1. dante_akc
  2. Currency (Forex) Trading
  3. Friday, 27 June 2008
  4.  Subscribe via email
hi there, came in to place this rules of trading while I am learning.

Rule number 1
Do not play before London open, volume too low and the Dumb money is playing.

Rule number 2
If there is a demand/support or supply/resistance trendline break from the first candle wait until it close and went in only if the 2nd candle continues its trend from the 1st candle otherwise get ready to be fakeout. Please confirm it with MACD/Stoch crossover (always get fake out). Also if the market is slow and there is a trendline break wait at least for the 3rd candle to stay its due course before plunging in or else you are the dump money

Rule number 3
If price breaks a trendline and it stalls crank down to 5min and see why? Most of the time it is a fakeout. Grab your profits or cut your losses.

Rule number 4
Grab pips on retracement only if the big trend is with the reversal otherwise grab a few pips and bail out cause it will not retrace much before it is being push back by the big trend.

Rule number 5
Let your profit run while cut your losses, bag your profits fast and leave the rest for others. Get in and out on the same day. Don't be greedy

Rule number 6
Plan you trade and trade your plan. If you had plan your trade prior to London open, follow it till it hit your stop loss. Do not be affected by PA. You are the smart money everything else are the dumb money unless it hit your stop loss then you are the muddle one.

Rule number 7
Make your trading bias way before London open. Just look at price action couple by MACD status of overbought or oversold. It will roughly tell you whether it will be a price continuous pattern or price reversal pattern.

Rule number 8
If MACD crosses over much early before a trendline break. Usually the run would be premature and exhausted. If the break is obvious don't take it supply/demand breakout are mostly unexpected. Buy/sell only when Stoch is oversold/overbought even if there is a candle reversal pattern

Rule number 9
Always buy when Stoch is oversold and sell when Stoch is overbought this way you are buying value at a cheap price. If the big charts tell you the trend is up/down crank down to the 5min chart to buy/sell when Stoch is oversold/overbought this way you get better value in price

Rule number 10
For price action alone to where price will go look down from the 4hr chart see where MACD is going then crank down to anytime frame which has a a nice uptrend channel or downtrend channel and estimate where price will go. If price action is messy in one of the timeframe change and find another time frame which has a better channel/clear price action pattern.

Ok here is the intro
I have been trading for the past 6 months and I wish to be enlighten and enlightening Singaporeans here that learning to trade forex takes time and effort on your own part and that paying to learn about forex can be budget and easy on the pocket.

I know cos I had been burn by forex and so call trainers from FX1. The above rules are set accordingly to what I had discovered. So sit tight and lets see where we go from here.
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[IMG]https://bp2.blogger.com/_sj5wN7PNZBs/SHbkIrlIVPI/AAAAAAAAAGc/7ezl9Se7AAU/s400/eurusd+m15.gif[/IMG]

Price has hit above the weekly pivots and it looks like price could still continue to rise. After the G8 meeting, alot of leaders ignore Bush comments on the Dollar rising. So the fate of the Dollar is DOWN DOWN DOWN translation EURUSD UP UP UP
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 1
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Well what did I tell you. Too bad my stop loss got hit if not I would have ride the wave.

[IMG]https://bp2.blogger.com/_sj5wN7PNZBs/SHbkIrlIVPI/AAAAAAAAAGc/7ezl9Se7AAU/s400/eurusd+m15.gif[/IMG]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 2
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[IMG]https://bp3.blogger.com/_sj5wN7PNZBs/SHWLNLC0S6I/AAAAAAAAAGU/gYeFBIkd-Io/s400/eurusd+m15+before+london+open.gif[/IMG]

Looking at price alone EUR could rise again how much. Well leg 1 is the height of leg 2. So that is roughly how far price could go.
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 3
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Today EUR might see the light

[IMG]https://bp0.blogger.com/_sj5wN7PNZBs/SHL9LR0LArI/AAAAAAAAAFs/zCBkMtFZfkc/s400/eurusd+m15.gif[/IMG]

USDJPY are fighting but price could slide to M3 then to M1 afer New York open

[IMG]https://bp3.blogger.com/_sj5wN7PNZBs/SHL-GVhWSCI/AAAAAAAAAF0/-Ye7mJPMR44/s400/usdjpy+m15.gif[/IMG]

My take, go long buy the dips in EUR and sell the rallies in the Dollar.
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 4
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Price could hit rock bottom with this Seth Gregory weekly pivots.
This is a tell tale sign where price would remain. If price hover below 106.84 - 92 price could well remains below it unless another good news pumps it up.

