Update Time: 27 Nov 2009 08:43 GMT
EUR/USD - 1.4872
The single currency tumbled to a low of 1.4827 on dollar's broad-based rebound, suggesting decline from this week's 15-month high of 1.5145 to retrace recent upmove remains in progress and further weakness towards 1.4800 support is likely, however, oversold condition should prevent steep fall from there and reckon 1.4739 would hold from here.
On the upside, only a breach of 1.4959 would signal the corrective fall has made a low and bring gain to 1.5033.
Dollar rises broadly as Dubai debt woes boosts demand for safe-haven asset
The greenback strengthened against most of its counterparts on Friday as investors cut risk exposure amid concerns of a possible Dubai debt default. Although the dollar nose-dived against the Japanese yen to a 14-year low at 84.82 in Australian trading, the pair then rebounded strongly at Tokeyo opening after Japan Finance Minister Fujii said that he was flexible about contacting with the currency authorities in the U.S. and Europe in response to the yen’s recent surge. Usd/jpy later rallied to 87.02, eur/jpy jumped from 126.95 to 130.16, ...
Saturday, November 28, 2009
Forex trading time 101
The one thing that marks a forex market is its dynamic nature. Here fortunes change in seconds and minutes. If taken positively, this feature also allows a trader to enter the market many times in a single day and garner some profit for himself.
Timing is one thing that would actually determine your success in the forex market and that is why it is essential to find the best time to trade the forex market, the best time with regards to activity, volume of trade etc.
The most prominent forex market is undoubtedly the US and the UK. They account for more than half of the total market transactions.
If it comes to major forex markets, London, New York and Tokyo would win hands down. Around 75% of market activities in the New York markets are witnessed in the morning hours while the European markets are still open. And if you want to know when the forex trading is the heaviest, well look for the time when the major markets overlap.
One thing must be evident from this discussion. There is never a cease down in the forex market. When its day for you, its night for someone else. Markets close somewhere and simultaneously, markets open somewhere else. That is what offers traders this tremendous opportunity to make some serious money.
Forex market is characterized by high liquidity and high flexibility and as such traders get the freedom to make choices as per their wishes. They are not bound by the whims of the markets.
This is all about volume of trade. It is determined by the number of markets that are open and the number of times each of these markets overlap with each other.
Keeping in mind the forex volume is extremely essential. It is generally seen that the volume of transactions remains high all through the day but when does it peak? The answer is when the Asian markets with Australia and New Zealand, the European markets and the US markets open simultaneously. This is the best time to trade the forex market.
Let's have a look of the timings of some of these markets.
New York Market : 10 pm – 5 am ( local )
London Market : 3 pm - 12 midnight ( local )
Great Britain Market : 2 pm – 11 pm ( local )
Tokyo Market : 7 am – 3 pm ( local )
Australian Market : 7 am – 3 pm ( local )
Just have a look at the above schedule carefully. What do you see? Yes, there are two times when two of the major markets overlap during the trading hours-between 2 pm and 5 pm (Asian/Europe) and between 8 pm to 12 pm (European/N. American). This is the time you have to target to make profits, the best time to trade the forex markets.
Timing is one thing that would actually determine your success in the forex market and that is why it is essential to find the best time to trade the forex market, the best time with regards to activity, volume of trade etc.
The most prominent forex market is undoubtedly the US and the UK. They account for more than half of the total market transactions.
If it comes to major forex markets, London, New York and Tokyo would win hands down. Around 75% of market activities in the New York markets are witnessed in the morning hours while the European markets are still open. And if you want to know when the forex trading is the heaviest, well look for the time when the major markets overlap.
One thing must be evident from this discussion. There is never a cease down in the forex market. When its day for you, its night for someone else. Markets close somewhere and simultaneously, markets open somewhere else. That is what offers traders this tremendous opportunity to make some serious money.
Forex market is characterized by high liquidity and high flexibility and as such traders get the freedom to make choices as per their wishes. They are not bound by the whims of the markets.
This is all about volume of trade. It is determined by the number of markets that are open and the number of times each of these markets overlap with each other.
Keeping in mind the forex volume is extremely essential. It is generally seen that the volume of transactions remains high all through the day but when does it peak? The answer is when the Asian markets with Australia and New Zealand, the European markets and the US markets open simultaneously. This is the best time to trade the forex market.
Let's have a look of the timings of some of these markets.
New York Market : 10 pm – 5 am ( local )
London Market : 3 pm - 12 midnight ( local )
Great Britain Market : 2 pm – 11 pm ( local )
Tokyo Market : 7 am – 3 pm ( local )
Australian Market : 7 am – 3 pm ( local )
Just have a look at the above schedule carefully. What do you see? Yes, there are two times when two of the major markets overlap during the trading hours-between 2 pm and 5 pm (Asian/Europe) and between 8 pm to 12 pm (European/N. American). This is the time you have to target to make profits, the best time to trade the forex markets.
Best trading days / times for Forex Trading
Best Forex Trading Times:
What is the best time to trade forex? Unlike stock markets, the forex trading market is open 24 hours a day, 5 days in a week from Monday to Friday. However the forex trading volume and the price movements at the market are not at the same level during all these times and there are certain times when trading is good and there are times you should stay away from trading. This is because there is a great deal of activities on the currency trading markets at specific days and certain times of day and in general, the best times to trade forex are when the foreign exchange markets are busiest.
London is the biggest trading market followed by the US markets. As you might already know the Euro, USD, GBP, CHF are some of the most popular forex currencies. Even though Euro is not used in the UK, most of the busy forex trading markets in European Union which trade in Euro and the Switzerland (CHF), trading sessions are within few hours of London. The next most active market is the US and the trading time of Canadian forex market also is at the same period. This means that the lion share of forex trading is happening between the London session and the US session. Naturally this is the best forex trading times to make profits. Now let’s go little more deep and find out the exact time to trade forex online.
The forex trading session at London starts at 3.00pm and finishes at 12pm. The Euro (EUR), US dollar (USD), British pound (GBP) and Swiss Franc (CHF) are the major currencies involved in the most of the trades during this session.
The US forex session (New York) starts at 9.00pm and closes at 5.00am. The USD, EUR, GBP, AUD (Australian dollar), JPY (Japanese yen) and CAD (Canadian dollar) & NZD (New Zealand Dollar) are the most traded forex currencies during the US forex trading times.
Best Time to Trade Forex
During every trade day there are three hours during which the forex trading sessions at London and US overlap. This time period runs from 9.00pm to 12.00pm ( local ). This peak trading times is the best time to make profits if you a good forex trading system in place.
