"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Monday, May 31, 2010

31 May, Eur/Usd - Oanda FXGame

Im exploring Oanda now - demo. Take some time to getting used to. Firstly, i took some time to figure out the Bid Price Line which is always there fore Metra Trader, was a little confused not too sure where the price was except watching the candle stick gettin longer n shorter. I also need time getting used to see 5 decimal points lol.

Its time to explore and fix a suitable profile so that i can save it and load it up everytime i open this web-based broker. Otherwise u hv to re-set them everytime u fire up Oanda to trade.

Quiet market, did a nice scalp off 10 seconds timeframe for.. how many pips did i reap? 13 i think.


Saturday, May 29, 2010

Black: May Review & Gun Down The Readers

I'm back!! Exams are over, and i hope i am as happy as now when i get the results. Since my last post on Exams saying i will be away, the next day our feedburner reader subscribers dropped less than half. I can't believe the readers wanna get away from this site so much!! Bottle, instead of gunning down the chart, i think we shOULD GUN DOWN THE READERS!!

With her...

Cut the crap. Below is my review for May. I trade so much lesser this month due to exams. Only 12 trades. I hope i can do as good when i have more time to trade too.

Week 1: +58
Week 2: +101
Week 3: +1
Week 4: Exams

Month: +160
Equity: +10.07%

Green green green & green, i'm so happy. Maybe I should have exams every month...NOT. Check out the number of pips i reaped and my equity gained, compare to my April's Review. Obviously, like what RCM said, i was pretty over-sized during my trades in April, losing trades caused a chain of revenge and high risk trades.

After not touching the chart for some time, although i still keep up with other traders' update, i felt kind of lost touch. I think to take it slow starting next week and should not simply jump in. I will continue to focus on Risk:Reward ratio like this month.

Thanks for all the wishes on my exams. Now i wish u all the best in June.


Friday, May 21, 2010


Not quite active recently, because i have been mugging for exams after work. not exactly the kind of life im enjoying. well, one year to go and this pursuing of degree cert will be over and done with. when im reading up my uni textbook, im reading books; when im reading up trading books, im reading books. but the enthusiasm between the two are at both ends. obviously u know which is at which end :)

In Singapore, its considered a fast paced society. My previous company, many of them were like me, taking part time degree and a full time job. One reason being we need to pay our sch fees and sustain our lifestyle. secondly, when everyone is doing this, if u take a full time degree by the time u come out of working society ur a step behind. In my father era, we can afford to have one parent working and the other staying at home and take care of the kids. In my time, we have trouble even when both are working. things are getting costly, while salary are constant. Partly explains why kids nowadays are smarter and more independent becuz they are being sent to the child care centre, to learn.

Of course if my dad was super rich, i dont have to be troubled with such going ons around me. Property prices are at the highest now here, and government is encouraging us to have more kids when houses are getting pricer and smaller, where we gonna put the babies? Besides, before purchasing a car here, u need to purchase a paper called the COE. that paper alone can cost up to 10K. and ur car starts depreciating the moment u buy it. see i have so much reason why i want to be a profitable trader lol, aso on behalf of Bottle.

Enough of stories, i'll not be trading or working the whole of next week :) sounds good like im going for holiday, but no i am going to study for my exams which is on next thursday - 2 papers in a day. Java programming... oh my, wish me luck - because im gonna need it.


Monday, May 17, 2010

17 May, Eur/Usd - Short Short Night

Shorted x2 size after large bull candle for a pullback, but the downside of such scalp is that when the bull havent subside. Shorted another x3 size and closed at profit. Short day.

+1 pips


Wednesday, May 12, 2010

12 May, Aud/Usd, Eur/Usd - My Best Trade So Far

Today is the day i stick to my system. Today is the day emotions did not meddle with trade. Most importantly, today is the day it hit my pre-set profit-target. The combination of these three in a single trade, gives me an incredible sense of satisfaction. Something i have longed for after all these times. Ok la come on man, seems like its just the words are magnifying the performance, lol.


Browsing through my usual pairs (skipping the yen due to superstitions and phobia). Aud/Usd looks promising, with the downtrend (top red line) 1H chart. Hoping to hit a bounce i shorted 2x size, with a 30pips stop loss set, right above the trend line. take-profit at 35pips, which serves my risk:reward focus this month with a close to a 1:1. wanted to put further, but then it looks more like a support area at the 35 tp area (the zone where the line is).


