When you turn on the TV (especially mainstream media) you are inundated with news of the demise of the dollar. Business news, national news and even your local news channels are leading into events with reports of the dollar and the economy. Analysts are featured and opinions are smattered across the airwaves in an attempt to provide an oracle response to current economic events.
Beware the source and follow your system.
In these volatile times it is easy to get caught up in the hype provide by all the news media and analyst. It is natural to want to look for guidance. Remember to trust your system and more important trust yourself. You, after all, are the single largest determinant of your success.
Your approach should remain consistent, almost impervious to the events occurring because you follow your plan with discipline and ruthless detail to executing at optimum performance.
Be disciplined and follow your plan. If market conditions don’t suite your style – sit this one out until conditions provide your with your personal edge!
Happy Trading!!
ForexJourney
Wednesday, March 19, 2008
Tuesday, March 18, 2008
How to Adopt the Traits of a Successful Trader
Hey Traders,
Here's a post by Heather Johnson that will serve you well in your trading – Enjoy!
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Not all Forex traders were cut from the same cloth, but the most successful investors do have several things in common. Whether you are a newcomer to trading or you are a seasoned pro who is trying to improve your game plan, the following suggestions may help you out. Below are five ways to evolve into a successful trader:
1. Become a lifelong student – Never stop learning about the business you are in. If you think you know everything about the Forex market, then think again. The successful trader is a lifelong student who constantly absorbs new information about the ever-evolving climate of Forex trading.
2. Be courageous – It's hard to overcome your fears when you are dealing with an unpredictable investment. Even if you are equipped with extensive knowledge about the market, you still have to put your money at risk every day. Reserve a small amount of apprehension (just enough to keep you sensible), but don't hesitate at every turn.
3. Hone your math skills – You are wading through a sea of mathematical information every day when you look over your charts. The most successful traders know how to take that large amount of information and pull out necessary information.
4. Be patient – Become a long-term investor and put all notions of overnight success to rest. You must adopt a stoic attitude, as you make the most informed decisions about your business and leave the rest to fate.
5. Learn to love trading – Maybe you already do love trading and that's why you are involved with Forex. However, many people are either too wrought with anxiety to enjoy it or merely see it as a job. If you don't like trading, don't trade. A great trader will love the roller coaster ride he/she is on.
Are the above suggestions obvious? Perhaps, but many of us take a wrong turn somewhere and need some simple advice to get us back on track. In order to stay on top of your game, you will need to constantly reinvent yourself, as there is no world that calls for flexibility more than the Forex market.
About the Author:
Heather Johnson is a freelance finance and economics writer, as well as a regular contributor for CurrencyTrading.net, a site for currency trading and forex trading
information. Heather welcomes comments and freelancing job inquiries at her email address heatherjohnson2323@gmail.com .
ForexJourney.com
Happy Trading!!
Here's a post by Heather Johnson that will serve you well in your trading – Enjoy!
--------------------------------------------------------------------------------------------------
Not all Forex traders were cut from the same cloth, but the most successful investors do have several things in common. Whether you are a newcomer to trading or you are a seasoned pro who is trying to improve your game plan, the following suggestions may help you out. Below are five ways to evolve into a successful trader:
1. Become a lifelong student – Never stop learning about the business you are in. If you think you know everything about the Forex market, then think again. The successful trader is a lifelong student who constantly absorbs new information about the ever-evolving climate of Forex trading.
2. Be courageous – It's hard to overcome your fears when you are dealing with an unpredictable investment. Even if you are equipped with extensive knowledge about the market, you still have to put your money at risk every day. Reserve a small amount of apprehension (just enough to keep you sensible), but don't hesitate at every turn.
3. Hone your math skills – You are wading through a sea of mathematical information every day when you look over your charts. The most successful traders know how to take that large amount of information and pull out necessary information.
4. Be patient – Become a long-term investor and put all notions of overnight success to rest. You must adopt a stoic attitude, as you make the most informed decisions about your business and leave the rest to fate.
5. Learn to love trading – Maybe you already do love trading and that's why you are involved with Forex. However, many people are either too wrought with anxiety to enjoy it or merely see it as a job. If you don't like trading, don't trade. A great trader will love the roller coaster ride he/she is on.
Are the above suggestions obvious? Perhaps, but many of us take a wrong turn somewhere and need some simple advice to get us back on track. In order to stay on top of your game, you will need to constantly reinvent yourself, as there is no world that calls for flexibility more than the Forex market.
About the Author:
Heather Johnson is a freelance finance and economics writer, as well as a regular contributor for CurrencyTrading.net, a site for currency trading and forex trading
information. Heather welcomes comments and freelancing job inquiries at her email address heatherjohnson2323@gmail.com .
ForexJourney.com
Happy Trading!!
