T07:40:13.764+08:00

"When you are slow to respond to a crisis, you get deeper in the hole, and the longer it takes to dig yourself out" – Larry SmithRisk is what every trader like me must be able to put into our stomach. Sadly, I am getting a bit more risk averse after this recent financial

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-54619880462311608572008-10-17T22:57:00.003+08:002008-10-21T06:45:15.515+08:00

"When you are slow to respond to a crisis, you get deeper in the hole, and the longer it takes to dig yourself out"– Larry SmithRetail newbie traders like you and I should take note of this quote in bold – that in our trading, we should be:Familiar with your trading planDevelop a thorough trading plan using the method that you learn and traded with. Update the plan as regularly as your due

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-16753947561344191532008-08-21T12:13:00.004+08:002008-10-25T14:42:04.188+08:00

So far, I have only managed to make a trade since the EUR slide down. One of the reason was that I have just got a temporary job as Quality Assurance Inspector. Will most likely stay hired for the next 2 months or so.Why I need to work if I am successfully trading? A good question. I will answer this question in later blogs.Back to my trade.....Short the AUD/USD [ unlikely pair that I would trade

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-87011037873751718512008-08-09T15:39:00.002+08:002008-08-09T15:45:59.856+08:00

This week has been a lousy week for me....the road accident distracted me quite a bit and made me unable to calm down to trade.....which result in missing out the rare and strong USD rally. I am so sad that I missed out the 500+ pips trade!Not only have I missed, I made a loss when I thought that the EUR/USD is going to reverse and bounce back up.....so here goes:Long EUR/USD at 15528 but Stop

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-60489433088453711022008-08-08T08:57:00.003+08:002008-08-09T15:46:42.357+08:00

Trades:1. Long EUR/USD at 15596 and closed at 15623 for a total profit of 27 pips.2. Long EUR/USD at 15571 and closed at 15623 for a total profit of 52 pips.3. Short EUR/USD (Powerwave - Divergence) at 15631 and closed at 15600 for 31 pips profit.Total Profit for 31 Jul 2008: 110 pips.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-3896532325322934692008-08-08T07:34:00.003+08:002008-08-09T15:47:15.567+08:00

Sorry for the long interval since my last post. It is not that I was lazy or ill-disciplined but I met with an accident. It was not a serious one but really a mood dampener.I was making a right turn when another car who refused to stop on seeing red light on his side banged into my vehicle's left side doors. It is because of God's grace that my wife was not injured but the vehicle was badly

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com3tag:blogger.com,1999:blog-2409080116432901414.post-32825747990281059582008-08-01T09:34:00.002+08:002008-08-01T09:57:59.030+08:00

I had a good time yesterday going out with KW and SC. Both are fellow associates in Dar's FX Mastery Course. We were out since Monday to share and review the Powerwaves and how we could trade. It was fun and has been a long time since I had company to trade together.While alone and making my way home, I was thinking about this - there is so much in the market to harvest that I alone would not be

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-62341256296950982812008-07-31T22:05:00.004+08:002008-08-01T09:33:57.967+08:00

Only got to get into two trades yesterday (30/7). Both were Long on the EUR/USD.Trade 1: Long EUR/USD at 15595. Reason: The EUR/USD seems likely to break the BKO 15598. Entered in advance. But the price almost immediately after my entry started to go down south. Alamak!Trade 2: Long EUR/USD at 15570. Reason: The price broke a seemingly resistance at 15566.The two trades took a long time to decide

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-79854290060845727142008-07-30T09:03:00.004+08:002008-07-30T12:33:22.007+08:00

Well, this is the second day of my trading this week. Sure hope that I have the continued winning streak with me - then again, it is all about hardwork and continuous learning to make myself better. Of course, another main ingredient to success is discipline.I am determined that I will be determined and disciplined to continue in using the Powerwave to trade. Never look at another chart of other

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-72002907026462530102008-07-30T07:07:00.002+08:002008-07-30T07:19:49.085+08:00

It was a good day overall. Made 2 trades to short the EUR/USD and both at the same price but only one made it well.The 1st trade was short at 15735 when the price broke the range the currency pair has been in but immediately after I went into the trade, the price shot up to 15756 to knock me out of the trade. Trade result: -26 pips.The 2nd trade to short the EUR/USD also at 15735 was triggered

