Whats wrong with Chinese New Year - forex trading yogyakarta

Whats wrong with Chinese New Year ~ forex trading yogyakarta

Its that time of the year again where all things red fill our surroundings, Chinese new year songs with drums and gongs jam the radio stations and streets. You might be surprised
to hear this, but theres actually something wrong with Chinese New Year. No wonder every year people say the new year spirit is lower than the previous year.

Here are some of the things i noticed;

1) Its a different date every year!

We celebrate New Year on the 1st of January every year. Same for Christmas on 25th of December and National Day on the 9th of August every year.  But when it comes to Chinese New Year, it can range from early January to even March! How confusing is that? 

I understand it happens this way due to us Chinese following of the lunar calendar. But we are so used to following the January to December calendar format and that is the reason why we hear people asking without fail every year, "Hey when will Chinese New Year be next year huh? I need to plan my leave leh." 

In fact i need some time to generate the mood, man!

2) Ang baos are too overly rated

Elders and married couples are usually the ones giving ang baos (red packet) to the younger ones or unmarried relatives in the family line. The symbol of giving ang bao is to suppress ageing, give blessings and good luck for challenges faced in the coming year. 

However, we are now in the era where heaps of articles will come out publishing the appropriate amount to give. They can be based on age, closeness, and even how much you earn. Its almost like a yearly payment to the tax man. I am suppose to give more if i earn more and not according to my own wishes? No wonder no atmosphere lor. The giver wants to give less, the receiver wants more. 

Haha my wife handles all the angbao budgeting and giving but my savings plan is sure gonna get a beating..  

3) Eating and drinking

The feasting begins long before the actual Chinese New Year. From barbecue pork to pineapple tarts, mandarin orange to soft drinks and beers. All these are right in front of you whether you are at home or in the office. 

Then comes the reunion lunches, reunion dinners with relatives from your fathers side, your mothers side, your wifes father and mother side...the list goes on and every meal is a mega feasting. 

It probably doesnt end until 2 week after the CNY holidays. (We are supposed to celebrate CNY for 15 days, you know..) 

The good part about this though, is the gathering of friends and relatives but the bad part is the side effects that comes along with over eating like indigestion and most importantly, weight gain. 

But I guess the most determined of us cant resist the hammering of good food for so many days...

4) Ghost towns everywhere

The trains and buses become near empty, shopping centres become less lively and also less convenient as businesses close for these few days or even up to a week as Singapore is largely populated with Chinese and we usually take a few more days of leave after the official public holiday. 

Therefore every one else is having a feasting of their own. And if you are looking for a cab on the streets, good luck to you as they will be few and far between.

5) Questions from relatives and friends

It seems like our uncles and aunties are the most forgetful people in the world. Every year since young, without fail, there will be the exact same set of questions being asked. 

If you are schooling, they will ask you about your results. If you are working, they will ask you about your work, your pay, whether you have girlfriend or boyfriend, then comes the when are you getting married, when are you having your first child, then 2nd child... the list goes on. But i guess its all part of an effort to get to know each other more and should really be appreciated.

Above all, Chinese New Year is a time for reunion and also a joyous occasion to be celebrated. So let just relax and look on the bright side of every thing and spread the love! 

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Understanding Forex Trading - forex trader youtube

Understanding Forex Trading ~ forex trader youtube

Understanding Forex Trading

Having traded for a month on the forex market, i shall attempt to explain some of the basics in forex trading. Or at least my understanding of the whole forex thing. The following 3 charts
all relate to the same currency pair of USDJPY. They look so very different, dont they?


Time frames
Unlike the stock market which generally starts at 9 am and ends at 5 pm, trading in forex is a 24/7 thing. You can trade at any time of the day or deep in the middle of the night. You can watch the market in various time frames of M1, M5, M15, M30, H1, H4 to MN. It basically means there is a chart which updates by a minute, 15 minutes, hourly and up to monthly. I generally look at H1 (hourly chart), H4 (4 hourly chart) and D1 (daily chart).

Candlestick
I believe the reason why they are called candlesticks is probably due to them resembling candles with a wick at the top and bottom. In the above picture, there are 2 such candles.

Green candle - This indicates that the price is going upwards (bullish) with the bottom green as the opening price and the top green as the closing price.

Red candle - This indicates that the price is going downwards (bearish) with the top red as the opening price and the bottom red as the closing price.

Candle wicks - The thin line that protrude from the green and red candles indicates the highest or lowest price it ever went to during that time frame.

Try and see if you can figure out the trend from the above time frame charts.


Spread
Similar to shares trading where you are required to pay a commission every time you place buy or sell a share, it is the same when you trade in forex. But over here it is called a spread and can range from 3 to 12 depending on which currency pair you are trading. Example in the below picture, the spread for NZDUSD is 3 and NZDCHF is 10, meaning you need to earn more than the spread of 3 or 10 pip before its considered your profit.

PIPS
Forex trades up to 4 decimal points and every increase or decrease of 1 point is equivalent to 1 pip. Using the same picture above for illustration, if i were to buy the currency pair of NZDUSD at 0.6371, hoping that the price will go up, it would have to reach a price of at least 0.6375 which is an increase of 4 pips before its considered a profit 1 pip (0.6375 - 0.6371 = 4 pips increase less spread of 3).