Asean Committee for Disaster Management
Been a busy week. I am involve in the ACDM providing logistic and technical support. Hopefully everything will be over by end of this week. I am going to post a simple system for beginners. Its a simple system but requires good dicipline. See you later
Saturday, March 8, 2008
Another piece of the puzzle
Previously RSI 8 was shown as possible reverse point. It needs more filter since on a trending market, price tends to continue following the trend.
The filter inserted is LWMA with the value of 8, 24, 48 and 192. Generally 8 and 24 gives the signal when it crosses and the rest is dynamic support and resistance. 8/24 cross should be inline with RSI8. Meaning when the cross happens, RSI8 value should be < 50.
If you see the chart, I entered 2 position based on RSI8 max. The price hovers above my entry point and at the end 8/24 cross + RSI8 <50. I enter another post. Guess what, my early entry is only 10 pips lower then after i got the signal. Hopefully next week EG will continue to drop.
BTW, I found that MV indicators are different from MT4 brokers. Its seems that MV indicators are much more accurate and less prone to whipshaw. Furthermore MV has the last piece of the puzzle which is not available on MT4 platform.
Maybe next time I will post the last piece.
Saturday, March 1, 2008
Fuel Saver
This is a different topic, but it is one of my hobby. Its about cars.
Basically cars need 3 things to move that is fire, air and fuel. This 3 things combine gives the car power to move. If you want to optimize the car efficiency you need to work with this 3 things mainly.
When we talk about fire, the electrical system, fire from the spark plug is the element that make the fire. It must be working at its peek for the car to feel good.
For air is anything that requires air to move, exhaust system, air in the combustion chamber, air filter, tyre pressure etc.
Fuel, is petrol or diesel in the tank that feed into the engine.
Of all the 3 parts, fuel is the hardest part to optimize. We can always use bigger or better injector but the result is not very good in terms of fuel economy.
A car that is optimize should be powerfull and fuel economy at the same time.
Recently I found a device that optimize the fuel. Logically its a hard thing to do. Fuel in form of liquid and it optimize the fuel and maximize the burning process resulting in increase power and fuel economy.
I was sceptical at first but I bought it anyway. No harm trying with price tag of RM250.00. Put in on my car.
Test Subject:
The test subject is a small car. A kancil fitted with Daihatsu L2S engine. 660cc turbo charger automatic. This baby is so small and lightweight yet has so much power. It can go head to head with the latest honda civic 1.8 on drag race.
An old car with 4-AGE engine. The latest engine from the 4AG family of toyota. 1.6cc, extremely powerfull and super responsive compared to older version
Waja with 1.6cc engine automatic. One of the best Proton ever built. Engine power and road handling equivalent to many european cars. It is based on Lotus technology anyway. No surprise.
The Spec:
Daihatsu Mira TR-XX Turbo EFI 12 Valve Limited Edition L200S:
Engine ID : EF-JL
Engine Model : FMPX-S2(L200S)
Engine Type : Water Cooled,4 Stroke,Inline 3,SOHC 12 Valve Turbocharger,3 Cylinder
Bore x Stroke : Same
Fuel System : Multi-Point EFI(Electronic Fuel Injection) with ECU(Electronic Computerised Units)
Cubic : 659cc
Torque : 10.9kg at 3,600rpm
Hp : 64 at 6,400rpm
Boost Pressure : 0.8bar
Top Speed : 170km/h to 180km/h
Weight : 750kg
Spark Plags : Nippon Denso = QL22TR-S or NGK = BCPR7EKD
Turbocharger : IHI Turbocharger
Average Fuel Consumption: 6km/RM1
Test Result:
After installing the fuel saver. 1st tank of fuel gave me 7.4km/RM1. Thats a savings of about 12.3%. Not a big number but I must tell you, throttle respond is fast. Its like a cheetah waiting to be unleashed. Everytime I push the throttle, the car just jump away. Maybe thats why I dont have good fuel economy, I was driving like a maniac.
Btw I forgot to mention. The spec upthere is the standard spec. After a few modification, the car is transform from a car for grandmother to a racing car. 0-100kmh in less than 10 seconds.
I will update on the other 2 cars later. At the moment Im still crazy with the throthle respond and jumping away everytime I wanted.
Update:
All cars reported to have increase in HP. Fuel savings is at minimum ranging from 10% - 30% but the power increase is enough to justify the price. For RM250 there is a huge upgrade to vehicle power. Do you like it if your car can do 0 - 100 in 10 seconds. I love every second of it.
Basically cars need 3 things to move that is fire, air and fuel. This 3 things combine gives the car power to move. If you want to optimize the car efficiency you need to work with this 3 things mainly.
When we talk about fire, the electrical system, fire from the spark plug is the element that make the fire. It must be working at its peek for the car to feel good.
For air is anything that requires air to move, exhaust system, air in the combustion chamber, air filter, tyre pressure etc.