Of course this is based on the assumption that you are trading in currency pairs which involve US Dollars. If you are trading in currency pair that does not involve the US dollar (cross rate), the best forex trading times for you will be different depending upon the currency you chose to trade.
For instance the Asian forex session might be the best forex trading time for you, if you were trading AUD/JPY. The Australian and Japanese trading hours are very close and you will find that most of the day you could spot good trades. But keep in mind that AUD/JPY is not a recommended currency pair unless you are expert in this forex market.
I am doing day trading. Should I worry about the Forex Trading Time?
Forex trading times are important if you are more into day trading. In case you like to let your orders run over quite a few days the busiest times in the forex market may not make so much difference to you. On the other hand when you are doing forex day trading where you might open trade and close it within a few minutes, you will find that most of the profitable trade opportunities are present during the busiest hours of trading.
In summary the best time to trade forex for most currency traders is during that three hour time frame when the US forex session and the London overlap. There is highest liquidity during this time of the day when it is morning in USA and afternoon in Europe and UK. Maximum number of trades takes place in these 3 hours and the currencies shift far and fast. Also, many of the significant financial news are released during this time period, especially during the initial hours.
So the 3 hours between 9.00pm to 12.00pm ( local ) are the best forex trading times to make quick profits forex market.
Best Day to Trade Forex
For a trader from US, the forex market opens from Sunday and closes on Friday evening. Although the currency trading market is open on all these 5 business days there are certain days which are considered as the best forex days. Statistics shows that Tuesday and Wednesday are the best days to trade forex since the maximum number of trades happen during these days.
Days to avoid Trading
Do not trade on Friday since Fridays are extremely unpredictable.
Avoid Sundays and holidays since there is very little movements in currency rates and you don’t want to start a trading week with negative forex pips.
How to make the best use of this information?
How do you make maximum profit from the above info? During the peek trading hours do the forex day trading manually with the help of a good forex signals provider. For the rest of the day you can set your automated forex software to take take care of your trades.
What is the best time to trade forex? Unlike stock markets, the forex trading market is open 24 hours a day, 5 days in a week from Monday to Friday. However the forex trading volume and the price movements at the market are not at the same level during all these times and there are certain times when trading is good and there are times you should stay away from trading. This is because there is a great deal of activities on the currency trading markets at specific days and certain times of day and in general, the best times to trade forex are when the foreign exchange markets are busiest.
London is the biggest trading market followed by the US markets. As you might already know the Euro, USD, GBP, CHF are some of the most popular forex currencies. Even though Euro is not used in the UK, most of the busy forex trading markets in European Union which trade in Euro and the Switzerland (CHF), trading sessions are within few hours of London. The next most active market is the US and the trading time of Canadian forex market also is at the same period. This means that the lion share of forex trading is happening between the London session and the US session. Naturally this is the best forex trading times to make profits. Now let’s go little more deep and find out the exact time to trade forex online.
The forex trading session at London starts at 3.00pm and finishes at 12pm. The Euro (EUR), US dollar (USD), British pound (GBP) and Swiss Franc (CHF) are the major currencies involved in the most of the trades during this session.
The US forex session (New York) starts at 9.00pm and closes at 5.00am. The USD, EUR, GBP, AUD (Australian dollar), JPY (Japanese yen) and CAD (Canadian dollar) & NZD (New Zealand Dollar) are the most traded forex currencies during the US forex trading times.
Best Time to Trade Forex
During every trade day there are three hours during which the forex trading sessions at London and US overlap. This time period runs from 9.00pm to 12.00pm ( local ). This peak trading times is the best time to make profits if you a good forex trading system in place.
Of course this is based on the assumption that you are trading in currency pairs which involve US Dollars. If you are trading in currency pair that does not involve the US dollar (cross rate), the best forex trading times for you will be different depending upon the currency you chose to trade.
For instance the Asian forex session might be the best forex trading time for you, if you were trading AUD/JPY. The Australian and Japanese trading hours are very close and you will find that most of the day you could spot good trades. But keep in mind that AUD/JPY is not a recommended currency pair unless you are expert in this forex market.
I am doing day trading. Should I worry about the Forex Trading Time?
Forex trading times are important if you are more into day trading. In case you like to let your orders run over quite a few days the busiest times in the forex market may not make so much difference to you. On the other hand when you are doing forex day trading where you might open trade and close it within a few minutes, you will find that most of the profitable trade opportunities are present during the busiest hours of trading.
In summary the best time to trade forex for most currency traders is during that three hour time frame when the US forex session and the London overlap. There is highest liquidity during this time of the day when it is morning in USA and afternoon in Europe and UK. Maximum number of trades takes place in these 3 hours and the currencies shift far and fast. Also, many of the significant financial news are released during this time period, especially during the initial hours.
So the 3 hours between 9.00pm to 12.00pm ( local ) are the best forex trading times to make quick profits forex market.
Best Day to Trade Forex
For a trader from US, the forex market opens from Sunday and closes on Friday evening. Although the currency trading market is open on all these 5 business days there are certain days which are considered as the best forex days. Statistics shows that Tuesday and Wednesday are the best days to trade forex since the maximum number of trades happen during these days.
Days to avoid Trading
Do not trade on Friday since Fridays are extremely unpredictable.
Avoid Sundays and holidays since there is very little movements in currency rates and you don’t want to start a trading week with negative forex pips.
How to make the best use of this information?
How do you make maximum profit from the above info? During the peek trading hours do the forex day trading manually with the help of a good forex signals provider. For the rest of the day you can set your automated forex software to take take care of your trades.
Forex Trading 101: Learning Guide for FX Beginners
Being new to FOREX trading? Don’t worry, getting started in FOREX trading is easy and you can always test your skills first in a demo account before you go ‘live’ with real money. To get started in FOREX trading, we have to get to know what FOREX is. For the inexperienced, FOREX trading involves buying and selling the different currencies of the world. A FOREX deal is made when one buys one currency and sells another at the same time. It is always traded in pairs, Euro/USD, CHF/USD, USD/JPY…you get ‘short’ in a currency every time to buy another and the profit is made when you buy-low and sell-high.
Facts on FOREX market
FOREX market is the largest trading market in the world. It yields an average turnover of $1.9 trillion daily and the figure is nearly 30 times larger than the total volume of equity trades in United States. FOREX trading is very unique as the trades are done between two counterparts via electronic network or telephone connections. There is no centralized location as stocks or futures markets and trades are done around the clock. Everyday FOREX trade begins when the financial centers in Sydney start their day, and moves around the globe to Tokyo, London, and then New York. Traders can always response to the market regardless of the local time.