Ok, thats about all for the basics, i will be back with more as i learn more.
I am currently updating my trades here, so check it out!

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Bollinger Bands Scalping - forex market hours gmt

Bollinger Bands Scalping ~ forex market hours gmt

Bollinger Bands Scaping is a forex strategy with a good profitability around the 80%.

Time frame 15 min , 30 min.

Currency pairs: Majors (EUR/USD, AUD/USD, USD/CHF, GBP/USD, AUD/JPY, NZD/USD, USD/CAD).

Indicators:

Bollinger Bands (20:2);

Stochastic oscillator (5,3,3).

Buy

When price out under lower band line of Bollinger Bands wait that the price will come back in the band.
When the first candle close in Bollinger Bands if the stochastic oscillator crosess upward
open order buy with profit target 10 pips.

Sell

When price out above upper band line of Bollinger Bands wait that the price will come back in the band.
When the first candle close in Bollinger Bands if the stochastic oscillator crosess downward
open order sell with profit target 10 pips.

Bollinger Bands Scaping

Initial stop loss 15-20 pips.

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Forex Trading January (updated) Update - forex trading youtube explained

Forex Trading January (updated) Update ~ forex trading youtube explained

What an exciting month of trading it has been! From analysing of the charts to actually firing of my first trades and increasing of my stake at time goes by, it has been nothing short of excitement and feel of the adrenaline rush. But here i am producing my very first
report card of the month.

Closed Transactions:
Open Time	Type	Size	Item	Price Enter	Price Exit	PIPs	Profit
2015.12.22 05:24:14	balance	Deposit Bonus					150.00
2015.12.22 05:24:14	balance	Deposit					500.00
2016.01.04 09:36:33	buy	0.01	eurcadx	1.5182	1.5212	30.0000	0.21
2016.01.04 10:14:18	buy	0.01	eurusdx	1.0928	1.0951	23.0000	0.23
2016.01.05 04:12:14	sell	0.01	euraudx	1.5017	1.4997	20.0000	0.14
2016.01.05 12:08:26	sell	0.01	audusdx	0.7176	0.7170	6.0000	0.06
2016.01.05 12:11:35	sell	0.01	nzdusdx	0.6696	0.6681	15.0000	0.15
2016.01.06 02:44:12	sell	0.01	nzdusdx	0.6694	0.6655	39.0000	0.39
2016.01.06 02:52:36	buy	0.01	audchfx	0.7236	0.7088	-148.0000	-1.46
2016.01.07 06:47:06	sell	0.01	cadchfx	0.7106	0.7079	27.0000	0.27
2016.01.07 06:47:37	sell	0.10	cadchfx	0.7106	0.7079	27.0000	2.70
2016.01.07 08:52:41	sell	0.10	eurchfx	1.0848	1.0870	-22.0000	-2.19
2016.01.08 04:58:42	sell	0.10	gbpaudx	2.0753	2.0707	46.0000	3.25
2016.01.11 03:01:47	buy	0.20	gbpaudx	2.0869	2.0728	-141.0000	-19.83
2016.01.12 02:15:23	sell	0.20	audusdx	0.6987	0.6960	27.0000	5.40
2016.01.12 05:01:00	sell	0.20	gbpjpyx	170.92	170.64	28.0000	4.76
2016.01.12 07:20:41	sell	0.30	usdjpyx	117.47	117.40	7.0000	1.79
2016.01.12 12:16:58	sell	0.25	eurusdx	1.0852	1.0832	20.0000	5.00
2016.01.12 15:00:01	buy	0.02	audchfx	0.7016	0.7087	71.0000	1.41
2016.01.13 10:34:16	buy	0.25	usdchfx	1.0053	1.0079	26.0000	6.45
2016.01.13 12:19:36	buy	0.23	eurchfx	1.0902	1.0920	18.0000	4.10
2016.01.13 14:01:31	sell	0.25	gbpusdx	1.4390	1.4388	2.0000	0.50
2016.01.13 14:55:28	buy	0.25	gbpusdx	1.4413	1.4413	0.0000	0.00
2016.01.13 15:01:02	sell	0.25	eurusdx	1.0815	1.0800	15.0000	3.75
2016.01.13 15:16:09	sell	0.25	eurusdx	1.0816	1.0800	16.0000	4.00
2016.01.13 16:12:30	buy	0.25	eurgbpx	0.7511	0.7523	12.0000	4.32
2016.01.13 16:47:02	sell	0.25	gbpjpyx	170.26	169.99	27.0000	5.73
2016.01.13 19:06:16	sell	0.25	audusdx	0.6992	0.6970	22.0000	5.50
2016.01.14 01:53:16	sell	0.25	eurjpyx	127.77	127.62	15.0000	3.20
2016.01.14 16:05:26	sell	0.30	gbpaudx	2.0693	2.0606	87.0000	18.27
2016.01.15 06:42:28	sell	0.30	audusdx	0.6946	0.6930	16.0000	4.80
2016.01.15 06:42:48	sell	0.30	audjpyx	81.77	81.50	27.0000	6.88
2016.01.15 08:14:28	sell	0.30	gbpjpyx	169.73	169.39	34.0000	8.66
2016.01.19 10:18:00	buy	0.25	usdchfx	1.0071	1.0060	-11.0000	-2.73
2016.01.20 00:30:44	sell	0.21	audjpyx	81.24	80.93	31.0000	5.55
2016.01.20 00:31:16	sell	0.21	audusdx	0.6909	0.6884	25.0000	5.25
2016.01.20 09:37:55	buy	0.25	usdcadx	1.4639	1.4665	26.0000	4.43
2016.01.20 12:25:48	sell	0.21	audjpyx	79.89	79.61	28.0000	5.05
2016.01.20 14:03:28	buy	0.21	usdchfx	1.0033	1.0055	22.0000	4.59
2016.01.21 03:00:59	sell	0.25	euraudx	1.5652	1.5638	14.0000	2.43
2016.01.21 13:10:20	sell	0.25	nzdusdx	0.6422	0.6448	-26.0000	-6.50
2016.01.22 08:07:32	sell	0.25	euraudx	1.5414	1.5384	30.0000	5.28
2016.01.22 13:07:10	buy	0.25	nzdusdx	0.6502	0.6515	13.0000	3.25
2016.01.22 15:14:28	sell	0.25	audjpyx	83.08	82.90	18.0000	3.81
2016.01.22 16:33:50	buy	0.25	eurgbpx	0.7553	0.7556	3.0000	1.07
2016.01.25 02:06:13	buy	0.25	gbpusdx	1.4262	1.4274	12.0000	3.00
2016.01.25 02:17:31	buy	0.05	nzdusdx	0.6475	0.6481	6.0000	0.30
2016.01.25 04:05:56	buy	0.25	audusdx	0.6996	0.7015	19.0000	4.75
2016.01.25 07:41:29	sell	0.25	audusdx	0.7016	0.6999	17.0000	4.25
2016.01.25 07:47:13	sell	0.25	audjpyx	83.29	83.50	-21.0000	-4.42
2016.01.25 11:45:55	sell	0.05	usdcadx	1.4187	1.4185	2.0000	0.07
2016.01.25 12:45:55	buy	0.30	audjpyx	82.74	82.90	16.0000	4.04
2016.01.25 16:06:07	buy	0.30	nzdusdx	0.6473	0.6487	14.0000	4.20
2016.01.25 23:50:44	buy	0.40	audjpyx	82.32	82.34	2.0000	0.68
2016.01.26 00:02:04	buy	0.40	audusdx	0.6955	0.6960	5.0000	2.00
2016.01.26 16:17:41	sell	0.40	nzdusdx	0.6482	0.6481	1.0000	0.40
2016.01.28 01:07:35	sell	0.40	audusdx	0.7023	0.7016	7.0000	2.80
2016.01.28 03:11:59	buy	1.00	nzdusdx	0.6447	0.6444	-3.0000	-3.00
Total PIPS						642.00
Total Value							$128.99

