Look at how the candlestick move when CCI hits -100 and +100. Good profits!Your trade results will show if you are doing what is correct or you are doing what you like
Monday, July 13, 2009
13 July 09 Good Trades at 5mins
Look at how the candlestick move when CCI hits -100 and +100. Good profits!Your trade results will show if you are doing what is correct or you are doing what you like
Do you trade on news at 15mins?
Did a trade with straddle method last Friday on news release at night for Euro/USD. Result was good. Bag around 30pips. However, it did not hit target profit so I let it run over the weekend. This morning, market was on a uptrend. Not sure how strong this uptrend will be. Let's see it at the end of the day.
End of the day check on the open position and was surprised to see profit ran up to 50pips! Straddle method is really good for trading on news. It is widely used for options trading too
Your trade results will show if you are doing what is correct or you are doing what you like
End of the day check on the open position and was surprised to see profit ran up to 50pips! Straddle method is really good for trading on news. It is widely used for options trading too
Your trade results will show if you are doing what is correct or you are doing what you like
Friday, July 10, 2009
Candle stick signs for Trending market
Find this useful to identify trends with candlestick:
Trend is normal. Rising white bodies signal ascending trend and falling red bodies signal descending trend.
Trend is getting stronger. Rising longer white bodies with no lower shadows for ascending trend; falling longer red bodies with no upper shadows for descending trend.
Trend is getting weaker. Candle bodies become shorter and for ascending trends lower shadows occur, for descending trends — upper shadows.
Trend consolidation. Small candle bodies with both upper and lower shadows.
Trend is changing (not accurate signal). Very small candle body with long upper and lower shadows.
Your trade results will show if you are doing what is correct or you are doing what you like
Trend is normal. Rising white bodies signal ascending trend and falling red bodies signal descending trend.
Trend is getting stronger. Rising longer white bodies with no lower shadows for ascending trend; falling longer red bodies with no upper shadows for descending trend.
Trend is getting weaker. Candle bodies become shorter and for ascending trends lower shadows occur, for descending trends — upper shadows.
Trend consolidation. Small candle bodies with both upper and lower shadows.
Trend is changing (not accurate signal). Very small candle body with long upper and lower shadows.
Your trade results will show if you are doing what is correct or you are doing what you like
Thursday, July 9, 2009
9 July 09 EuroUsd good trade
Your trade results will show if you are doing what is correct or you are doing what you like
Enter Trade with AND Exit Trade with OR
Entering a trade is a process of asking AND answering questions
Is the trend up or down
Is the market choppy
Are prices trading above or below the Wave
Am I waiting for pullback or bounce
Am I waiting for a breakout or breakdown
A I setting up a momentum trade or a swing trade
Where are my swing highs and swing lows
Did my Fibonacci retracement and extension level give me secondary confirmation
Have my trendlines, support, and resistance levels formed a chart pattern
Are there any reports to be released today
Exit trade at stop-loss OR profit targets.
Your trade results will show if you are doing what is correct or you are doing what you like
Is the trend up or down
Is the market choppy
Are prices trading above or below the Wave
Am I waiting for pullback or bounce
Am I waiting for a breakout or breakdown
A I setting up a momentum trade or a swing trade
Where are my swing highs and swing lows
Did my Fibonacci retracement and extension level give me secondary confirmation
Have my trendlines, support, and resistance levels formed a chart pattern
Are there any reports to be released today
Exit trade at stop-loss OR profit targets.
Your trade results will show if you are doing what is correct or you are doing what you like
Wednesday, July 8, 2009
8 July 09 Good trade for EuroUsd Again
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Market experienced a selldown (illustrated by a gap down). It is puzzling as there is no news announcement... Entered after the gap and exited near the support line. Small amount but I expect more downtrend over the night. Sure looks bad the following day as it went down to as low as 1.3832. Market might range a little - rest a little before which it decides to continue the downtrend or move up. Judging from the major trend, supported by minor trend, I am downtrend bias. Let's see how market moves in Asia Timing later in the day.Your trade results will show if you are doing what is correct or you are doing what you like
US broker not allowed to carry trade over to next day?
By now you are probably well aware that NFA has made a new rule that prohibits US Forex Dealer Members from carrying customer accounts with opposing positions in the same account past the end of the trading day ("no -hedging"). The rule also requires all positions to be closed in historical order, otherwise known as 'first in first out' (FIFO). There has been wide speculation among user groups what these changes may bring, how they are going to affect the Metatrader platform, how automated trading scripts are going to be affected (Expert Advisors) and what retail trading is going to look like in the future.
The 'No-Hedging' rule has been in effect for over a month now and as many of you can attest most of the statements of "doom and gloom" have been highly exaggerated. The FIFO rule implementation has been extended once already and there is continuous talks amongst all companies, platform vendors (software companies), and NFA as to what will be permitted and how things should be working out. In the midst of these changes some dealers have decided to use the rule changes as a selling point for their offshore service centers. They try to amplify the uncertainty and to play on the customers' fears. It is unclear if they are well equipped to maintain a properly operating MT4 platform in these jurisdictions. Most of them have very little history of operating one. It is certain though that it would be costly and inconvenient to close everything and move an account to an untested firm.
The advice is not to make hasty assumptions based on the loose talk from people who spread rumors.
Your trade results will show if you are doing what is correct or you are doing what you like
The 'No-Hedging' rule has been in effect for over a month now and as many of you can attest most of the statements of "doom and gloom" have been highly exaggerated. The FIFO rule implementation has been extended once already and there is continuous talks amongst all companies, platform vendors (software companies), and NFA as to what will be permitted and how things should be working out. In the midst of these changes some dealers have decided to use the rule changes as a selling point for their offshore service centers. They try to amplify the uncertainty and to play on the customers' fears. It is unclear if they are well equipped to maintain a properly operating MT4 platform in these jurisdictions. Most of them have very little history of operating one. It is certain though that it would be costly and inconvenient to close everything and move an account to an untested firm.
The advice is not to make hasty assumptions based on the loose talk from people who spread rumors.
Your trade results will show if you are doing what is correct or you are doing what you like
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