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Kamis, 19 Mei 2016

Whats wrong with Chinese New Year - forex trading yogyakarta

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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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Minggu, 15 Mei 2016

Understanding Forex Trading - forex trader youtube

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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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Minggu, 08 Mei 2016

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

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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 TimeTypeSizeItemPrice EnterPrice ExitPIPsProfit
2015.12.22 05:24:14balanceDeposit Bonus150.00
2015.12.22 05:24:14balanceDeposit 500.00
2016.01.04 09:36:33buy0.01eurcadx1.51821.521230.00000.21
2016.01.04 10:14:18buy0.01eurusdx1.09281.095123.00000.23
2016.01.05 04:12:14sell0.01euraudx1.50171.499720.00000.14
2016.01.05 12:08:26sell0.01audusdx0.71760.71706.00000.06
2016.01.05 12:11:35sell0.01nzdusdx0.66960.668115.00000.15
2016.01.06 02:44:12sell0.01nzdusdx0.66940.665539.00000.39
2016.01.06 02:52:36buy0.01audchfx0.72360.7088-148.0000-1.46
2016.01.07 06:47:06sell0.01cadchfx0.71060.707927.00000.27
2016.01.07 06:47:37sell0.10cadchfx0.71060.707927.00002.70
2016.01.07 08:52:41sell0.10eurchfx1.08481.0870-22.0000-2.19
2016.01.08 04:58:42sell0.10gbpaudx2.07532.070746.00003.25
2016.01.11 03:01:47buy0.20gbpaudx2.08692.0728-141.0000-19.83
2016.01.12 02:15:23sell0.20audusdx0.69870.696027.00005.40
2016.01.12 05:01:00sell0.20gbpjpyx170.92170.6428.00004.76
2016.01.12 07:20:41sell0.30usdjpyx117.47117.407.00001.79
2016.01.12 12:16:58sell0.25eurusdx1.08521.083220.00005.00
2016.01.12 15:00:01buy0.02audchfx0.70160.708771.00001.41
2016.01.13 10:34:16buy0.25usdchfx1.00531.007926.00006.45
2016.01.13 12:19:36buy0.23eurchfx1.09021.092018.00004.10
2016.01.13 14:01:31sell0.25gbpusdx1.43901.43882.00000.50
2016.01.13 14:55:28buy0.25gbpusdx1.44131.44130.00000.00
2016.01.13 15:01:02sell0.25eurusdx1.08151.080015.00003.75
2016.01.13 15:16:09sell0.25eurusdx1.08161.080016.00004.00
2016.01.13 16:12:30buy0.25eurgbpx0.75110.752312.00004.32
2016.01.13 16:47:02sell0.25gbpjpyx170.26169.9927.00005.73
2016.01.13 19:06:16sell0.25audusdx0.69920.697022.00005.50
2016.01.14 01:53:16sell0.25eurjpyx127.77127.6215.00003.20
2016.01.14 16:05:26sell0.30gbpaudx2.06932.060687.000018.27
2016.01.15 06:42:28sell0.30audusdx0.69460.693016.00004.80
2016.01.15 06:42:48sell0.30audjpyx81.7781.5027.00006.88
2016.01.15 08:14:28sell0.30gbpjpyx169.73169.3934.00008.66
2016.01.19 10:18:00buy0.25usdchfx1.00711.0060-11.0000-2.73
2016.01.20 00:30:44sell0.21audjpyx81.2480.9331.00005.55
2016.01.20 00:31:16sell0.21audusdx0.69090.688425.00005.25
2016.01.20 09:37:55buy0.25usdcadx1.46391.466526.00004.43
2016.01.20 12:25:48sell0.21audjpyx79.8979.6128.00005.05
2016.01.20 14:03:28buy0.21usdchfx1.00331.005522.00004.59
2016.01.21 03:00:59sell0.25euraudx1.56521.563814.00002.43
2016.01.21 13:10:20sell0.25nzdusdx0.64220.6448-26.0000-6.50
2016.01.22 08:07:32sell0.25euraudx1.54141.538430.00005.28
2016.01.22 13:07:10buy0.25nzdusdx0.65020.651513.00003.25
2016.01.22 15:14:28sell0.25audjpyx83.0882.9018.00003.81
2016.01.22 16:33:50buy0.25eurgbpx0.75530.75563.00001.07
2016.01.25 02:06:13buy0.25gbpusdx1.42621.427412.00003.00
2016.01.25 02:17:31buy0.05nzdusdx0.64750.64816.00000.30
2016.01.25 04:05:56buy0.25audusdx0.69960.701519.00004.75
2016.01.25 07:41:29sell0.25audusdx0.70160.699917.00004.25
2016.01.25 07:47:13sell0.25audjpyx83.2983.50-21.0000-4.42
2016.01.25 11:45:55sell0.05usdcadx1.41871.41852.00000.07
2016.01.25 12:45:55buy0.30audjpyx82.7482.9016.00004.04
2016.01.25 16:06:07buy0.30nzdusdx0.64730.648714.00004.20
2016.01.25 23:50:44buy0.40audjpyx82.3282.342.00000.68
2016.01.26 00:02:04buy0.40audusdx0.69550.69605.00002.00
2016.01.26 16:17:41sell0.40nzdusdx0.64820.64811.00000.40
2016.01.28 01:07:35sell0.40audusdx0.70230.70167.00002.80
2016.01.28 03:11:59buy1.00nzdusdx0.64470.6444-3.0000-3.00
Total PIPS642.00
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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Minggu, 24 April 2016