I wouldnt understand what i just posted either.... well the table basically means a summary of all the trades i entered and exited during the month of January 2016. Made a small profit of USD 128.99 with 642 PIPS net gain during the month. I have also identified my favourite currency pairs to be AUDUSD, AUDJPY and NZDUSD. Traded actively on these pairs towards end of the month. 

Moving forward to February i will be working towards trading less transaction but more on quality. As i familiarize myself with the trading methods i will also be updating on the strategies that i use. So stay with me on this journey. Cheers!  

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Eagle Trading System - forex market hours etoro

Eagle Trading System ~ forex market hours etoro

Eagle trading System is a trend following system based on moving averages and ADX (Average Directional Movent Index).

Time Frame 15 min, 30min, 60 min, 240 min.

Markets: Currencu Pairs (majors) and Index.
Indicators:
Exponential Moving Average 16 period, close;
Simple moving average 200, close;
Average Directional Movent Index 14 period close (with level 23).

trading Rules for Eagle Trading System

Buy
16 EMA cross up SMA 200 ;

ADMI is above 23 level.

Sell

16 EMA cross down SMA 200 ;

ADMI is above 23 level.

Profit target 20-40 pips

Stop loss 20-30 pips.

Tips: Eagle trading system is good for intraday trading.

Eagle Trading System

Eagle Trading System

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Indecision Candlestick Pattern Doji - forex market hours sydney

Indecision Candlestick Pattern Doji ~ forex market hours sydney

Doji

Doji is one the most important candlesticks formations. This pattern implies indecision in the market place as buyers and sellers are exterting equal pressure on the markets. In addittion, this pattern shows that there has been a large trading range. But the price does not closeon an upside oe downside bias. A true doji formation has an horizontal line instead of a body, with a long wiks. There are numerous varieties of dojis, with some examples found in Pictures , but they all connote indecision on the part of the market. If the market ia a range trading the doji indicates a neutral market. If the market is a ralling, a doji is a signal that may be losing steam an the price may start to decline from here. If the market is declining, a doji is a signal that the decline may be ending and the market may start to decline from here. Therefore, a doji provides signals of potential market top or bottoms. Hower it is also important to compare the doji to recent price action. If there has been a series of near doji or small candles the doji formations is less significant. A doji formation is significat it is appears after a long green candle in an uptrend or a long red candle in a dow trend. A double doji shows that buyers and sellers are still in equilibrium, wich further indicates that a trend reversal is probably imminent.