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-83658250792883266992008-07-25T07:45:00.005+08:002008-07-25T10:25:20.300+08:00

I am quite pleased with the trades that I have made yesterday. They were all entered via sell orders.Why trades via orders are good? Well, I guess it shows the confidence of the trader that he knows where the price could be going and after that what it would likely do.Ok, here are my trades:1. The order to sell the GBP/USD at 19960 was hit and it is still open and on-going. I am expecting the

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-2444643943142452512008-07-24T10:57:00.006+08:002008-07-24T12:14:51.431+08:00

Started to make some trades yesterday and only made it to trade the GBP/USD. I get the feeling that I am getting too complacent and starting to be easy on myself. This is not ideal - this could be the start of an ill-disciplined me and the itchy fingers could very well return. In case you do not know what my itchy finger problem is, please see the end of this blog for its definition.Well, here

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-86309407765116862422008-07-23T16:35:00.005+08:002008-07-23T17:01:58.290+08:00

20/07/2008After making all the big moves, the market may be in consolidation mode on the 20/07/2008. I only managed to put a sell on the USD/JPY which result in a loss of -18 pips. This prompted me to stop trading for the rest of the day and wait for opportunities of higher probability trades.21/07/2008I went back to my old problem again. ITCHY FINGERS.....I just wanted to trade for the sake of

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-83348109761020149212008-07-23T15:50:00.005+08:002008-07-23T17:00:53.531+08:00

Hi fellow traders,Just want to update you and let you all know that I have joined a wonderful scheme call Pay Per Post. This allows me the blogger to make some money while I post my blogs about my FX trades, feelings and thinking. Hey, no one is enemy to more money - at least not me. Well, I am imagining that I could be a successful blogger who can make few hundreds or thousands a month to add to

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-28567441196971367462008-07-22T07:12:00.003+08:002008-07-22T07:26:03.182+08:00

Eversince I followed in detail and use the PowerWave trading method by Daryl, I have been on a winning streak. But what is most important is not the winning streak but the consistency and the ability to read and forecast where the price is likely to go. If one can forecast with 50% chance of being correct, that trader is on his way to a 50% winner. As long as he is able to keep his losses small

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-10369763982923307142008-07-21T16:41:00.002+08:002008-07-21T16:50:44.408+08:00

Made a total of 4 trades and I think it was a bad day for me but turned out well.1. Long EUR/USD at 15827 SL 15780 Exited at 15836 for a total profit of +9 pips only.2. Sell USD/CHF at 10186 SL 10267 Exited at 10229 for a total loss of -43 pips.3. Sell USD/JPY at 10609 SL 10689 SL triggered for a total loss of -80 pips.4. Sell USD/JPY at 10667 SL 10695 Exiteda at 10695 for a total loss of -28

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-66505515771173930312008-07-21T16:22:00.003+08:002008-07-21T16:40:46.506+08:00

Made only 3 trades (3 winners and 0 loser) on the 17/07/08 and here are the trades:1. Long the USD/JPY at 10529 SL 10460 Exited at 10635 for a profit of +106 pips. Reason for this trade was a break of BKO of an internal wave 10527. I had placed an order to go Long just 2 pips above the BKO. A good trade!2. Short the GBP/USD at 20005 and 19955 SL 20099 Exited at 19942 for a profit of +63 pips and

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com2tag:blogger.com,1999:blog-2409080116432901414.post-88623141269405513112008-07-18T06:30:00.003+08:002008-07-18T06:50:10.362+08:00

After days of exciting trades made, there were only 4 trades taken on 16 July 2008. I hope it is not that I have slackened but the market is slow. I have had such good trades that my account has dramatically increased. Hence, I could increase the trade size for each trade.The trades made are as follow:Long GBP/USD at 20059 and exited at 20075 for a +16 pips profits. This was a quick-profit

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-6748463780844736812008-07-16T22:54:00.004+08:002008-07-23T15:16:57.582+08:00

The following were trades that I made on the 15th of July 2008. All of these trades were entered based on Powerwave entirely. As for some of the exits......it was my Itchy Finger that caused an early exit which result in small profit or small loss. While I can read the chart better, I still have a small confidence issue to overcome.Here's the trade:USD/JPYSell @ 10580 and closed at 10465 for +115