Morning Star candlestick pattern - best forex trading times gmt

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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
Morning Star candlestick pattern
















Here are some variations of the morning star pattern:
Morning Star candlestick pattern
Morning Star candlestick pattern




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Kamis, 07 April 2016

Trading and Raising up a toddler - forex trading yen

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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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Rabu, 23 Maret 2016

Monthly Savings Expenses Jan (updated) - forex trading yakuza 4

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Monthly Savings Expenses Jan (updated) ~ forex trading yakuza 4


Monthly Expenses Jan 2016



























Its the 2nd month of my aggressive savings
grand plan! Lets see how i did for this month.



House - $363.80 (26%)
01/01/2016 House -200 Bills
01/01/2016 House -10.9 Shampoo
12/01/2016 House -20 Daiso
15/01/2016 House -20.4 Ntuc
22/01/2016 House -60 Ntuc
24/01/2016 House -20 Guardian
25/01/2016 House -18 Ntuc
28/01/2016 House -14.5 Expensive chips
Pretty much every dollar spent on everything and every trip to the supermarket goes into this account. A funny misunderstanding between me and my wife broke out regarding the expensive bag of chips. After paying for it, i casually asked, "Whats so great about this that it cost so much? Is it really that good for baby?" My wife replied that its not for baby! Its just some chips that she bought for us to try out! What! I was all the while thinking that it was some nutritious stuff for Chloe. Arrghh thats me paying without knowing again.....ok where is the bag of expensive chips now?

Baby - $269.35 (19%)
01/01/2016 Baby -38.00 Chloe see doctor
01/01/2016 Baby -8.00 Baby wipes
02/01/2016 Baby -15.00 Dutch lady milk 110mL x 12 x 4packets
16/01/2016 Baby -24.00 Breastpads 3x8dollars
16/01/2016 Baby -21.00 Apple melts 3x7 dollars
18/01/2016 Baby -100.00 Ingredients for baby porridge
22/01/2016 Baby -15.00 Dutch lady milk 110mL x 12 x 4packets
24/01/2016 Baby -9.90 Drynights 34pc pack
24/01/2016 Baby -2.00 Diaper wetwipes
24/01/2016 Baby -10.20 Lacteol forte for diarrhoea
25/01/2016 Baby -26.25 Drynights 34pc pack 3x 8.75
I am trying to work out a better way to update this section as it is increasingly difficult to ascertain what items are directly associated with baby costs as she eats the same stuff as us, uses the same stuffs as us. Its complicated. 

Eating Out - $238.17 (17%), Entertainment - $31 (2%)

The number 1 enemy for savings, i can throw out all my money saving plans if i dont work on reducing this enemy.  

Food - $209.45 (15%)

Its amazing how i spend less on food than other stuffs. Its probably due to the low cost of food at my work place. Interestingly, looking at my eating out costs, it can support me for an entire month if i dont eat out. 

Gifts - $94 (7%)
Presents for Claras 1st birthday and Ah Lans 4th birthday. Had a great time at both celebrations.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~



Monthly Savings Jan 2016


































52 Weeks Increasing Money Challenge
15/01/2016 Savings  $    26.50 52 weeks
22/01/2016 Savings  $    26.50 52 weeks
29/01/2016 Savings  $    26.50 52 weeks
01/01/2016 Savings  $    26.50 52weeks 
08/01/2016 Savings  $    26.50 52weeks 
Ever since i place this in auto transfer mode, i have no worries about the amount i have to put in as it will always point towards my goal of $1378 at the end of the year. 


Balance Transfer
04/01/2016 Savings 1.54 Balance transfer ocbc
08/01/2016 Savings 0.80 Balance transfer ocbc
18/01/2016 Savings 9.54 Balance transfer ocbc
04/01/2016 Savings 8.40 Balance transfer uob
18/01/2016 Savings 2.02 Balance transfer uob
25/01/2016 Savings 0.50 Bank transfer ocbc 
25/01/2016 Savings 5.25 Bank transfer uob
04/01/2016 Savings 0.01 Interest received
31/01/2016 Savings 0.02 Interest received
The power of 1 + 1 really works here! A little here and there adds up to $28.08 saved! 

Bills - Bank charge
31/01/2016 Bills -2.00 Bank charge
Bank charges of $2 charged for the fall below $500 amount deposited. Feb will surely see my deposit balance soar over $500 so this is definitely the last time i am seeing this. 

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Shooting Star candlestick pattern - forex trading session times gmt

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Shooting Star candlestick pattern ~ forex trading session times gmt


Shooting Star Candlestick patterncriteria
1. Found at the top of an uptrend.
2. It has a small body with an upper shadow. The upper shadow is at least twice as tall as the body.
3. The color of the body is not important (a red body is slightly more bearish than a blue body).
4. There should be no lower shadow or a very small lower shadow.
5. The following candle should be strongly bearish to confirm the reversal.
6. The longer the upper shadow the higher potential for a reversal to occur.
Shooting Star candlestick pattern
Shooting Star candlestick pattern
Shooting Star candlestick pattern
Shooting Star candlestick pattern


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