How To Become A Currency Trader

If you are anything like me, you probably imagine that it is difficult to become a foreign currency trader. Perhaps there are rules, regulations and other hoops that have to be jumped through. Maybe you need large amounts of cash in order to get started.

No.

Becoming a Forex currency trader is incredibly simple!

Get A Demo Account
As I beginner I'd suggest you sign up with Oanda. Not only do they have a good reputation but they offer other advantages for a beginning trader as well:

• You can sign up for a live account with very little initial capital.


• You can execute trades of just about any arbitrary (small) size.

Of course, you can start with a free demo account before getting a live account. Just about everyone will recommend you do so, including me. However, at some point you need to trade with real money to learn about the psychological aspects of trading.

So, that's what I did. I started with $100 in my account and was off to the markets. Sweet, I'm a forex trader!

Learning To Trade Foreign Exchange
If you have a demo account, enter some trades. See what happens. Then, after the results come in, search for information about what happened. You'll find some helpful advice in blogs, such as mine, as well as various tutorial and forum sites. I would suggest that you buy a book or two on forex trading, technical analysis and perhaps something concerning the attributes of successful traders. I've listed some books that I found helpful on this blog post about getting a forex education.

Trading With Real Money
Don't rush to trade with real money. One of the most important things to realize is that there is always another opportunity -- there is no need to let the fear of missing out intrude on your good sense. In fact, the issue of psychology is immensely important in trading and once you move to real money trading you'll realize this very quickly.

Frankly, though I counsel otherwise, I wasn't be able to trade realistically while not actually risking my own money, so I started trading with a tiny account, funded with $100, almost immediately. Personally, with a few dollars on the table, I found that my interest level, formality and trading style were all upped a notch.

Trading Sessions
Except for weekends the markets are open all the time. However, different periods of time often have different characteristics. This is because trading in currencies generally follows the business day around the world from timezone to timezone.

Account Safety
Oh, I should mention, these days Forex trading with a reputable company (such as Oanda) is quite safe. While there are large risks and large rewards, my risks are essentially limited to the capital that I have put into my account. With wise strategies I can limit risks further, but as a beginner it is comforting to know that I can't lose more than I let sit in my account no matter how foolish a beginner mistake I might make.

I should stress that you could lose all the capital you put in your account, so do not start out with a large account with the idea that you will only conduct small trades. At the very least, create some sub-accounts and keep the majority of your capital out of harms way until you have blown up your play money account, learned a few lessons, and know how to protect your capital.

What You'll Learn
Above and beyond the simple mechanics of opening an account and executing trades there are tons of things you'll need to study to become a successful trader. These include:

• Reading candlestick charts.
• Interpreting indicators.
• Support and resistance levels.
• Fundamental economic analysis.
• National economic news events.

Each of these issues can span multiple chapters or perhaps an entire text depending on the depth of information being presented.

I also invite you to read my blog. I started out from scratch and can address issues in a way that can be helpful for a beginner. Please feel free to ask questions and I'll do my best to point you to useful information if I can't give you a good answer myself.

Part Time Currency Trader

As I've written before it is quite easy to become a currency trader. The harder part is being a currency trader that doesn't lose money. You see, according to the scuttlebutt on the forums, about 90% of new traders end up losing their money to the market.

Are you thinking about trying your hand?

I'm not here to talk you out of it. I myself am a part time currency trader. By day I work at my office job and by night I fight crime with a mask and cape. Wait, no, that's not right. By night I trade online when family duties allow me to squander a chunk of time.

Trading part time has it's challenges. You will see endless market movements that you did not participate in. You will miss opportunities to open or close a position even though your ideas about what would happen next were proven right. In fact, a very large part of trading well involves being able to deal with the psychological aspects of trading, whether part time or not.

If you read other posts in my blog, such as this one on trading philosophy, you'll see that I recommend working with very small trades. If you take larger trades, relative to your available capital, you'll find the emotional stress greatly magnified. It is very difficult to make good decisions as you watch your capital evaporate before your eyes.

Nothing will drive you from the market quicker than watching your capital shrink, panicking and saving what little you can, and then watching the market reverse leaving you without a stake. Or, perhaps worse, you do get back in after seeing a healthy rise, only to watch the market reverse yet again and wreak havoc on your capital once again.

It happens. I'm sure it happens a lot.

Did I mention that I'm not trying to talk you out of becoming a currency trader? It certainly isn't impossible to trade successfully but you really have to understand that there are many different ways to be unsuccessful. One very easy way to fail is to enter the market during a period in which it is easy to understand market behavior, think that trading is quite easy, and then have the market turn upside down and brutally fleece you.

Let's see. Yes, another painful lesson is developing the discipline to set stops and then have them tripped trivially, while the market does in fact go in the direction that you expected. Of course, this sets you up for the opposite, hanging on to a trade endlessly expecting to go as you expected, while it sucks up more and more capital.

My advice, do become a currency trader. Take your time. Learn with a practice account. Eventually, switch to a micro or nano account and trade with very small amounts of money. Continue to play with very small capitalizations until you have blown up your account once or twice -- this happens when you get a margin call and all your funds (except active margin) are forfeited.

