Still on Gbp/jpy

Still shaky on gbp/usd, i opt stay out.

Continued my swing on gbp/jpy but a slightly narrow range, missed the ride down. Moved 200++ pips, didnt feel bad abt that trade. Was too tired to make decision and decided to let go.

Opened 2 trades long next day. Re-adjusted stop on 1 trade, had to go out. Hit stop but still profit. Stopped out on usd/cad(-30pips), at least i have another gbp/jpy trade stillopen, will move stop lvl to lock in profits while maintain profit target 2.

Multiple US data lined up for tomorrow, opportunity awaits!

Result: +31pips

"May the pip be with us"

Back to business

Market back to normal on tuesday, continued swinging up and down on gbp/jpy for some profits.

Looking at Gbp/usd to close at 9850, pair gained some points but was pulled back down below 1.9800, steered clear but still on a look-out for this pair.

US-UK Holiday...quiet

Nothing much today as Europe/US market were closed. So im pretty much on holiday too. Made no trades today. But one trade i kept since last week hit my stop. Ah well that was as much im willing to lose.

Spent most of the day reading and printing stuffs. Gotta keep myself busy. Probably go catch Pirates 3 rather than lose more money, savvy?

A big WTF?!

Again i looked into gbp/jpy, only looking for long trades today (positive carry trade is nice) and since this pair is still trending up on my 4hr chart, price dropped to 239.66 during early asian market...profit-taking as reported in newsflash, providing me with an opportunity to take the trade, Long @240.52 limit on target1 241.60 stop 240.20, will re-adjust limit to pt2 if in an event of a break-out(UK GDP news today)

GDP news came out better than forecast, but things got slow when news released "Short-Range missiles fired by N.Korea into Sea of Japan", as reported, this boosts US dollar. Have no idea why. ADSL line usually drop during rain, so im more worried abt this, heavy rain atm.

Later in the evening, price went up but before i can re-adjust my position, connection went out. Good thing i have my limits/stops set. From my experience, trading in laggy conditions will just upset me more. Unlike farming/pvp-ing or tournaments on mtgo, this kind of stress is far worse. GG Streamyx, whether itll continue to go high hit my target or stop if it slides down just like it did last week, i never know. Either way, theres nothing i can do. Sigh.....

Rising sun

Only entered trades on gbp/jpy(short) and adjusted stoploss and kept cad/jpy(+carry trade), was stopped out of cad/jpy trade, short of 10pips from my target :(
Yen gained some ground today.

Also made a bit on ranging eur/usd, taking advantage of 3425 - 3455 price range this week. Still wont give me 3415, its ok. i'll take the next ride up.

Result : +550 pips

Less order + no news = quiet market

Been a slow week so far, but ive been trailing gby/jpy since last friday's drop(237.75 low) and this pair managed to hike back up(239-ish) and remained flat for last 2 days. This pair is also at its peak, last high was recorded at 239.15 in '98. And today made a massive advance to 241.93, 200++ pip movement.What a beast! Taming this aint easy.

I did place few long trades but also shorted the pair :(
Must practice not to go against a trend!! or else things can get really ugly.

US Durable goods report tomorrow, let's see what other opportunities lie ahead.

Result: -2500 pips, balance still above 5k and expiring next week :(

Slow day

Kinda slow today, probably due to lack of news. Next one out will be on thursday, US Durable Goods report. Have to wait and see.

Luv it when plan comes together

Gbp/jpy failed to breach 239.75 level today, had 3 lots on sell and with good forecast data is bad news to me. Downside surprise! looks like that double top is forming nicely now as UK retail sales data came out weaker than expected.

So far gbp/jpy been my fav pair of the week, pair hit profit target and still going down as i write. Way i see it, if it breaks 237.70 thatll be trend indicator change to down and if it goes further 236.75 thatll hit the d.top neckline, estimate roughly another 330pip movement. Definately have to watch this pair next week.

Result: +3520pips

Now time for some 40k action. A TA result for me will just complete my week.

Double Top?

Still trading gbp/jpy today, looks like getting comfortable with range trading. Have to re-adjust lots when trading real money. As for eur/chf,now stalled at 6550-ish level. Stopped out of gbp/usd trade(-130pips)

Gotta luv chart patterns, a possible double-top forming on gbp/jpy? one must be mindful of various signs/patterns when navigating thru the webway. Been an excellent week so far, will watch this pair tomorrow.

As for news, went in with the Loonie vs Yen. News came out good fr canadian dollar. Ka-ching.

