Rain's Quote
My first interaction with forex was GBP/JPY, but more deep involved with forex, I learn that it's not about how you make a lot of profit, it's not about how fast you will gaining hundreds of pips. It's all about how you dealing with your psychological factors, how you manage your risk and stabilize your profit. It's true that GBP/JPY could give you hundreds of pips in an hour or less but it could take your all margin either.A fiew month ago, I decided reduce my trade in GBP/JPY and try to play in EUR/USD,It's hard time when I must learn new behaviour becouse trading in EUR/USD is not same thing dealing with GBP/JPY. EUR/USD has own rhythm. Based on that I decided to make this blog, I want to share with everyone about my journey to change my behaviour and I hope,you can feel the same thing, that it's not too late to learn something new and there is always new things to learn in forex market. Don't stop learn,once you stop it is same thing that you are dead. There is a lot thing I want to write but my limitation in english make it hard to me to wrtite, but I don't want give up. I believe, someday english would not be my constraints to write and share with you. My motto : Learn First, Wealth Will Follow.
My opinion for today, may 19, 2009 ( 10.06 AM GMT +7 )
TF 30:
Previous day Hi at 1.3565, and price steady in Hi area, EMA 5 and 20 already cross up to EMA 66 and price steady above, in my opinion that indicated strong bullish. But price not break previous Hi yet, for me it's look likes open a chance a little revrese and I've see 13525 - 13517 area, as long as steady above that area I'm sure bullish still dominate. I've identify nearest resistant from candlestick barrier at 13565 ( yesterday Hi), 13616 and if break posibility will re test 13722
TF 15 :
Patern candle shows reverse indication but weak, posibility it will a lil bit down to 13540, if break low today ( 13529) posibility it will continue to 13516
Additional :
CPI UK this afternoon forecast is bad
My decision :
I set pending order buy limit at : 13546, Stop loss : 13506 and target profit at : 13600
* CHANGING THE PLANN : 01.58 P.M ( GMT +7 )getting closser to News UK, and I've change my plan and force to close my position at 13546 ( + 42 pips) and wait till news from UK pass trough
DISCLAIMER
Trading of financial instruments involves substantial risk, including complete possible loss of principal plus other losses and is not suitable for all members of the public. This blog discusses my experiences and my style of trading. This blog is for entertainment and educational purposes only. The trades discussed here are MY trades. You make your own trades and you and only you are responsible for your trades. Ideas and opinions discussed on this blog are not in any way recommendations to buy or sell securities or investment advise.
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