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-81858776231750973392008-07-14T23:28:00.005+08:002008-07-23T15:17:25.899+08:00

The USD/JPY trade from last Friday was finally closed at 10666 for a total profit of +44 pips over 0.25 lots (ie. 2.5 x 44 = 110 pips). I opened another short USD/JPY trade at 10638 and was closed at 10680 (SL) for -42 pips loss. Total USD/JPY trade P/L is +2 pips only.Also made a short of the GBP/USD at 19892 due to impatience in waiting for a turn. Yes, I was anticipating the price to turn

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-63422303007219877342008-07-14T06:19:00.003+08:002008-07-14T06:30:18.067+08:00

Wow! Another week of trading to start. I am excited about my last week's profit and hope that this winning streak will continue through this week.The EUR/USD short trade was taken out with a -37 pips loss just this morning. The waves on the EUR/USD charts does not seems to support this sell move. I have some confirmation from the USD/JPY charts that since it is moving downward, the EUR/USD could

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-41539797377909593562008-07-11T20:48:00.002+08:002008-07-11T22:29:05.748+08:00

I made terrific trades this week. And they were all purely just Powerwaves. No indicators and no other methods to trade. Just by trade with Powerwaves, I made more than 450 pips in one week! When I look at my account, it has boomed up almost 50% profit!Is this only a fluke week of trading? If yes, then I am bluffing myself with good results. If I am indeed seeing a breakthrough, then I am on my

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-71521006173707663762008-07-10T22:45:00.004+08:002008-07-24T07:37:56.265+08:00

I really wish that everyday will be like today. Made two more trades after the previous post.1. Long EUR/USD at 15693 (limit order) SL 15555 TP 15732Reason for putting this order: The down move from the 15761 high is expected to complete at the 50% or 66% fib level of an earlier up wave move. So I set an order to bring me into a Long trade.Result: The order was triggered and it brought me up to

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-34302971487710816212008-07-10T17:22:00.004+08:002008-07-24T07:38:25.264+08:00

Went short on the GBP/USD after exited the previous long trade.Short GBP/USD at 19796 SL 19836 TP 19752Reason: The currency pair has completed the upwave on the 30mins chart and showed a reversal signal.Results: The trade was closed at 19755 by my itchy finger. I was too impatient to wait for it to hit 52. In fact, the price tumbled beyond my TP and is currently (at the time of my blog entry -

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-67190526142605868302008-07-10T10:26:00.005+08:002008-07-10T17:18:02.103+08:00

Hi there! I am back after a short break. I was busy trying to start a new project and hopefully it will become another source of income for me. Yes, I am looking for alternative source of income not because I am not getting better with FX trading but I wanted something to keep me a little bit more occupied and yet allows me time to still manage my FX trading.Though I said I took a short break but

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-11079758159071991742008-07-01T09:33:00.004+08:002008-07-01T10:16:51.260+08:00

Previous Trade ResultThe EUR/USD Long at price 15635 was manually closed for a profit of 125 pips on 0.25 lot (2.5 mini lot). Too bad that I was not around in the morning to close it for more than 159 pips profit! Well as what my friend Maverick conforted me - at least profit and not losing trade.After closing this trade, I went short for quick profit on the EUR/USD at 15664 with a TP at 15640.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-42839193631902008772008-06-29T15:28:00.006+08:002008-07-24T07:39:03.850+08:00

I am publishing my trades made on the 26 and 27 June 2008.26 June 2008Long EUR/USD at 15635 SL @ 15575 (60pips below) and open TP.Reason to go Long: The price has dropped to the 38.2% fib from point K to L2. On the daily chart, it seems that it is likely to continue to move upwards, so I took a chance to go long at 35 believing that it is likely to move upwards (L2 was at 28 about 1 hour later).

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-66509861439378132852008-06-25T11:58:00.003+08:002008-06-29T16:28:26.780+08:00

Been trying to think of a good algorithm to the stategy on the EA that I am currently working on. However, I was unable to find a good stretch of time to sit down comfortably to just think of this problem.I was reminded not to be too perfectionist right at the start of this EA development project. I was told to just keep it simple (Someone KISSed me when he said - Keep It Simple, Stupid)...