Take the long view. There is always going to be another opportunity. No currency pair moves only up or only down. When trading part time you must either make accurate predictions or tread softly enough that the market can't move far enough to cause a margin call.

Anyway, to get into some information you can act on, if you are totally new to the game you'll want to know the following:

• Most, if not all, companies that offer online foreign exchange trading provide free forex demo accounts. These practice accounts are the same as live accounts except of course that you don't trade real money.


• A currency trading platform is simply a fancy name for what is usually branded currency trading software. This software will let you view charts for various currency pairs, add indicators and execute trades


• Forex trading is global. You can trade starting on Monday moring in Asia until Friday night in New York. Trading is 24 hours a day during this period though each trading session will offer differing market volume and behavior.


• If you are looking for a place to open your first forex demo account I'd suggest Oanda. To ensure that you don't think I'm compensated to say that I'll ask you to search Google to find them. They are a reputable company that allows you to trade with very small amounts -- which is great for starting out.

Good luck my friend, I wish you every success.

A Winning Forex Trading Philosophy

I'm starting to believe that being successful trading Forex has more to do with your philosophy than anything else.

You cannot trade based on how much money you want to make. You cannot trade based on how much money you need to make. This means that you can't push money into the market, desperately searching for opportunity, risking a large portion of your net asset value in the process.

You must trade lightly.

When you trade lightly, you simply let the market give you the returns that it is willing to relinquish to you. Quite simply, it is not a process of taking.

If you can change your mindset it will give you a lot of peace compared to the level of stress that many generate. Dip your toes into the market, following your strategy, with a level of investment that simply cannot begin to raise your blood pressure.

A little bit of market wisdom, developed with experience, combined with an appropriate philosophy will generate profits. I know that this is difficult to consider or even believe in today's rational calculating world, but the only way to win is to not fight the market. It is way too big for you.

Stop trying to generate winning positions and simply let the market give them to you.

Getting A Forex Education - Forex Books

How many of us in the Forex market simply jumped in the market and started trading? I know that was my path. I tossed a few dollars in an account and figured losing it would be a paid lesson in how the markets work.

I can't say that this hasn't been a valuable path. I've learned some good lessons along the way:

• it's important to let go of losses early so you have enough capital to sink your teeth into an opportunity that does work.
• No indicator or strategy has all the answers -- stop looking for the holy grail of trading
• The market can easily whipsaw you to tears if you aren't careful
• If you place close stops they will often be taken out before the market goes your way

Really, the list of anecdotal learning is endless and difficult to put into words. However, I recognize that this isn't enough to make me a successful trader, though from time to time I'm starting to taste success. It's finally time for me to bite the bullet and learn more about trading.

No, don't worry, I'm not going to buy some silly multi-thousand dollar Forex training course. That would be stupid. Forex trading is very related to trading in general and there is no shortage of information on either subject. To make a long story short I've purchased four books recently:

• Currency Trading for Dummies
• Swing Trading for Dummies
• The 10 Essentials of Forex Trading
• Technical Analysis for Dummies

All of these were available at a nearby bookstore -- so I didn't have to order something online and wait for delivery.

More importantly, let me list the credentials of the authors of the above books. Respectively, they are:

• Mark Gallant: Chairman and founder, GAIN Capital Group. Brian Dolan: Chief currency strategist, FOREX.com
• Omar Bassal, Head of Asset Management, NBK Capital
• Jared Marinez, FXCHIEF and founder of The Market Traders Institute, Inc.
• Barbara Rockefeller, International economist and trader

My advice? Never, ever, fail to look for the ideas of experts. Even if you don't agree with everything they say, which is appropriate, they should be able to increase your understanding and improve your own thinking.

I've had some days with a NAV appreciation of 10%, 20% or more. I'd like to have a lot more days like that... and I don't think that online sources created for the purpose of flogging affiliate commissions will do that for me.

Forex For The Small Speculator

Today was a banner day for me... trading the AUD/JPY with a return of more than 10% NAV. The market simply walked up and down my trend lines bringing me profits with every pass. How come this doesn't happen more often?

Anyway, as a small time speculator I thought I'd outline some issues that we face compared to some of the larger traders:

• We trade in very small lot sizes
• To make any meaningful revenue we may trade with a large percentage of our NAV.
• Carry trading strategies may be meaningless

Each of these issues is something that we need to think about and potentially make some adjustments to compensate.

Small Lot Sizes
If you want to trade in small lot sizes you need to find a broker that doesn't charge you an arm and a leg for the privilege. I trade at Oanda and they let you trade with any lot size without any adjustment in spreads. I recommend them and I'd give a referral link if they had an affiliate program.

Trading Large NAV Percentags
There is nothing wrong with trading a large percentage of your NAV as long as you know what you are doing. It's a problem if you are trading this way because you keep acquiring positions as the market moves against you. It's okay if you take a measured defined risk because the market has entered a condition that you have decided represents an opportunity. It is very important to get out of losing positions once you know that your market position is unfounded.

