2010-07-30

1: daily is up 3hourly up flat hourly flat down 15minute down 5 down
2: News to come is: N/A
3: What's the main event just happened that move the market? and is it trendy? not trendy, choppy. buying at 1.2880 and top 1.3090

4: What do you think the market will do today? choppy down.

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
Do you take half at 1R?
short pop
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

2010-07-29

1: daily is up 3hourly up hourly up 15minute up 5 up
2: News to come is: NA
3: What's the main event just happened that move the market? and is it trendy? Korean buying and China selling at 1.3050, after Moody news, it shots up to 1.3090.. now trade at 1.3086.

4: What do you think the market will do today? up

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
Do you take half at 1R?
buying dip
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

2010-07-28

1: daily is up 3hourly up hourly up just bounce from ema62 15minute flat 5 choppy up..
2: News to come is: 7:30 crude oil
3: What's the main event just happened that move the market? and is it trendy? not trendy, choppy between 1.3040 and 1.30, Russia and China selling, other Asia country buying.

4: What do you think the market will do today? choppy up, depends on if 1.3040 can break.

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
Do you take half at 1R?
buy the dip.
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

2010-07-27

1: daily is up 3hourly up hourly up with 1.2960 and 1.3040 as range 15minute flat and down, 5 down.
2: News to come is: 7:00 CC.
3: What's the main event just happened that move the market? and is it trendy? choppy, we are at where we were yesterday US close. it pop to 1.3000 first and then China SNB BIS sell push to 1.2960 then EURO buying and Korea buying, then push up to 1.3040, now failing back to 1.2990 level.

4: What do you think the market will do today? depends on if 1.2960 can support.

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
buying at dip, and previous support, as long as hourly still up. with smaller size and lager stop.
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/1

2010-07-26

1: daily is flat up, 3hourly up, hourly up, bounce from ema62 twice, 15minute flat 5 flat
2: News to come is: 7:00 New home sell.
3: What's the main event just happened that move the market? and is it trendy? choppy ranging with 1.2900 and 1.2960, with US invest bank sell and mid east buyer.. now trade at 1.2930.

4: What do you think the market will do today? choppy all day.

5: Were you right about the market? (After the trading session)
It was very very difficult to trade today, there is no trend and support / resist didn't work well in this ranging market either. the price action were choppy and techincals are all out of the door.

6: What's the trade? Is it related to the previous loser or winner?
buying if it breaks above 1.2960 short if it drops 1.2900, range trade in between
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

Bank stress test result this morning.

Is too choppy to trade, I decided to close my workstation after lost -3pips. I guess traders are confused and noone know what these results really mean.

1: daily is up 3hourly up hourly flat 15minute down 5 down, support 1.2860
2: News to come is: banktestresult 16GMT
3: What's the main event just happened that move the market? and is it trendy?
spain bank failure, mooody downgrade hugry, then good news of the econemic news from eur, move the pair from 1.2900 1.2861 1.2960 1.2880..

4: What do you think the market will do today? very choppy today.

5: Were you right about the market? (After the trading session)

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/

2010-07-22

1: daily is flat 3hourly flat hourly flat 15minute up 5 up
2: News to come is: housing at 7:00 AM
3: What's the main event just happened that move the market? and is it trendy?
Russia buying at 1.2740 send e/u to 1.2800+ then SNB BIS sell 1.2850, then news for 3-moth send to 1.2880, up trendy, but be carefull with the round top.

4: What do you think the market will do today? up.

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
buying on the dip.
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

flash crash in GBP/USD

A computer glitch at Dutch bank Rabobank Wednesday caused a sudden and fleeting slump in sterling, traders at other banks said, marking the second such currency-market blip for the week.
The pound tanked by around 1% against the dollar at the outset of European trading hours, causing confusion for a moment before the currency quickly sprang back.



I don't buy the "computer glitch", computer don't make error, it's human. If you have a chart for GBP/USD, you can see we are heading to where it was the crash low. Same thing happened in DOW 1000 points crash. We get there couple days later. If you bet base on not trusting the news said, the odds are in your hands.

2010-07-21

1: daily is up flat 3hourly flat hourly down 15minute down 5 down
2: News to come is:
3: What's the main event just happened that move the market? and is it trendy? rumar says BIS and us bank sold 1.2900

4: What do you think the market will do today? sliding down

5: Were you right about the market? (After the trading session)

6: What's the trade? Is it related to the previous loser or winner?
short the pop, I know it's boring.
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3


I didn't do well today, 0 pips. I was long at the bottom, but that keeps in mind is not in my plan, so I closed the trade too early without let the profit run. Then I short on the top, but also closed too early because of the previous mistake are still in my mind. Or it's because the pop was pretty fast that I'm afraid of losing if I don't close, anyhow, should be a 20+ day, but I ended with 0. Price still bouncing around the downtrending ema62 in 5 minutes chart, so my original idea of shorting the pop would have worked.