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-84362321030283545902008-06-25T10:24:00.005+08:002008-06-25T11:58:14.005+08:00

I made two successful and two failed trades yesterday (25/06/2008).1st tradeBought EUR/USD @ 15513, SL @ 15470 (just 2 pips above the low) and TP @ 15585.Reason for trade:PowerWave setup was present. There was an inside bar on 30mins and price broke the high of the inside bar (15511).I have a double confirmation that the price has turned up so the trade was taken at market based on the above

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-33006809219230883702008-06-24T10:44:00.005+08:002008-06-25T12:12:19.930+08:00

I attended the refresher course yesterday where Aaron shared and taught about the Powerwave trading method. It was a good thing that I attended it and help a weeny little bit .... 8-).There were actually complains from people that Aaron kept going through the same or similar things over each referesher meetings like this. However, I will beg to differ from these opinions. Many new traders like I

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com2tag:blogger.com,1999:blog-2409080116432901414.post-79347361169289018282008-06-23T10:40:00.004+08:002008-07-01T10:01:51.243+08:00

Being a fulltime jobless trader is very lonely. There is just no one to work with and develop a closer friendship so that I can share my burden with. It is getting more often unbearable and demoralising.While, I am beginning to see light as a trader in making trades based on what Dar taught me and also on autotrading (my own EA) but at this time, it is just a small light over the other end of the

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com2tag:blogger.com,1999:blog-2409080116432901414.post-35545663713197974392008-06-20T22:32:00.004+08:002008-06-25T12:09:19.843+08:00

I have not been doing active trading recently. Well one of the reasons is that I am focusing on getting my EA programming. EA aka Expert Advisors are scripts that enables a trader to put his rules of trading into it and let it run 24 x 5.5 each week to take trades even when the trader is not at his PC....well sleeping, in the toilet and blah blah blah.....There are several trading strategies

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-65033819739031953482008-06-14T08:26:00.004+08:002008-06-14T14:31:13.061+08:00

The EUR has made its way down south as forecast by my master sifu Mr. Dar Wong (Singapore). My own analysis on the daily and 30 mins chart is in line with that forecast.The EUR/USD started its down move from daily chart high at 15843 forming a full powerwave pattern to a low at 15440 and has made a correction wave up to 15586. It subsequently started coming down and should be completing the

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-16920840828686291732008-06-12T20:20:00.004+08:002008-06-12T22:33:08.057+08:00

I had two trades today.1st TradeShort EUR/USD at 15533 SL 15586 TP 15481Time of entry was 0855 (Just before I step out to bring my kids to the park).Reason for entryBreakout at 15537. I entered the trade at market when I opened the chart just in time to see it at 15533.Result of TradeWhen I returned from my outing, the EUR/USD was at 15416...... :(What a pity .... but nevertheless I was able to

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-55514505598624797742008-05-14T09:52:00.003+08:002008-05-14T09:57:12.618+08:00

I have been most ill-disciplined in my life! I have not set a good working schedule and a good time-table to manage the time and limited resources that I have. I even gave up blogging on my FX trades!This may seems to be a small thing but it sure tells alot about me and if I will succeed in FX trading. As what Master Dar always tell us -a successful trader is one who is disciplined and

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-54358128561294806742007-12-13T17:18:00.000+08:002007-12-13T17:24:37.483+08:00

Short EUR/USD at 14675.7Reason for entry:The pair formed a double top on the 30mins and then it broke the BKO at 14670.But the trade went wrong when the price was rejected at the 200SMA on the 30mins and a spike killed my trade when it hit my SL. See my diagram for trade details.Loss: -30.3 pips

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-20504415693327675422007-12-11T21:33:00.000+08:002007-12-11T21:39:39.282+08:00

Short EUR/USD at 14709.1Reason for entry:I made a pre-emptive short as I noticed the momentum to move down is strong and should break the 14701 BKO on the the 30mins.The market then moved to reached the 2L at 14661. However, I was hoping it would move down again and so delayed my exit and closed at 14666.8 for a 42.8 pips profit.Profit: +42.8 pips

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-2779107980733939402007-12-11T07:23:00.001+08:002008-03-23T17:54:33.994+08:00

