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Forex Junction

Demo Trade on UJ by novice

Mon2010:  buy : in 102.00 out 102.21 = 20 x 4 = 80pips

(1.15pm - 2.15pm)


caveat emptor

 

 

time to open a REAL forex acct n make REAL money my fren..

 

for educational and entertainment purposes -- don't follow me while crossing the highway ... use ur own swot analysis .. hahaha !

caveat emptor -- paper trade done by novice -- past performance not equal to future performance

 

Demo Trade Update for this week

monday	131008	20+20	40
tuesday	141008	2 x 17	34
tuesday	141008	4 x -24	-98
wednesday	151008	3 x 20	60
wednesday	151008	1 x 0	0
thursday	161008	4 x 10	40
friday	171008	2 x 30	60
week's nett			+ 136

  

 

Demo Trade on UJ by novice


hurray ! won the game !


fri1710 : sell : in 101.01 out 100.71=30x 2 = 60 pips


 

 

Demo Trade on UJ by novice

got in at 4.00pm

Sell 2lots : SL: 131.00  EP : 101.01 TP : 100.70 for 30x2=60 pips

reason: double top , broke fibo 36.2


caveat emptor -- certainly not an inducement -- demo-trade by novice --for entertainment and educational purposes

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going out now ... will be back by 8pm ... those who are bored ..may keep urselves amused/entertained by keeping an eye on the charts ... www.livecharts.co.uk or www.dailyfx.com or by other means u know ... :  )

 

Thus, though temporary 'manipulation' for the short term can be achieved to 'prop up' a currency,
the risk of losses later is great, since a counter-move by another party with equal or greater clout can easily reverse the direction soon enough...

 

something I've been thinking about today :

is forex market ' un-manipulate-able ' ? ... (as in BBs playing in local exchange ) ... or is it a perfect market ? ...

it is said that daily more than 3.5 trillion are rolled in and out .. and no-one person can manipulate it .. even Warren Buffet is worth only(?) 65 billlion , about 0.01% of  the market .. so cannot manipulate it ... but what about the Central Banks who have deep pockets ...surely they must be richer than Warren Buffet ... who moves the market ....


would be really a good read if anyone who knows the answer to the above shares it with us

:  )

 

.... should have been more patient ... did hit 100.40 ... and had looked forward to hitting the upper channel at 100.70 ... both turned out as anticipated  .... but not in the game ... ah well , saved myself from stressing out myself with the waiting ...

but then hind sight is perfect .. hahaha !

----------------------------------------------

the SaxoWebTrader does not seem to work ..is it my pc ?... had emailed for help .. not much help ..

one of the reasons why i cut today's trade is because IGMarkets platform froze mid way ...(actually when it had reached the exactly the usual 20 pips ) had to re-start my pc .. and the price had dropped ... and since i had to go out , thought better cut to be safe ...

 

I think A$1 may go down to around S$0.875 next year.

KIMPEK      ( Date: 10-Oct-2008 11:35) Posted: I am thinking of buying AUD to place Fixed deposit, because the rate is 0.9984 today  below S$1 and May bank is paying 6.1% for six month deposit, my question-Is this rate good? will it be drop further in the next future ? Need your expert advise!! Thank you Lin

 

Demo Trade on UJ by novice

thurs1610: buy : in 100.12 out 100.22 =10 x 4 = 40 pips

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anticipated to run to 100.40 , but not much movement .. so decided to quit after waiting for about 2 hours .. a bird in hand is worth 2 in the bush ... got to live real life too ..hahaha !

caveat emptor -- achtung ! -- not an inducement -- for entertainment and educational purposes ..

 

Demo Trade on UJ by novice 


 sell : in 101.21 out 101.01 =20x3 +0 = 60pips

------------------------------

there is a long story behind this :

after the double top , concluded the reversal to downtrend

after hitting the 50fibo downwards, very confident that fibo38.2 will also be taken out ..

therefore took position of 4 lots at 101.21 at about 9.45am ..

but , alas ... it had moved in the opposite direction and moved upwards .. and had not placed usual stop loss ...

decided to experiment : ok .. let's say .. it will go all the way up .. how far can it go .. the fibo50 will act as resistance .. so hold on tightly ... cut loss if it penetrates 102.25

looks like the experiment , or rather the gamble , paid off ... got 3x20pips + 0pips(hit stop loss)

the strenght to take the experiment came about after deciding to lose all the $5500 that had been accumulated so far ... so the peace of mind comes about once u have 'agreed' on the quantum of loss .... of course, will i have the same state of mind if its real money like trader88.sg mentioned in an earlier post .. that's a question worth pondering ...

another thing is ... like elfinchilde once said ...is it worth taking the risk of lossing $5500 for a gain of $1000 ....?

well .... anyway  .. had a long and drawn out battle today .. glad could test out this aspect ...

hope there is a lesson some where in here .. : )



caveat emptor .. charts by novice .. for educational and entertainment purposes ..

 

 

shorted EUR/USD 1.36468 and close out @ 1.36270 .. total of 198 pips.. from 1034pm to 1038 pm

4 mins 198 pips..> USD$500

 

Demo Trade on UJ:

buy : in 102.89 out 102.65 = -24 x 4 = - 96pips (loss)

thought was going to break the resistance of fibo61.8 at 103.07 but didn't ... can't upload chart becos of network error on photobucket.

 

Demo Trade on UJ

Sell :  in 102.45 out 102.28 =17 x 2 = 34pips



caveat emptor -- for educational and entertainment purposes .

 

ozone.. wow.. indeed i'm inspired by the confidence you exude in your last post about the profit, consistency in strategy..

right now, I am only trying to learn the trade. I hope I am able to say what you said with the same amount of confidence.

Thank you for your confident post.

 

Forex : its all abt strategy..

seal ur downside by minimizing ur losses and let ur profits run..

I solely rely on TA.. making consistents gains of USD $500 or more per day..

U can too..if u are discipline and use the right strategy that is consistent with ur risk appetite..

 

thought to share an article as a reminder for me and beginners :

Be Patient and Realistic:
 
You need to be patient and have realistic expectations about the
Forex market.  

The truth is that Forex is a difficult market, and unless you work hard
on it, you won’t achieve consistent results. You need to treat Forex
trading as a business and you need to be patient. In order to become
a professional trader, you’ll need some time.


Don’t set unrealistic goals. If you do so, you’ll be frustrated when you
realize that you weren’t able to achieve them.  

When you define your goals in Forex trading, define ambitious goals
but, at the same time, goals that you can accomplish. If you’re just
starting in the Forex market, define as a goal achieving a profit at the
end of the month. It doesn’t matter if it’s a big profit or not, but if
you can start with a profit, you’re on the right track.
If you’re just starting and define goals like “I’ll make $20K by the end
of the month”, you’re just dreaming. This is the kind of unrealistic
expectations that destroy most beginners in Forex. Since they define
unrealistic goals, they start taking huge risks in order to believe that
they will achieve their goal. The worst part is when the huge risks
destroy their account, and they find out that Forex trading is not a
get rich quick opportunity.

Patience and realistic goals are really important for a Forex trader. If
you define good goals and you  have the patience to work and
improve your strategy, you’re on the right track.