Below example of Doji formations:

A simple doji candle, which displays amuted range and a close equal to the open.

A long-legged doji candle, which shows a wide-ranging day with both bulls and bears at a standstill by the end of the period.

Doji Candlestick Pattern Quiz

1.What is the structure of a doji pattern?

• Doji has an horizontal line instead of a body
• Doji has an horizontal line instead of a body, with a short wiks
• Doji has an horizontal line instead of a body, with a long wiks

2. What does the doji pattern?

• Decision in the market place: buyers are more that sellers
• Indecision in the market place: buyers and sellers are exterting equal pressure
• Decision in the market place: sellers are more that buyers

3.When Doji is less significant?

• If there has been a series of near doji and engulfing patterns
• If there has been a series of near doji or long candles
• If there has been a series of near doji or small candles

4. When Doji is more significant?

• Doji appears after a long green/red candle in an trend
• Doji appears before a long green/red candle in an trend
• Doji appears before a harami candle in an trend

Score =

Correct answers:

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1 minute trend momentum scalping strategy - forex trading hours gmt

1 minute trend momentum scalping strategy ~ forex trading hours gmt

1 minute trend momentum scalping strategy is a classic trading system for the trade on the forex market.

Time frame 1 min or 5 min.

Currency pairs (majors)

Trading session (London and New York) do not trades before economic news.
Setup chart with trading indicators:
1. 10 Exponentiation Moving average(EMA) (close) with Green colour
2. Bollinber bands with 20 Deviation 2 period,
3. ParabolicSAR step 0.019 and Max 0.08
4. MACD (12, 26, 9) with default settings
5. Relative strength index(RSI 14 period close with level 50)

Set up the chart and only try to trade the first three hours of any trading session. try it only to EURUSD pair as this strategy will work in better way .

Go Long
1.10 EMA crosses above middle of Bollinger Bands.
2. MACD > 0 zero line.
3. RSI is above> 50 level.
4. Use Parabolic SAR as only visual trend direction aid.(optional).

Go Short

1. 10 EMA crosses above middle of BB.

2. MACD is < 0 zero line.
3. RSI is below <50 level.
4. Use Parabolic SAR as only visual trend direction aid.(optional).
Initial Stop loss 15 pips. Profit target 6-9 pips. After 5 pips in gain move stop loss at breakeven.

        1 minute trend momentum scalping strategy

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Three shorts moving averages crossover - forex market hours europe

Three shorts moving averages crossover ~ forex market hours europe

Three shorts moving averages crossover is an trading systems based on fast exponentials  moving averages are simple and easy for make trading. 
Markets: Currency pair, Indicies. 
Time frame chart: 15 min chart, or higher.
Indicators: 9 EMA, 21 EMA, 50 EMA. 

Trading rules:
Buy
9 EMA goes above 21 EMA and 50 EMA.
Sell
9 EMA goes below 21 EMA and 50 EMA.

Exit position rules:
exit when 9 EMA crosses 21 EMA in opposite direction.
Make profit on the support or resistance line or pivot point.
Place initial stop loss on the previouis swing High/Low.
Advantages: it is simple to use, and it make interesting results in trending market or during big price breakouts .
 Disadvantages: during the sideways market  with little fluctuation of the price this strategy give many false signals.
Solution: find the market in trend following and apply this trading system and trades only in the direction of the trend.
Three shorts moving averages crossover is a classic trading strategy.

Three shorts moving averages crossover

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Why you need a budget - forex trader yang berjaya di malaysia

Why you need a budget ~ forex trader yang berjaya di malaysia

2 weeks have passed since the beginning of 2016. I was looking at my ducky challenge and a small sense of satisfaction came to me when i saw that this challenge was right on track. My wife and i have been putting our initials to the chart everyday when we drop a dollar into ducky.


I then started a casual conversation with my wife about my grand plans of saving and budgeting -
“Hey, did you realise how much we spent just this one afternoon? We should be keeping track of all our expenses so that we......”

“Track everything for what? Whats the point of making our life so difficult? Wanna buy everything also must think so much!”

I guess i should just stick to our ducky challenge for now.

Budgeting is Spending!

That night, i pondered upon this conversation for a while and was thinking, yes indeed, why spending must think so much? Can buy just buy right? I thought i am a happy go lucky person?

But then again, i realise this one point. Yes, we should not be thinking so much about everything in life. YOLO yah (you only live once). And thats the reason why we should budget first before spending. Budgeting is spending freely on the object of your desire without feeling regretful afterwards. Thats what my 6 jars to financial freedom is all about! After all, i do in fact have a play jar where i should empty it every month. 

With Chinese New Year just around the corner, it is absolutely crucial to have a budget to avoid overspending. Wish me luck on this though...its gonna be tough!

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When will petrol prices go down - forex trader yang berjaya

When will petrol prices go down ~ forex trader yang berjaya

When will petrol prices go down?