The EUR/USD I believe have turned and maybe moving up to the area around 14850 if it can break the 14750 resistance.Reason to believe this could be the trend is that even the stochastics is still crossed up 'strongly'.This is just my forecast using the Power Wave forecasting technique. This is a good technique to enable traders to make sensible forecasting and trade in the direction of the trend.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-52676314423009730142007-12-07T09:08:00.000+08:002007-12-07T09:23:04.115+08:00

It seems that the EUR/USD may also be doing some turning. The slow stochastics has cross (while it does not mean a confirmed turning but it is something to take note of).I just closed a long trade so as to keep my 80+ pips (because I am afraid that I might not get to keep them if I were to continue in the trade).Now as I looked into the day chart again, I could have just carry on with my EUR/USD

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-44954878047562983612007-12-07T08:28:00.000+08:002007-12-07T08:41:51.500+08:00

I just wonder why I didn't see that? The pattern, the indicator and the price actions....... missed it and only saw it when I review which is way too late! I got to learn to be more imaginative so that I can see something forming. This is the only way (I guess) that I can get into trade earlier and make more pips!

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-6831301514602898492007-12-07T07:07:00.000+08:002007-12-07T08:04:12.105+08:00

Long EUR/USD at 14547.8Reason for entry:The price after reaching 14525 area started to rapid move back up. On the 30mins it was a new low and also I feel that this could be the low or point A on the daily chart. I decided to take a chance to go Long on the EUR/USD at 14547.8. I had hesitated for a while else my entry would have been 14535/40 area.At 2303hr SGT, I decided to close 50% for a profit

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-62577520798075370542007-12-07T06:58:00.000+08:002007-12-07T07:17:02.335+08:00

Short EUR/USD at 14571.5Reason for entry:The price broke the BKO on the 30mins chart (14573). My entry was the second attempt so I entered the trade. The target was set to 14522 and the SL was at 14593.Exits:The market moved but stalled at many locations and at one time went back up above the bko. I was watching the screen and started to feel uncomfortable with the trade. I decided to close the

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-16794840327839561902007-12-05T09:12:00.000+08:002007-12-07T08:23:35.968+08:00

Short EUR/USD at 14741.3Reason for entry:The price has moved about 100pips and I believe it could have reached the limit of the day and the market may be doing a small 38.2% retracement.Reason for exit:I was wrong and decided to close the trade with a loss of 18.7 pips. The price went up as high as 14767. My exit was at 14760.0Loss: -18.7 pipsAn Update (0821 07 Dec 2007)I was actually right in

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-70049936168274807582007-12-04T08:25:00.000+08:002007-12-04T12:23:56.994+08:00

Long EUR/USD at 14665.0Reason for entry:The price broke the BKO on 30mins chart which has a high of 14665 at 0730hr SGT. I took the long trade at 1003hr SGT. At first I was worried as the price swing against me by almost 15pips but I decided to persist in being disciplined to follow thru the Power Wave Trading style and since I have set my Target and SL levels, I just went out to do my business.

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-57372944914977557232007-12-01T09:16:00.000+08:002007-12-04T12:23:44.168+08:00

Long USD/JPY at 11055.8Reason for entry:The BKO at 110.558 (30mins) was broken and the trade was triggered at 11055.8Also, the trade was entered because it is very clear that the market at that time was in the up move trend.Reason for exit:The trade hit my intended target price at 11090.0. It was a conservative target as I was not sure if the market can go higher at that time. Though I was wrong

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-37450954800896677872007-12-01T09:11:00.000+08:002007-12-04T12:23:30.448+08:00

Long EUR/USD at 14735.2Reason for entry:Something that I learned from Dar's course. Won't be able to share with you here but will be good if you can attend the course. It is very helpful in making a rookie to make good trades.The trade was then closed at 14749.0Reason for exit:This was intended to be a quick trade and it was taken because I was present in front of the screen. I would not have

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-34385927248752816362007-12-01T08:55:00.000+08:002007-12-04T12:23:17.622+08:00

Short the EUR/USD at 14812.6Reason for entry:The price broke the BKO on 30mins on 29 Nov 07. BKO was at 14820 and when I opened the chart, the price has already moved so a market order was entered and I got in a 14812.6.50% of the trade was closed at 14750.0 while the remaining was closed at 14733.6Reason for closing:The market did not show very clearly if it can break the 14750 support level. I