Although FOREX trading involves such a big volume of trades nowadays, it is not made available for the publics until year 1998. In the past, the FOREX market was not offered to small speculators or individual traders due to the large minimum business sizes and extremely strict financial requirements. At that time, only banks, big multi-national cooperation and major currency dealers were able to take advantage of the currency exchange market's extraordinary liquidity and strong trending nature of world's main currency exchange rates. Only until the late 90s, FOREX brokers are allowed to break huge sized inter-bank units into smaller units and offer these units to individual traders like you and me. Nowadays with the rapid growth of Internet and communications technology, FOREX trading has become one of the hottest make-money-at-home-businesses for those who wish to avoid conventional 9-5 day job.
As a fact in FOREX trading, FOREX is mainly traded in large international bank. According to Wall Street Journal Europe, 73% of the trade volume is covered by the major ten. Deutsche Bank, topping the table, had covered 17% of the total currency trades; followed by UBS in the second and Citi Group in third; taking 12.5% and 7.5% of the market. Other large financial cooperation in the list is HSBC, Barclays, Merril Lynch, J. P. Morgan Chase, Coldman Sachs, ABN Amro, and Morgan Stanley. For market participants segment, approximately half of the transactions done were strictly between dealers (i.e. Bank, or large currency dealer); others are mainly between dealer and non financial institutions.
Why FOREX is popular?
There are several reasons why FOREX had became such a popular investment among world wide speculators.
In FOREX trading, you can always use technology for your own advantage. The FOREX market has made an amazing transformation since the advent of the internet. Technology has now made it possible for smaller investors to play on the same level as larger corporations and banks. Anyone with a computer and a will to succeed can start trading currencies from the privacy of their home or office. Online FOREX trading has changed the way that investors do business. With access to your portfolio 24-hours a day, it is really very simple to get started. You can choose whether to hire a professional to handle your transactions, or you could choose to do them yourself.
Also, FOREX trading provides relative large leverage rates to individual traders. FOREX traders can do business with up to 200 to 1 leverage rates. With this advantage, ROI is escalated dramatically and traders can always start up small with capital as little as $1,000.
Getting started in FOREX trading
You don’t need much to get started with FOREX trading. A computer with Internet access, a funded FOREX account with foreign currency exchange broker, and a trading system should be sufficient to get things started.
To reduce the risks of losing money, some basic charting knowledge is as well recommended before you start trading FOREX. FOREX charts assist the investor by providing a visual representation of exchange rate fluctuations. Many variables affect currency exchange rates, such as interest rates, bank policies, geopolitics, and even the time of day may affect exchange rates. As stated by expert FOREX trader Peter Bain, charting is an essential tool in FOREX trading. In his newsletter, he reveals that daily charts, hourly charts, and 15-minute charts are used while trading in FOREX. As quoted from his informative newsletter -- “Daily chart will help you define the overall trend from a position trading point-of-view, and the hourly (one hour) chart will give you a feel for the intraday trend. The 15-minute chart is used for entry and exit – with assistance from the five-minute chart, where price is moving quickly, and you need to be closer to the action.”
Being one of the technical method, FOREX charting is based on the principal ‘history repeats itself’. FOREX traders who study charts predict the market future by evaluating past market performance. The time frame used for charting might differs for different traders, some analyze the past one week, some prefer six months analysis, and there are also traders who analyze the market for the past five to ten years before getting involved in a FOREX trade. A huge variety of FOREX charts are available in the market. Some charting methods are very simple, using a few FOREX indicators to show trading direction; other charts may include up to forty indicators and those are mainly for advance traders that are more skillful. MACD Divergence, RSI, RSI range, and price are some of the well known indicators in charting.
Choosing the right FX dealer is a way to avoid unnecessary risks. FOREX dealers are not all regulated the same way. Although FOREX dealers must be regulated by law, firms and individuals can solicit retail accounts for FOREX dealers and manage those accounts without being regulated. As a trader you should take up the responsibility of finding out if your FOREX dealers are regulated. If they are not, you may be exposed to additional risks.
Also, beware of dealers with investment schemes that sounds too good to be true. Pay extra cautions to dealers that you first knew and always look into the investment offers. If you are from United States, you can always refer to CFTF (at http://www.cftc.gov) or NFA (at http://www.nfa.org) for further information.
Conclusions
You come to this article probably because of you are new to FOREX and were looking for some readings on the Internet. To be frank, FOREX can be very profitable but the risk lie beneath is equally great. Remember to always trade with proper investment plan and strategy. Read books, attend courses, watch video seminars, read papers, or even practice first with a dealer’s demo account to get yourself ready. Trade smartly, and gain the maximum out of FOREX – good luck!
Facts on FOREX market
FOREX market is the largest trading market in the world. It yields an average turnover of $1.9 trillion daily and the figure is nearly 30 times larger than the total volume of equity trades in United States. FOREX trading is very unique as the trades are done between two counterparts via electronic network or telephone connections. There is no centralized location as stocks or futures markets and trades are done around the clock. Everyday FOREX trade begins when the financial centers in Sydney start their day, and moves around the globe to Tokyo, London, and then New York. Traders can always response to the market regardless of the local time.
Although FOREX trading involves such a big volume of trades nowadays, it is not made available for the publics until year 1998. In the past, the FOREX market was not offered to small speculators or individual traders due to the large minimum business sizes and extremely strict financial requirements. At that time, only banks, big multi-national cooperation and major currency dealers were able to take advantage of the currency exchange market's extraordinary liquidity and strong trending nature of world's main currency exchange rates. Only until the late 90s, FOREX brokers are allowed to break huge sized inter-bank units into smaller units and offer these units to individual traders like you and me. Nowadays with the rapid growth of Internet and communications technology, FOREX trading has become one of the hottest make-money-at-home-businesses for those who wish to avoid conventional 9-5 day job.
As a fact in FOREX trading, FOREX is mainly traded in large international bank. According to Wall Street Journal Europe, 73% of the trade volume is covered by the major ten. Deutsche Bank, topping the table, had covered 17% of the total currency trades; followed by UBS in the second and Citi Group in third; taking 12.5% and 7.5% of the market. Other large financial cooperation in the list is HSBC, Barclays, Merril Lynch, J. P. Morgan Chase, Coldman Sachs, ABN Amro, and Morgan Stanley. For market participants segment, approximately half of the transactions done were strictly between dealers (i.e. Bank, or large currency dealer); others are mainly between dealer and non financial institutions.
