Surya's Online Forex TradingSurya's Online Forex TradingOnline Forex Trading. I learn online forex trading in January 2006. And now I'm ready to step forward. In this blog, I will try to show all my online fx trading transaction. Hope it can help you too. 
Articles
EUR/JPY
2007-07-09 09:05:00 Buy price 168.46 @ 9 July 2007, SL price 164.00Change Buy position opened @ 7 June 2007 from SL price 162.60 to SL price 163.00Change Buy position opened @ 22 June 2007 from SL price 161.30 to SL price 166.40
My Latest Position (review)
2007-07-07 01:22:00 AUD/JPYBuy price 103.32 at 28 June 2007, SL 101.10Buy price 105.01 at 2 July 2007, SL 101.10CAD/JPYBuy price 106.50 @ 24 April 2007, SL 112.87Buy price 108.67 @ 4 May 2007, SL 112.87Buy price 110.81 @ 18 May 2007, SL 112.87Buy price 115.05 @ 28 June 2007, SL 113.20Buy price 116.25 @ 15 June 2007, SL 113.20EUR/JPYBuy price 162.53 @ 7 June 2007, SL 162.60Buy price 166.39 @ 22 June 2007 SL price 161.30GBP/JPYBuy price 242.39 @ 4 June 2007, SL 242.45Buy price 245.48 @ 19 June 2007, SL 237.64Buy price 248.00 @ 6 July 2007, SL 243.50USD/JPYBuy price 123.11 @ 28 June 2007, SL 120.65GBP/CHFBuy price 2.4635 @ 19 June 2007, SL 2.4140Note: more specific changes in all transactions please see each label. More About: Review , Position
Developing a Trading Mentality
2007-07-06 01:06:00 Much has been written about what type of personality it takes to be a successful trader. What makes this question particularly difficult is that there is no definitive answer about the characteristics a trader should have to be successful. If you assess your personal traits honestly and realistically, you can probably develop a trading program that fits your personality more easily than you can adapt your personality to a particular trading program. But what provides a common thread among many successful traders is that they all have a trading mentality. That doesn’t mean just shifting from the traditional buy-and-hold mindset of the past to jumping into and out of positions readily, however. That is part of it, but a trading mentality includes several other factors related to attitude that may be somewhat different from what you have heard and believed in the past. Speculation is okay. You may have heard compla... More About: Trading , Ality
Trader Self-Evaluation
2007-07-04 15:46:00 In my work with traders and investors I believe the most significant work that anyone can do to increase market returns is self work. Really understanding yourself and how you think can give you an edge that others in the market don't have.As part of my training, I give a long questionnaire to each trader to do an evaluation of themselves. Some of the feedback that I get is that taking the test is like doing a Ph.D. program! It's that involved.I consider the ten questions that I give my Super Traders to be the essence of this self-evaluation process— a minimum starting point for this type of work.This week we'll start this process with just one of the points. My advice to spend at least an hour on each question—a day is even better. These questions are meant for you to really dig deep and come up with responses from your core belief structure.What are seven key psychological areas that you need to work on or are currently working on?Don’t say “none” because that answe... More About: Evaluation , Valuation
Automated Trading
2007-07-02 07:44:00 The debate rages on: what's the best way to capture profits in forex – hard work or automated trading? For someone who wants to trade their own systems, the answer is clear: both. Hard work is the foundation of all profitable automated trading systems. ANALYSIS Why is automation of particular use in forex trading?What are the major components of automation?What does the ideal automated system look like? ACTION Evaluate the systems that allow you to automate.Select, test, and implement the platform of choice. RELATED MATERIAL Test-drive FX Engines for free online at www.fxengines.com to see the power of system building, system testing, and system automation. ABOUT THIS REPORT The Forex Report is a periodic publication that investigates advanced strategies for superior trading performance in the foreign exchange markets. These reports utilize advanced statistical and econometric modeling techniques to create new insight into the trading strategy of the average trader. This Data B... More About: Trading , Automated , Tomate
Leverage & Margin
2007-07-01 03:47:00 The leverage available in forex trading is one of main attractions of this market for many traders. Leverage d trading, or trading on margin, simply means that you are not required to put up the full value of the position.Forex provides more leverage than stocks or futures. In forex trading, the amount of leverage available can be up to 200 times the value of your account.There are several reasons for the higher leverage that is offered in the forex market. On a daily basis, the volatility of the major currencies is less than 1%. This is much lower than an active stock, which can easily have a 5-10% move in a single day. With leverage, you can capture higher returns on a smaller market movement. More importantly, leverage allows traders to increase their buying power and utilize less capital to trade.Margin Trading: Stocks vs ForexThe word "margin" means something very different in forex than it does in stocks.With stocks, trading on margin means that a trader can borrow up to 50% of...