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-37804573370185525722007-11-29T21:08:00.001+08:002007-12-04T12:22:17.747+08:00

Back to one of the 1 million dollar topic - what is a trading plan? What really is a trading plan? What purpose does it serve me as a trader?As a Forex trader, I realised that an important attribute is to be disciplined and controlled under all extreme situation. Whether a trade is turning out well or bad, an experienced trader will be able to manage his emotion very well to remain calm inside of

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-9522611280918838302007-11-27T22:21:00.000+08:002007-11-27T22:26:50.106+08:00

Had a review done on Trade 01 of this week - short EUR/USD at 14872. The review was done together with Aaron and this is what how it goes:The BKO on the 30mins chart is not 14872 but 14850. I had entered this trade based on my own impatience to want to trade. I have already missed the entry and I was looking for the next best location to enter. I used the 14872 as the entry and it was wrong.A

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-12532237632706679692007-11-27T08:30:00.000+08:002007-11-27T08:39:01.501+08:00

Long EUR/USD at 14872.1Reason for entry:The price broke the BKO on 30mins chart which has a high of 14868 at 1630hr (SGT).However, I had to bear with a draw down of up to -15pips before seeing it broke the BKO again and moved up to a high of 14886.0 (+15 pips)The price then made a sudden drop and knock me out of the trade for a loss of 19.9pips.Loss: -19.9 pips

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-76373318496083705672007-11-25T21:58:00.000+08:002007-11-26T07:25:09.932+08:00

I lost 3.1% of my account because of a mistake I made in a crucial trade. I was very upset with myself not because I loss but because I still have not mastered the art of trading by making good consideration on all factors.Pips/Trade: -15.35%Account size increase: -3.09%Weekly SummaryI was supposed to defend profits that I capture in the previous week but I failed to do so. I made a big loss in

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-30818015070167132712007-11-23T23:31:00.001+08:002007-11-26T07:25:51.526+08:00

Long GBP/USD at 2.0710Reason for this trade:The price broke the strong resistance at 2.0700After breaking the resistance level, it retraces 50% to 2.0675.I then placed an order at 2.0710 to buy the GBP/USDAnd what do you know? It brought me up to 25 pips profit and then came crashing down on me! The price just keep coming down and I just got so stunned that I froze and close my computer.As I

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-76186029970702812672007-11-23T11:50:00.000+08:002007-11-23T23:08:04.187+08:00

The market did it again! They would wait for the period when people are not vigilant or watching the screen and then they will pull a very fast one to get to where they want to get! Today the EUR/USD just shot up to 14950 high!Of course, I am not blaming anyone..... I already know because of Dar's Power Wave Theory that it should go up to 14930 and 15130....On Wed Nov 21, 2007 9:08 am , he wrote

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-8936968429355700372007-11-22T15:42:00.000+08:002007-11-22T15:48:30.642+08:00

Short EUR/JPY at 16172.8Reason for trade:Similar to that of the USD/JPY trade (trade 02). The price was rejected at 16226 and then it came down to form the ABC downwave.A @ 16184B @ 16215The correct entry price should be 16181 but I hesitated and this trade was entered simultaneously with the USD/JPY trade (trade 02) at 16172.8.The trade was closed at 16142.7 for 30.1 pips profit as I was afraid

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-83820471585680056612007-11-22T15:23:00.000+08:002007-11-22T15:48:45.103+08:00

Short USD/JPY at 10883.0Reason for trade:The USD/JPY went up to a high of 10916.0 and then suffered a price rejection at that level and came down to form an ABC downwave.A @ 10888.0B @ 10913.0Correct entry should be at 10913 to 10895 area but I hesitated due to unbelief and fear of losses to enter only at 10883. This was a bad position which was the reason why I closed the trade @ 10874.4 as I am

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-79886879360556515922007-11-22T11:25:00.001+08:002007-11-22T11:40:11.671+08:00

I missed entry the EUR/JPY trade when the price was just at 161.25. It looks good as an entry but my fear gripped me again.The reason I saw a potential entry was that on the 30mins chart, it has formed a A, B, C1 and C2 and is now positioning to break BKOA (161.30) and then BKOc1 (161.67). The target basing on the ABC waves would have been 163.12 but there seems to be strong resistance at 162.70/