Why FOREX is popular?
There are several reasons why FOREX had became such a popular investment among world wide speculators.
In FOREX trading, you can always use technology for your own advantage. The FOREX market has made an amazing transformation since the advent of the internet. Technology has now made it possible for smaller investors to play on the same level as larger corporations and banks. Anyone with a computer and a will to succeed can start trading currencies from the privacy of their home or office. Online FOREX trading has changed the way that investors do business. With access to your portfolio 24-hours a day, it is really very simple to get started. You can choose whether to hire a professional to handle your transactions, or you could choose to do them yourself.
Also, FOREX trading provides relative large leverage rates to individual traders. FOREX traders can do business with up to 200 to 1 leverage rates. With this advantage, ROI is escalated dramatically and traders can always start up small with capital as little as $1,000.
Getting started in FOREX trading
You don’t need much to get started with FOREX trading. A computer with Internet access, a funded FOREX account with foreign currency exchange broker, and a trading system should be sufficient to get things started.
To reduce the risks of losing money, some basic charting knowledge is as well recommended before you start trading FOREX. FOREX charts assist the investor by providing a visual representation of exchange rate fluctuations. Many variables affect currency exchange rates, such as interest rates, bank policies, geopolitics, and even the time of day may affect exchange rates. As stated by expert FOREX trader Peter Bain, charting is an essential tool in FOREX trading. In his newsletter, he reveals that daily charts, hourly charts, and 15-minute charts are used while trading in FOREX. As quoted from his informative newsletter -- “Daily chart will help you define the overall trend from a position trading point-of-view, and the hourly (one hour) chart will give you a feel for the intraday trend. The 15-minute chart is used for entry and exit – with assistance from the five-minute chart, where price is moving quickly, and you need to be closer to the action.”
Being one of the technical method, FOREX charting is based on the principal ‘history repeats itself’. FOREX traders who study charts predict the market future by evaluating past market performance. The time frame used for charting might differs for different traders, some analyze the past one week, some prefer six months analysis, and there are also traders who analyze the market for the past five to ten years before getting involved in a FOREX trade. A huge variety of FOREX charts are available in the market. Some charting methods are very simple, using a few FOREX indicators to show trading direction; other charts may include up to forty indicators and those are mainly for advance traders that are more skillful. MACD Divergence, RSI, RSI range, and price are some of the well known indicators in charting.
Choosing the right FX dealer is a way to avoid unnecessary risks. FOREX dealers are not all regulated the same way. Although FOREX dealers must be regulated by law, firms and individuals can solicit retail accounts for FOREX dealers and manage those accounts without being regulated. As a trader you should take up the responsibility of finding out if your FOREX dealers are regulated. If they are not, you may be exposed to additional risks.
Also, beware of dealers with investment schemes that sounds too good to be true. Pay extra cautions to dealers that you first knew and always look into the investment offers. If you are from United States, you can always refer to CFTF (at http://www.cftc.gov) or NFA (at http://www.nfa.org) for further information.
Conclusions
You come to this article probably because of you are new to FOREX and were looking for some readings on the Internet. To be frank, FOREX can be very profitable but the risk lie beneath is equally great. Remember to always trade with proper investment plan and strategy. Read books, attend courses, watch video seminars, read papers, or even practice first with a dealer’s demo account to get yourself ready. Trade smartly, and gain the maximum out of FOREX – good luck!
What are the best forex trading hours?
What are the best forex trading hours?
Answer:
The best time to trade the forex markets is between 9:00pm and 12:00midnight ( local ). These are basically the hours of the London market with the last 3 hours being in overlap with the US market. This is the time when the most traders and biggest banks are in the markets making their trades. It is widely considered the most profitable time to trade.
Btw during this window period the cost of the trade - the spread ( in pip ) is also the smallest, meaning cheaper to trade.
Answer:
The best time to trade the forex markets is between 9:00pm and 12:00midnight ( local ). These are basically the hours of the London market with the last 3 hours being in overlap with the US market. This is the time when the most traders and biggest banks are in the markets making their trades. It is widely considered the most profitable time to trade.
Btw during this window period the cost of the trade - the spread ( in pip ) is also the smallest, meaning cheaper to trade.
The Best Times to Trade the US Dollar
Introduction:
The US is the second largest trading center in the world. It is the third trading session of the day, following the European session. Trading during this session constitutes twenty-two percent of the world’s total currency trading volume for the day. In this respect, it is very similar to volume during the Asian-Pacific session. Since New York gets the largest share of the region’s trading volume (19 percent), it is the headquarters for the US trading session. The major currency focus during the US session is the US Dollar (USD). The high value of US Dollar-transactions leads to high volatility and volume levels.
Session Hours:
The US Session runs from 10pm to 5am ( local ).
For Risk-Tolerant Traders:
The US session presents a moderate to high risk for traders. It can present unique challenges to risk-tolerant traders because of its interaction with the stock and bond markets.
Currency pairs with good pip movements during this session are:
* GBP/USD
* GBP/JPY
* USD/JPY
The average pip range is approximately 95 pips. The USD/EUR is also a strong alternative during this session, but can make even larger moves during the European-US crossover session.
Another viable option is the USD/CAD, which averages 84 pips during the session.
For Risk-Averse Traders:
The European session presents a moderate to high risk to traders. During this session, price changes with European currencies can be quick and erratic, particularly after the European session has closed.
Currency pairs with lower risk during this session are:
* EUR/GBP
* EUR/CHF
* NZD/USD
The average pip range is approximately 45 pips.
My Thoughts:
The US session is very exciting and challenging. Economic data is usually released early in the morning (between 8:30pm and 10:00pm) and certain reports cause the FX market to move during the US session. A huge number of transactions involve the USD so it will be in constant motion. The bond, stock, and commodities markets are closely connected to the FX market so any news or events that affect those markets will move the USD. This is particularly true for the bond market. Watch for any news or holiday closures in that market because the USD will be affected.
My Basic Trading Practices:
It is both safest and most potentially profitable to focus on trading the USD during this session in either a long or short position. Currency pairs that involve non-major currencies (like the New Zealand Dollar (NZD) or Australian Dollar (AUD)) might be tempting, but they are more suitable for long-term trading or investment positions rather than day trading or swing trading. However, major currencies like the British Pound (GBP), the Swiss Franc (CHF), and the Japanese Yen (JPY) can major strong and reliable price moves.