Carry Trading Becomes Useless
If you only have hundreds of dollars in your Forex account, then there is no point trying to take advantage of carry trades. If the market didn't fluctuate so much it might be worthwhile, but in all likelihood you'll make a few bucks here and there and end up wasting your time. So what if you make 200% over a year, you still only have several hundred dollars in your account.

Concluding Thoughts
When you are trading relatively large positions relative to your account size, it can be exciting. You'll quickly win or lose tens of percentage points. If you are good you'll be able to build up a bit of a nest egg before too long and then start trading more appropriately for the size of the account you've built up. Quite simply, as your account gets larger the need for large risks dissipates.

Get out there, take your time, make sure the market sets itself up for you just right, and then stomp around and rip a few dollars out!

Forex Scalping Information

Okay, I've been trying to find information on forex scalping and the pickings are mightly slim indeed. In fact, the so-called information on the net is so bad I'm going to write up a small post of my own... because I'm sure if you found this page you are desperately looking for some real information.

What Is Scalping?
Quite simply, very short term trading.

Why Don't Brokers Like Scalping?
Well, some brokers don't like scalping because of how they are set up. If they are not able to execute your trades quickly or efficiently enough then they risk being the source of your profits.

Does Scalping Work?
I've seen some people claiming that it works great as well as others claiming that it is impossible to do profitably. The reality is that if you can predict the direction that an equity pair will move, either up or down, then you can hop into the market and grab a few pips when it happens.

How Easy Is It To Predict Equity Pair Price Changes?
Well, that's the million dollar question! I don't have any books to sell or anything, but a lot of people claim to have solutions for you. Personally, I think if they really had solutions that worked they wouldn't waste time telling you about it, they'd be busy trading. However, in an effort to be informative, when you spend enough time watching a market (which is quite boring) you'll get a feel for it's current state and how it is moving. Often, until conditions change, you can be fairly accurate with your predictions.

Can Anyone Do This?
If you find a market maker that doesn't mind scalping, you can try. However, you must know how to place stop and limit orders with their trading platform. In particular, it would be very nice if you were able to have someting known as a trailing stop. As well you will want to understand the concept of leverage as it applies to a forex account. Basically, I'd suggest throwing $100 at a starter account and playing around, carefully, until you've made enough bad decisions to learn how things work. After that, you should have the tools needed to try out various strategies.

How Much Effort Is It?
Scalping is very time consuming. You have to spend a lot of time watching the markets, to the point that it would be difficult to do well if you had an existing full time job. Also, scalping is very demanding from a psychological point of view, as you will have large amounts of your capital ready to put into play, but you may have to wait hours before you spot a good entry point. Then, upon entry, you might find you are back out with a small loss in no time. Alternately, you might get a small profit, take it, and then watch the market skyrocket after your exit. The shorter your trading is the more attention it will take and the more nerve wracking it will be.

Are You Scalping?
I'm thinking about it. I've been opening up a grid strategy to catch swing trades, but I have noticed that using half of the scalping mentality to accumulate positions in trends may be able to have a significant positive impact on my results. I guess I'll end up letting you know how things work out.

Friday Forex Recap

This has by far been my best trading week...

I might have made more in the past but it was admittedly just hit and miss combined with patience. This last week I've been following technical indicators and doing more than just hope for the best at Bollinger boundaries.

Sunday PM through Monday PM -- NAV +3.05%
Tuesday AM through Tuesday PM -- NAV +2.93%
Wednesday AM through Wednesday PM -- NAV +8.2%
Thursday AM through Thursday PM -- NAV +3.9%
Friday AM through Friday PM -- NAV +1.1%

During the business day I've been able to take positions for hours at a time and generally end up ahead. In the evenings the market seems to slow down, but I am now generally able to scalp out dollars using the 1m and 5m in concert.

Additionally, when I am behind in a day trade or a scalping position I am often able to spot a good reversal point and take advantage of that with a second position. Doing this a few times can earn back the losses on the original trade -- assuming it still appears to be a good idea to hold onto it.

Some things I've realized this week:

• I now understand what people mean when they talk about not trading on Sunday or Friday. Now that I can begin to get a feel for the market I noticed that movement and opportunity were lacklustre during these periods.
  
  
• I can scalp! This is awesome. It's powerful to be able to scratch pips out of the markets whether they are rising or falling. It's nice to know I can do this if I have a position I want to hold but that is making me nervous as it accumulates a loss before the expected move.
  
  
• I don't know if these results will now be typical for me or not, but I do finally understand that it isn't impossible to work the markets and earn money.
  
  
• As well, I understand that I don't want to be trading around news events. If I'm carefully looking for technical setups, the last thing I want is some huge sudden movement due to news. Not only will this potentially catch me on the wrong side of a trade, but it may throw off my ability to analyze things for a while

I should note that my net asset value increases are not compounded. I do skim off most of the gains and push them into a much less risky sub-account. I have no idea whether or not I can trade with the same style when the numbers get bigger. The psychology of seeing larger losses mounting, or higher gains accrue, may throw off my style and keep me from making any money.

AUTOMATIC TRADING

This is one thing that I hate most. A lot of people asking for my trading system. I know what they are going to do with it. They will take the hard work of many years, code it into an expert advisor and let it run on automatic trade.