As for the Eur/Usd, i entered only after the bull candle (bull candle?) closes, i don't know how to tell you, but based on the momentum, that the bull just doesnt seem that promising. I short the euro with 20pips stop-loss, 40 pips take-profit, with a 1:2 risk. 1x size.

I was quite occupied thru the night, as part of my plan not to meddle with it, i only glance my positions once in a while. I only sneak peak of how the two trades goes:

first it went +8, +13

then 0, 0

then -23, -15 (here is usually the part i panic, either adding averaging losses or close, but i try to take it, because after all this setup is base on good risk-reward ratio, i take this smaller lose, but the nextime i win it will be good)

then it went 1, 4

then 15, 24 (this is another part, where similarly, emotions come into play. how how how? close and take the deal? or wait further? wait my unrealise profit gone how?? nevertheless, i left it alone.)

then it went back to -2, 0. OH GAWD! well, there's nothing i can do about it.

at this period of time u should be wondering if i was really only taking sneak peak once in a while, or more frequent than the 5M candlestick closes.

The next moment, after i finish watching a latest news here in Singapore, sadly to say, about a teenage youth hitting his own classmate in the lift, very violently. This is sad and crazy.

Before i re-collected my thoughts on teenage violence, my Euro trade has closed with t-p. Shortly, my Aussie trade joined in the happy ending. I wish every trade is like that. we cant control where the price go after we enter a position, but we have to control ourselves. I may have profited, but the greater satisfaction came from sticking to my plan. Even if i had lost, if i had stick to my plan, i guess i wouldnt feel that bad, afterall. That is if my revenge monster doesnt come into play.

+74 pips.


Tuesday, May 11, 2010

11 May, Eur/Usd - Open & Pending Orders

Short scalp off the trend for my first trade. I think it is an overall downtrend. Shorted @ 1.2730

Open position: 1.2730 (short)
Pending order: 1.2760 (buy stop)
Pending order: 1.2690 (sell stop)

All at minimal sizes with adequate risk:reward ratio.

+6 pips (at the moment)


Monday, May 10, 2010

10 May, Eur/Usd - Short Pullback

This trade lasted two minutes. Large movement prior and during hour stick closes. Longed at tip with stop/loss set. Mental take-profit at ten pips (x3 size). I closed the shot RIGHT AWAY when pips shows +10, because i have experiences of trading pullback, they dont give u the luxury of time to make you believe they will give further few pips to u. They show you their face for once and you never gt to see them anymore, so what you should do is to punch their face the moment it appears. Luckily greed didnt conquer mi for that one or two pips because price spike down right after i closed.

+10 pips.


Friday, May 7, 2010

Rainy May Friday. Mr Chart's Finger Itchy Day.

Yes, exactly now... its raining and the sky is dark. End of days is coming for me and knocking on my door. My equity is falling short. My account is going to get annihilated should i make a few more mistakes during trading. So the brave young and naive Me decided to muster all my courage and all the determination i have, to stop the devil of not following my own trading system to take control and to be discipline for this period of time.

Good news. Bad news.

Good news. I did it. I'm disciplined enough to follow through and wait for all the confirmation and signals before entering trade. Rejoice. But!!!! Check out the above chart.

Blue circle is my entry. That blue line down indicates the crossover of MACD at undersold level.(One of my signal) Second signal is Green 50SMA above Red 100SMA signalling a bullish trend. Both shows a Long opportunity. So there i go, the Red circle is my Stop/Loss and Green circle is my Take Profit.

Bad news is, once again the chart decided to show no mercy to a poor man. He decided to poke and have fun with me, he went on to touch my SL before going up to my desired position. SL was at a strategic position i thought? Below 100SMA with allowance of 10-20 pips.

Ah... im lost for words. The Reds in my account numbed me.

Guess its part and parcel of life yea?

Monday, May 3, 2010

3 May, Eur/Usd, Usd/Jpy - Set Sail

Good day people. Taken the smallest size possible. 1H chart. Im taking a longer ride this time, and bearing in mind risk: reward. Just simple opinion for taking my position. For Eur/usd, resistance at 1.3230 level, risk:reward, 1:2. But then again, euro has taken a beating since the start of the market, is it going down further? Usd/jpy, Strong resistance off 94.55 area, double top? No? nevermind, both stop/losses level do not take up 1% of equity.




Short another two position in the cable and it came off very well. as usual, the volatile pound went about -15 before plunging deeply down. small position has the flexibility to withstand such more losing positions. it plunges really deep down.


+58 pips in total. screw the yen for contributing the loss again.
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