Trading Journal – 1 February 2012

SELL EUR/USD @ 1.3178, TP: 1.3006, SL: 1.3282
BUY USD/CHF @ 0.9141, TP: 0.9246, SL: 0.9078
SELL AUD/USD @ 1.0665, TP: 1.0559, SL: 1.0729
SELL USD/JPY @ 76.40, TP: 76.14, SL: 76.53
SELL EUR/CHF @ 1.2054, TP: 1.2023, SL: 1.2073
SELL EUR/JPY @ 100.55, TP: 99.21, SL: 101.38
SELL EUR/GBP @ 0.8360, TP: 0.8255, SL: 0.8424


Trading Journal – 31 January 2012

After analyzing the market for about 10 minutes, 8 trades were set up as usual:

  • BUY USD/CHF @ 0.9136, TP: 0.9212, SL: 0.9092
  • SELL EUR/USD @ 1.3190, TP: 1.3072, SL: 1.3275
  • SELL EUR/GBP @ 0.8392, TP: 0.8342, SL: 0.8421
  • SELL EUR/JPY @ 101.14, TP: 99.75, SL: 101.94
  • BUY EUR/CHF @ 1.2041, TP: 1.2066, SL: 1.2027
  • BUY AUD/USD @ 1.0529, TP: 1.0639, SL: 1.0472
  • BUY GBP/USD @ 1.5663, TP: 1.5735, 1.5622
  • SELL USD/JPY @ 76.68, TP: 76.12, SL: 77.00

Currently, there are 2 trades running which are USD/CHF and EUR/USD.

To be updated.


Pivot Point Strategy

In today’s post, I am going to talk about a trading strategy that utilizes daily pivot point indicator only. Luckily for my broker which is IBFX, it is already included in mt4 platform already. So I don’t need to google any pivot indicators.

Time Frame: Daily chart

Before I proceed with my trading plan,let me tell you how I see trend using daily pivot.

As you know, a new candle bar will form every day on a daily chart correct? So, if let say the opening price is higher than pivot point, that’s mean the trend is bullish and I am gonna set a buy limit order.

On the other hand, if let say the opening price is lower than pivot point, that’s mean the trend is bearish and I am gonna set a sell limit order.

Say, do you see the beauty of this strategy? Its a set and forget strategy dude!

Trading Plan:

  1. Wait for a new daily candle to form. You don’t need to stare at your PC by the way. Usually, I will only setup my trades after I reached home after work.
  2. If the Opening price of the new candle is higher than pivot point, set a buy limit order @ S1. TP @ R1. SL @S2. Set the expiry of the trade to the following day at 00:00.
  3. If the Opening price of the new candle is lower than pivot point, set a sell limit order @ R1. TP @ S1. SL @R2. Set the expiry of the trade to the following day at 00:00.
  4. Close your PC, and check it out the following day. If there are any open trades, close it manually be it in profit or loss and then set  new limit orders for that day.

I hope that you enjoy this post. Have a nice day!


How To Buy Dinar?

Iraqi dinar has been consistly over $3 american dollars to dinar prior to the invasion. Iraqi dinar is not freely traded, and is not being used in any significant international transactions. Iraqi dinar will rise because the Iraq economy will begin to boom. Iraqi dinar is the official money of the Republic of Iraq. Iraqi dinar is the perfect storm of financial desperation, ignorance and the internet.

Iraqi dinar has been sold, for a few years now. Iraqi dinar has been promoted by the dealers who are counting on the get rich quick mentality of Americans. Iraqi dinar is supposed to be the biggest investment of the decade these days. Iraq is like that. I sell khalas, your father grows khalas. Iraq is a different situation entirely however, with many years of occupation and civil war affecting the economy.

Iraq is a country that has been devastated by war. Iraq is currently pumping less oil than before the war began. Iraq has signed contracts with foriegn oil firms to help them extract more oil in the next 7 years. Iraq is the 2nd largest oil producer. Iraq can use their oil to pay off debt and they have very low debt now.

Iraq could possibly be a great big participant on the oil stage like Kuwait, UAE and also Saudi Arabia.. Iraq has massive untapped oil reserves that are as big as those of Saudi Arabia. Iraq has the very best proportion of under exploited oil fields. Iraq is also benefiting from a slow but steady transfer of Shiite religious funds from many foreign countries, notably Iran. Iraq is paying 90% of its own expenditures, including the cost of economic reconstruction.