For those of you who already has a succesfull system, you may share similliar view. Unfortunately for those who are still looking for a profitable way to trade, this is one of their easiest option. I dont blame them, creating a profitable system is not an easy task. It takes years to develop and test a system with no guarantee of success.

For those of you still looking for a way to be profitable in forex, there are system available on the internet. One of them is Zulutrade. Zulutrade is a place where signal providers (like me) test out their trade system with thousands of traders. It like a competition for traders. Good news is people can open an account and pick which signal providers they want to auto trade their account. Best thing is, its free. Yes, its free. You dont have to pay 30% of your profit to your account manager.

I personally never have used their system but am trying to register as a signal provider. Those of you can try it out if you want. All you have to do is open an account with them. Fund the account and pick which signal providers you want. Dont take my word for it. You have to go to Zulutrade and investigate yourself. Remember its your money.

STOP LOSS HUNTING. THE MARKET IS CRUEL

Sometimes it happen but this is one rare ocassion and I am really stunned. I was holding a long position on GJ. I am in profit of about 100 pip with a stop loss of 50 pip from my entry point. Guess what. The market turned down 150 pip in one move, hit my stop loss and now its flying.

This has nothing to do with the broker, it is just the market is cruel. No matter who, you will get hit sooner or later. In order to hit me, the market has to move 150 pip againts the trend. What an honour I must say. 150 pip is much more than most people TP.

Enough said, all pairs should have a steady climb from now on. If you are holding long at the moment, make it long term.

FREE FOREX SIGNAL - NOT REALLY

When people say free forex signal, it refer to an instruction to trade specific currency pair at a certain price. Normally this signal is based on the trader study and experience. It is more of a personal view of things to come.

In certain cases the signal does work. In a different situation, it fails. This is because the person giving that signal is also a small trader. His study is based on either technical or fundamental with no real money to back it up.

If that person is good, he will have enough followers and the total money traded towards his signal will back him up and make the currency move. If that person have very few followers, then he is swimming alone in a sea full of sharks.

That is what most of us do. We do not coordinate and we work alone in forex. Thats why the sharks are taking their time and making easy picking of us, swallowing one at a time. It doesnt sounds good but its the truth. Now you dont have to wonder why most people fails and why banks keep on making huge profit.

If you want to take forex signal, take it from someone who you can trust from inside the banks. They have a lot more info and study on forex. The amount of info, knowlegde, manpower and money is impossible for any of us to compete.

For some people who manage to find a method to be profitable in forex, its a good thing. You have found a way to take advantage of the system. The system after all is developed by human and human by itself is full of weaknesses.

For those of you who is losing, its time to think about swimming alone is a sea of sharks. Time to find friends and help each other out in terms of knowledge and money power.

Dont get me wrong, I am in profit today. I have found a way to take advantage of the system though its like a mouse, stealing food one little bit at a time. Better to profit a little than losing all the time but for how long are you willing to be the small fish. Always jumping in and out of trade. Hoping for the trend to hold long enough for you to gain a little profit.

In order for me to grow in forex, I need to team up. It has long been in my mind, just looking for the right opportunity and people. Anyone here think the same?

ITS NOT THE SYSTEM

After more than 2 years of trading, I can tell you a story about forex system. Forex system is a way to trade to have higher chances of profit. Unfortunately not all forex system works. This is because its not the system that is not working. It is you.

What if I tell you that I have a system that consist of Moving Average only. The system can make profit and will minimize you loses or even give you a chance to break even during hard times.

You would be thirll to test it out only to find out that in the end you are losing money and you say the system is crap. The truth is if one person is making money using the exact same system yet you are losing money. So where do you think the fault is? Is it with the system or is it with yourself?

You can never gain profit in Forex until you figure out what is wrong with you. Most of the time when you are losing money you would blame it on the market, news, system etc but never on yourself. Until you figure out what you did wrong, any system no matter how good will fail in your hands. After you realize what you did wrong, then you can make money, seriously.

When you know what not to do, you can trade without any indicator. I myself is trading using only MA now. Took me a while to understand but once you see it, you no longer depending on any indicator. It is your judgement that counts.

I never know what I would learn the further I go in this world or Forex. Right now I am starting to understand why some traders trade without any indicator. The best indicator is in your brain. You just need to develope it. It will take some time. No hurry.

TRADING ONLY WITH MOVING AVERAGE

At the moment I am rather busy. Moving to a new place and house. The house still needs a lot of work. As a result, I do not have time to update this blog. Trading is still going on but on a shorter timeframe. Result is consistent now. AudUsd is very kind at the moment with no sudden movement.

In the next few weeks I will show you how to trade using only MA. As usual what works for me may not work for you. This is because some of you may not be able to follow the rules of the game.

RULES OF THE GAME
1. Trade based on your capital and the time that you have. The bigger your capital the longer the TF. The more time you have the longer the TF. Vice versa.

2. Only trade at the direction pointed by the MA pairs. If the MA pairs is showing mixed direction, do not trade. The MA pairs must be pointing at the same direction.

3. If a trade suddenly change direction, do not hesitate to close it at a loss and turn the trade. This is the hardest part where most of you failed. Free your mind or become a loser all your life.