[IMG]https://bp0.blogger.com/_sj5wN7PNZBs/SG3CLtSPJZI/AAAAAAAAAFk/LlmwSpefKe0/s400/usdjpy+h1.gif[/IMG]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 5
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EUR may looking to tank with the recent interest hike, to curb inflation thereby accelerating the growth of the Dollar with its estimated jobs loss to be better then expected.

[IMG]https://bp2.blogger.com/_sj5wN7PNZBs/SG24FWT2skI/AAAAAAAAAE8/PRPe7DQZsLk/s400/eurusd+m15.gif[/IMG]
As for the Dollar we see up and up.

[IMG]https://bp2.blogger.com/_sj5wN7PNZBs/SG24lqptv6I/AAAAAAAAAFE/KBRYj3krBNI/s400/usdjpy+m15.gif[/IMG]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 6
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This could change if later at 8.30pm Singapore time Non farm payroll result is positive. This whole price pattern could change.

[IMG]https://bp3.blogger.com/_sj5wN7PNZBs/SGx4e6cu1LI/AAAAAAAAAEg/if-Jpo0T5_Y/s400/usdjpy+m15.gif[/IMG]

Stay tune for more trades.


Play with the Big Dogs
[URL]https://dantefoab.blogspot.com/[/URL]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 7
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Took a cheap trill before London open. Very bad move as I am going against the trend (The Big Dogs are long) to go short. Lets see if the indicators are right.

[IMG]https://bp3.blogger.com/_sj5wN7PNZBs/SGxp8A2x_xI/AAAAAAAAADs/v2MuewZTGnM/s400/eurusd+m15+0545.gif[/IMG]
Playing with the Big Dogs
[URL]https://dantefoab.blogspot.com/[/URL]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 8
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Price has reach its weekly resistance line. To confirm whether price would continue I would suggest if price breaks through the 1.5902 level before confirming its trend.

[IMG]https://bp1.blogger.com/_sj5wN7PNZBs/SGxPkpElMkI/AAAAAAAAADY/Q5nGlDDOd6M/s400/eurusd+h1.gif[/IMG]

However I notice there is a bull flag channel forming. Normally its a sign that EUR is strong and the bull have somemore steam to go. Of course you have to see whether there is a trendline break with MACD changing side and Histogram going above 0.

My take price could still skyrocket. But note Non farm payroll. Could reverse everything.
[IMG]https://bp0.blogger.com/_sj5wN7PNZBs/SGxQwUgR7yI/AAAAAAAAADg/i5f8i9Tazj8/s400/eurusd+m15.gif[/IMG]

The above goes for EURJPY and EURGBP.
The reverse applies to USDCHF and USDJPY.

Play with the Big Dogs
[URL]https://dantefoab.blogspot.com/[/URL]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 9
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Took this trade off yesterday, I did not bag the first one but manage to bag the 2nd. Sometimes it is better to watch things afar to understand a better picture. Also it is better to have 3 green lights to place your order. Remember indicators are lagging whereas price is King. See price action evolves first before making the decision if not during the initial 2hrs before London open you could get slaughtered.

Trade #1
Go Short but becareful you are going against the trend.
[IMG]https://bp2.blogger.com/_sj5wN7PNZBs/SGw4UX8_gYI/AAAAAAAAADI/lpO3ZsM9qfQ/s400/eurusd+15min+%231.gif[/IMG]
Trade #2
Go Long don't have to care since you are with the big boys play.
[IMG]https://bp1.blogger.com/_sj5wN7PNZBs/SGw5xlFdc1I/AAAAAAAAADQ/OFy85o5aAF8/s400/eurusd+15min+%232.gif[/IMG]

Play with the big boys
[URL]https://dantefoab.blogspot.com/[/URL]
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  1. more than a month ago
  2. Currency (Forex) Trading
  3. # 10
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