My Advanced Trading Practices:
My focus during the US session is on trades that are strong trending on the daily or hourly charts. I can usually find currency pairs with an ADX of 30 or 35. These trends will be even stronger when economic data has been released. The Non-farm Payrolls, the ISM Manufacturing Survey, the Consumer Price Index (CPI), the Gross Domestic Product (GDP) and the Retail Sales report are the biggest USD movers. Fed meetings and decisions will also move the USD in big and sometimes surprising ways. However, do not ignore the power of the European Central Bank (ECB) and Bank of England (BOE) to put pressure on the USD.
The US is the second largest trading center in the world. It is the third trading session of the day, following the European session. Trading during this session constitutes twenty-two percent of the world’s total currency trading volume for the day. In this respect, it is very similar to volume during the Asian-Pacific session. Since New York gets the largest share of the region’s trading volume (19 percent), it is the headquarters for the US trading session. The major currency focus during the US session is the US Dollar (USD). The high value of US Dollar-transactions leads to high volatility and volume levels.
Session Hours:
The US Session runs from 10pm to 5am ( local ).
For Risk-Tolerant Traders:
The US session presents a moderate to high risk for traders. It can present unique challenges to risk-tolerant traders because of its interaction with the stock and bond markets.
Currency pairs with good pip movements during this session are:
* GBP/USD
* GBP/JPY
* USD/JPY
The average pip range is approximately 95 pips. The USD/EUR is also a strong alternative during this session, but can make even larger moves during the European-US crossover session.
Another viable option is the USD/CAD, which averages 84 pips during the session.
For Risk-Averse Traders:
The European session presents a moderate to high risk to traders. During this session, price changes with European currencies can be quick and erratic, particularly after the European session has closed.
Currency pairs with lower risk during this session are:
* EUR/GBP
* EUR/CHF
* NZD/USD
The average pip range is approximately 45 pips.
My Thoughts:
The US session is very exciting and challenging. Economic data is usually released early in the morning (between 8:30pm and 10:00pm) and certain reports cause the FX market to move during the US session. A huge number of transactions involve the USD so it will be in constant motion. The bond, stock, and commodities markets are closely connected to the FX market so any news or events that affect those markets will move the USD. This is particularly true for the bond market. Watch for any news or holiday closures in that market because the USD will be affected.
My Basic Trading Practices:
It is both safest and most potentially profitable to focus on trading the USD during this session in either a long or short position. Currency pairs that involve non-major currencies (like the New Zealand Dollar (NZD) or Australian Dollar (AUD)) might be tempting, but they are more suitable for long-term trading or investment positions rather than day trading or swing trading. However, major currencies like the British Pound (GBP), the Swiss Franc (CHF), and the Japanese Yen (JPY) can major strong and reliable price moves.
My Advanced Trading Practices:
My focus during the US session is on trades that are strong trending on the daily or hourly charts. I can usually find currency pairs with an ADX of 30 or 35. These trends will be even stronger when economic data has been released. The Non-farm Payrolls, the ISM Manufacturing Survey, the Consumer Price Index (CPI), the Gross Domestic Product (GDP) and the Retail Sales report are the biggest USD movers. Fed meetings and decisions will also move the USD in big and sometimes surprising ways. However, do not ignore the power of the European Central Bank (ECB) and Bank of England (BOE) to put pressure on the USD.
Best trading hour for Forex
What is the Best Time to Trade Forex?
In the 24-hour Forex market, timing is critical. Choosing the best time to trade is a powerful way to maximize the profit potential of every trade. Professional traders know this secret. They carefully choose the timing of their trades to produce the most profits. You can make this same choice — and maximize your profits on every trade. In short, you can choose to trade the Power Hours. Let’s examine what gives the Power Hours their remarkable potency. This can be summarized in two words: volume and volatility.
What Are The Power Hours?
The Power Hours are the times when volume and volatility rise to peak levels. High trading volume means that many lots of a particular currency pairs are being bought and sold. High volatility means that currency pair prices are moving fast and trending quickly.
The combined force of high volume and strong volatility can cause large pip movements in nearly every major currency pair during the Power Hours.
When Are The Power Hours?
The Power Hours run from 9pm to 12midnight ( Local time ).
Yes, the most active trading period lasts only four hours every day! This is the US-European overlap session, which is the time when the world’s two most active trading centers cross -- as the European session is closing and the US session is opening. It is a small, but very active, window that some currency traders call the “hot zone.” And many professional traders focus their best efforts on trading during those four powerful hours.
Which Currencies Should I Trade During the Power Hours?
Look for the following currencies to make the largest pip movements during the Power Hours.
* EUR/USD
* USD/CHF
* USD/CAD
* GBP/JPY
* GBP/CHF
Are You Busy During The Power Hours?
There are other trading times that can produce good results though usually not as dramatic as in the Power Hours. The European and the U.S. sessions can also show strong volume and volatility for trading. Remember, they are the world’s two largest trading centers so the trader can still find good price action.
The European Session
The European session is headquartered in London. The large number of market participants has made London the world’s most volatile market for trading currencies. And it links with both the Asian and American sessions.
Look at the GBP/JPY and the GBP/CHF for strong price movements as European assets are converted into dollar-denominated assets. These conversions can cause the currencies to make strong price movements.
Be prepared to stay up late, because the European session runs from 3pm to 12midnight ( Local - EST ).
European Session Watch List:
* GBP/CHF
* GBP/JPY
* USD/CHF
* GBP/USD
* USD/CAD
The US Session
The US session is headquartered in New York. The GBP/JPY and USD/CHF show high volume and volatility during this time since their transactions require US dollars. Trading during this session becomes even more active when the US stock and bond markets open because foreign investors need to convert their currencies into dollar-dominated assets. The GBP/CHF often makes strong price movements during this period.
The US session runs from 10pm to 5am ( local )
US Session Watch List:
* GBP/CHF
* GBP/JPY
* USD/CHF
* GBP/USD
* USD/CAD
When Should I Avoid Trading?
The least active time to trade -- dare we call it the “cold zone” -- is the European-Asian overlap session. Most traders are sleeping (or taking a nap) during this short period. Trading volume is very thin and trends are unpredictable during this period. Stay out of the cold zone! However, this is a good time to get prepared for the opening of the European session.
The cold zone runs from 1pm to 3pm ( local )
Remember, timing is a strong and important tool that action-seeking traders can use to find strong price movements. The Power Hours open a window for many trading opportunities. So, be prepared to trade like (and with) the professionals to make quick profits during these powerful hours.
