Equity:78.05 - Haze record high

Just came back from Man of Steel, did not really enjoyed it as much I expected. Cause my expectations are too damn high! Just like the haze. I still took a romantic walk in the haze, telling my girlfriend that it is something that don't happen often. And we should dance in the haze instead.

But I did not know the haze has reached PSI 321. The highest ever in Singapore, and even higher than the one in Beijing. Well, I will just tell my kids next time we danced in PSI 321 haze before.

Anyway, as sad as the weather outside, my trade yesterday ended with a stop loss. I was closed to grabbing the winning, but stopped short abit.

Maybe one thing I can take away from the trade yesterday is to set the profit only 2 times the stop loss instead of 3 times. 

Have a good night people!

Equity:89.33 - Singapore under haze

Hi guys, today Singapore is under haze attack from our friendly southern neighbor again, Indonesia. Our ministers have already signed many treaties to ask them to stop this illegal burning, but I guess their leaders also have a hard time implementing it to the rural assholes who started it.

The farmers wanted to clear the trees for plantation. And fire is easiest way to clear it. It is fertile for the soil too. But bloody hell, when the farmers switch on their TV, they must be laughing that Singapore and Malaysia are both engulfed in the thick smoke for the great work they have done.

The jungles of Indonesia also have an endangered species which I know of, the Orang Utan. I hope their environment is not affected.

Photo is not by me. Please give me warning to take it down first before you sue me

Back to Forex, I bought USD to rise against CAD. This trade falls under one of my 2 criteria, the Reversal. Below are other things to take note about the trade.

• The Profit Limit is placed 3 times more then the Stop Loss
• The smaller the Stop Loss allowance, the more achievable the (3x) Profit Limit
• The hourly candlestick trend crossed the 50 Period SMA (blue line)
• This reversal is placed at a decent timing, after a red candlestick, and then bouncing up again
• The stochastic (below candlestick graph) is pointing upwards and not in the overbought region
• The trade, if lost, is around 5% of what I have in the beginning of the month (SGD 100).

And also note that, contrary to my previous post, I will be using Hourly instead of 5 min Candlestick chart. This is solely because for 5 mins candlesticks, whenever I placed a trade, a large amount of it will be eaten up by the commission the platform charges.

Hope the trade goes as planned. Tomorrow I will be catching Man of steel. Heard from my friend that it is awesome, and some said it can even be compared to Dark Knight. Omg. Looking forward to it, and I hope you guys enjoy it too!

Equity:84.74 - Reversal failed

Equity reduced again today, after making 2 trades.

I was betting on a reversal in this 5 min chart. The point begins at the long Red candlestick on the right side of the chart. It cut the 50 period line (the blue line). But the reversal did not happen and it continued edging upwards.

Lesson to take away today :

• I planned to enter the trade after seeing some green candlesticks again.
• But I should have waited for a completed Red candlestick (full 5 mins) first before entering to sell.
• I entered the trade 2 times when the candlestick dipped, but have not completed the 5 mins period.

Forex aside, today Perth Mint announced they will be selling Doctor Who coins starting from 17 Jun. Too bad I have not seen the series before. If it was for the Simpsons or How I met your mother, I will definitely buy a bulk of it. For Doctor Who fans out there, you might be interested! Silver might appreciate in future, and the package and design of the coin is salivating!

You can click on the link below if you are interested!

http://www.perthmint.com.au/doctor-who-2013-1oz-silver-proof-coin.aspx

Anyway I am not affiliated to the mint, and currently too unknown to earn any commissions.

Equity:95.74

Just came back from watching 'Hangover 3'. Enjoyed it more than I thought, as my expectation for the movie was lowered by the ratings of IMDB.

I was choosing between watching 'Gatsby' or 'Hangover', but chose the latter because I heard Gatsby is quite a complicated movie to understand. I don't want to use my brain anymore after work.

My favorite parts of the movie is the Fat Jesus. Its hard to describe him, hahaha. But the closest words I can think of about him is 'Fucking Lame'. He just does the most unimportant things in the most important times. LOL. The movie will suck without him.