All the mainstream media has been reporting about how low the oil price is and the number of records this pricing has broken. People around the world are saying it is cheaper to buy

oil than to buy daily common items like pizzas and beers.

"Two large pizzas - cheaper than a barrel of oil. #?????— Ol Brandon (@BrandonLockhart) January 13, 2016To, inevitably, booze. A native Londoner writes:"

"WTI Crude now trading at $29.59 US a barrel, now cheaper than a pair of pants at @Target. #cdnpoli #oilprice pic.twitter.com/AC7nywuMPK
— CTV - Ian White (@CTVIanWhite) January 15, 2016"

A quick check on my forex account indicates that the current oil price to be around USD 29. However, who really cares how much a barrel of oil cost? The most important factor to the guy like me and on the streets is that petrol prices are not going down! Around the same time last year in 2015, a barrel was about USD 70, thats a drop of USD 40. But as compared to petrol prices, not much has changed!

On 13 Jan 2015, the price for 98 octane fuel range was at S$2.24 Shell V-Power (source: http://www.straitstimes.com/singapore/transport/pump-prices-slide-again-hitting-six-year-lows). One year later on the 19th Jan 2016 the price has dropped a staggering 2 cents or 13 cents base on Shells website (source: http://www.shell.com.sg/products-services/on-the-road/fuels/price-board.html  S$2.22 / S$2.109 before / after discount). 

On further research, i realise that the cause of this stagnant situation was due to a tax imposed on petrol prices during Budget 2015. (Source: http://www.todayonline.com/singapore/petrol-duty-rates-be-increased). And just like other taxes and charges imposed to reduce less cars on the road, we cant do anything about it, can we? Remember ERP? COE? So how? Either you switch to public transport or learn and remember to do some of the stuffs below; 

1) Plan your route before you set off. 

Almost everyone i know including myself is guilty of this. Singapore is a small country indeed and to get from point A to point B would probably not take more than an hour. However, without proper planning, we may get stuck in traffic jams. Large amount of petrol is wasted if you get stuck in a traffic jam or if you decide to set off during rush hour. 

2) Stop your engine if you are stationery for 10 minutes.

We should have all heard of this one before, and it makes perfect sense. If you are expecting to wait up to 10 minutes for someone, just switch off the engine. All that air conditioning and car entertainment is drinking up your petrol! But sometime i just wanna enjoy the better things in life.

3) Check your tyre pressures.

This is a simple procedure that take just a few minutes to complete. Different car type require different amount of tyre pressure and instructions can easily be found at the side of your car door. If your car is running on lower than required pressure, it simply means more energy is require to drive the car and more energy equals to more petrol. So make sure to check at least once a month if not more. 

4) Get rid of excess weight!

Like myself, the heavier i weigh, the more energy i require to move. I have friends who carry bowling balls and bowling bags weighing over 20 kg in their cars and for convenience sake, its in the car whether or not there is a bowling game later. Well, you pay the courier guy to send parcels or documents right? In this case, you are paying to deliver those bowling balls to nowhere...but the payment is with petrol.

5) Obey speed limits

It has been rumoured that you would not get caught by the traffic police until you exceed the road speed by by 20 km per hour. Meaning to say it should be ok to travel at 90 km/hr on a 70 km/hr road? In any case, the faster your car goes, the more thirsty it gets. So whether you manage to avoid Mr Traffic Police or arrive at your destination a cool 20 minutes earlier than every one else, you are again...paying it with petrol. 

If you actually reach this point of reading through my 5 points of petrol savings but feels they are either too bothersome or unnecessary to you, i suggest you better find ways to save on your other stuffs here. 

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Hammer candlestick pattern - forex market hours holidays

Hammer candlestick pattern ~ forex market hours holidays

 Hammer candlestick pattern has a small body at the top with a shadow on the bottom. The shadow is at least twice as long as the small body.

Criteria

1. Found at the bottom of a downtrend.

2. The color of the body is not important (however, a blue body is slightly more bullish than a red

body).

3. There should be no upper shadow or a very small upper shadow.

4. The longer the lower shadow the more powerful the reversal signal.

5. The following candle needs to confirm the Hammer signal with a strong bullish move.

Hammer candlestick pattern

Hammer candlestick pattern

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Morning Star candlestick pattern - best forex trading times gmt

Morning Star candlestick pattern ~ best forex trading times gmt

Morning Star candlestick pattern there are many variations of the Morning Star pattern.

Criteria

1. Usually consists of three candles at the bottom of a downtrend.

2. First candle is a red candle.

3. Second candle is an indecision candle. There can be 1, 2, 3, or even 4 indecision candles.

4. Third candle is a blue candle and should close at least half way up the first red candle.

5. The longer the red and blue candles the more forceful the reversal.

6. The more indecision of the indecision candle the better probability that a reversal will occur.

7. The further the third blue candle closes into the first red candle the stronger the reversal.

Morning Star candlestick pattern

Here are some variations of the morning star pattern:

Morning Star candlestick pattern

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Third Candle Trading System - forex trading hours europe

Third Candle Trading System ~ forex trading hours europe

Third Candle trading system is very simple and profitable and you can apply this strategy also with Binary Options.