4. Keep in mind, there is no such thing as winning all the time. Just make sure you win a lot more than you lose. In the end your profit will grow along with your confident.

Simple system with simple rules. I like to keep it simple. No point of having the most complex system when simple system can have the same result. With this system you will be out of the market most of the time. This is because you will only be taking the big move and avoiding the small move and market noise.

Last advise. Do not anticipate. Forex is not a game of inteligence eventhough this system at full swing will show you possible turning point. I am having a possible turning point for audusd at 0.7200 but I will not take it coz there will be market swing before the actual turn. Why wast time waiting for the big move when you can actually see when its going to move.

In the mean time, good luck for all of you. I will be back once my pc is online again. At the moment I am posting this on a laptop. I dont like laptop, too small keypad, makes it hard to do speed typing.

WHAT FOREX IS NOT

WHAT FOREX IS NOT

Forex is not a quick rich scheme.
Forex is not easy even though my blog says so.
Forex is not a place for newbie
Forex is not something you can learn overnight
If you needed the money, dont put it in Forex. Seriously. Go somewhere else.
Forex is a journey, enjoy it.
There is no such thing as holy grail coz there is no perfection in this world. If perfection exist in this world it would be boring. No more room for improvement.
Forex is not rocket science. There is no right or wrong. There is only probability.

LWMA 55

One of my favorite indi is LWMA 55. I dont know why but the price seems to react a lot of this line. People say that MA is a lagging indicator and I agree with them 100% but do not use MA as a signal generator, instead use them as a dynamic support and resistance.

For those of you who love to experiment, try putting LWMA 55 on a chart and see how price actually interact with the line. Its not magic but its a mathematical calculation.

Dont get me wrong, you may not be able to trade using MA 55 alone. Try putting LWMA 13 in there as well and remember they are not signal generators. Treat them as dynamic support and resistance.

Put it into a simple formula. If price > LWMA 13 & LWMA 55 = long. If price < 55 =" short.">

Try it, you may like what you find. Just needed to add in a filter to improve accuracy.

NEW STRATEGY AND THE RESULT IS ...

On my last post, I was telling you about a new system. I decided to do forward testing. As usual all testing was done on a demo account. No live account was hurt during the testing period.

The result as you see is superb. There are actually 2 part of testing. The early trades are done on a shorter time frame, 5 minute to be exact. The later part of testing is done on a longer time frame, 1 hour.

I must say the system looks promising on the longer time frame. On the shorter time, I just dont have the time to monitor the trades.

As of now the system is running on my live account. At the moment on 4th June my account is up 40%. Hopefully everything goes well and I will have good profit by end of the month. Will keep you inform on the result later.

DAILY TRADING - THERE IS NO SPOON Some

Some people are asking me about the secret of daily trading. The answer is there is no secret. It is there for everyone to see but the question is, can you accept what you see.

Trading the daily chart requires patience, lots of it. That is what most of us lack. Patience. If you look at the longer timeframe charts, you will see that price will stop or hover around certain areas. That is your key point. Always start or stop trading around these key point.

The next indicator I use is CCI. CCI alone is a bit of a headache. So I smooth it out with MA. With the MA, I can see the direction of trade clearly. People say MA is a lagging indicator but I dont want to be early going to a party. I like to enter when the party already started.

The last advice is, there is no such thing as holly grail. You just cannot win all the time. The best that we can do is try to win as much as possible and lose a little as possible. In the long run, it would be profitable enough to stay trading. Otherwise you need to find another business to run.

ITS NOT PIPS BUT PROFIT IN FOREX

You can actually tell if someone is new in Forex by the way they count their pips or profit. When people starts forex they count pips. They can have hundreds of pips a day and yet their profit is low. This is due to the low risk reward ratio they have taken.

Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade. These trades do not give you high pips but the profit margin is high.

That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday.

For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.

Hunt pips but count profit. Good Luck

LOST IN FOREX

Have you ever been lost in Forex? Some of you might be thinking, how do i get lost in forex?? Let me ask another question. Have you ever open a trade in one direction, after some time open a trade in the opposite direction?

Im sure that happens to all of us, myself included :). That is lost in Forex, where we are unsure of direction of trade. Some people even hedge in the situation.

I have a few tips when you are lost in Forex.

1. If you are lost and dont know which direction to trade, the most important thing is to stop trading and do something else. Go plant a tree or play games. Dont even look at the charts anymore to avoid confusion.

2. Is to take a trading system and put it on multiple time frame. I trade using the same system on 3 timeframe. 15m, 1h, daily. When all three is pointing at the same direction then I trade. If 2 timeframe is pointing at the same direction then i scalp.

3. After sometime, your brain will start to imprint patterns of Forex. Forex has the same pattern over and over again. In our mind, that pattern has been imprinted and it influence our decision making subconsciously. Once you reach that state you will rarely get lost in Forex. You will know the exact time to trade or to get lost (do something else).

I will try to update this blog. Been so long and so busy with new place. As for Forex, USD pairs are going nowhere at the moment with a high probability to go down further. Good luck on your hunt for pips

A TRADER'S TOOLS

A mechanic has many tools. Each tools with its own usage and purpose. It is only down to intelligence and creativity that separates a good mechanic and a bad one.

