I will be travelling to UK and Europe for the next 16 days. The trip will cover 18 cities in UK & Europe, namely: London, Glasgow, Edinburgh, New Castle Upon Tyne, York Minster, Leeds, Manchester, Liverpool, Birmingham, Warwick, Bristol, Cambridge, Amsterdam, Barcelona, Madrid, Dublin and Oslo.
While travelling, I won't miss out trading Forex Market. In fact, I find more relaxing and make more money while travelling by using swing and hedge methods. Well, I will bring along my iphone to view market information if I need to. My laptop is used for execute trade. Basically I trade FX based on TA, I already set out a plan for the whole weeks for the entry and exit points. The good part about this methods is you set your mind free from all the 'noise'.. Anyway, it also have the negative side if the market drastically change which you may lose a winning position.
Based on my past experience, I tend to make more money while travelling which prove my trading style is more stick to swing strategy. One of the problem I face while travelling is finding high speed internet connection. To encounter the problem, I have to make sure all the hotels I stay come with high speed internet connection. I plan to buy a local sim card for internet connection which they called " Pay As You Go" a.k.a "Prepaid" in Malaysia.I hope this "Amazing Race" trip will bring a fruitful result for my FX account.
Friday, November 13, 2009
Sunday, November 8, 2009
Don't trust Financial Media.
Financial media as I view it as a tool for the big boys to create fear and greed for novice investors. 2 western famous financial media are CNBC and Bloomberg. I prefer Bloomberg than CNBC even both of them deceive novice investors mindset.
I never say the financial media are lying, but I urge you don't trust them by the time news are being released out. It broadcasts the late news which is too late for you to make the move in the market. Sometimes if you are lucky, you can make some money as the news released. During this time, the big boys will take profit as much as possible. Once they finished, either they will push up or pull down the market, it depends on the situation. They will use news to attract victims come in once they already make the big move, they will slwoly help to push up/pull down to prove their views.
When big boys crash with big boys, the market will be very volatile within a range. If you have time to monitor it 24 hours. This is the best time to make money by applying 'scapling' methods. Big boys can move the market if the market is less volatile too. I personally experienced it 2 weeks ago and saw the big movement of EUR/USD within 4 hours. It normally happened when they have are obliged to FX Options.(A derivative that predicted by real guru that will cause another financial meltdown.)
In the end of the day, if you don't have source to get the real breaking news, please switch off your TV if you want to trade FX for long.
I never say the financial media are lying, but I urge you don't trust them by the time news are being released out. It broadcasts the late news which is too late for you to make the move in the market. Sometimes if you are lucky, you can make some money as the news released. During this time, the big boys will take profit as much as possible. Once they finished, either they will push up or pull down the market, it depends on the situation. They will use news to attract victims come in once they already make the big move, they will slwoly help to push up/pull down to prove their views.
When big boys crash with big boys, the market will be very volatile within a range. If you have time to monitor it 24 hours. This is the best time to make money by applying 'scapling' methods. Big boys can move the market if the market is less volatile too. I personally experienced it 2 weeks ago and saw the big movement of EUR/USD within 4 hours. It normally happened when they have are obliged to FX Options.(A derivative that predicted by real guru that will cause another financial meltdown.)
In the end of the day, if you don't have source to get the real breaking news, please switch off your TV if you want to trade FX for long.
Wednesday, November 4, 2009
Fundamental=Fun-d-mental
"Buy at bottom, sell at top..." The games which Big Boys always play, most of them will use media to attract victims before start the big moves. (If you follow the news pop up from TV, and buy/sell...chances for you to make money is very little.)
Back to fundamental, USD Index is rebound, all kind of news is giving an impression USD is coming back. Some predict it is just a short term consolidation and USD still remain weak.
Market is all about participants perception, no doubt economic of each country is the most important element that determine the perception. Interest Rate, GDP, Consumer confidence, Trade deficit, Employment Rate...you name it.... All this will create perception for the fundamentalist to make their move in FX market. The so-called self-reinforcing process will create trend up, down, up again...down again and the pattern will continue. It range from 1 minute to more than 1 decade long if you look at the chart.
Back to the topic again, US economic no doubt is improving even a lot of noise to distract novice investors. Most of the indicators are showing sign of recovery. Is the recovery bring back the strong dollar? You will be surprised to see stock market is going up, USD is heading south. Why? the so called "risk aversion" and "risk appetite" explain it all.
Ok, I don't like fundamental a lot but start looking at it since the account is getting bigger and long term trading is in my mind. Fun-d-mental=Making your mental think funny..
I take a pair for your review. I like this pair a lot since it is easy to understand; USD/JPY. Let look at Japan , it is an export based economy. What is the implication of stronger yen to Japan economy? Bad..very bad. The strong yen will make the export more expensive. It will destroyed the corporate earning if yen become stronger and this will affect the overall economy. Furthermore, BOJ maintain almost 0% interest rate. Does this encourage the carry trade? Yes, but the other way round. Big Boys will borrow yen and invest in high yield currency such as Aussie. This explains why the AUD went up for the last 6-9 months. Okay, I guess this simple explanation will give you a clue when to buy or sell yen. Of course there are other elements invovled.
In the end of the day, if you are a long term speculator in FX, fundamental is a very important element for you to understand beside TA.
Back to fundamental, USD Index is rebound, all kind of news is giving an impression USD is coming back. Some predict it is just a short term consolidation and USD still remain weak.
Market is all about participants perception, no doubt economic of each country is the most important element that determine the perception. Interest Rate, GDP, Consumer confidence, Trade deficit, Employment Rate...you name it.... All this will create perception for the fundamentalist to make their move in FX market. The so-called self-reinforcing process will create trend up, down, up again...down again and the pattern will continue. It range from 1 minute to more than 1 decade long if you look at the chart.
Back to the topic again, US economic no doubt is improving even a lot of noise to distract novice investors. Most of the indicators are showing sign of recovery. Is the recovery bring back the strong dollar? You will be surprised to see stock market is going up, USD is heading south. Why? the so called "risk aversion" and "risk appetite" explain it all.
Ok, I don't like fundamental a lot but start looking at it since the account is getting bigger and long term trading is in my mind. Fun-d-mental=Making your mental think funny..
I take a pair for your review. I like this pair a lot since it is easy to understand; USD/JPY. Let look at Japan , it is an export based economy. What is the implication of stronger yen to Japan economy? Bad..very bad. The strong yen will make the export more expensive. It will destroyed the corporate earning if yen become stronger and this will affect the overall economy. Furthermore, BOJ maintain almost 0% interest rate. Does this encourage the carry trade? Yes, but the other way round. Big Boys will borrow yen and invest in high yield currency such as Aussie. This explains why the AUD went up for the last 6-9 months. Okay, I guess this simple explanation will give you a clue when to buy or sell yen. Of course there are other elements invovled.
In the end of the day, if you are a long term speculator in FX, fundamental is a very important element for you to understand beside TA.
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