Time Frame 240 min or higher.

Markets: Forex, Index and commodities.

Indicator:

Exponential moving average 5 period, close. (optional)

Expiry time for binary options high/low 1 candle.

Pattern : two candle with close >open (buy), open<close (sell).

Buy

Find a candle formation above the moving average with open < close.

Place a buy order at opening of the third candle.

For a new setup of buy order wait a candle with open=close or open<close.

Place stop loss below the 2° candle.

Sell

Find a candle formation above the moving average with open > close.

Place a sell order at opening of the third candle.

For a new setup of buy order wait a candle with open=close or open>close.

Place stop loss above the second candle.

Profit target daily time frame 40- 60 pips dependes by currency pairs or markets.

Advantages: Little emotion and a profitability of between 55% and 65%.

Disadvantages the stop loss is almost always greater than the profit. But you can management the position, moved the stop loss at the breakeven after 30 pips in gains.

This trading system was created and posted by Joy22.

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Stochastic Oscillator with trend line - forex market hours easter

Stochastic Oscillator with trend line ~ forex market hours easter

Stochastic oscillar with trend line is a trend momentum trading system. Time Frame any but  4H or daily recommended.
Markets: Currency pairs, Commodities and Indicies.
Indicators: Full Stochastic (14, 3,3, close).
Too:l trend line.
Trading rules Stochastic oscilllator with trend line
Draws on the chart trend line. (find chart in trend this is a basic condition). trades only in direction of the trend.
Buy
Oscillator stochastic reached oversold area below level 20 and after reached level 10 when exit from oversold zone and crosses upward 20 level you make a buy order.
Sell
Oscillator stochastic reached overbought area above level 80 reached 90 level  when exit from overbought zone and crosses downward 80 level put a sell order.
Advantages: With the trend line on the chart to eliminate many of false signals. This strategy is very simple for trading.
Disanvantages: The stochastic indicator can generate many false signals. Tracing a trend line requires experience. How to draw a trend line

Stochastic oscillator with trend line

Stochastic with trend line

How draw a trend line

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5 min Fx Trading - forex market hours indicator download

5 min Fx Trading ~ forex market hours indicator download

5 min Trading is a scalping strategy trend following. This is the main charting set-up we use.

Time frame 5 min with candlestick chart.

Set two Exponential moving averages:

10 EMA and 20 EMA.

When 10 Ema is above 20 EMA we say the market in buy trend.

When 10 Ema is below 20 EMA we say the market in Sell trend.

Set MACD (12, 26, 9),

Ad Pivot tool.

Buy

EMA 10 > EMA 20 (Buy Trend);

MACD going green and MACD signal goion up;

MACD line higher than MACD signal,

Green Candle > 1 pip body length

Must not touch the 10 EMA line and the lovest point of the candle must be at least 1 pip higher 10 EMA line

Candle must make a new high looking 3 candles back.

Sell

EMA 10 < EMA 20 (sell Trend);

MACD going red and MACD signal going down;

MACD line lower than MACD signal,

Red Candle >1 pip body length

Must not touch the 10 EMA line and the highest point of the candle must be at least 1 pip lower 10 EMA line

Candle must make a new low looking 3 candles back.

5 min trading

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20 100 5min scalping momentum strategy - forex market hours gmt.ex4

20 100 5min scalping momentum strategy ~ forex market hours gmt.ex4

5min scalping-momentum strategy is my favorite fx strategy for time frame 5-Minute )

Markets: Currency pairs majors, and Index.
Indicators for this strategy:

1. The 20 EMA (exponential moving average , close);
2. The 100 SMA simple moving average, close) ;
3. MACD. Default setting (12, 26, 9).

Trading Rules

Long entry
1. The currency pair is trading below both the 20 EMA and the 100 SMA.
2. Wait for the price to crossess upward above both moving averages by 15 pips, and
3. The MACD is > 0 no longer than 5 candles ago.
4. Buy at market.
Short entry

1. The currency pair is trading above both the 20 EMA and the 100 SMA.

2. Wait for the price to crosses downward below both moving averages by 15 pips, and

3.The MACD is < 0 no longer than 5 candles ago.

4. Sell at market.

Exit position

Place your initial stop at the previous swing low/high.
After 18 pips in gain move your stop to breakeven.

Use the trailing stop with 15 pips.

20-100 5 min scalping momentum strategy

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Intraday Trading tips - forex market hours monitor download

Intraday Trading tips ~ forex market hours monitor download

Trade with the trend, and look at the M15 and higher charts for trend direction. Know what the trends are doing on the H1 and H4. Never trade against the trend of the M15. The exception is to scalp quickly with the retracement s of the M15 using the M1 and M5.

1. If you prefer to trade using the smaller time frames (M1, M5), trade with the overall trend. These are micro trends. If you are a scalper, grab a few pips and close trades fast.

2. Use the human eye to detect trend changes in the smaller time frames before taking trades on the longer time frames. For example, if you trade the 15 minute chart, look at the 5 minute chart to see if the trend is strong or changing. If you trade the H1 or H4 charts, for example, look at the M5 or M15 prior to entering the trade to see any possible trend changes.