Like a mechanic, a trader has many tools as well. Each indicator is a tool for the trader and a combination set of tools with rules is a trading system. A good trader has not 1 but many system. Each system has different purpose. It is down to knowledge and creativity that separates a good trader and a bad one apart from portfolio.

The best time frame to trade is the lower time frame but due to noise and spikes it is difficult to trade using lower timeframe. It is the reason why most trades fail in short time frame.

EurUsd has been ranging for the past few days and due to it, has hit my stop loss twice. Being a trend trader myself, I just cannot trade during these ranging period. So I stopped trading and try to make a new trading system using lower time frame to catch these ranging market.

It seems with a new set of tools (not new actually, had not used them for a while), I have manage to create an almost perfect trading system for all time frame but with the target of 15m chart. The only thing that this new system doesnt show is when not to trade which i made up with a new set of rules.

If any of you would like to try the new trading system please leave your email. I will try to get back to you ASAP.

THE ENDING IS NEAR

1,447 days ago I started to step in the world of Forex. 6th May 2006 is the day I registered my 1st demo account and its a Saturday. Through out my journey in Forex, there are no actual manual, text or books that I can really refer to. Its like an unexplored land with no maps what so ever. There are only guides available online with no one giving specific answer.

Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle.

Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX".

I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management.

What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier.

For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.

You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway.

Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been there.

A BASIC SYSTEM Any

Any system need to have a very good basic to stand on. Once the basic is sort out, then all the accessories can be add on. Just remember not to add too much to it. Today I am going to give a basic system. It consist of only 2 indicators. Being simple, it is able to generate good signal. Just remember to put SL properly.


Indicators:
1. LWMA 55
2. MACD standard setting

Time frame: 30m

Stop Loss : 35 pips

Take Profit : 35 pips or more.

Currencies : EurUsd, GbpUsd, EurJpy, GbpJpy

Trading System:
LWMA act as a thin trend line. If the price is above it, its uptrend. If the price is below it, its downtrend. So you buy or sell according to trend. Never reverse trade. MACD also shows the trend. If MACD is above 0, its uptrend and the other way around.

I have put 3 vertical lines in the chart where MACD cross 0. Once MACD cross 0, you should only trade according to trend. You entry should be on the LWMA 55 or close. At the moment MACD has cross 0 and is heading down. From now on only consider short position. Try to enter as close as possible to LWMA 55.

Caution has to be taken, even though MACD has cross the trend is not yet full down actually. There is another indicator that I use to show trend and its not full down yet. Unfortunately that indicator is no where in the chart because it is not on GbpUsd chart. It is somewhere else.

Now you wonder why its not there. The truth is most people fail because what they are looking for is not there. That is what I meant with looking at the wrong direction. The trend indicator for GbpUsd is not on GbpUsd chart. Weird isnt it?

You can take this basic system and try to add on what ever system you have. Hopefully it is useful. Good Luck

OVERCOMPLICATED TRADING

Human tends to over-complicate things. It is in our nature to try and improve what we have but most of the time we overcomplicated things and forget about the simple solution.

In my previous post, I posted a chart of a basic system. It consist of candle stick chart, moving average and macd. Only 3 indicators and it is a very simple system rite?

The answer is, it is not so simple actually. Candle stick alone tell you 4 things that is, open, close, high and low price. MA tells you direction of trend, entry point, start and end of trend. Macd tell you trend, entry point, reversal point.

From only 3 indicators there are actually 11 information cramp into that small chart. Too much info and decision making is a hard job. Though i filter comments, no one has actually ask about the amount of information on chart. It seems people can accept 11 information at once. Can you manage 11 input at once and make a decision out of it??

Trading is actually much simpler. It is actually possible to make profit with only 1 information. Believe it or not??

FOREX IS AN ART

When you say trading, people will say trading is an art. Look at all the books that has been published on the subject. They will say the art of trading forex.

In that sense, we must take forex as an art and not a science. I know, some people may not agree with me and all the post that is in this blog. I don't blame them coz I was actually in the same place as they were when I started trading. Trying to find the answer to forex using every logical explanation.

This is the answer that you have been looking for. I am going to give it to you straight away. Let see if your mind can accept it.

Forex is not a science. There is not a single mathematical equation that can explain it. Do not forecast, do not predict, do not anticipate. All you need to do to make profit is to follow the market. If the price is going up, you buy. If the price is going down, u sell. You may not win all the time but if you follow the market, in the end you will be in profit. Make profit and build up your capital up to a point where a few winning trades per month will bring huge profit.

Can you accept it? Can you mind admit it? Is your logical mind challenged? Do you feel helpless? Welcome to the real world :)

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Internet Marketing is actually very real. And it is still in its infancy! The scam is not in its theory, but its application. There are hundreds, if not thousands, of people trying to sell you "that next best thing", but in reality it is still all the same. The people who do make money online keep making money for one main reason: they understand the concepts and they know how to apply the details. Most online money making programs are more than happy to share with you the concepts but few actually show you the details

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Search Engine Optimization (SEO) is the process by which we help websites to get indexed and ranked well for the best keywords that represent their content in "natural search results."