Fuel, is petrol or diesel in the tank that feed into the engine.
Of all the 3 parts, fuel is the hardest part to optimize. We can always use bigger or better injector but the result is not very good in terms of fuel economy.
A car that is optimize should be powerfull and fuel economy at the same time.
Recently I found a device that optimize the fuel. Logically its a hard thing to do. Fuel in form of liquid and it optimize the fuel and maximize the burning process resulting in increase power and fuel economy.
I was sceptical at first but I bought it anyway. No harm trying with price tag of RM250.00. Put in on my car.
Test Subject:
The test subject is a small car. A kancil fitted with Daihatsu L2S engine. 660cc turbo charger automatic. This baby is so small and lightweight yet has so much power. It can go head to head with the latest honda civic 1.8 on drag race.
An old car with 4-AGE engine. The latest engine from the 4AG family of toyota. 1.6cc, extremely powerfull and super responsive compared to older version
Waja with 1.6cc engine automatic. One of the best Proton ever built. Engine power and road handling equivalent to many european cars. It is based on Lotus technology anyway. No surprise.
The Spec:
Daihatsu Mira TR-XX Turbo EFI 12 Valve Limited Edition L200S:
Engine ID : EF-JL
Engine Model : FMPX-S2(L200S)
Engine Type : Water Cooled,4 Stroke,Inline 3,SOHC 12 Valve Turbocharger,3 Cylinder
Bore x Stroke : Same
Fuel System : Multi-Point EFI(Electronic Fuel Injection) with ECU(Electronic Computerised Units)
Cubic : 659cc
Torque : 10.9kg at 3,600rpm
Hp : 64 at 6,400rpm
Boost Pressure : 0.8bar
Top Speed : 170km/h to 180km/h
Weight : 750kg
Spark Plags : Nippon Denso = QL22TR-S or NGK = BCPR7EKD
Turbocharger : IHI Turbocharger
Average Fuel Consumption: 6km/RM1
Test Result:
After installing the fuel saver. 1st tank of fuel gave me 7.4km/RM1. Thats a savings of about 12.3%. Not a big number but I must tell you, throttle respond is fast. Its like a cheetah waiting to be unleashed. Everytime I push the throttle, the car just jump away. Maybe thats why I dont have good fuel economy, I was driving like a maniac.
Btw I forgot to mention. The spec upthere is the standard spec. After a few modification, the car is transform from a car for grandmother to a racing car. 0-100kmh in less than 10 seconds.
I will update on the other 2 cars later. At the moment Im still crazy with the throthle respond and jumping away everytime I wanted.
Update:
All cars reported to have increase in HP. Fuel savings is at minimum ranging from 10% - 30% but the power increase is enough to justify the price. For RM250 there is a huge upgrade to vehicle power. Do you like it if your car can do 0 - 100 in 10 seconds. I love every second of it.
Saturday, February 23, 2008
A Piece Of the Puzzle
By this April, I would have spend 2 years studying forex. By far this is the hardest thing to understand. Compare to a pc, I learned to assemble a pc and isntall windows in only one day, learned to install car sound system in 3 hours. Forex 2 years is like just waking up from sleep and still in bed. Thats is to compare how hard forex is. If anyone out there tells you forex is easy, then he never traded before. Btw, the title of the blog is just of SEO.
Forex is very difficult to understand. What we can do to survive is to come up with a plan. A plan is based on behaviour pattern. At certain condition, the market will behave the same way most of the time. Today I will show you a piece of a puzzle showing that forex market behave the same most of the time at certain condition. If you can anticipate its behaviour, I am sure you can make money of it.
This a 4 hour chart of Gbp/Usd. The yellow circle indicates where RSI 8 crossed below 22 or above 78. 6 out of 7 times, whenever RSI crossed the extreme level, it will retrace big enough to gain profit. Only once the price remain the same. Currently RSI is at extreme level, so a drop is expected next week. A behaviour if can be anticipated can bring profit. Use it wisely.
Forex is very difficult to understand. What we can do to survive is to come up with a plan. A plan is based on behaviour pattern. At certain condition, the market will behave the same way most of the time. Today I will show you a piece of a puzzle showing that forex market behave the same most of the time at certain condition. If you can anticipate its behaviour, I am sure you can make money of it.
This a 4 hour chart of Gbp/Usd. The yellow circle indicates where RSI 8 crossed below 22 or above 78. 6 out of 7 times, whenever RSI crossed the extreme level, it will retrace big enough to gain profit. Only once the price remain the same. Currently RSI is at extreme level, so a drop is expected next week. A behaviour if can be anticipated can bring profit. Use it wisely.
Thursday, February 21, 2008
Finding Top
Difficult to find the top. Anyway try this out
Short EU @ 1.4807 or better
Very close to the top.
Short EU @ 1.4807 or better
Very close to the top.
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