3. Repeat to yourself about the trend: “The winner keeps winning and the loser keeps losing.” Trade with the trend.

4. Look at the time prior to entering a trade. For example, if it is 9:25 p.m., it may be wise to wait until 9:30 or 9:35 to see if the trend changes. If you trade during the day, retracements usually occur a few minutes after 10 a.m., 1 p.m., 2 p.m., 3:00 p.m. The ‘7’ rule. Notice at 1:07 p.m., 2:07 p.m. what we are referring to. This ‘7’ is our observation and not a fact. And retracements/reversals often occur around the :45, :00, :30 and :15.

5. The market is quiet from 4 p.m. until around 7 p.m. This quiet time is not a good time to trade since the market is choppy. Wait until 7 p.m. The trend usually retraces a few minutes after 7 p.m. Be careful...the market usually turns back into the day’s main direction after the retracement. The trend then usually reverses in the opposite direction, which means the day’s ‘winner’ becomes th ‘loser.’

6. Do not be greedy. Take profits and be grateful. Do not overtrade.

7. Always use a stop loss. If you are a quick scalper after a few pips, it is too fast to input a stop loss, so keep your hand on your mouse and close your trades fast.

8. Trade using only 3%-5% of your equity.

9. Do not trade if you are emotional or have any drama since these issues may interfere with your decision making. Do not trade when you are tired, sleepy, hungry, upset, angry, or not feeling well. Pay attention while trading. Phone calls, texting, children, dogs barking, and other distractions interfere with thinking.

10. Not every day is a trading day. If you trade the Asian session in the evenings sometimes it is volatile and choppy. In this case, it may be best to trade the longer time frames using Forex Trend Dominator alerts option. Enjoy your dinner, spend time with your family, and relax.

11. Be patient and focus. Sometimes you must wait for a safe entry.

12. Trade during the session(s) that suits your personality or lifestyle. For example, if trading during the early New York session does not suit your personality, you may prefer to trade the Asian Session (8 p.m. EST) or London Session (3 a.m EST).

13. Know the times of news releases. http://www.forexfactory.com/calendar.php

14. Print the news calendar or jot down the times on a writing pad or notebook. Set the alarm on your cell phone as a reminder.

Intraday Trading Tips

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Trading and Raising up a toddler - forex trading yen

Trading and Raising up a toddler ~ forex trading yen

I was at the playground the other day with Chloe and while watching her up on the slide area, this thought came to my mind. Trading in the forex or equities market is actually the same as raising up a child!

Here is why
i think so;

1) You never know if she is going to slide down or climb up!

I was at the bottom end of the slide waiting for her to slide down and making sure she does not fall. All indications point to her making that move down. But in a split second, she changes her mind and decides to climb the steps to another section of the playground! How irrational is that?

In Forex trading, there are many indicators that i follow before making a trade. However, there are cases where even when all indicators point to one direction when i enter a trade, it could go a complete different way the very next moment!

2) You need to watch her all the time!

Ok, maybe not really All the time, but watch her you must. There is always a chance she might slip and fall, knock onto something, put things inside her mouth and a whole list of other stuffs.

In Forex trading, you can watch your price all the time or in different time frames like 1 minute, 1 hour etc. But you really need to watch it as the price can go up and down without any reason even if its just 1 minute and you could end up in a losing trade.

3) Your emotions go up and down with her!

When your child is naughty, you get angry with her. When she laughs or smile at you, you are the happiest person in the world. When she is sick or knocks onto the table and cries, your heart feels like breaking as well.

In Forex trading, (we talk about money management some other time) if you enter the trade with the trend and the trend goes according to your direction, you will be most happy as you are making a profit and a whole lot of feel good factor. However if against all calculations, the trade you enter goes in the opposite direction, you will feel awful....

4) You read up on everything about her

How to raise a healthy child?, Why do toddler behave like they do? Every time you see some article are report relating to babies or toddlers, you tend to pick it up and try to understand as much as you can. If anyone starts a conversation about children, you would share your thoughts or worries no matter how introvert you are. Its like a magnetic topic, a natural ice breaker! You are interested in everything baby!

In Forex trading, there are a 101 ways to spot trends and trade, you wish you know them all. You want to have the best indicator, you want to make that winning trade, you are interesting in everything forex.

5) You need discipline with her

Children like to test water. They like to test the limit on the things they are allowed to do. If you allow them to do wrong the first time, they will try to do one step better worse the next time. Therefore it is up to you to discipline them.

In Forex trading, a lot of discipline in terms of money management is required. If you set out to take 20 pips profit each time, you might be tempted to take 30 pips the next time which could be disastrous. Therefore again, it is up to you to determine your own money management so that you would not burst your account.


Do you still think forex is risky? Check out my forex trading here!
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Reversal candlestick pattern the Harami - forex market hours pst

Reversal candlestick pattern the Harami ~ forex market hours pst

The Harami pattern is a reversal pattern that signals an exausting dowtrend or a rally that is losoing steam. The Harami candlestick formation is comprised the first candle has a long body while the second candle has a smaller body that is within the first candle. Tipically the smaller of the second candle the stronger the price reversal signal. The smaller the wicks of the second candle the more accurate the signal. If the second candle hovers near the top of the first candle during an up trend this indicates that there is a higher probability for consolidation than a reversal. The same is true in a downtrend, wihch is if the second candle hovers nears the bottom of the first candle, it indicates a higher probability for consolidation as opposed to a reversal.

