Forex Trading February (updated) Update - xlt forex trading and analysis sessions

Forex Trading February (updated) Update ~ xlt forex trading and analysis sessions

I would not believe ill be saying this at the beginning of the month but..
. "I didnt burst my account!!!"

Whew! Trading is indeed risky and volatile, if you do not manage it properly. I was experimenting different strategies with different indicators and almost went into a losing position. It was a good think my mentor manage to hit me back on the right track towards the end of the month before my trades turn into profits. 

See my roller coaster ride below...

Trades in the beginning of the month.

Some of my better trades above.


Summary of all trades

Currency pair		Total Profit		Total Loss		Balance
audjpyx		143.04		(52.65)		90.39
audusdx		15.59		(11.50)		4.09
eurgbpx		67.85		(83.05)		(15.20)
eurjpyx		11.65		(52.94)		(41.29)
eurusdx		68.64		(26.05)		42.59
gbpjpyx		6.57		-		6.57
gbpusdx		31.97		(34.50)		(2.53)
nzdjpyx		6.17		-		6.17
nzdusdx		33.22		(42.50)		(9.28)
usdcadx		61.51		(20.80)		40.71
usdjpyx		48.45		(78.62)		(30.17)
TOTAL		494.66		(402.61)		92.05

It is interesting to know i spent more time organizing the data than placing the actual trades. And check out my profits and losses! Its like the case of having to score more goals against the opponent than conceding. However, in this very educational month. I learnt that it was better to trade at the times when the market is open for a particular currency pair as there is more volume and is therefore easier to trade. 

eg. Tokyo Stock Exchange opens at 8am SG time, therefore i will pay more attention to JPY currency pairs.
(I have listed the opening times of some major currencies on right side of my blog for easy reference)

New York opens at 10.30 pm to 5 am (SGD Time)

Tokyo opens at 8 am to 2 pm (SGD Time)

Sydney opens at 7 am to 1 pm (SGD Time)

London opens at 4 pm to 12.30 am (SGD Time)


More info for Forex Trading February (updated) Update ~ xlt forex trading and analysis sessions:

Breakout entry Pullback entry swing setup examples - forex trading hours good friday

Breakout entry Pullback entry swing setup examples ~ forex trading hours good friday

Breakout and pullback conditions for setups.

Before a stock or currency pair makes our breakout “watchlist,” it must satisfy two key criteria:

Stock or currency pair must be in uptrend

Stock or currency pair must have a valid basing configuration pattern.

How define an up trend (for down trend reverse conditions).

20?day EMA must be trading at or near the 50?day MA when the stock is forming a base and clearly above the 50?day MA when in trend mode.  For pullback trades, the 20?day EMA must be above the 50?day MA.

-20?day EMA must be above the 200?day MA

- 50?day MA must be above the 200?day MA

-Both the 50 and 200?day MAs must be in a clear uptrend for at least a

few months. 

- The price action should be in an uptrend with a series of higher highs

and higher lows in place over the past 3 ? 6 months (at the very least).

- Current price should at least be 30 ? 40% above the 52?week low

Trend qualifier – rules for breakout setups in the picures the examples.

rules for breakout setups

rules for breakout setups

rules for breakout setups

Valid basing pattern for breakout entry

- A base (or zone of congestion) is anywhere from 1 month to 1 year in length. For our style of trading, we prefer bases that form in a 1 - 3 month period that find and hold support of the 50-day

MA.

-We want to see “tight” price action in the base, especially during the last two weeks before the breakout.

-A valid base should pullback anywhere from 10 - 30% off the swing high. Once a stock retraces 40 - 50% or more, we begin to question the strength of the uptrend.

We must see a “higher low” form within the base. This is crucial to the pattern. Without a higher low forming, we have no way to set a stop and therefore can not define the risk.

- Volume should be declining during a base, or at the very least, not heavier than average. If there are too many days of heavy volume selling in a base, the base could be faulty.

Main characteristics of a valid base

Main characteristics of a valid base

The Breakout Entry examples.