In the 24-hour Forex market, timing is critical. Choosing the best time to trade is a powerful way to maximize the profit potential of every trade. Professional traders know this secret. They carefully choose the timing of their trades to produce the most profits. You can make this same choice — and maximize your profits on every trade. In short, you can choose to trade the Power Hours. Let’s examine what gives the Power Hours their remarkable potency. This can be summarized in two words: volume and volatility.
What Are The Power Hours?
The Power Hours are the times when volume and volatility rise to peak levels. High trading volume means that many lots of a particular currency pairs are being bought and sold. High volatility means that currency pair prices are moving fast and trending quickly.
The combined force of high volume and strong volatility can cause large pip movements in nearly every major currency pair during the Power Hours.
When Are The Power Hours?
The Power Hours run from 9pm to 12midnight ( Local time ).
Yes, the most active trading period lasts only four hours every day! This is the US-European overlap session, which is the time when the world’s two most active trading centers cross -- as the European session is closing and the US session is opening. It is a small, but very active, window that some currency traders call the “hot zone.” And many professional traders focus their best efforts on trading during those four powerful hours.
Which Currencies Should I Trade During the Power Hours?
Look for the following currencies to make the largest pip movements during the Power Hours.
* EUR/USD
* USD/CHF
* USD/CAD
* GBP/JPY
* GBP/CHF
Are You Busy During The Power Hours?
There are other trading times that can produce good results though usually not as dramatic as in the Power Hours. The European and the U.S. sessions can also show strong volume and volatility for trading. Remember, they are the world’s two largest trading centers so the trader can still find good price action.
The European Session
The European session is headquartered in London. The large number of market participants has made London the world’s most volatile market for trading currencies. And it links with both the Asian and American sessions.
Look at the GBP/JPY and the GBP/CHF for strong price movements as European assets are converted into dollar-denominated assets. These conversions can cause the currencies to make strong price movements.
Be prepared to stay up late, because the European session runs from 3pm to 12midnight ( Local - EST ).
European Session Watch List:
* GBP/CHF
* GBP/JPY
* USD/CHF
* GBP/USD
* USD/CAD
The US Session
The US session is headquartered in New York. The GBP/JPY and USD/CHF show high volume and volatility during this time since their transactions require US dollars. Trading during this session becomes even more active when the US stock and bond markets open because foreign investors need to convert their currencies into dollar-dominated assets. The GBP/CHF often makes strong price movements during this period.
The US session runs from 10pm to 5am ( local )
US Session Watch List:
* GBP/CHF
* GBP/JPY
* USD/CHF
* GBP/USD
* USD/CAD
When Should I Avoid Trading?
The least active time to trade -- dare we call it the “cold zone” -- is the European-Asian overlap session. Most traders are sleeping (or taking a nap) during this short period. Trading volume is very thin and trends are unpredictable during this period. Stay out of the cold zone! However, this is a good time to get prepared for the opening of the European session.
The cold zone runs from 1pm to 3pm ( local )
Remember, timing is a strong and important tool that action-seeking traders can use to find strong price movements. The Power Hours open a window for many trading opportunities. So, be prepared to trade like (and with) the professionals to make quick profits during these powerful hours.
Friday, November 27, 2009
All trading - Forex and stocks
Yes....all sort of trading, it's a form of gambling. It's win or lose....and always a Zero-sum game. Some win....others loss. But for Forex and Stock....the chance of winning for a beginner or newbie is very slim. For most of the time....it is 5% winning over the rest of the 95%. Meaning....to be a winner, it takes lots of luck and skill.
But in truth....I don't have much of both. So....I must rethink what I need to do with whatever I have got left with me now. To invest more to learn more....or to learn as I go while trading "small". Guessed since I have already throw in the capital to learn, best....to back-test the system/method with doing live-trades both for Forex and Stocks in equal amount. To trade small....until I can get my confidence back eg when I can show a positive P & L at end of next March. ( believed that if I test myself for at least 4 full months using all the methods in the trading system - which is trading and winning in up, down and side-way market conditions ) then when I get my "package" from my company...I shall then trade "big" for the last SHOT for myself. Failure is not an option then!!!
Any advice????
But in truth....I don't have much of both. So....I must rethink what I need to do with whatever I have got left with me now. To invest more to learn more....or to learn as I go while trading "small". Guessed since I have already throw in the capital to learn, best....to back-test the system/method with doing live-trades both for Forex and Stocks in equal amount. To trade small....until I can get my confidence back eg when I can show a positive P & L at end of next March. ( believed that if I test myself for at least 4 full months using all the methods in the trading system - which is trading and winning in up, down and side-way market conditions ) then when I get my "package" from my company...I shall then trade "big" for the last SHOT for myself. Failure is not an option then!!!
Any advice????
Forex trades
Just before coming to work....just open pc to check what going on with the Forex market with the Dubai debt repayment issue. Also remember that for most of the week, I understand that the USD is losing stream but this being Friday and surely people would want to lock in the profit before the weekend...the USD should be able to recover somehow.
Yes...Eur/USD did went up back to the level of last Friday. Meaning the Eur is falling vs the USD....so, I went short but within 1 min of trade I was down by 10pips. Shit! so I immediately closed position and went in "long" ( remembering the topic of human fear and greed thingy ). And true enough....I was able to close my position with about 95 pips gain hahaha in 10 mins.
This goes to show that....human over-reacted most of the times and once they realised it they tend to react the opposite. Both times...over do it.
So....back to the point of the coming Monday, the stock market here will immediately shoot downwards with the first 20 to 30 mins of opening. If I have not went in, I would have a pocket full of bullets ready to do battle but since I am already in. I have to not over react to the news. But to look for opportunity to cut loss and wait while nursing my wounds hehehe! Sighed....shit!
Yes...Eur/USD did went up back to the level of last Friday. Meaning the Eur is falling vs the USD....so, I went short but within 1 min of trade I was down by 10pips. Shit! so I immediately closed position and went in "long" ( remembering the topic of human fear and greed thingy ). And true enough....I was able to close my position with about 95 pips gain hahaha in 10 mins.
This goes to show that....human over-reacted most of the times and once they realised it they tend to react the opposite. Both times...over do it.
So....back to the point of the coming Monday, the stock market here will immediately shoot downwards with the first 20 to 30 mins of opening. If I have not went in, I would have a pocket full of bullets ready to do battle but since I am already in. I have to not over react to the news. But to look for opportunity to cut loss and wait while nursing my wounds hehehe! Sighed....shit!
Luck is as important as health for a person
Yes....in order to be enjoying the good things in life, one must has both good health and luck. So that....can have lots of money and able to spend them. This is not rocket science also....not so important to be too smart.