In Picture we see a bearish Harami reversal where a large white candle is followed by a small dark one. the Harami is a good example of an “inside” day where the price action of today is completely inside the price range of the prior day.  

Candlestick Harami pattern

Harami pattern quiz

Harami Candlestic Pattern Quiz

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Candlestick Basic - forex 4 hour trading system

Candlestick Basic ~ forex 4 hour trading system

How is a candlestick constructed? The basic parameters of the candlestick include a body circumscribed by the open and the close and two wicks or shadows that demarcate the high and the low. If the close is lower than the open, then the candle is dark or bearish (see Picture 1). If the open is higher than the close, then the candle is white or bullish (see Picture 2).

There are numerous candlestick formations, but all of them essentially fall into three categories:

1. Breakout patterns

2. Indecision patterns

3. Reversal patterns

Bearish Candle

Bullish Candle

What is the differences between bar chart and candlestick chart?

Both the bar chart and the candlestick chart contain exactly the same information, only its presented to the trader in different form. Both the bar chart and the candle chart contain the same data: the high for the period (the day), the low, the open and the close. In a candlestick chart, however, the names are changed. The difference between the open and the close is called the real

body. The amount the stock went higher beyond the real body is called the upper shadow. The amount it went lower is called the lower shadow. If the candle is clear or white it means the

opening was lower than the high and the stock went up. If the candle is colored then the stock went down. This information is shown below in picture 3:

Differences between bar chart and candlestick chart

What is the meaning of candlesticks patterns?

Japanese candlesticks offer a quick picture into the psychology of short-term trading, studying the effect, not the cause. This places candlesticks squarely into the category of technical analysis. One cannot ignore the fact that prices are influenced by investors psychologically driven emotions of fear, greed, and hope. The overall psychology of the marketplace cannot be measured by statistics; some form of technical analysis must be used to analyze the changes in these psychological factors. Japanese candlesticks read the changes in the makeup of investors interpretations of value. This is then reflected in price movement. More than just a method of pattern recognition, candlesticks show the interaction between buyers and sellers. Japanese candlestick charting provides insight into the financial markets that is not readily available with other charting methods. It works well with either stocks or commodities.

What are the advantages of candlesticks chart how tool for trading in the financial markests?

There are three major advantages of candlestick charts |when compared to to bar charts.

First - Candlestick charts are much more "visually immediate" than bar charts. Once you get used to the candle chart, it is much simpler to see what has happened for a specific time frame be it a day, a montlhy or 30 minutes. With a bar chart you require to mentally fill in the price action. You need to say to yourself, "The left tick says thats where it opened, the right tick where it closed. Now I see. It was an up day." With a candlestick chart it is done for you. You can spend your energy on analysis, not figuring out what happened with the price.

Second - With candles you can spot trends more quickly by looking for whether the candles are clear or colored. Within a period of trend, you can easily tell what a stock did in a specific period. The candle makes it easier to spot "large range" days. A large candlestick suggests something "dramatic" happened on that trading day. A small range day suggests there may be relative consensus on the share price. When I spot a large range day, I check the volume for that day as well. Was volume unusual? Was it say 50% higher than normal? If so, it is very likely that the large range day may set the tone for many days afterward.

Third -Most important, candles are vital for spotting reversals. These reversals are usually short term precisely the kind the trader is looking for. When traditional technical analysis talks about reversals, usually it is referring to formations that occur over long periods of time. Typical reversal patterns are the double top and head and shoulders. By definition, these involve smart money distributing their shares to naive traders and normally occur over weeks or even months. Candlesticks, however, are able to accurately pick up on the changes in trend which occur at the end of each short termswing in the market. If you pay meticulous attention to them, they often warn you of impending changes.

Candlesticks is most powerful when the markets are at an extreme, that is when they are overbought or oversold. I define overbought as a market which has gone up too far too fast. Most of the buyers are in and the sellers are eager to nail down profits.

An oversold market, on the other hand, is one in which the sellers have been in control for several days or weeks. Prices have gone down too far too fast. Most of the traders who want to sell have done so and there are bargains -- at least in the short term -- to be had. But these issues will be discussed in the advanced tutorials.

Candlestick Basic Quiz

1.What is the body of the candle?

• Part of the candle circumscribed by high and low
• High and low
• Part of the candle circumscribed by open and close and the two wicks

2. What is the differences between bar chart and candlestick chart?

• Candlestick chart is only for forex
• They contain the same information but in different form
• They do not contain the same information

3. What is the meaning of candlesticks patterns?

• Candlesticks offer a quick picture into the psychology of short-term trading
• Candlesticks offer a quick picture into the psychology of long-term trading
• Candlestick chart are a tool for interpreting the cycles

4.How is a bearish candle?

• Open is higher than the closer
• Open is lower than the closer
• Close is lower than the open

Score =

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