    

Breakout Entry the trigger

Breakout Entry

A pullback setup occurs when a stock breaks out from a valid basing pattern and then pulls back for 3 – 7 days:

Pullback setup

Pullback Setup

Pullback setup step by step

Reference Deron Wagner

More info for Breakout entry Pullback entry swing setup examples ~ forex trading hours good friday:

The Little B Money Tracker - forex trading hours app

The Little B Money Tracker ~ forex trading hours app

Having a baby is probably one of the most amazing thing that can happen to parents but can also be financially draining at the same time. And yes! The announcement of the coming of our Little B can finally be made as it is now more than 3 months since conception! (It is considered bad luck to announce within the first trimester.)

Therefore i am taking this step to track how much it would actually cost to be a parent these days.

(This list does not include gifts and presents which we received, would be receiving or pass downs from colleagues, friends, relatives and family. I cant put a price tag on all such gifts as they are all a token of love. Therefore a heartfelt thanks to all of you.) 

Special thanks to;

Evon my sister for providing us the baby cot, play pan, baby mattress, milk bottles and other accessories.

Janet, Yan yan and Meixin for providing us tons and tons of pre-loved baby clothes.

Rykiel for providing us some maternity wear. 

Money spent on Little B since conception;

$16.00         Feb 2014  Pregnancy tests at polyclinic                

$85.00         Feb 2014  Baby scan at NUH                     

$6.00           Mar 2014  First piece of clothing for baby                        

$244.00       Mar 2014  Baby scan (10 weeks)                         

$31.00         Mar 2014  Milk powder                               

$25.00         Apr 2014  Bio Oil (stretch mark prevention)        

$9.00           Apr 2014  Bra strap extenders                              

$177.00       Apr 2014  Baby Scan / blood tests(15 weeks)    

$900.00       Apr 2014  Delivery package (12 gynae visits)

$29.00         Apr 2014  Towels / Napkins / Bed sheets

$15.90         May 2014 Book of recipe for maternity month

$57.00         May 2014 Maternity pants x3

$9.00           May 2014 Top and shorts for Little B x3 (sale item leh)

$8.70           May 2014 Lactus - Constipation relief

$163.70       May 2014 Detailed Ultrasound Scan for baby body measurements

$74.00         May 2014 Medication / Supplements (Baby Checkup @ 18 weeks)

$25.00         May 2014 Bio Oil x2

$6.00           May 2014 Changing Mat

$9.50           May 2014 Cot Sheets 

$7.90           June 2014 Fan for stroller

$21.00         June 2014 Maternity Dress

$4.00           June 2014 Clip-ons for stroller

$21.40         June 2014 Iron-ons for baby bibs

$595.00       July 2014 prenatal insurance 

$1200.00     July 2014 savings plan insurance 1st year

$50.00         July 2014 good as new baby stroller (heavily discounted, U.P $300) - thanks Aliza 

$59.40         July 2014 Medela milk bottles x6 (price after trade in)

$10.00         July 2014 Nursing Bra

$74.00         July 2014 Medicine & Supplements (Baby Checkup @ 27 weeks) 

$90.00         Aug 2014 Tonic and Herbs

$55.00         Aug 2014 Medicine & Supplements (Baby Checkup @ 31 weeks) 

$24.00         Aug 2014 Maternity dress and Top

$199.25       Aug 2014 Accu Check Test Kit for Glucose Level

$120.00       Aug 2014 Maternity Photo Shoot

$75.80         Aug 2014 Wet wipes, shampoo, detergents

$10.00         Aug 2014 Liverpool Romper

$10.00         Aug 2014 Milk bottle stand for milk bottles

$15.00         Aug 2014 Breastmilk storage bags 

$8.00           Aug 2014 Spill free cup

$39.90         Aug 2014 Baby Carrier

$16.90         Sep 2014  Ginger Shampoo from Bodyshop

$2.30           Sep 2014  Container for Mittens and Booties

$50.00         Sep 2014  Infection Test (Baby Checkup @ 36 weeks) 