See, what I am trying to say is just look at me now! I am ready for battle in the stock market after going thru the course and understanding what it takes to "WIN". Had done back-testing of the system and confirmed it does work for most people and times. Went into the market on Tue....wow almost immediately the stock I bought went up. Next day......Wednesday, it went up further. So...powerful, went on to monitor other stocks with the system and bought Olam, Wilmar and SembMar then went to sleep. Shit....when woke up at nearly 5pm to get ready for work, checked the pc and my eyes just can't believe it. All 3 stocks went down....then checked on the news. Dubai...debt issue plus some China banks tightening of loans....and the most asian markets went down. I didn't sell....in fact, no time to think so no sell...even think today has trading. Totally forget about the holiday thingy too. WTF!
Today....HKSE went down 1000+ points and Asian market kena "HIT", now US market also kena "HIT". WTF!!!!
Now I am asking what is happening with my luck? I am prepared to do well in the stock market after thinking that I have got a good system in order to win. Now this? Who would have think of what happen in Dubai has anything to do with the rest of the world? And I was wrong with that thinking. No go in....no need to worry.
That is why.....luck is as important as good health to a person in order to have a good life. SHIT!!!
See, what I am trying to say is just look at me now! I am ready for battle in the stock market after going thru the course and understanding what it takes to "WIN". Had done back-testing of the system and confirmed it does work for most people and times. Went into the market on Tue....wow almost immediately the stock I bought went up. Next day......Wednesday, it went up further. So...powerful, went on to monitor other stocks with the system and bought Olam, Wilmar and SembMar then went to sleep. Shit....when woke up at nearly 5pm to get ready for work, checked the pc and my eyes just can't believe it. All 3 stocks went down....then checked on the news. Dubai...debt issue plus some China banks tightening of loans....and the most asian markets went down. I didn't sell....in fact, no time to think so no sell...even think today has trading. Totally forget about the holiday thingy too. WTF!
Today....HKSE went down 1000+ points and Asian market kena "HIT", now US market also kena "HIT". WTF!!!!
Now I am asking what is happening with my luck? I am prepared to do well in the stock market after thinking that I have got a good system in order to win. Now this? Who would have think of what happen in Dubai has anything to do with the rest of the world? And I was wrong with that thinking. No go in....no need to worry.
That is why.....luck is as important as good health to a person in order to have a good life. SHIT!!!
Thursday, November 26, 2009
Wah rao
Most of the European markets are down heavily today...same same with the earlier closed in Asian markets.
Will have to keep both eyes fully open on monday when market opens then may have to cover some the capital. At the end of days....at most the T3B system teached us to protect against big losses....must cover "stop-lost" and to lose no more than 8% for any trade. That way...can live to fight and another day.
Will have to keep both eyes fully open on monday when market opens then may have to cover some the capital. At the end of days....at most the T3B system teached us to protect against big losses....must cover "stop-lost" and to lose no more than 8% for any trade. That way...can live to fight and another day.
Thursday trading up-date
Bought Noble on Tue....when it broke peak at 2.89 and still holding it with the closing price of 3.07.
But due to itchy backside....bought Olam, SembMar and Wilmar today and all 3 are showing negative dollar signs SHIT!!!
Now since got time to review the trades....I know what was wrong today. 1st...it's a holiday on Friday so today was last day for this week, that being so...there ia a sold off for today lor. Esp since it was a profitable period for the past couple of weeks. Time for profit taking. 2nd.....about the China tightening loans and also the Dubai thingy....they are badly impacted by the meltdown and their falling home sales and prices. Over building....so, money not enough hehehe.
About the T3B system....guessed lots of big boys also attended the course and they too have came up with their plan to beat the system. In fact....all the stock trading courses follow the same old strict rules....break peak buy...break trough sell. We are told to strictly follow this rule....but after today's trading I feel that we newbies are taken for a "ride" and we are bailing out the big boys at their high prices. Now....I will act slightly differently from the book. Seem that the Lead Trainer would listed out his thots every Sunday...I shall take his advice and think out a plan to take max advantage of the said situation.
But due to itchy backside....bought Olam, SembMar and Wilmar today and all 3 are showing negative dollar signs SHIT!!!
Now since got time to review the trades....I know what was wrong today. 1st...it's a holiday on Friday so today was last day for this week, that being so...there ia a sold off for today lor. Esp since it was a profitable period for the past couple of weeks. Time for profit taking. 2nd.....about the China tightening loans and also the Dubai thingy....they are badly impacted by the meltdown and their falling home sales and prices. Over building....so, money not enough hehehe.
About the T3B system....guessed lots of big boys also attended the course and they too have came up with their plan to beat the system. In fact....all the stock trading courses follow the same old strict rules....break peak buy...break trough sell. We are told to strictly follow this rule....but after today's trading I feel that we newbies are taken for a "ride" and we are bailing out the big boys at their high prices. Now....I will act slightly differently from the book. Seem that the Lead Trainer would listed out his thots every Sunday...I shall take his advice and think out a plan to take max advantage of the said situation.
Thursday
Another 2 more nights to go after tonight, then....4 days of rest ( man! just thinking of that...is making me feel GOOD!!! ). Plan is....to clock in some sleep time. I am like a zombie lately.
Then....to come up with a action plan for the stock and forex trading thingy. Has to plan what I view the markets to be.....up, down or sideways then trade accordingly to the plan. Have no plan...is like planning to fail but for my case....to lose money lor which I won't be happy afterwards.
Lately...work is getting super tough due to the "ramp-up" and shortage of workers but then again....the bosses won't want to know. Anyway just hope to get thru this period asap so that I can do the things I want to do later. Eg....if possible, to be able to be a full-time trader. That would be great....to have lots of time on hands to do plan review daily before trading then key-in the trades. Forex...and CFDs are all thru AUTO-trading platforms eg Onada and MF Global.
Or....to get a simple 9 to 5 job or it is okay even to land a night shift one. One that can allow me know to think and review my trades and do my planning for the next trading. Would want to quit the insurance and housing ones after all these years. For AIA...not a issue if I go for semi-retirement since I am already 20 yrs in the service with them. That way...I still can keep in touch with all my clients and friends.
Then....to come up with a action plan for the stock and forex trading thingy. Has to plan what I view the markets to be.....up, down or sideways then trade accordingly to the plan. Have no plan...is like planning to fail but for my case....to lose money lor which I won't be happy afterwards.