The natural search results are those that show up in the main body of the page when a user performs a search on Google. This set is completely separate from "sponsored results" or "pay-per-click" search results, and the best way to improve your site's natural rankings is through SEO.



From a marketing standpoint, the goal of SEO is to position the website to show up as high as possible in the natural results for keyword phrases that convert well into sales, leads, or the type of traffic desired.

We are a results oriented search engine optimization firm who focuses on ROI and "white hat" ethical SEO standards.

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Increase traffic to your website Natural search can be an incredible source of well-targeted traffic to your site, and once you show up at the top for your keywords, you have a source of traffic that's not limited by cost-per-click or daily budgets like sponsored search.

SEO is a great investment for the following reasons:

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Your Private ATM Machine

Many people dream about it, now you can live it

How many sites have you seen where they are just selling you an idea but that's it. Not here. I know you need to have help, so I am going to help you.

That's right, I am not going to just try and offer you something and walk away, I'll help you through the process until you have income going into YOUR account.

It's Good AND it's TRUE!

To answer your question; yes, it's possible. Not only is it possible, its relatively simple. It's not too good to be true. I do it everyday and if I can do it, so can you.

To answer the other question: No, you don't have to be a genius to do it! What I am going to share with you is a proven, consistent, secure system that produces income everyday. You don't have to worry about it slowing down or being dependent upon the economy.

This system works for you to generate consistent income for you everyday, no matter what day it is.

If you can follow the instructions I give you, you could have the same results I have. It doesn't matter who does it. It doesn't matter how many people read this.

I use one very important test:

I was a single parent with only a high school diploma. If I can do "follow my instructions" and

make the income I am describing, then I believe no one else has an excuse.

You know all those times you wished you could do more for your friends and family? My parents worked their entire lives away. I cannot tell you how it broke my heart to see them struggle.

Now I can give them whatever they want. I can help them financially and provide for them without it even affecting my own family.

Do you have any idea how satisfying and fulfilling that is?

Do you know how great it is to be able to see a need and write a check without worrying about it bouncing?

Be financially happy in your new life!

Why am I sharing this with you?

You know, there's a lot of junk being sold on the Internet that I am ashamed to admit that I bought. I spent money I couldn't spare on ideas that turned out to be garbage. I can tell you that I was frustrated and even angry many times.

So, after consistently securing income week after week, I decided to make this available to the public.

I just ache inside when I think about all the families that are suffering just because of what they don't know!

I make my money using this system!

My income comes from following the same instructions that you will follow. I will show you exactly what I do to generate $1,000 to $3,500 every single day. I GAURANTEE THAT! You will be amazed at how simple this really is.

Got you thinking don't I. Somebody must be praying for you because this

is an answer you've been looking for.

Get Started today!

What I will show you is so much fun, you'll be amazed. It's so simple that just about anyone could do it. All you have to do is follow simple instructions and put them to work.

You will have step by step help all the way until you are generating income! You can't find that anywhere, I have looked. I have read hundreds of sites offering books and plans, but then they leave you there.

You don't need to do this alone!

NO more trying to "go it alone" unless you choose to. You're not going to get left to the side. You will have help be successful.

Myself and my support team are willing to help you through with guidance and direction. You are going learn how I earn the income I'm talking about. You can do it. I am telling you right now in front of God and everybody, you are going to have the information you need to succeed.

You're going to love going to your ATM machine!

You will learn how to:

Set up your income accounts

Put everything you need together quickly.

Access your money online or through any ATM machine or your Bank Account!

You will have Step-by-Step video instructions. I will show you how to plug in your Six Figure Yearly System™ and begin receiving income in days!

You can choose to stay home, get on your computer, and earn an incredible income each day, every day. Even if you take the day off! That's the exciting part!

These accounts are available for anyone and they are within anyone's reach. Everyone qualifies for these accounts so don't worry about that. They are legal, safe, and they work!

These will be INCOME accounts for you personally. This is how you will generate your income. I will show you EXACTLY how to do this.

After that, you are going to learn how to do several simple transactions, again, all online. These transactions that you do are the key to the system. You follow the same procedure all the time..

Once you do that you monitor your system everyday (here's your two hours) to ensure everything is running smoothly. Then you can relax and watch your income come in. You will access your money in any ATM when you follow the instructions you receive.

I will help you through this!

Let's get really clear:

Now, I'm going to make this really simple and clear so there is no confusion in your mind. You should have no problem setting up online accounts. Each account is worth money to you everyday (and no, it's not surveys or some other nonsense).

Once your accounts are set up, you will be able to earn $$$$$ in less than 2 hours a day. I will show you how we do that and then I will help you through the process so that YOU SUCCEED!

You can have cash income EVERYDAY! I'm talking about DAILY INCOME that is automatic. I get so excited sharing this information! I really mean that. I get excited because I know for a fact that I can prove this to you and you will thank me and say nice things about me!

Ok, back to the program.

You will learn how to:

Set up your online income accounts

Set up your online transactions.

Access your money online or through any ATM machine!

