• Journal

    Brexit Poll : GBP acts sharply : Forex market

    Brexit poll suggests UK voters leaning toward Britain exit from euro . Because of this survey poll, GBP suddenly gone south. I was not aware of the news so could not capitalize on the trade. There was a massive move on gbpusd and gbpjpy more than 80+ pips move. I saw the moves live as i trade New York session. When i had the confirmation that it was a  momentum candle, i could have positioned myself on a suckback. But i was little worried of retrace and brutally honestly, trading momentum candle was out of my mind totally. Had i taken it , i would have had at least 100+…

  • Journal

    Was Dow Nasdaq S&p behind forex move today ?

    Probably Dow Nasdaq and S&p was behind the forex move today. I had a good day at forex . At the time of writing this blog, the numbers in the market were looking pretty awesome. Dow up by 200+ points. Now when the US stocks soars up, traditionally YEN goes weaker. And that’s what we have seen today thus far. Personally i made 50 pips today. I knew i left a lot of pips on the table but those who are following me knows that i was not having good trading session for last few weeks. I was desperate to win some pips in the bank and have my confident…

  • Journal

    Where is the Forex volatility dude ?

    Well guys, it’s been few weeks since i have seen any volatility in the Forex market during New York session. I would say over two weeks in a row i see nothing. Really difficult to make money during these days. I surely cannot predict but i have to be here in front of my computer waiting for something to happen. Really frustrating moments. At times you feel like you are wrong. But there is nothing you can do about it except for being there when market decides to give you. You just don’t know when.  It is a psychological test as you are just sitting in front with your money…

  • Journal

    No follow through monday forex trading

    Last week was quite rough. Almost no follow through the entire week during New York session forex trading. Pretty disappointing not to see those candles moving at all. so i ended up -72 pips. I was kinda frustrated with the market so i did not feel like blogging. As we all know, human nature tend to talk only about success only. But i’m here not only to blog about my winning trades but also the losing one. Controlling emotion during these phase is a challenge. Had it happened months ago, i would have been bouncing my trade strategy from one to another. At least now, i have full trust on…

  • Journal

    Oil minister Ali al-Naimi sack news could not move the CAD pairs

    Monday’s are usually slow and we saw another slow paced new york session forex trading. However, i thought the weekend big oil news would drive the oil price crazy and therefore canadian dollar would move along with it. But that did not happen. Saudi Arabia ousted long-serving oil minister Ali al-Naimi. He was replaced by Khalid al-Falih, the chairman of state-owned oil firm Saudi Aramco. This news supposed to fire the cad pairs and when i saw cadjpy trending during Asia and London session, i thought big day waiting ahead. When i opened my MT4 platform, i saw the above chart. I quickly positioned myself on a pullback and i was looking…

  • Journal

    Forex Market stalling before the big nonfarm payroll employment report

    We did not see any movement during the New York session at forex market one day before the nonfarm payroll report. Most of the pairs were in RANGE. There was no direction or trending market. EurJpy was aggressively going south 40 minutes before the market open so i was very excited. But that’s about it, it stalled right there through out the entire session. I could bank +14 pips out of it. Usually this is what happened a day before the big NFP employment report. Big traders wait for the news as they would invest their money on NFP friday therefore market gets really slow. I’m usually vigilant during any…

  • Journal

    Am i reading the Forex chart properly ?

    This week has not been very good with me. I’m still honing my skills. No doubt with my forex trading strategies as many traders earning money in this 15 minutes MT4 chart price action trading. I just need to make sure i’m executing my trades properly. Today i did take right decision however once again i chickened out. Mainly due to a lot of news during NY session trading. We had ADP Non-Farm Employment Change at the top of the hour. I took eurusd long and ended up with +5 right before the next news which was CAD trade balance. I took cadjpy short but after 45 minutes i had to…

  • Journal

    Trade Journal for New York session day trading at Forex

    Early morning at my Time, i tried to trade AUD pairs for RBA interest rate decision which came out negative. The spike on those pairs were massive. I could not enter. There were no retrace whatsoever. So i just kept looking the pairs dropping over 100 pips. These are really difficult news trades. Better to stay away.  No regrets. Then in the afternoon i tried news trade with GBP Manufacturing PMI. The reading for this one also came out negative and this trade was not very volatile at the begaining. I did enter but chickened out for +2 pips. This news changed the direction of the entire GBP momentum to the…

  • Journal

    Slow start of the week at Forex Market online

    We’ve seen a quiet start to the week with many markets closed for public holidays, including the UK, China, Singapore and Japan. I was not expecting much of a volatility but today was terrible.  We had ISM report, that was the only big news of the day. Also ECB President Draghi spoken but it did not trigger the market. My earning got very sorry looking chart today. I think i’m minus 100 pips today. I have taken almost 14 trades  and none of them were a winner. currently i have EurJpy running from a pullback and i’m hoping it would run up to least 50 pips to offset my losses. At…