PERFORMANCE JULY 2008

As of writing I have closed all position and I may not trade again for this month. Tomorrow morning I will be going to Tawau by road. It will take 8 hours of driving and will be in Tawau till the end of the month.

I hope all of you had a good month of trading this month. My system generated a total of 17 signal this month with accuracy of over 90%. Attached is my statement for this month. Feel free to study it.

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DAILY FOREX RECOMMENDATION

Tuesday, 12 August 2008 - 6:00 AM GMT
EUR/USD
Trading range: 1.4905 - 1.4810
Trend: Downward
Sell at 1.4891 SL 1.4923 TP 1.4824

USD/JPY
Trading range: 109.75 - 110.60
Trend: Upward
Buy at 109.86 SL 109.54 TP 110.48

GBP/USD
Trading range: 1.9065 - 1.8965
Trend: Downward
Sell at 1.9054 SL 1.9086 TP 1.8976

USD/CHF
Trading range: 1.0870 - 1.0965
Trend: Upward
Buy at 1.0881 SL 1.0849 TP 1.0955

by iForex Daily Forecast

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Back To Trading

Its been a week. I can barely trade coz Celcom 3G Internet is slow as hell. Now I am back home so time for some serious trading.

The last 2 signal of GbpChf and EurGbp has given some profit. Its time to exit untill a new signal is generated. This is because in long term trend is the opposite of the signal Ive given.

I will post signal next week when the market open to avoid holding -ve post due to trend continuation. See you next week

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Introduction to Broker Dealer Regulation Canada

FX Clearing Group Inc. (Ontario Corp) was registered in the Ministry of Government Services (formerly Ministry of Consumer and Business Services) on Sep. 15, 2006. Registration #1710457. In accordance with the law we report to FinTRAC, a Canadian government anti-money laundering organization.

As a Forex Dealer, FX|Clearing is required by law to collect from individuals personal information such as: name, date of birth, addresses, occupation, and a copy of federal documents. Personal information supplied to FX|Clearing is confidential and FX|Clearing will not sell or in any way distribute such information provided to FXClearing to any third parties unless authorized to do so by the individual or as required by the Financial Transactions and Reports Analysis Centre of Canada (“FinTRAC”) or other applicable regulations.

FX|Clearing is also required by law to be sensitive to “suspicious activities” and “suspicious transactions” which activities and transactions FX|Clearing must report to FinTRAC and FX|Clearing must be sensitive to terrorist activities of individuals, entities, and countries identified by the United Nations and other national and international agencies.

For more information about introduction to broker dealer you can visit my other posted about introduction to broker dealer or you can contact me as legal introduction broker

DAILY FOREX RECOMMENDATION

Tuesday, 12 August 2008 - 6:00 AM GMT
EUR/USD
Trading range: 1.4905 - 1.4810
Trend: Downward
Sell at 1.4891 SL 1.4923 TP 1.4824

USD/JPY
Trading range: 109.75 - 110.60
Trend: Upward
Buy at 109.86 SL 109.54 TP 110.48

GBP/USD
Trading range: 1.9065 - 1.8965
Trend: Downward
Sell at 1.9054 SL 1.9086 TP 1.8976

USD/CHF
Trading range: 1.0870 - 1.0965
Trend: Upward
Buy at 1.0881 SL 1.0849 TP 1.0955

by iForex Daily Forecast

clearing broker dealer fact

BACK TO BASIC - THE TALE OF CANDLESTICK

Candlestick is a method of reading the market based on pattern. If you search the net which I suggest you do, you will find a lot article on candlestick pattern. Do your reading to understand it and what happen to the price that forces a certain pattern to the candlestick. What type of pattern you need to remember and how to use it. I personally only remember 3 types of pattern. They are doji, hammer and engulfing pattern.

What I am going to tell you today is a different story about candlestick. A different way how to view them and how to use them. It may not be 100% accurate but it is enough to make profit and stay profitable in the long run.

Apart from 3 candlestick pattern which I remember, I see candlestick as a momentum indicator. Would it be nice if you can have 2 strategy from a single indicator? Like me I use 4 indicator and when they combine I have 8 strategy combined into 1. Candlestick, Moving Average, RSI and Stochastic all put on top of gridlines.

A DIFFERENT VIEW

Imagine that the price is an invisible, self propelling arrow. You cannot see it and surely you dont know where its going but when it moves, it leaves trails in the form of candlestick. If the arrow is moving too fast, we will see long candlestick. The arrow itself has momentum once it moved, so it will take time to slow down and turn. In short, a long CS indicates the arrow is moving very fast and will not turn soon but because forex is influences by many things we see the arrow just turn at certain point leaving CS pointing up or down here and there. Those CS that points up or down is a clue to where the arrow is going.

ALL TALK NO ACTION IS BORING

Now lets see some example, refer the last NzdUsd Hourly charts that I posted on Trade of The Day. Look at the drop when NU breaks the red line. Long candlestick pointing down. Meaning it is at full speed and will not stop. At the 1st correction, we can see that the lowest CS is a bull CS but because the bull CS is shorter than the previous CS, it dont have enough force to stop the arrow instead it only slowed it down. Then we can see all the next correction has bear CS pointing down including the last low CS is a bear meaning price will break the last low but it is slowing down. At this point, it is a very good idea to exit for us technical small fish else we may get fried during price swing.

According to NU charts, I forecast that NU will break the last low of 0.7834 and will make it way to 0.7800. This is because turing point usually happens at big numbers as the last turning point happens at 0.8100. My theory on this behaviour is that master traders that have lots of money are so busy counting money, they dont bother looking at price with small number at the back. So they focus on big numbers such as 0.8100, 0.7800 or the least 0.7850. Those 2 digit at the back is what we small fish are eating but they take the 1st 3 digit. How small and insignificant are we??

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MARKET REVIEW 21 JULY 2008

Its Monday again with Forex entering super slow motion. Last week position of UJ has been closed with 280 pips profit. Position of GU, EU, AU is still holding.

This week I will be looking to short Jpy pairs with no.1 choice of Gbp/Jpy. GJ is expected to reach last week high again and thats is where entry point begins. As of now I would short GJ @ 213.50 or better. Meaning you dont have to enter at the exact point, just watch the strength and enter when market is turning.

I will post signal later for confirmation. In the mean time go do something else. Its monday, no forex magic happens on monday.

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