Iraq was in a chaotic security following the end of Saddam’s regime and the coalition was slow to assert control.

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I hope that you enjoyed reading this post. Please do ask me if there is anything you want to ask. I would be very happy to answer them. :)

 


What Are FOREX Robots?

Trading is possible with a small investment, and this means that anyone is eligible to trade. Forex trading was once controlled by commercial, central and investment banks. Forex trading is a 24-hour, 5 day a week market. Software can instantly track all the activities in the forex market 24 hours a day. System can instantly monitor all the activities in the forex market day and night.

Market is huge and it does a trade of billions of dollars in the US exchange in a day. Market is enormously liquid, making it simple to commerce in most currencies. Trading is based on the ever fluctuating currencies of other countries and how they interact with each other. Forex trading is defined as the buying and selling of currencies to make a profit. Forex trading could bring in lots of profit, but it could also result in bankruptcy.

Forex trading is one of the most exciting ways to make money. It is also one of the easiest ways to make money conveniently in internet today. Money can be made by buying a forex trading system that has been tested and proven. Forex trading is not done overnight. Forex robots are designed to automate your Forex trading decisions for you.

Forex trading can be brutal to learn. Forex trading has evolved since its early days when it was still unavailable to the ordinary investor. Forex robots are one of the smartest creations that help traders earn sizable income. Forex robots are more like marketers coming up with a product to sell to eager to do good traders. Forex robots are based on technical indicators.

Forex robots are automated software programs that will search for profitable trades and trade in profitable currency pairs. Software will continue to make trades until you stop it. System is either delivered as a live course, as a book or Ebook or even purpose built software. Forex robot is a system that help to to trade forex automatically. Forex robots are great ways to invest money.

Market is always active and so you need to be too. Forex robot will buy and sell your positions when it senses the optimum moments to strike. Traders can subscribe to newsletters so they can directly have an update through their e-mail. Traders are also looking for ease of use with good technical information.

 

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Tweet Attack

Almost every twitter marketer will tell you that you will need to have followers first before getting any traffic from twitter.

Well, that is very true to average twitter marketers. They follow other users in twitter and wish to follow them back, and then send offers. That is a very time consuming process and gives very small result.

I want to introduce you a new twitter tool that rapidly gaining popularity all over the internet not just because it can do everything you need to succeed in twitter but because of its capability to drive traffic from twitter to your website even if you have 0 followers.

It’s called TweetAttacks, its still new and everyone seems going crazy about it.

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Are you still doing the old way of twitter marketing that been doing by 99% of twitter marketers?

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Happy tweeting


Leading Indicators Strategy

Indicators:

    Stochastic
    RSI
    Parabolic SAR

Trading Plan:

  1. Both stochastic and RSI must point to the same direction. If one of them is at overbought/oversold. The trade is still valid unless both of them are at oversold/overbought level.
  2. Only enter the trade on the 1st dot of parabolic SAR in the direction of step 1.
  3. SL is at the 1st dot. TP is twice the SL but you have to round it to the nearest round number.

I will include some examples later on..


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Follow The Trend Example_1

Alright, I will straight away go the point.

Indicators:

  • Trend Line
  • Stochastic
  • MACD
  • Fibonacci Retracement
Trading Plan:
  • Draw a Trend Line
  • When the price is near the trend line, look at both stochastic and MACD for possible entries
  • If both indicators shows a sell signal, sell. And vice versa
  • If price broke the trend line, draw a Fibonacci Retracement and wait for the price to approach the Fibonacci level
  • Once The price is near to Fibonacci level, check Stochastic and MACD for possible entries
EUR/GBP H1:
As you can see here in this example, The price broke the trend line. So, I drew a Fibonacci Retracement. As the price approaches  38.2 level, Stochastic shows oversold which indicates a possible short entry. But MACD was still bullish. Later on eventually, MACD turned bearish, Stochastic started going down, and price was not able to break the resistance at 38.2 percent which indicates a bearish entry in my view.
So, in my view its good to short now and set TP at 0.0%, SL at 50.0% which results in 1:2 risk to reward ratio which I think is good.
The price hit TP after about 2 hours from opening which results in about 29 pips if we were to sell.
Ok that’s all for today. I am still looking for a reliable way to set TP.