• Journal

    Trading Forex : really difficult

    Hello Folks, yes i’m still here. Glad to see i have few readers who are interested to read my blog post. Good to know. Thank you guys. Breaking news : i’m still not successful as forex trader. I thought i have reached to a point where i’ll invest some serious money but the moment i win , i tend to give away in the next session.One month i do good, next month i’m donating my profits to the market. so i’m still not a consistence trader which is number ONE rule to be successful in this business. I’m trading micro account as you all know. During NY session i take on average…

  • Journal

    Registered a losing week : 12th-15th Sep 2016

    what a terrible week ! i lost 200 pips this week, that is 6% of my account. There were practically no follow through during the entire London and New York session. Some movements during Asia session but i only trade NY so i could not catch any of the move. I was exhausted. Pretty tiring to lose every day 4 days in a row. So i decided to take rest on Friday and guest what ! there was a move on Friday. I had the opportunity to make some pips but hey am i upset ? absolutely not. I needed that rest. I shall be back next Monday fresh again.…

  • Journal

    New Forex traders journey 6th-9th sep 2016

    Tough week for me. Monday was labor day so i was not expecting the greenback to move so i took off for that day. Watching trading related Youtube clips were better option for me. 6th Sep Tuesday 2016 Started trading from Tuesday. I did learn a valuable lesson on Tuesday. The follow throw on 6th sep was huge due to ISM Non-Manufacturing PMI. I was really tired due to lack of sleep, kinda skeptical whether to trade or not but forced myself to trade. Result : ended the session with -15 pips which is not bad i agree. However, due to ISM news, the move during NY session was massive…

  • Misc

    Forex day trading in Summer : my journal

    It’s been a while since i last blogged. During brexit era, i briefly took off from forex trading. The market was going haystack up and down so vigorously i thought i should take a break. With my strategy to risk 10-12 pips, those time was not a good time to trade. Over time i learned when the market conditions are not favorable to trade, just take a break. I also had a chance to visit India to attend one of my friends big fat wedding after brexit. It was really good time to see all the colors, cultures and dances in Jaipur India. The break that i needed from trading…

  • 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

    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

    Prediction went wrong at Forex Market Today

    Today was big news day. Numbers from Core durable goods order, then BOC gov speech and CB consumer from the US. Then add the quarterly income of the big tech companies in the NY stock which supposed to drive the market crazy. But that did not happen as much as i was expecting.  Sure there was some movement pre NY session and lot of day trader pip hunted during those hours. But i was not one of them unfortunately. I was really thinking the market would move up opening NY stock. Here is the thing i heard over and over. DO NOT predict the market. Act the way it is.…

  • Journal

    Slow day trading at Fx online today

    Monday is mostly like this. Slow and steady but now at the time of blogging we are approaching London close but i see no follow through till now. Most of the pairs were in Range at the starting of NY open.  So probably i’ll close with the few pips i earned today. Only taken two trades before the market opened with eurusd and cadjpy. Both winners but with small profit. Happy that at least it is not a loss. As you can see from the pic, this trade is still running and my target is high up at 1.1300. If that happens i would earn +55 pips. Not bad with…

  • Journal

    Hammered by big moves early New York session : Forex

    oh boy ! what a move ! albeit on the wrong direction. 15 minutes before the New York session, i took LONG pullback on GBPUSD and GBPJPY hoping it would go up. At least that’s what i read from the price action. Since i take trades with small stop loss, i would retake the trade from a below level in case i get stopped out. In split of seconds all my 4 trades were taken out and i was -42 pips early NY session. This is what it looked like in most of the pairs. I took my long positions on the yellow line but it quickly wiped out. These…