I made these 3 indicators using rainbow indicator templates. I only change the period of the moving averages. The idea was to use these MAs without adding them one by one on my chart, also it looks nicer ;P The lower fibo (blue) periods are 5 EMA and 13 EMA, middle fibo are 21 EMA and 34 EMA, and the upper fibo periods are 55 EMA and 89 EMA. My idea of using these indicators is crossover of course, but I haven't got the time to test them. I've been busy with college assignments :( Well below is the picture and I hope you like it.
Wednesday, October 29, 2008
Thursday, October 2, 2008
September Result
What's up guys.. September sucks! I'm sad to say that I almost bankrupt. I lose 97.83% from my beginning balance on September. I need to win 4500.10% from my current equity to get it back. Can you imagine that! I lose in just a week, with 5 positions, got margin call on 2 of them, and then decided to close the rest. It was when GBP/JPY took a dive on the first week of September.
Why? Well let's not talk about that since the reasons are the same like before. Since that loss, I got this post-almost bankrupt- syndrome, which is losing more:P Haunted by the losses, afraid to lose again, wanted to get revenge, etc. My trading performance was up and down.(see daily result)
The good news is I think I got my exit strategy for the 5-13-21 EMA system. I also add another EMA actually and will post the system within this month, hopefully. I will also add the indicators for the download section. Bye..;)
Why? Well let's not talk about that since the reasons are the same like before. Since that loss, I got this post-almost bankrupt- syndrome, which is losing more:P Haunted by the losses, afraid to lose again, wanted to get revenge, etc. My trading performance was up and down.(see daily result)
The good news is I think I got my exit strategy for the 5-13-21 EMA system. I also add another EMA actually and will post the system within this month, hopefully. I will also add the indicators for the download section. Bye..;)
Saturday, August 30, 2008
August Result
I'm very happy to announce that I have gain back my capital, and with some profit:) (See Mid-August Result). This was indeed a very good month for me. But of course, I can get back my losses by adding new capital, and it was quite a lot of capital for me. I feel like my journey in Forex is getting serious more than ever. Okay enough of this happy thing! Below is August daily return. Zero percent means that I didn't trade that day.
I got 934 pips this month, which is 34.20% profit. I trade smaller risk than I used to. I didn't trade on Tuesday and Wednesday last week as well as yesterday. I got 23 winning trades and 10 losing trades in 2 weeks, with only one losing day. This is just one month and what I know is the market takes a lot faster than it gives. So we'll see next month;P I hope I can be consistent.True Balance Sheet
I have another journal that kept all my results since the very beginning, which is in July last year. I used to calculate them as my learning costs;P Apparently, the profit this month is able to cover it all, boost my portfolio to the positive number.
I also calculate the operating cost (internet provider service). My parents still paying them so I calculate them as debt. I'm still quite far to pay this debt and it is a challenge for because the debt increases each month. Well my parent might not expect me to pay the internet cost, but I just like to know the cost. One day I will have to pay it myself.
I will talk about the system more next month and post the third part of Pairs Correlation about beta analysis. I hope that all of you had a good month also. September is ahead of us and we'll enter Ramadhan for moslems. Have a nice weekend guys!
I also calculate the operating cost (internet provider service). My parents still paying them so I calculate them as debt. I'm still quite far to pay this debt and it is a challenge for because the debt increases each month. Well my parent might not expect me to pay the internet cost, but I just like to know the cost. One day I will have to pay it myself.
I will talk about the system more next month and post the third part of Pairs Correlation about beta analysis. I hope that all of you had a good month also. September is ahead of us and we'll enter Ramadhan for moslems. Have a nice weekend guys!
Thursday, August 28, 2008
Pairs Correlation Part II
In the first part of this topic, we know that GBP/JPY followed USD/JPY. And to know where USD/JPY movement, I use the Dow Jones Index. Of course I can only use it in US session by hourly chart. I don't use the Dow for the Asia or Europe session. I'll talk about it later. Now let's see the DJ Index correlation table below.
I use daily close price data for this anaysis. I think hourly close price data is more reliable but daily price seems fine by me. The table above shows that USD/JPY moved to the same direction as the Dow 53.74% of the time in May, 75.86% in June, and 63.88% in July this year.So how to use those data? Well the simplest way I can think is when the Dow is bullish, then USD/JPY also bullish, we long on GBP/JPY. So if I know where USD/JPY going to move, why don't I just trade the pair? Well because GBP/JPY is more volatile than USD/JPY and I feel more comfortable with that;)
Sample Trade
USD/JPY Chart 1 Hour
GBP/JPY Chart 1 Hour
I long GBP/JPY yesterday and today at the circled candle on the picture above. I entered based on 3 reasons: USD/JPY was at support level, GBP/JPY was also at support level, and GBP/JPY has been on a down trend (5-13-21 EMA System) since Monday, meaning that it could reverse anytime soon. What happened after that was the trend remains;P But the pair did retrace about a hundred pips:)
I will post the Beta Coefficient analysis next on the third part.
Continue to part III
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