Lately...work is getting super tough due to the "ramp-up" and shortage of workers but then again....the bosses won't want to know. Anyway just hope to get thru this period asap so that I can do the things I want to do later. Eg....if possible, to be able to be a full-time trader. That would be great....to have lots of time on hands to do plan review daily before trading then key-in the trades. Forex...and CFDs are all thru AUTO-trading platforms eg Onada and MF Global.
Or....to get a simple 9 to 5 job or it is okay even to land a night shift one. One that can allow me know to think and review my trades and do my planning for the next trading. Would want to quit the insurance and housing ones after all these years. For AIA...not a issue if I go for semi-retirement since I am already 20 yrs in the service with them. That way...I still can keep in touch with all my clients and friends.
Wednesday, November 25, 2009
It's a month ago since I posted my update.
Wah....pang! just realised that it has been a month ago that I up-date here. And during that time....hardly had time to breath easy be it WORK ( shit, gotto cover for other's leave and production ramp-up ), attending courses ( spent both time and money....and still gotto make time for homework's and weekly meet-up during the evening for mentoring sessions ) and also attending training hours for AIA thingy since it's already towards the end of year thingy plus meetings and meetings.
For the next few months...I expect things will be more busier and free time will be rare thing plus sleeping time will also suffer. Can only hope....I can last thru these all and to see my efforts paid off. ( Retrench with a nice package and with time to do things I can truly enjoyed doing vs....stress, pressured, kena fxxked like now ). By then....my eldest daughter should have graduated and working to help out with part of the rental for the house and car. Maybe by then...she will be doing most of the driving.
For the next few months...I expect things will be more busier and free time will be rare thing plus sleeping time will also suffer. Can only hope....I can last thru these all and to see my efforts paid off. ( Retrench with a nice package and with time to do things I can truly enjoyed doing vs....stress, pressured, kena fxxked like now ). By then....my eldest daughter should have graduated and working to help out with part of the rental for the house and car. Maybe by then...she will be doing most of the driving.
4D up-date
No luck....lately, but didn't open....stopped then immediately "open". Luckily just came in as starter so not so heartpain lor.
Up-date - Wednesday
Wah....it was a while since I last up-dated here and lots of things have changed. Work is still tough....cannot enough headcount but work must still be done. So....it is tough for everyone, but for myself the added stress is the expectation is not reduced and due to the ramp-up....it is like in HELL. Pressed the workers too hard...they just go on mc which is still easily available from the clinics. So...just gotto managed the workers and boss's expectation carefully.
I went thru the 8-weeks Forex course which just ended on last Monday....but since I signed up for the extended 6mths course, I still have to go every Tuesday's afternoon for the next 4 mths.
For the T3B - Wealth Management course, I went for the 2.5days course ( Sat, Sun and Mon ) and really enjoyed it. This really gave me my confidence back for stock trading
and this time....I'm really confident to make money. If not...then, even I mati I won't be missed. REALLY!!!! becoz the method must be strictly followed....no need to be too smart esp for when to buy and sell. Just a simple rule....buy at break peak, and sell at break trough. No break...no buy or sell. SIMPLE right???
My opinion for the courses....Forex - this is something totally alien to me but since I go with an open mind, I have no regret to spend the money for it anyway it is just 2mth's old....gotto go for another 4 mths to really judge whether or not it is right for me. The fee was 3.3K then money needed to fund the account with Onada for trading. That's another few more thousands.
As for the T3B one....even just after the 2.5 days thingy, my confidence for the whole method thingy is really sky-high even that I have not open the CFD - DMA to actively trade. I have done the back testing....and side testing and at the end of it, still considered this one really worthed my while and expense. Not cheap......
just be the course it is already 3.1K plus another 600+ for the trader screener's software. Then....for the CFD-DMA account, gotto pay for the Reuters' data feed and since I opened 2 trade areas ( SGX and Hang Seng ) that would be another 100+ every mth which can be off-set if I have a minimum of 4 trades per mth. Then the funding for the account.
In total for the 2 courses and funding plus other expenses....already set me back by 25K. Well...most ( 70% ) of it went to the funding part and this is still part of my inital layout for trading. Will have to add....as I trade more that is if things went well and smooth for me. I will also be a full-time trader....meaning I hope this will provide me with a steady income every month which is about the same as what I am getting now. I want to quit my other part-time jobs...insurance and house agent. So much attention and time for so little income and yet....kena lots of stress and pressure from clients and bosses.
Hopefully too....if everything goes as plan, I maybe go for a simple job with a small pay just to take off some of my free time. Man with lots of free time....will be tempted to do other foolish things hahaha.
I went thru the 8-weeks Forex course which just ended on last Monday....but since I signed up for the extended 6mths course, I still have to go every Tuesday's afternoon for the next 4 mths.
For the T3B - Wealth Management course, I went for the 2.5days course ( Sat, Sun and Mon ) and really enjoyed it. This really gave me my confidence back for stock trading
and this time....I'm really confident to make money. If not...then, even I mati I won't be missed. REALLY!!!! becoz the method must be strictly followed....no need to be too smart esp for when to buy and sell. Just a simple rule....buy at break peak, and sell at break trough. No break...no buy or sell. SIMPLE right???
My opinion for the courses....Forex - this is something totally alien to me but since I go with an open mind, I have no regret to spend the money for it anyway it is just 2mth's old....gotto go for another 4 mths to really judge whether or not it is right for me. The fee was 3.3K then money needed to fund the account with Onada for trading. That's another few more thousands.
As for the T3B one....even just after the 2.5 days thingy, my confidence for the whole method thingy is really sky-high even that I have not open the CFD - DMA to actively trade. I have done the back testing....and side testing and at the end of it, still considered this one really worthed my while and expense. Not cheap......
just be the course it is already 3.1K plus another 600+ for the trader screener's software. Then....for the CFD-DMA account, gotto pay for the Reuters' data feed and since I opened 2 trade areas ( SGX and Hang Seng ) that would be another 100+ every mth which can be off-set if I have a minimum of 4 trades per mth. Then the funding for the account.
In total for the 2 courses and funding plus other expenses....already set me back by 25K. Well...most ( 70% ) of it went to the funding part and this is still part of my inital layout for trading. Will have to add....as I trade more that is if things went well and smooth for me. I will also be a full-time trader....meaning I hope this will provide me with a steady income every month which is about the same as what I am getting now. I want to quit my other part-time jobs...insurance and house agent. So much attention and time for so little income and yet....kena lots of stress and pressure from clients and bosses.
Hopefully too....if everything goes as plan, I maybe go for a simple job with a small pay just to take off some of my free time. Man with lots of free time....will be tempted to do other foolish things hahaha.
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