10 December Trading

It a bad day. I lost 10% today. A valuable lesson: Don’t trade when it is in consolidation. It’s just like gambling. So here’s the current strategy:

• Make a rule when to buy and sell. Enter position when the candle direction is the same like the trend. And it is in early stage of the trend or a reversal of a pullback. Don’t buy if it has the same direction like the trend, but it has moves a lot, because it often have pullback.
• Follow trend which is made by MA 8 and MA 14. So it the trend is going down don’t buy.
• Avoid news announcement
• Proper stop and loss. SL 5, TP 12
• Write trade log
• Avoid long tail candle and consolidation, shown by oftenly MA cross over.

8 December trading

Today’s news: The yen may extend its advance versus all of its major counterparts after a reduction in Greece’s debt rating by Fitch Ratings and a Dubai developer’s $3.65 billion loss discouraged demand for riskier assets.

Currently, today’s profit is 30%. Remember my rule:

• Make a rule when to buy and sell. MA cross over and W and M rule.
• Follow trend
• Avoid news announcement
• Proper stop and loss
• Write trade log

Here’s the implementation

• Make a rule when to buy and sell. Enter position when the candle direction is the same like the trend. And it is in early stage of the trend. Don’t buy if it has the same direction like the trend, but it has moves a lot, because it often have pullback.

• Follow trend which is made by MA 8 and MA 14. So it the trend is going down don’t buy.
• Avoid news announcement
• Proper stop and loss. SL 7, TP 12
• Write trade log

This post is to remind me that forex trading is profitable if you follow the rule. Just follow this post and I should win.

7 December trading log

• Fundamental, trend link 30, ma 60 OK
  Loss due to change of fundamental and probably ma 60
• Fundamental, trend link 30, ma 60 OK
  Loss due to not taking profit early
• Loss due not taking longer trend
• Loss due to fight of trend in MA

Forex Trading Log

Here’s the key:

• Make a rule when to buy and sell. MA cross over and W and M rule.
• Follow trend
• Avoid news
• Proper stop and loss
• Write trade log

Loss record:

• Did not avoid news. Jobless Rate in U.S. Unexpectedly Drops to 10% as Payrolls Fall by 11,000

Using forex trading signal software to make money

If you are interested in generating good amount of income by selling and buying currencies then you can do so with the help of a Forex trading signal software. The advantage of using this software is that even a newbie can earn money without knowing much about the market variations. This software will help you in managing your trade. If you are an experienced professional in the forex trading field then this software can help in saving your valuable time as you will get all the necessary information from the software program itself. The average turnover in the forex trading is nearly 3.2 trillion dollars a day. If luck is in your favour then you can gain double the invested money.

If you own a good Forex trading signal software then you don’t have to spend much time in collecting information. The software will generate the signals which will help you to do your trading. So, the trading success depends on the software. So, proper care must be taken while selecting the trading signal software. With the help of this automated tool, you will have to just interpret the Forex signal. It will provide real time information. In this way you can carry out your trade effectively.

Some people have got a belief that such software tools are prone to hackers. But, actually they provide safe passage for all your transactions. So, all your transactions are protected. In some software programs they have also made the provision to back up your database so that you can restore it at any time if something goes wrong. Installation procedure is also a simple one. If you automate your trading process by using such a tool then you can spend more time on other things also. The risks involved in the trade can be reduced to an extent by the use of this tool.

Forex scalping technique

I have just created a new article on forex scalping technique on my blog. Here’s the preview:

Millions of people all over the world turn to Forex trading when they wish to make some money. While some are long term players, others don’t mind taking a little more risk in order to make large profits in a short span. Such traders then turn to the famous Forex Scalping technique.