Start Trading Forex

This week is the official week that I really start my forex trading. Last week the first week of the month, there is a lot pairs trending downwards. such as GBP and Eur.

First Trade of 2015 Turn Sour

Long GBPUSD. 
Tested the trade copier. Its easy to use. Was happy that my accounts we activated almost in less than a blink. Perfect.

My long trade turn sour. Disappointed to open a losing trade to the New Year. Just the start of the week, we still have 360 days ahead!
Going to get back my pips. Average is 100 pips and up per week. 

Will update progress for other trades.

Check Check Check

Wow never thought setting up all the necessary is so much work. As I had mentioned in the last post, Next Week I will be launching a forex fund trade copier service. The following were what has been done and not done.

Things to do
1. Find the right broker - Done
2. Make sure the support is good - Done
3. Opening of Live and Demo account - Done
4. Trade Demo Feeds - Done
5. Fund Live account - Done
6. Trade Live Account - Pending, holiday season
7. Small withdrawal to test efficiency - Done
8. Prepare step by step guide for client to follow in the account process - Done
9. Buy best Trade Copier that is easy, great features and clean UI - Done
10. Subscribe to VPS - Pending
11. Live Testing on the whole process - Pending
12. Loading Clients account - Pending
13. Post results here - Pending

Penning down the to do list helps to see what is left to be done. Seems like things are on the way. Will update more later.

Forex trading 2015

Been A while that I had updated my trading journey. Things had been great! Hope my readers are too. 2014 had been a great year for trading. Will be updating my progress in 2015.

A little update on my journey.
I had accepted a few students since 2009.  Trading was great for them and I had also learned alot from them. The way I trade had changed but one thing never change but grew to be better and stronger. Thats right, its money management! It is so important to manage your trading funds. I had students and people I know who lost their trading funds and got bench on the side line when the market is in the favor. Always protect your funds no matter what. Never go more than 5% risk on your total account.

I have big plans for 2015. Jan onwards I will be providing signal service to a small group of beta test clients. Its an exciting year ahead. Will be updating my trading signals in next year. I invite you to stay tune!

Have a Happy New Year and all your wish come true.

GBPJPY Short

Shorted GBPJPY at 147.15. Stop loss set at 147.45 a conservative 30pips Stop loss. Profit target set at 146.15 near the weekly pivot. My long term trigger line cum support is also right at that level. Therefore is a very significant level for me.

Base on the 4hr chart, the short term trend line shown above had been broken. My signal came in at 2000hr. Its a double confirmation for me to short this trade. I'll need to monitor this trade closely. Position will be move to breakeven once it hit 50pips profit.

For now, I'll seat back and relax. I trade what I see with little emotion. Once trigger was pulled, there is nothing much as trader can do but wait out for the trade plan to materialize. We manage our loss and and let profits run. Set targets and stop loss according to what we see from the charts, if the win lost ratio is healthy we have lesser risk. If its even risk reward, we have to read our chart closely and prepare to manage risk in a conservative manner.

We did the right thing for coming out before it reverse. Last night we are just 7pips away from target but it reversed and hit our 20pips trailing stop loss. 2 hours after that the market move straight up definitely taken out our stoploss if we had never shift.

As we are being conservative according to the reasons provided 2 post earlier, we are able to take some pips off the table. Therefore Trade your plan, plan your trade.

Was out with +14 pips at 150.48.

Nov: +109 pips

GBPJPY Short

Short @ 150.62 base on 1hr chart trade signal. We are leaving only 20pips stoploss @ 150.82 as it might be a double bottom. Secondly, I don't usually expect US session to go in my way. We set our target at 40pips profit. Last factor is 150.48 and 150.37 are our monthly and weekly pivots respectively.

Stoploss will be set at 20pips trailing to get as much off the table as possible while I'm asleep :)

Currently standing at +11pips.

Target hit with lots to spare. Important resistance at 150.34 - 150.48. Weekly and monthly pivots respectively.

+95pips

GBPJPY Long

Long trade open at 148.90. Stop loss shift to 149.40. Lock in 50pips

First trade of the month with positive outlook. Past 2 days its ranging between 240pips. It may seem like a good opportunity to get some money off the table but to me its too unpredictable to place a trade. We trade to make money. Therefore only we look for confirming signals for entry.

If 1200am price is at 149.75, we will look for another buy if that happens.