2010-07-20

1: daily is up, turning flat, 3hourly up, turning flat, hourly down, just turned 15minute down, 5 down,
2: News to come is: housing just came.
3: What's the main event just happened that move the market? and is it trendy? we failed to break 1.3030, which rumor said lots of stop at 1.3020, but didn't happen, then european corp sell at 1.3000, then Hungary weak bond sell push the price down, then european stock market down 1+ push the price to 1.28xx.. now it's at 1.2860 level. It's down trendy!

4: What do you think the market will do today?

5: Were you right about the market? (After the trading session)

6: What's the trade? I
s it related to the previous loser or winner?
will short the pop, need more waiting as there is no pop yet..
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?
20
6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

news reader.

I don't know about how you guys read the news, well, it's part of the trading, we don't just look at chart, we read news and get to know what's going around the world and what moves the market...

In general, news doesn't help much in Day trading / scalping, unless you have bloomberg terminal or something similar. As that's fast enough.

I use to use Oanda's news when trading FOMC/NFP, but I'm not trading news anymore so don't need to be that fast.

I use google reader to get RSS feed from all the news site I followed, I use to have a hudge bookmarket list that I open every day morning, now it's all in one place, google reader.

Then I realize lots of the site/rss feed, I don't really pay much attention to them at all so I slowly unsubscribed.

There is one site I want to list here so that readers can benefit:

www.forexlive.com (it's fast and full of rumors, which is just want we need to trade FX!)

2010-07-19

1: daily up 3hourly up hourly up 15minute up, the pull back is to 1.2930, ema 62. 5 up.
2: News to come is:
3: What's the main event just happened that move the market? and is it trendy?
BIS buy at 1.2880 Bankers sell at 1.2990, now trading at 1.2965.
trendy, up trend.

4: What do you think the market will do today? continue the up trend, see if 1.2990 and 1.3010 cap.

5: Were you right about the market? (After the trading session)

6: What's the trade? I
s it related to the previous loser or winner?
buy at pull back.
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/20/3

2010-07-16

2010-07-12

1: daily is flat, 3hourly flat hourly down 15minute down 5 flat, so bigger trend is down, but lower trend is inndecition.
2: News to come is: None
3: What's the main event just happened that move the market? nothing much, last week's move was over, 1.2710 level is the top. Now people are looking for directions in the mean while rumor saying China is buying at 1.2500 level.

4: What do you think the market will do today? flat, and up little bit

5: Were you right about the market? (After the trading session)

6: What's the trade? Long at 1.2570 level, stop 1.2545, target 1.2599 and 1.2640
Is it related to the previous loser or winner? no..
Do you take half at 1R?
Is it follow the rules? yes
How many pips it risk? 25

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/25


BTW: Spain won the world cup, they played a better game than Holland.


update1: 9:40 AM PST, it's testing 1.2585 level the 3rd time this morning, and it's getting pressure from downtrending ema62 on 15 minutes chart, if we couldn't close above this time, I will tight my stop to BE at least.. I can always buy again when it bounce from 1.2550 level.

update2: sold half at 1.2596, rest stop at BE.

full of rumor last week.

Prediction: Holland to win over Spain 2:1 in the final.

2010-07-07

1: daily is flat 3hourly up hourly flat 15minute down 5 flat
market is not as move as previous sessions, seller at 1.2600 and selling stop below 1.2550. world wide stock 0.5 lower.

2: News to come is: no news today.
3: What's the main event just happened that move the market? there is no energy after last week's move up, it's tired.

4: What do you think the market will do today? sideway for today, moving lower more likely

5: Were you right about the market? (After the trading session)

6: What's the trade? short on the pop sell at 1.2602, stop 1.2615
Is it related to the previous loser or winner? no
Do you take half at 1R?
Is it follow the rules?
How many pips it risk? half 25

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/

2010-07-06

there is no trade today, I was too tired after all the activities for the long weekend. Hours of driving, playing with kids, washing all the clothes, and then cleaning the washer (my son has a pocket of sands in his sweater which I didn't know before wash it!!)

I will have a good rest today and gear up 100% for tomorrow's trade..


TSLA is back lower than the IPO price, lucky I sold all mine.

Go Holland!!!

3 2:0 Y 2010-07-02

NFP today, I had some scalp for 3 pips, not worth for chart here...long weekend everyone.

2010-07-01

SAMA (Saudi Arabian Monetary Agency) buyer this morning, and China buying .

I had one stop out -30 when short at 1.2400 level... now short again at 1.2420 level, stop 1.2450.

1: daily is down 3hourly up hourly up 15minute 5 up
2: News to come is: 7:00 ISM and Pending home sale.
3: What's the main event just happened that move the market? SAMA and China buying eur/usd.

4: What do you think the market will do today? would top at 1.2470 level.

5: Were you right about the market? (After the trading session)

6: What's the trade?
buy the pull back to ema62 on 1minute or short at 1.2470 level.

Is it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?30

6: What's the trade? I
s it related to the previous loser or winner?
Do you take half at 1R?
Is it follow the rules?
How many pips it risk?

what's the daily limit and daily risk now? 60/30-60 depends on the last trade.