Result: +728 pips

Day of mixed data

Got stopped out of my eur/chf, was shorting that pair. Already on all time high and went past 1.6535 resistance. Will look if the pair can sustain that break.

UK data today, traded gbp/jpy & gbp/usd during evening - pound slumped data came out weaker than expected , covered earlier loss with a bit of profit.

Got excited, came across news trading method(in malay!) from some trade forum, couldnt test/find any opportunities during US news, did nothing, im not too convinced to get in this time. Will wait for next one. This has tested my patience to a higher degree.

Result: +60 pips

Nice Rebound!

Minute published my last post, some sort of tidal wave hit against the dollar. Was waiting for a rebound. Got on my surf board and hit the wave.

Result: +1442 pips. Sweet!

News..news..more news

More data released today on all major currencies, woke up early to catch Asian trade. Spent most of the day looking fr IB signals but mostly euro/uk data coming in towards the evening, so i opt-ed to stay out.

Turns out US data was less forgiving than expected. Bummer. Well at least theres rebound on gbp/jpy, looking fr a good price to close.

Month#2 Week 3 - Monday

Currently holding open positions(long) eur/usd & gbp/usd

Heavy rain today, power trip during early Europe trading time. UK data expected in few hours time. Re-adjusted stop to break-even on gbp/usd. Aud/usd order did not trigger. Ok thats fine, ill wait.

UK data released, softer than expected. *Slap* i was stopped out of that trade, its alright, didnt lose money either. Ok enough of that, i wanted to test this IB system. Saw signal for long. entry 9811 target 9825/30.

0715 NYT - closed eur/usd(happy with profit) & gbp/usd positions.
Result: +310 pips

Not much news action today, maybe tomorrow as US data looms on the horizon. Don't ask what its abt. I dont know.

Month #2 - May, 2007

Week 1

Demo account expired, got another. Trying out range trading with cross pairs avoiding usd, eur/jpy looks interesting and its goin up-down between 2 levels. This method looks promising, will continue.
Been following gbp/usd, going down within daily channel, entered 1.9987 target 1.9803 stop 2.0120

Week 2 (Monday - Wednesday)
Truckload of news coming out on thursday with pound,dollar& euro. Everyone talking abt BoE hike rate, more news trading. Yes, i have no idea whats happening nor do i fully understand the whole thing. But what i know is that i hv 2 trades open on gbp and its goin to affect my trade.

Week 2 (Thursday)
Thursday! time for some action! da plan, short if it goes below 9850 target 9800, long if above 9930. Currently trading at 9920. Went thru idea many times.
News release, bad UK data so pound slides to 9880, looking good atm. US data released, market was moving too fast and client stalled. Got 2 orders(short) in, but panicked when price shot up by 30-40 a blink/charts not updating, closed all positions. As it turned out price continued downwards to 9780. Couldve done better. Lesson, have a plan and stick with it and learn to chill. Weekends, boring.

Week 3
Gonna watch aud/usd this week while keeping an eye on gbp/usd.

Riding the news

I know nothing of economic forecast, reports etc etc but need a plan how to do this. Got another demo account but misclicked on 50k account. It's ok just want to test this news trading thing.

Several news lined up this week, the plan: follow the wave, be mindful of the support/resistance levels. -25k by end of the week. Definately need more practice. Also, don't get emotional.
Things to do in may, learn/test range bound trading technique and news surfing.

Month #1 - April 2007

Month 1- April activity
Opened demo mini-account, nice client interface, lotsa colours, apa ni 'buy/sell' button, click,click,click. After few days, im now down 600usd. Ok, time to find a trading plan and test it out. Still learning the basics, thanks to irman for loaning me a book on technical analysis.
So far so good, market gave signal for an entry. Placed order with stop/target value, now lets see how it turns out. Can't keep up with 8 on-going pairs!, better stick to 1-2 pairs.

End of april, balance abt $6,100. i like this system. Simple to follow with target limit/stop calculation. Need to to be more disciplined and work on timing and profit-taking.

Lesson, seen high market activity, ah news release. 50++ pips in few minutes, Did a search and found trading in the news is a popular technique, wait i know nothing of inflation rates,PPI,retail sales report, employment growth etc etc. Looks interesting....

I...have arrived

Main objective here is to record FOREX trade logs and experience.

Currently trading on demo mini-account and testing several trading plan that is simple to follow. Here i am, armed with my technical analysis book(on loan) and free java applet chart(cant afford to subscribe yet) with a monthly target. The journey begins.....