$18.00         Sep 2014  Sauces and Herbs for Confinement meals 

$6.60           Sep 2014  Mittens and Booties 2 sets

$150.00       Sep 2014  Chinese Name from Visiber

$15.00         Sep 2014  CTG scan (Baby Checkup @ 37 weeks) 

$12.95         Sep 2014  Chicken Essence

$9.00           Sep 2014  Coconut (Every friday for 6 weeks) 

$5.90           Sep 2014  Pureen Baby Shampoo 

TOTAL COST : $4,867.10

($8011.66 including delivery and hospitalization charges)

And Finally!!!! In the early hours of 30 September 2014. Chloe was born!!!

After months and months of eager anticipation and preparation, we finally got down to this very day!!! What an amazing journey it has been!!! The road ahead is definitely going to be more challenging in monetary terms but definitely one that will be filled with much love, joy and happiness and of course...sleepless nights. 

I will try to keep this money tracker list going on for as long as possible. But for now lets start with some real world costs; 

Real World Costs 

$4.50               Oct 2014  fever patch

$4.00               Oct 2014  nose cleaner

$120.00           Oct 2014  First checkup with Gynae after giving birth

$20.00             Oct 2014  pillow set with 2 bolsters

$10.00             Oct 2014  swaddle

$15.00             Oct 2014  romper pack of 5

$7.00               Oct 2014  syringe for milk

$18.00             Oct 2014  polyclinic for jaundice checkup 

$42.00             Oct 2014  Birth certificate registration at Mount Alvernia

$5.65               Oct 2014  Petpet newborn diapers

$3144.56         Oct 2014  Baby delivery plus hospital costs ($2100 deduct from medisave)

In Robert Kiyosakis book, Rich Dad Poor Dad. Poor Dad says "The reason i am not rich is because i have your kids." Rich Dad says, "The reason i must be rich is because i have you kids." My goal is to be in line with Rich Dads philosophy, and in order to achieve that, i am working on my aggressive savings plan along with investments in the financial markets.  

More info for The Little B Money Tracker ~ forex trading hours app:

Swing Trader - forex trading hours new york

Swing Trader ~ forex trading hours new york

Swing trader measures an ideal holding period for many participants as 3 days, the the preferred time frame is 4H.

Depending on the currency pair, the profit potential per trade for swing traders can range from 50 pips to 150 pips or more.

Swing traders tend to be a bit more conservative than scalpers or day traders; they typically wait for several confi rmation signals before triggering a trade.

The tools preferred that uses a swing trader are: Bollinger Bands, Fibonacci retracements, and

trendline channels to all chart views. For example, when both daily and weekly Bollinger Bands converge at a single breakout number, odds increase that price will reverse

right at that level.

At the same time, swing traders are not bothered by intraday volatility and price swings because they are more concerned with catching the medium-term trends. Profit targets and stop-loss levels are naturally larger for swing traders because they have a slightly longer-term view than day traders.

Since trades usually have larger targets, spreads won ’t have as much of an impact to overall profi ts for swing traders. As a result, trading pairs with larger spreads and lower liquidity is acceptable.

Swing trading offers these top three advantages:

1. Favorable risk to reward. Swing traders normally are not concerned with intraday movements of the market because they have a slightly longer time horizon in watching the markets.

As their time horizon is longer than that of day traders, swing traders normally set favorable risk to reward ratios of 1:2, 1:3, or more.

If the stop loss is set at 50 pips, the profi t target is normally 100 pips, 150 pips, or more.

2. Save time. Swing traders are mostly technical traders, which means they do not have to spend time every day to keep abreast of fi nancial news.

This is not to say that news is not important, but due to the swing trader’s trading style of exiting positions in two to fi ve days, daily news events don ’t matter much. This is one of the biggest draws of swing trading and makes the method perfect for new traders or part-time traders who have full-time jobs.

3. Hassle-free. Many traders feel the need to meddle with ongoing trades or to trigger unnecessary ones. This normally happens when traders trade several times a day. As swing traders depend on a trading plan to trigger long and short positions, they do not fall into this trap. In fact, swing traders thrive on following a structured plan. Following a plan keeps human error to a minimum and enables swing traders to avoid emotional trading.