Anyway, where is the Forex talk? I felt that if this blog contains only graphs and talks about Forex, it will feel like an office. My idea of this blog is still like an office, but an office with plant and flower pots in it. It is kind of boring with only words and charts. So, for tonight, Fat Jesus gonna be my plant for this entry :D

Now this blog looks more awesome

Anyway again, I still have not traded for many days. And after many thoughts, I decided I should start trading with 5 min candles using the same breakout and reversal logics. The reason is because if I waited for opportunities in daily candlesticks, it will take a long time for me to trade. And it will take a longer time to test out my theories.

Tonight I am home later, and I do not have much time to monitor the 5 min candlesticks. Hopefully tomorrow the trades will flow, and we will see some movements in my current account.

Also from now on, I will just copy the Equity from my trading platform and paste it in the title, rather than manually typing it out. And I have no idea why the equity changed again from last night ?_?

Good night people, 'Superman' is screening tomorrow. Hope you enjoy the current wide selection of movies :)

S$98.88 - no activity day

Good day~ the above is how much I have left. It changed a little from my previous post after some re-adjustment from my unrealized P/L. And I have no idea why too lol. But I bothered to talk about it because the number is nice. 9-huat-huat-huat!
(Huat means prosperity)

Today is a boring day, needless to say in terms of my work, and also for the currency market. Not very volatile, but I am waiting for something that might be developing. See the graph below.

From the simple chart above, I am waiting on the reversal of the upward trend. In idiot terms, I am betting on the trend going downwards after sloping up for so long.

It has already cut the 50 period SMA line (the blue smooth line) already, which might be an indication of a reversal. But the point I will enter the trade is when the last candle stick turns green again.

After losing most of the S$650 which I invested in the forex account, the only 2 methods which gave me real results is actually betting on reversals (such as the above) and betting when there is a break through. I will talk about break through when there is a very classic example that develops in the future.

For now, this USD/JPY trade is really setting up to be a very nice reversal example. No one can predict how the trend will go, and the above being said might not happen. But what separates the winners from losers is that when a prediction really comes through, you have to really profit from it. If it doesn't comes through, just stop your losses and wait for another time. Sooner or later the fish will bite the bait. You have to be prepared for the fish fight when the time comes.

Stay tuned to see how the trend develops the next few days.

:)

S$99.56

This is the first time my trading platform, GFT, emailed me saying that my remaining equity has reached 75%.

I don't really know what it means, I only know it sounds like I will be bankrupted soon. I knew throughout the day, that USD hadn't been doing too well, and stock markets are taking a beating.

I reluctantly logged into my account to get a clearer idea what was going on. I saw that my available equity is bouncing between negative and positive. I closed it and to my surprised, it returned S$99.56 to my account! I thought that when I closed my last trade, my account will be left with around zero, and I was ready to pump in another 1k into it. But now, I am fine!

• This few weeks, what I learnt is that technical analysis is still a better way of determining how I should trade. I was trading on the news the past few weeks. Weird thing is, even if you guessed the news correctly, you still might not be able to know where the crazy currency world might be heading.

• Another thing I must do now and in future is to really stick to a trade size discipline. I should restrict each trade to lose a maximum of 5%-10% of my total available equity. I only have around S$100 left, and it is the only consistent way to fight my way out of my losses.

• Last thing I learnt is that, I should place a more narrow stop-loss / trade price. This is so that I can exit trades earlier, and at the same time I profit more from a smaller stop loss. 

For now, my feelings are jubilant, and the video below describes my mood :)

Live today, fight another day~

S$180

Just came back from work, and as usual, it sucks lol.

Anyway, my AUD/USD closed out. I was trying to decipher how much I lost in that bet, but could not get it.

My other USD/JPY trade is still ongoing. From the chart below, it looks promising.

• Stochastic has reached the bottom and it looks like it's pointing upwards.
• From the candlesticks, it seems to be going through a cycle of leap and bounce. As you can see, it looks ready to bounce up again away from the 50 period line.

To infinity and beyond!