Kakadu and Arnhem Land, Northern Territory

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EUR/USD long

The support from the trend line was in force. Most of the time when the price move away from support or resistance, it will try to test that S/R area. This must be a technique that market movers use to get ride of the novice trader, since you know the trick, you wait for the right timing. I am not saying that you will get the best execution every time, but it worth trying. In EUR/USD I couldn’t enter at the place I wanted to enter(I was away from the PC), but I am happy with it.

GBP/USD short

Not the best set up,but selling resistance always work.Hope you guys doing all right.

No trades today

Market is very choppy for some reason,i am watching it closely.

Choosing a forex broker

Market-Makers

Pros:
Usually give free charting software and news feedPrices can be "smoother" and less volatile than ECN prices (this can be a con if you are scalping or trading very short term)Often have a more user-friendly trading and analysis interface

Cons:
They may trade against you. In that case, there will be a conflict of interest between you and themThe price they offer you may be worse than what you could get on an ECNIt is possible that they may trigger stops or not let your trade reach your profit target levels by manipulating pricesDuring news, there will usually be a large amount of slippage; their systems may also lock up or not allow order placing during times of high volatilityMany of them discourage scalping and put scalpers on "manual execution" which means their orders may not get filled at the price they want.

ECNs

Pros:
You can usually get better bid/ask prices since they come from several sourcesVariable spreads between bid and ask may give no spread or tiny spreads at timesIf they are a true ECN, they will not be trading against you but will pass on your orders to a bank or another customer on the other end of the transaction.You will be able to offer a price between the bid and ask with a chance of it getting filledIf they support Stop-Limit orders, you can prevent slippage during news by making sure that your order either gets filled at the price you want or not at allPrices may be more volatile which will be better for scalping.
Cons:
Many do not offer integrated chartingMany do not offer integrated newsMany of the trading platforms are less user-friendlyBecause of variable spreads (between bid and ask,) it may be more difficult to calculate stop loss and profit target in pips beforehand.Read the whole article:http://www.goforex.net/market-makers-ecns.htm

Economic Depression 2009

Five Signs of a Market Bottom

2 trades

Good day so far ,lets see whats bring next week.

No trades today

I am still holding half of my position in EUR/GBP ,no new trades so far.Hope you guys doing ok.

3 trades

I usded 30 minutes chart to show detail of the entries.GBP/USD looked very weak to me and i just made an excuse to enter this trade ,if you ask me what make you think that this pair was weak?I will not answer this question in public.Yes opposite thing happed to EUR/GBP,it showed great strength.In the last trade AUD/USD ,i took some early profit from the first half and last half got out breakeven.

Today's and yesterday's trades

Yesterday's trades:

I had one losing trade that was USD/CAD and AUD/USD exited break even .

3 trades

Very good day so far,i was little bit skeptial about AUD/USD pair that the pattern might fail because of the rate cut news but i was lucky .USD/CHF formed a double top pattern,i was trying to find some excuse to involve in the trade.

2 trades

EUR/GBP 123 pattern breakout and USD/JPY TL break.Good start so far, lets see what's bring the rest of the week.

Brighton- le-sands

We have been to the brighton-le-sands or Brighton Beach.It is located 13 kilometres south of the Sydney central business district, on the western shore of Botany Bay. Brighton-Le-Sands is in the local government area of the City of Rockdale and is part of the St George area..Lady Robinson Beach and Cook Park run along the eastern border of Brighton-Le-Sands, on Botany Bay.Realy beauiful beach i like it lot.

Yesterday's trades

Yesterday was a good day to trade calm market condition, not many big economic news was in due, pattern worked very well. I was stopped out in USD/CHF for small lose, though the setting had some fault in it. I usually put stop at the swing high/low plus spread but in USD/CHF some how I forgot to add the spread. Any way I made 10 times more in EUR/GBP.

No trade today

Market was very choppy ,i preferred to watch rather than getting involved.

Trade and update

Nothing happen yesterday except one big mistake, I made a trade from my pocket pc (PDA), instead of putting lot size 0.5 i put 5 lot ,don't ask me how I did it? But i did, which is ten times more than my risk amount. Though i closed the trade staight way i had some loss. Monday was good, I made one trade, short USD/CHF .

Update

No trading for me so far,lets see whats bring next week.Most of the pairs are in consolidation mode except USD/CHF,I already have an open long position in that pair.

Trade and update

This trade was the biggest gainner so far,i am on some other trades which i will post as soon as they close.

two trades

I traded NZD/USD long didn't work out well but GBP/USD made me profit.Hope you guys doing well.

Trade and update

GBP/CHF is the only trade i took but did't work out,market is choppy and most of the pair moving side ways .EUR/USD look like found a support at the 1.3050 area.

No trades today

I was way from my computer ,no trades today .

What a start!

I had pre determined entry points for GBP/JPY and GBP/USD but both started their week gapping down and missed my entry. I was a little bit concerned about the entry though but wow what a move. I was busy yesterday with my trades and some other things ,that's why i couldn't post.

Profitable forex trading

4 trades

Mixed day for me,eur/usd was the biggest gainner of my trades,usd/chf just breakeven.Hope you guys had good day.