My Latest Position (review)
2007-06-30 05:00:00 AUD/JPYBuy price 103.32 @ 28 June 2007, SL 101.10CAD/JPYBuy price 106.50 @ 24 April 2007, SL 112.87Buy price 108.67 @ 4 May 2007, SL 112.87Buy price 110.81 @ 18 May 2007, SL 112.87Buy price 115.05 @ 28 June 2007, SL 113.20Buy price 116.25 @ 15 June 2007, SL 113.20EUR/JPYBuy price 162.53 @ 7 June 2007, SL 162.60Buy price 166.39 @ 22 June 2007 SL price 161.30GBP/JPYBuy price 242.39 @ 4 June 2007, SL 242.45Buy price 245.48 @ 19 June 2007, SL 237.64USD/JPYBuy price 123.11 @ 28 June 2007, SL 120.65GBP/CHFBuy price 2.4419 @ 24 May 2007, SL 2.4425Buy price 2.4635 @ 19 June 2007, SL 2.4140Note: more specific changes in all transactions please see each label. More About: Review , Position
Forex Money Management
2007-06-30 03:50:00 Money management is a critical point that shows difference between winners and losers. It was proved that if 100 traders start trading using a system with 60% winning odds, only 5 traders will be in profit at the end of the year. In spite of the 60% winning odds 95% of traders will lose because of their poor money management. Money management is the most significant part of any trading system. Most of traders don't understand how important it is. It's important to understand the concept of money management and understand the difference between it and trading decisions. Money management represents the amount of money you are going to put on one trade and the risk your going to accept for this trade. There are different money management strategies. They all aim at preserving your balance from high risk exposure. First of all, you should understand the following term Core equityCore equity = Starting balance - Amount in open positions. If you have a balance of 10,000$ and you ent... More About: Money , Money Management , Management , Forex
How to Choose a Forex Broker
2007-06-30 03:28:00 There is a great deal of fraud in the forex market, so it would behoove the new forex investor to check out the broker thoroughly. One of the best ways to do so is to check if the broker is registered by the National Futures Association (NFA). Because the forex market is largely unregulated, forex brokers do not have to be members of the NFA, but they can register if they want to. If they are members of the NFA, then the firm can be checked out by using NFA’s Background Affiliation Status Information Center (BASIC). Here you can find out about the firm, its main principals, and about any regulatory actions against the firm and their resolutions.Other good ways of checking a broker is by talking to other forex traders through the many forums dedicated to foreign exchange. However, it is highly recommended that you do not do any business with any broker who is not a member of the NFA. Otherwise, it would be difficult to check the background of the broker, and little you could do if... More About: Forex , Broker , Choose
Why Trade the FOREX?
2007-06-30 03:22:00 My purpose for writing this article is to demonstrate to you the advantages of trading on the FOREX market. However, there is one myth that I want to dispel before I go further. The myth is that there is a difference between trading and investing. To dispel that myth I quote from Al Thomas, President of Williamsburg Investment Company, who wrote "If It Doesn't Go Up, Don't Buy It". He said "Everyone who invests is a trader, only the time period is different." It is a lesson that I took seriously after taking a beating in the stock market in 2000.So now, let's compare features of currency trading to those of stock and commodity trading.LiquidityThe FOREX market is the most liquid financial market in the world around 1.9 trillion dollars traded everyday. The commodities market trades around 440 billion dollars a day, and the US stock market trades around 200 billion dollars a day. This ensures better trade execution and prevents market manipulation. It also ensures easily executabl... More About: Forex , Trade
Forex Glossary
2007-06-30 03:09:00 AAccrual - The apportionment of premiums and discounts on forward exchange transactions that relate directly to deposit swap (Interest Arbitrage) deals , over the period of each deal.Adjustment - Official action normally by either change in the internal economic policies to correct a payment imbalance or in the official currency rate or. Adjustment - Official action normally by either change in the internal economic policies to correct a payment imbalance or in the official currency rate or.Appreciation - A currency is said to 'appreciate' when it strengthens in price in response to market demand.Arbitrage - The purchase or sale of an instrument and simultaneous taking of an equal and opposite position in a related market, in order to take advantage of small price differentials between markets.Ask (Offer) Price - The price at which the market is prepared to sell a specific Currency in a Foreign Exchange Contract or Cross Currency Contract. At this price, the trader can buy the bas... More About: Forex , Glossary
