Aussie, Aussie, Aussie

Oi, Oi, Oi.Yeah, okay, it's a big honking rate cut.Scuttlebutt has it that there might be some coordinated activity in the works, which this RBA rate cut is a sign of.I'm a bit skeptical of this, but you never know.However, with their rate now down "all the way" to 6.00 percent, a very high employment rate and a huge public works infrastructure project in the pipeline, funded by recent record

Europe Gets Crushed

Well, it's been an interesting 24 hours on the Forex markets.I'd like to say I was on top of everything and made a boatload, but instead I have to admit this has been a lesson style experience. My stops were hammered mercilessly and then the markets dumped me unceremoniously on the pavement. So to speak.I guess the theme of the day is weakness in Europe. Another theme might be strength in

Advantages of the Automated Forex Trading

Trading with the expert advisors is seen by many (especially newbie) traders as the «holy grail» possibility. Such traders expect from each EA they find or buy the fast and risk-free profits. Of course, expert advisors are not the «holy grail» in Forex trading. Automated Forex trading is just another tool that can make the trader’s life a bit easier and sometimes even more profitable. Here is the list of the advantages of trading Forex with expert advisors:

1. With expert advisors you can trade during the time you can’t trade manually. You can set up an expert advisor to trade for you when you are asleep, when you are away or when you are too busy to be involved in the market. Of course, you can hire someone else to trade for you, when you are away, but that’s rather ineffective decision.
2. Strict following the trading system is another advantage of the automated Forex trading. If you have a strategy implemented in the expert advisor it will trade according to that strategy without any deviations. If you find it hard to follow your own system without modifying it constantly, try using an EA that would do all the work.
3. Automated trading excludes any emotions form your market behavior. Computers and programs don’t have any emotions and won’t overtrade if they lose. If you are not very good at holding your emotions down, automated trading will definitely help you.
4. Complicated strategies are not a problem for the expert advisors. For the live trader it’s not an easy task to monitor a dozen of indicators and compare each of them to the entry conditions, whereas expert advisors can do that easily and in no time at all.
5. «Errare humanum est» said the Roman stoic; that means that despite your experience in Forex trading, you’ll make a lot of stupid mistakes through your trading career. Computers are not human, and if programmed without errors, expert advisors won’t make any errors during the trading.
6. There are many things a live trader just can’t do — trading on multiple strategies, timeframes and currency pairs simultaneously is one of them. If you want to use your system on several currency pairs and timeframes — use expert advisor. If you want to test several systems at the same time — also use the expert advisor.
7. The time of reaction, analysis and decision making can be critical in many Forex trading systems. Where manual trader just can’t do it fast enough, automated systems will work fine.
   

Perhaps, I’ve missed some important advantages here, but this list looks quite impressive to me. Of course, there are certain disadvantages in the automated Forex trading, but they will be a subject of my next post.

USD2000 IN 2 WEEKS

This was an article I posted last year. I took it down due to some agreement between me and Henry Carol. It seems that he forgot about it and forgot to fill his end of the bargain. Furthermore I notice his website claims profit of 1420pips on March this year. Kind of hard to believe if you are in my position. Keep on reading on the original article and maybe you can understand why is it hard to believe for me. Hopefully this article can give you some ideas on what is going on.

Lately I found myself having very little time to trade. On August 07 I only traded for 3 days due to my day job requires me to travel alot. So I look around the internet for an account manager. After looking around I've decided to let someone whom I once bought signal from to manage my account. Below are his details.

YM name = double88forex aka Henrycarol
Real Name = Leong Tian Su
Maybank A/C Number = 108011745015
Phone Number = +6017 888 0963
Website = http://www.profitpips.com/

He is an IB for Northfinance.com, meaning that anyone who open an account under him will entitle him for commision based on trading volume. The more you trade the more he earns.



After showing some impressive account statements, and promise for a target return of 50% a month I finally handed over the account to him. You can click on the picture to see the result of his trade. It is pretty impressive to see what he can do with USD2k in 2 weeks time.

As you can see he totally lost it in 2 weeks time. After he lost it, he just say that he is being reckless and asked me to fund the account again so that he can trade again. What you guys think I should do?

Money I have and money I can find, but the hardest thing to find is responsibility and friendship. You will be surprised at how easy it it a human can be bought by money. You guys might say USD2000 (RM7000) is a lot of money to lose but know this, I have lost more money to people whom I know as friends. These 5 years I have friends that borrow money from me for a total of RM12,000 and I have never seen the money back. Once they have got the money they will just avoid meeting me.

This is a sad story of how I lose my spending money. I hope that all of you out there can be cautious about who you give your money to be it online or offline. This is because once a friend borrowed money from you and he decided to split you will lose money and friendship. They just dont understand that all the power and money in the world counts for absolutely nothing when you are alone. Which is it that you want? More money or more friends?

Anyway back to trading, fasting month is a month of rest for me. I can spend more time in the office so I have time to trade. Last week I gain 10.99% of my account. Hopefully I can maintain that till end of the month. Happy trading everyone.

UPDATE:

I forgot to mention one thing. On top of the USD2000 there was also a setup fee of RM300. I totally forgot about it and that is why I didnt mention it on the above post.

After I posted this story, Henry Carol contact me again via YM with an offer. Take down this story and he will return me the setup fee of RM300. What you guys think?? Good offer or not?

Seeing Beyond The Bailout

Now that the US bailout package has been passed the question on everyone's mind is what happens next?Nobody knows. Conversely, everyone knows!Once the question of government action has been answered we know that the currency markets will move either up or down. Basically, the only time they are in near stasis is when speculators and investors need the next piece of information in order to

Good Trade so far

Its been a good week. Last week I posted signal for UJ and GU. I was hoping UJ to make the move but instead GU has done it. Over 1000 pip move. UJ is undecided due to the US economic situation and the 700b bailout plan.

At the moment I have closed all post. GU and GJ is making the strongest move of turning but it wont turn just yet. If you are used to these type of market you will understand that it will take time. So next week hopefully all goes well and a trade signal will come up.

Looking at the chart GJ is closer to breaking the trend compared to GU while AU is going flat now. The rest is slowing down except UJ. I dont know where its going.

Happy trading and see you next week. Hopefully :)

Close Your Eyes

Okay, so it doesn't look like anything at all is happening as of yet. Personally, I'm scalping the EURUSD on the 1 min chart this evening.It seems that nobody is willing to assume that the house will pass the bailout bill this time around. So, once again, we find ourselves in a state of financial stasis. In fact, given the rise that occurred on the original announcement, it may just be that we