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-24029313958795322892007-11-22T10:17:00.000+08:002007-11-22T10:26:19.051+08:00

The EUR/USD is shooting up and aiming for 1.5000 level at least and USD/CHF is coming down south and seems to be going for parity with the US dollar. The GBP, JPY are all appreciating against the US dollar.Everyone is selling the USD but the world is still revolving and the US still has the economic muscle and they will be making more USD through trade with other countries. Over time, the US will

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-45304648590377038752007-11-21T18:54:00.001+08:002007-11-22T15:36:55.938+08:00

I made a loss today shorting the EUR/USD. Total loss was 19.6 pips.The price on the 30mins chart was coming down from 14842 to 14784. It then retrace up to 14821.A = 14784, B = 14821Mistake I made:I hesitated and took a long time to finally decide to short at 14791. This price is way too low....The price came down a bit and then swing up to 14811 which shook my calmness. I panic and closed the

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-81638670188346923532007-11-20T17:22:00.000+08:002007-11-20T18:40:02.641+08:00

I missed a EUR/USD trade today as I brought my kids out for an outing to the amusement park.The trade was to buy the EUR/USD. It was a perfect trade and would have been at 110+ pips at the time of this blogging.Well, it is always like that.....just when you are watching the market, the opportunity would seems so unlikely but once you are out of the computer screen watching.....it came. Isn't this

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-10019834123672334422007-11-17T13:15:00.000+08:002007-11-17T14:17:36.310+08:00

This week ended positive for me with +109.9 pips profit over 7 trades (5 winners and 2 losers)Pips/Trade: +15.7% Account size increase: +5.73%Weekly SummaryThere was a break in my trading rule in Trade 1 and 2.....I did a reverse trade when trade #1 was going wrong. Instead of reviewing the market condition, I just did a reverse and traded the other way without considering if there were any

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-91502432217922707962007-11-15T08:20:00.000+08:002007-11-17T14:18:30.056+08:00

[15 Nov 07 8:20am SGT]Trade Idea:Waiting for EUR to move up to 14688 region to short.TP1: 14601TP2: 14550[15 Nov 07 3:03pm SGT]1st Update on Trade Idea:Entered short at 14692 with 1.5 lotTP1: 14639 - Buy back 0.5 lotTP2: Probably at 14520Current Price: 14682Trade status : Approximately 15+ pips[15 Nov 06:32am SGT]2nd Update on Trade Idea:Entered short at 14692 with 1.5 lotTP1: Completed - Bought

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-10703867407198560332007-11-15T07:38:00.000+08:002007-11-15T07:49:43.052+08:00

After all the years of being a technical person, I have come one full turn from no risk lifestyle to a high risk lifestyle.It is not that living in low risk is no good - it does gives you comfort and security daily without having to worry too far ahead into time. You pass each day with possibly lesser thoughts and more smiles. It gives you satisfaction in time.Well, am I saying that living as a

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-15443011359109320992007-10-02T20:48:00.000+08:002007-11-17T02:36:13.192+08:00

I was visiting my ex-neighbour who has just moved out of our neighbourhood about few months ago. He moved nearer to town area and the flat was the top floor with a magnificent open view. Being unblocked by any other building he has a bird-eye view and a constant flow of cool clean air.Alright, back to Trading.....In our conversation, we were talking about the book Fooled by Randomness by Taleb. I

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-11309844603716672422007-09-27T11:04:00.000+08:002007-11-17T02:36:34.981+08:00

I had a fellow trader-friend who is still trading demo account and waiting to enter into the real money world. He has got the knowledge and skills but he was unsure of that and have to attend courses again to affirm his knowledge. His uncertainty is amplified by a past failure in his past investments. Now he just want to be very cautious.While there is nothing wrong with being cautious, it is

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0tag:blogger.com,1999:blog-2409080116432901414.post-49083229822283869722007-09-21T15:55:00.000+08:002007-11-17T02:37:00.041+08:00

A trading plan is one of the most important thing to a trader. After reading an e-book and from a good friend about trading plan, I am convinced that a trader MUST have trading plan.It is in this plan that I organise myself, trading systems and money management. It is in this plan that will help me to decide very quickly during the trading time.In fact, I have been brought up in an enviroment

FXSeekerhttp://www.blogger.com/profile/15090293758874983250noreply@blogger.com0