Hello to all of you,

Over the course of many challenges and stupid decisions, I found myself unemployed with a family to care for.

Without boring you with all the details, let's just say that I needed to provide for my child.

I needed more than just income, I needed financial

security!

This was an extremely difficult place for me. I could either fall apart, or find a way to overcome the challenge. I found a way.

When you order, you will receive:

Here we go. What you are going to do is set up online accounts.

How many sites have you seen where they are just selling you an idea but that's it. Not here. I know you need to have help, so I am going to help you.

I WILL SHOW YOU EXACTLY HOW TO DO THIS.

That's right, I am not going to just try and offer you something and walk away, I'll help you through the process until you have income going into YOUR account.

It's Good AND it's TRUE!

To answer your question; yes, it's possible. Not only is it possible, its relatively simple. It's not too good to be true. I do it everyday and if I can do it, so can you.

To answer the other question: No, you don't have to be a genius to do it! What I am going to share with you is a proven, consistent, secure system that produces income everyday. You don't have to worry about it slowing down or being dependent upon the economy.

This system works for you to generate consistent income for you everyday, no matter what day it is.

If you can follow the instructions I give you, you could have the same results I have. It doesn't matter who does it. It doesn't matter how many people read this.

I use one very important test:

I was a single parent with only a high school diploma. If I can do "follow my instructions" and

make the income I am describing, then I believe no one else has an excuse.

You know all those times you wished you could do more for your friends and family? My parents worked their entire lives away. I cannot tell you how it broke my heart to see them struggle.

Now I can give them whatever they want. I can help them financially and provide for them without it even affecting my own family.

Do you have any idea how satisfying and fulfilling that is?

Do you know how great it is to be able to see a need and write a check without worrying about it bouncing?

Be financially happy in your new life!

Why am I sharing this with you?

You know, there's a lot of junk being sold on the Internet that I am ashamed to admit that I bought. I spent money I couldn't spare on ideas that turned out to be garbage. I can tell you that I was frustrated and even angry many times.

So, after consistently securing income week after week, I decided to make this available to the public.

I just ache inside when I think about all the families that are suffering just because of what they don't know!

I make my money using this system!

My income comes from following the same instructions that you will follow. I will show you exactly what I do to generate $1,000 to $3,500 every single day. I GAURANTEE THAT! You will be amazed at how simple this really is.

Got you thinking don't I. Somebody must be praying for you because this

is an answer you've been looking for.

Get Started today!

What I will show you is so much fun, you'll be amazed. It's so simple that just about anyone could do it. All you have to do is follow simple instructions and put them to work.

You will have step by step help all the way until you are generating income! You can't find that anywhere, I have looked. I have read hundreds of sites offering books and plans, but then they leave you there.

You don't need to do this alone!

NO more trying to "go it alone" unless you choose to. You're not going to get left to the side. You will have help be successful.

Myself and my support team are willing to help you through with guidance and direction. You are going learn how I earn the income I'm talking about. You can do it. I am telling you right now in front of God and everybody, you are going to have the information you need to succeed.

You're going to love going to your ATM machine!

You will learn how to:

Set up your income accounts

Put everything you need together quickly.

Access your money online or through any ATM machine or your Bank Account!

You will have Step-by-Step video instructions. I will show you how to plug in your Six Figure Yearly System™ and begin receiving income in days!

You can choose to stay home, get on your computer, and earn an incredible income each day, every day. Even if you take the day off! That's the exciting part!

These accounts are available for anyone and they are within anyone's reach. Everyone qualifies for these accounts so don't worry about that. They are legal, safe, and they work!

These will be INCOME accounts for you personally. This is how you will generate your income. I will show you EXACTLY how to do this.

After that, you are going to learn how to do several simple transactions, again, all online. These transactions that you do are the key to the system. You follow the same procedure all the time..

Once you do that you monitor your system everyday (here's your two hours) to ensure everything is running smoothly. Then you can relax and watch your income come in. You will access your money in any ATM when you follow the instructions you receive.

I will help you through this!

Let's get really clear:

Now, I'm going to make this really simple and clear so there is no confusion in your mind. You should have no problem setting up online accounts. Each account is worth money to you everyday (and no, it's not surveys or some other nonsense).

Once your accounts are set up, you will be able to earn $$$$$ in less than 2 hours a day. I will show you how we do that and then I will help you through the process so that YOU SUCCEED!

You can have cash income EVERYDAY! I'm talking about DAILY INCOME that is automatic. I get so excited sharing this information! I really mean that. I get excited because I know for a fact that I can prove this to you and you will thank me and say nice things about me!

Ok, back to the program.

You will learn how to:

Set up your online income accounts

Set up your online transactions.

Access your money online or through any ATM machine!

Hello to all of you,

Over the course of many challenges and stupid decisions, I found myself unemployed with a family to care for.

Without boring you with all the details, let's just say that I needed to provide for my child.

I needed more than just income, I needed financial

security!

This was an extremely difficult place for me. I could either fall apart, or find a way to overcome the challenge. I found a way.

When you order, you will receive:

Here we go. What you are going to do is set up online accounts.

I WILL SHOW YOU EXACTLY HOW TO DO THIS

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