CAD/JPY
2007-06-27 11:55:00 Closed position by SL at 114.10 for transaction Buy opened 7 June 2007 @ 114.05Change SL from 111.90 to 112.87 for position that opened at 24 April, 4 & 18 May 2007
EUR/JPY
2007-06-27 11:50:00 Closed Buy position by SL at 164.40 for transaction opened at 22 June 2007
Books That Helps
2007-06-27 02:47:00 One of my favorite books is Come into My Trading Room by Alexander Elder. This is the first book that teach me about money management. This book also teach how to see market as a whole, not separate to each other. This book also teach me about trading notes and review. It doesn't talk about trading system that will succeed but it will guide how to make the best trading system that suits for you. And the most important is this book is for everyone, for a trully beginner to expert level.Of course one book can't help you to create the best system that suits for your self. So you should find another books too. My other favorites are Trading as a Business by Charlie Wright and Trend Following by Michael Covel. In Trading as a Business, we can find what should do and don't in trading. Most of them are keys of success in any trading. It's easy to understand but realy need a hardwork to applied in trading actions because you should find balance between how to apply success principles, m... More About: Books
My Latest Position (review)
2007-06-25 03:04:00 AUD/JPYNo TradeCAD/JPYBuy price 106.50 @ 24 April 2007, SL 111.90Buy price 108.67 @ 4 May 2007, SL 111.90Buy price 110.81 @ 18 May 2007, SL 111.90Buy price 114.05 @ 7 June 2007, SL 114.10Buy price 116.25 @ 15 June 2007, SL 113.20EUR/JPYBuy price 164.35 @ 4 June 2007, SL 164.40Buy price 162.53 @ 7 June 2007, SL 162.60Buy price 166.39 @ 22 June 2007 SL price 161.30GBP/JPYBuy price 242.39 @ 4 June 2007, SL 242.45Buy price 245.48 @ 19 June 2007, SL 237.64USD/JPYNo TradeGBP/CHFBuy price 2.4419 @ 24 May 2007, SL 2.4425Buy price 2.4635 @ 19 June 2007, SL 2.4140Note: more specific changes in all transactions please see each label. More About: Review , Position
EUR/JPY
2007-06-22 08:32:00 Buy price 166.39 @ 22 June 2007 SL price 161.30 Change SL for 4 June 2007 from 161.00 to 164.40 @ 22 June 2007
What you should not believe about forex?
2007-06-22 05:13:00 1. It's easy to trade and make money in forex trading. Yes, it's easy to do, but not easy to make money in forex even for an expert. It's depend on you money management, your system, your trading plan, your emotion control, and your discipline. And even you can do all of that, losing money is a part that can't separate in forex trading. 2. It's exciting to trade in forex. Yes, it's exciting, but there's one thing you should do. Aware! Your excitement can make you careless about your trading. Get excited and make a transaction without following your trading rules and plan can be your biggest mistakes. Let's your excitement take you to improve your knowledge in trading to higher level. But don't let it make your guard down. You can enjoy your trading activities but please to stay "on guard". 3. The amount money you make from every trade show how good is your system. No. In trading, the amount money you make from every trade only show how much reward compare to your risk of eq... More About: Forex
Let's do it!!
2007-06-20 12:53:00 1. How much risk of equity I should take? How about 1% of equity? if your equity is US$ 10,000 then the risk should be US$ 100. So if we never move our stop loss price and the market price hit it (the market price have the same number as our stop loss price) we lose our equity US$ 100 (can be less or more depend on your type position and currency pair interest rate swap)2. Choose my currency pairs How about CAD/JPY? Why CAD/JPY? Because it making a bullish trend (cad strong move against jpy) from year 2000, yearly price movement in one way called trend.3. Choose my trading system What position we should take? We don't fight the trend so we take buy (or long) position. The trend is bullish, so from time to time cad is stronger against jpy. So if we take buy position we makes money only if price of cad/jpy is above our buy position price. When we choose to trade and set our open position price? Let's choose if the market price is moving higher than yesterday's highest price. ... |
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