Swing Trader Rules

Medium-Term Range Trade

Rules

1. Use daily charts.

2. There are two ways to range trade in the medium term: position for up-

coming range trading opportunities or get involved in existing ranges:

Upcoming range opportunities: Look for high-volatility environments,

where short-term implied volatilities are significantly higher than

longer-termvolatilities;seekreversionbacktothemeanenvironments.

Existing ranges: Use Bollinger bands to identify existing ranges.

3. Look for reversals in oscillators such as RSI and stochastics.

4. Make sure ADX is below 25 and ideally falling.

5. Look for medium-term risk reversals near choice.

6. Confirm with price action—failure at key range resistances and

bounces on key range supports (using traditional technical indicators).

Indicators Options, Bollinger bands, stochastics, MACD, RSI, Fibonacci retracement levels.

Medium-Term Trend Trade

Rules

1. Look for developing trend on daily charts and use weekly charts for confirmation.

2. Refer back to the characteristics of a trending environment—look for those parameters to be met.

3. Buy breakout/retracement scenarios on key Fibonacci levels or moving averages.

4. Look for no major resistance levels in front of trade.

5. Look for candlestick pattern confirmation.

6. Look for moving average confluence to be on same side of trade.

7. Enter on a break of significant high or low.

8. The ideal is to wait for volatilities to contract before getting in.

9. Look for fundamentals to also be supportive of trade—growth and interest rates. You want to see a string of economic surprises or disappointments, depending on directional bias.

Indicators ADX, parabolic stop and reversal (SAR), RSI, Ichimoku clouds (a Japanese formation), Elliott waves, Fibonacci.

Medium-Term Breakout Trade

Rules

1. Use daily charts.

2. Look for contraction in short-term volatility to a point where it is sharply below long-term volatility.

3. Use pivot points to determine whether a break is a true break or a false break.

4. Look for moving average confluences to be supportive of trade.

Indicators Bollinger bands, moving averages, Fibonacci.

Swing Trader

More info for Swing Trader ~ forex trading hours new york:

This Is When You Know Times Are Bad - xlt forex trading course

This Is When You Know Times Are Bad ~ xlt forex trading course

There are reports indicating that Singapore is in a technical recession but you know times are really bad when you see people selling The "Pai Tan" ramen. Lol

Soon we will see other variations. Who wants to make some ramen with me? We can do the  "Jin Pai Tan ramen", "So Pai Tan Ramen" or how about "Lagi Pai Tan Ramen!" 

(Pai Tan is loosely translated as "hard to make a living " in hokien)

More info for This Is When You Know Times Are Bad ~ xlt forex trading course:

Map of the Market with Breakout - forex trading hours 2016

Map of the Market with Breakout ~ forex trading hours 2016

Map of the Market with Breakoutis a trading system whose purpose is to identify the movements that occur on a day in all three sessions (Asia, Europe, America).

Time Frame 15 min.

To achieve this goal I have identified five boxes on the chart:

first (2:00 -3: 00);

second (5: 00- 6: 00);

third (9: 00- 10:00);

fourth (15: 00- 16:00);

fifth (17: 00- 18:00).

These boxes are determined by the fact that the market movements on average occur after these hours.

First way

Buy

Place a buy stop order 2 pips above the last 15 minute candle of the box.

Sell

Place a sell stop order 2 pips below the last 15 minute candle of the box.

Second way

Buy

Place a buy stop order 2 pips above the high of the box.

Sell

Place a sell stop order 2 pips below low of the box.

Profit target 15-20 pips. Aggressive profit target 5-7 pips.

Initial stop loss 20 pips after 14 pips in gain move stop at the breakeven.

You can also use a trailing stop of 15-18 pips.

In the examples show both ways to buy and sell.

I recommend the second, to consider, the maximum and minimum of the box to place pending orders.

More info for Map of the Market with Breakout ~ forex trading hours 2016: