Foreign Currency Trading Online

Profit Taking on US30 UPTREND

2013-02-05T15:33:00.002-08:00

Joe Joson
February 05, 2013
USA

Dow 30 or US30 has been at the near-peak or all-time high recently. Basic indicators show the trend higher could persist . The economic indicators though continue to show a very sluggish if not sleepy trend. So who knows!

But short term ups and downs in the prices of the different entities that could be traded on the Forex platform could continue to offer opportunities .

Click here for a profit taking on a short term (4-5 days) trade on US30.

AUS200 US30 SPX500 UPTRENDING

2013-02-01T03:25:00.000-08:00

By Joe Joson

February 1, 2013

I love UP TRENDS so I am posting this nice up trending entity . Trends are my friends but I just like 'climbing the hills' and reaping the fruits as I go .

So , take a look at this nice up trending baby and tell me what you think... long term.

Please click here and take a peek at the Chart.

In currency trading , one can ride the trend whether it is a down trend or up and make a profit. If the trend is up and you place a BUY, when the entity does go up , you win. When the trend is down and you SHORT it , meaning you place a SELL position and the entity goes down , you win.

Very short term downtrends are driven by folks rushing to the door in panic . Shorts are the name of the game in this scenario. Not a place for rookies like you and me. We get ran over , killed. Long term and easy down trends could be for us.

But then again , I love UP TRENDS so for the most part I ride these kinds of PAIRS or Forex entities.

Gold Holding At 1655 Support

2013-01-03T13:02:00.000-08:00

Joe Joson
California , USA

January 03, 2013

Gold has been hammered the last few weeks but recently holding its old support at 1655 for 3 weeks now. Gold is oversold at this point as well. Short term buying opportunity?

Click here to see a Weekly Chart of Gold.

Joe Joson
USA

blackhawk74@yahoo.com

Step 1 Download the Forex Trading Platform

2012-12-28T19:22:00.001-08:00

It is easy . Click this link and download the platform into your PC.

Click here to go to the download page.

Choose your computer : PC or Mobile

Once downloaded the next challenge is choosing your indicators and giving your Trading Station platform your preferred look :

To have an eye-friendly look , I use the No Skin look by pulling down the System Link within the platform , clicking Options and choosing No Skin at the Skins box.

Next , find the Indicators symbol and click it. You will see many , many choices. Don't get rattled . Most of these indicators are for advanced users. You will make your choices once you have gotten a good hold on your trading knowledge. No rush. It all comes together in time.

I use the following indicators, for basics: BB (Bollinger Band) , EMA (Exponential Moving Average) , Slow Stochastics , MACD and RSI . Read up on these in google for what they mean to you as a trader. You can also choose the colors of the indicator elements (lines).

Do not get discouraged by the terminologies that are weird and strange. Stay focused on setting up the Trading Platform. Remember the excitement that lies ahead!

Remember : Once your platform is set up , your next step is opening a PRACTICE ACCOUNT (VIRTUAL ACCOUNT).   Choose to set up a UK practice account.   Will explain this later.

The excitement starts once you get to see the trading ACTION inside this platform. You will see Gold , Silver , US Dollar, US30 , EUR , AUD , US and UK Oil and many more duke each other out 24/7 from Sunday 3 pm till Friday at 1 pm Pacific Time. While Stock Markets open and close daily , FOREX does not.

Learn the time differences of the Australian , Asian , Europe and US markets. They open and close at different times.

As you trade into the wee hours , you get to see what markets kick butt at what time etc. Prepare to lose some sleep.   :   )

WARNING!! DO NOT OPEN AND TRADE REAL ACCOUNTS AND REAL MONEY UNTIL AFTER YOU ARE ABLE TO ACHIEVE SUCCESS WITH YOUR PRACTICE ACCOUNTS.

YOUR PERFORMANCE WHEN DEALING WITH REAL MONEY WILL ALSO BE DIFFERENT AT FIRST FROM WHEN YOU ARE PLAYING WITH PRACTICE MONEY.

Well, I hope this gets you excited for the New Year!!

If you run into trouble , email me at   blackhawk74@yahoo.com so I can help you tweak your Trading Station Platform.

I do not discuss strategy. I post my strategy but I don't tell people to do what I do. You will develop your own as you go.

Happy New Year , you all!!!!     :    )

Joe Joson
USA

blackhawk74@yahoo.com

Is Gold's Comeback Here For Good?

2012-09-20T22:22:00.000-07:00

The months of August and September have seen the most rise in the price of Gold in the last six months. Both months racked up around 100 points each . So the question is , will gold continue to rise past the psychological major resistance at the 1830s , cruise all the way to its all time high at the 1920s and sail on through the dream 2000 mark?

Check out this recent monthly chart, read up on the buzz out there and decide for yourself. My take?

Click here to see the chart. It looks good!

Joe Joson
California , USA

blackhawk74@yahoo.com

Gold Rises as Dow30 and S&P500 Tank on Jobs Data

2012-04-08T19:55:00.001-07:00

With the USDollar, Dow30 and S&P500 all cruising at the OVERBOUGHT territory, Gold moved up a few notches on Easter Sunday at the opening at 1500 hours Pacific as jobs data proves uninteresting.

Check out the charts here.

Bloomberg news on jobs, click here.

Joe Joson
USA

blackhawk74@yahoo.com

Mid February 2012 Virtual Account Balance $572K Floating $70K

2012-02-17T14:20:00.000-08:00

Thirteen and one half months into trading this virtual account started from $50K capital. Used an agressive strategy and banking on Uptrending entities. Look into the detail in the link below. The huge floating negative amount is the ongoing battle that precious metals Gold and Silver is waging right now against the USDollar.

Nevertheless, the strategy works. Note the huge profit taking on UKOil towards the end of the statement.

Virtual Accnt Balance 021712 $572K Floating $70K

Joe Joson
USA

blackhawk74@yahoo.com

Facebook page: See our Facebook Page .. Please click here.

USDollar in OVERBOUGHT Territory Gold Is in OVERSOLD

2011-12-29T05:04:00.000-08:00

The USDollar which has become a popular haven for its liquidity compared to Gold HAS REACHED ITS near peak and it is in OVERBOUGHT territory.

GOLD however, which has been the favorite for safe havens for years, has taken the back seat recently and has retreated back to its recent MAJOR SUPPORT at the 1530 area and is now in the OVERSOLD territory.

Overbought means , it is highly likely to reverse in direction or go down. Oversold is the other way around... ITS POTENTIAL TO GO UP IS HIGHER....if..... : )

CLICK HERE TO SEE THE CHARTS.....

The big question: WHERE WOULD THESE TWO HAVENS GO in 2012?!

SHORT TERM: USDollar looks to be the winner in the very short term. The single biggest catalyst: The EURO and ALL the Currencies tied to it and eventually ALL the currencies tied to the USDollar.

Click here to see EUR , GBP & AUD Positive Correlations

LONG TERM: Looking at the MONTHLY chart of GOLD, and its very long track record of stability , this trader still favors this precious metal.

Click here for GOLD & DOW30 Index correlations...

Make a long story short, when EUR/USD,UK100, GBP/USD, AUD/USD, etc. go down AND USD/JPY goes up , USDollar normally goes up , Gold goes down . And the reverse is true.

When the Dow30 (Dow Jones Index) , S&P500 Index move up, GOLD normally goes up!!!

But..... these correlations ARE NOT PERMANENT but for the most part they hold true.

See you all next year!!!! Happy New Year!!!!

Joe Joson
USA

blackhawk74@yahoo.com

End of the Year 2011

2011-12-28T15:07:00.000-08:00

Been a rough 3 months for precious metals, great for US Stocks and USDollar. Can't beat them , joining them. Shorted XAU/USD (Gold) and Dow30 and buying USDollar.

Shorted Gold and Dow30...

USDollar and Japanese Yen correlation... click here...

Joe Joson

End Of Week December 2, 2011 'Chatter'

2011-12-02T08:47:00.000-08:00

Check out how the USDollar, single handedly....almost, rises while Gold, EUR/USD, USOil, UKOil, Japan225 etc tumble.

Note the USDollar Index shown is FXCM Index as reflected by four currencies tied up to the USDollar namely: EUR, GBP, JPY, and AUD.

So , when these four big hitters tumble, the USD kicks butt or the other way around and those listed above with Gold do the same. But the question is....WHO is behind these huge movements?!! It is not the price of oil! It is not the price of Gold granted that the USD is used to buy both!

These are dictated by those who have the big $$$$'s who plunk in or take out MASSIVE amounts from their investments, that is!! This is why at 3 am Pacific time ...sometimes.. or on a Sunday afternoon... these entities rise and fall massively and we wonder why. But , not to worry!!! Just ride the tide and learn not to drown!!!

Click here to see the Mighty Dollar 'harass' Gold.. not to worry... : )

Click here to see Japan225 Index and UKOil get their beatings by USDollar... WHILE GOLD HOLDS ON! : )

Click here to see how Gold, US30 (Dow) and S&P500 are positively correlated and get their butts kicked together as USDollar rises. Godl held its own eventually.... : )

Click here to see end of the day relationship between Gold and USDollar   Gold held on to huge gains of yesterday.

Merry Christmas!!!!!

Joe Joson
USA

blackhawk74@yahoo.com

A Wait and See for Gold and USDollar

2011-12-01T21:41:00.000-08:00

After yesterday's stocks rally, investors are in a wait and see mode , cautiously waiting for more 'signs'. The Bulls and Bears will have at it again before the week is over. One day to go.

Check out the link below and see a very interesting 15-minute chart comparing Gold and the USDollar. They are inversely correlated entities.

Click here to see USGold and USDollar Inverse Correlation. The tug of war continues.

Check out the positive correlation between Gold and US30 (Dow 30 Index):

Click to see the 'Teamwork' between the Dow30 and Gold:

And which will reign long term? USDollar or is it Gold? Remember USDollar is used to buy Gold and Oil.

Joe Joson
USA
blackhawk74@yahoo.com

New Confidence in Gold Gaining Traction

2011-11-11T12:33:00.000-08:00

Bloomberg News:

Gold Traders Most Bullish Since ’04 on Debt Crisis

Click here for the rest of the news: Gold Regaining Momentum

Click here for the chart of Gold Nov 11, 2011: Gold accelerating to bust the 1800 barrier for good. : )

Click here to see the most beautiful chart of all, Gold monthly chart: Click and see for yourself. : ) An 11-year rally of gold about to resume and go to 12 years and beyond!

Joe Joson

USA

blackhawk74@yahoo.com

Mid-October 2011 Update

2011-10-15T20:55:00.000-07:00

Gold continues to recover lost ground but at a very cautious sometimes boring and mildly volatile days. Last closed on Friday October 14 at 1679. Daily chart looks like it could be poised to make some major upward movement after another small correction.

Slow, cautious but steady upward climb. Corrections are frequent. Volatility has diminished. Click here to see the chart.

Below is a Monthly Chart. Each bar or candle (red or green) is equivalent to a full month. This chart shows a 10-year plus consistent rally of Gold. There are tons of opinions out there as to where Gold is headed long term.
I like the positive opinions of higher prices for Gold. It is not wishful thinking. There is no safer haven better than Gold. Not the USDollar. Not the Long Term Treasuries.

Click to see the most beautiful chart of all even with the September 2011 correction. It still looks 'pretty'.

See below how the US Dollar is not up to the challenge:

Click here to see the USDollar performance.

Joe Joson
USA

Trading Update End of September

2011-10-03T10:54:00.000-07:00

Too much has happened in the month of September. The global market went haywire for the most part affecting everything that can be traded. No exceptions. Gold and Silver tumbled their biggest since the 6-month rout of 2008 , global stocks ran for the exits, investors were running out of tricks and ideas , a lot could not decide which way to run for safe haven... the rallying USDollar, the Long Term Treasuries or gold.

The European market's uncertainty continue to rattle investors. Greece drew up a plan for an $8B Austerity. Today's charts show more restraint on the Scalpers and day traders. Volatility seems to have settled....some.

Gold seems to be solidifying its hold on the 1600's gains. Nerves are perhaps getting more settled with the battle weary traders. Great breather.....maybe..

Posting some interesting new things discovered by this trader during the past crazy few weeks. See for yourself. I survived the onslaught. : ) Moving right along as things get rosier. Surviving Super Typhoons on the small island of Catanduanes many moons ago has taught this trader to hold on when most have let go. You also have to shore up continuously as the 'super winds' batter you.

Riding Gold as it nosedived (Short) and as it recovered (Long).

Interesting Positive Correlation Between USGold, US30(Dow Index), S&P500 Index

USGold and well.... Silver are starting to look rosier... again. Shooting for the all-time highs in coming weeks or a couple of months.

Joe Joson
USA

End of Week September 2, 2011

2011-09-02T03:57:00.000-07:00

USGold continues to recover lost ground. Played around (Short Positions) with two European Indices GER30 and ITA40. European market tanked today 090211.

Check out the charts and the total profit:

Shorted GER30 Index

Shorted ITA40 Index

Profits for the day 090211 $11.1k in 4 trades

I can teach you 'long distance'. : )

Contact: blackhawk74@yahoo.com

Joe Joson
USA

End Of Week August 26, 2011

2011-08-26T14:49:00.000-07:00

USGold took a nosedive August 23rd and 24th. It was gold's biggest lose in one day since 2008. What followed was a wild ride with investors buying and selling within minutes. Lots of day traders I suppose. Not to mention the roller coaster of the stock market worldwide.

This trader got hammered some but held on. By the end of today things are looking good plus the bonus of a buying frenzy which saw USGold recover much of lost ground. It ended the day at $1822. It went as low as $1706 on the 25th but recovered.

Here are some benefits of the roller coaster rides and the feeding frenzy by fellow 'nutty' investors:

$7.4K profit taking in 6 hours on USGold Friday Aug 26th

Click here to see the chart which is H1 or hourly to show the Green Little Arrows of profit taking.

I can teach you remotely on how to do this. : )

Contact me: blackhawk74@yahoo.com

Joe Joson
USA

USGold Profit Taking As It Recovers

2011-08-26T08:36:00.000-07:00

USGold took a major hit August 23rd and 24th. It has since slowly recovered some lost ground and the volatility or big up and down rides have offered some ranging opportunities.

Click here to see the chart

Below are the actual trades:

Click here to see the trades

I can teach you how to do all this remotely using your computer. : )

Contact me at: blackhawk74@yahoo.com

Joe Joson
USA

Gold Soars While Stocks Retreat

2011-08-10T04:49:00.000-07:00

While stocks got clobbered part of last week and Monday morning, gold or USGold continued to climb higher to new highs.

Click the links below and see some of the action:

Sunday August 7, 2011 at 5 minutes after open of commodities at FXCM:

A nice Sunday Surprise by USGold

Then as S&P goes nuts with its downgrade of US ratings, USGold jumps up even more:

Thanks for the downgrade S&P which resulted in everyone scampering to Gold!

$10.6K total profit for the day, 080811 from Asian market open to the beginning of the European market:

Five hours and $10.6K profit in USGold Sunday night.

Joe Joson
USA

blackhawk74@yahoo.com

End of Week July 17, 2011

2011-07-25T00:51:00.000-07:00

USGold reaching all-time high of $1623.35 July 24, 2011.

USSilver, USOil and AUD not doing as well as USGold...yet.

Click here: Account Balance as of July 24, 2011

USGold Profit Taking, click here.

To learn how to trade Forex, contact:

Joe Joson
USA

at blackhawk74@yahoo.com

USGold and USSilver Recent Upticks

2011-07-18T02:03:00.000-07:00

USGold (XAU/USD) and USSilver (XAG/USD) have recently been showing renewed vigor. USGold has reached an all-time high at $1600.49 on the first day of trading Sunday July 17, 2011.

Please click this link to see the chart: USGold July 17, 2011 All-time High Daily Chart

USSilver seems able to break through resistances and could rise rapidly in the weeks ahead.

Click here for the chart: USSilver Daily Chart July 17, 2011

Green arrows on the chart show profit taking on USGold and USSilver.

Joe Joson
USA

Short And Sweet Introduction to Forex Trading Online

2011-07-10T22:42:00.001-07:00

Forex is short for foreign exchange. Forex trading is trading Foreign Currencies against each other. You can trade the Euro against the US Dollar for example. The symbol for that PAIR will be EUR/USD. If you buy or take a long position, you are saying that the EUR will go higher againts the USD. If you sell it or take a short position, you are betting that the USD will go higher against the EUR.

Needless to say, you can make money by either taking a buy or long position or a sell or short position...if ..your prediction is correct.

Dont worry if it all sounds scary and difficult. It isn't.

In stocks, you have at least 12,000 different companies or stocks to choose from. In forex trading you only have a few currencies to choose from!

The VOLUME of trading, meaning the amount of money being traded daily in Forex trading as compared to stocks is about 20 to 25 times more! It's DAILY volume is a whopping $3.2Trillion dollars!

For the most part, forex trading is open 24 hours a day from 2 pm Sunday, Pacific Time ALL THE WAY TO Friday at 1 pm Pacific Time! It does not shut down at 4 pm Eastern time DAILY like the stock market does!

In Forex trading, you can continue to play as the different world markets of Australia, Asia, Europe and the USA open and close.

Most Forex brokers offer demo accounts to potential customers. It is highly recommended that we practice for a few months, get 'dangerous enough' to make a profit, before opening and playing a real account.

I have a minimum of two practice or demo accounts at all times even as I trade a real account. Your demo and real accounts are played exactly the same. The only difference is that in demos you are using virtual money as compared to a real account which of course uses real money.... and you get a bit nervous when trading real money. Your jitters go away as your trade gets better.

It is fun fun fun!!!

I prefer http://www.fxcm.com/ (FXCM) for my trading. They are one of the biggest in the US and UK. Others have chosen other platforms.

If you wish to learn more, email me at blackhawk74@yahoo.com!!!

If you wish to see my current virtual trade performance visit my recent short articles in this blog.

Cheers!!!!

Joe Joson

USA

FX Account Update June 27, 2011

2011-06-27T18:51:00.000-07:00

Not a whole lot of excitement here for US Oil and US Gold as far as profit taking. Both are consolidating at 76 % and 38% below their recent highs respectively. The lower gas price at the pump is more welcome than profit takings on the Forex.

With the Administration pulling 30M barrels of oil from the reserves, the price of oil could still go down some before it goes back up this summer.

Gold retraced itself back very close to the recent high but got beaten back down. I am assuming that it will rise back up quicker than US Oil or US Silver past its all time high of $1576 an ounce. US Silver is consolidating at 61-66 % below its recent highs.

Click here to see Daily Charts of US Gold and US Oil and the Recent Correction

To learn more about Foreign Currency Trading click on this link.

Or email me at: blackhawk74@yahoo.com

Joe Joson

USA

After the One Week Correction

2011-05-22T21:53:00.000-07:00

The recent correction started April 29th and May 2nd and ending May 5th-6th did not offer much of a profit taking for this trader. I am an uptrend kind of guy. I am however posting the Daily Charts on the USOil, USSilver, USGold and Australian Dollar to show how much damage these pairs sustained and how they look presently and what the prospects are for the next few days or weeks.

USGold (XAU/USD) , please click here:

Australian Dollar (AUD/USD). Please click here:

USOil . Please click here:

USSilver (XAG/USD). Please click here:

For more questions on this blog and how to set up your trading platform , trade Foreign Currencies online, please send your inquiries to:

blackhawk74@yahoo.com

Check out FXCM at: Click here to go to FXCM main site

Joe Joson
USA

April 28 Total $196K from $50K in Six Months

2011-04-28T12:36:00.000-07:00

USOil , USGold (XAU/USD) , USSilver (XAG/USD) and Australian Dollar (AUD/USD) continue to be heavily uptrend. There is still plenty of room for upward movements but short term profit taking is always a threat. Watch the size of bets as compared to your capital and its ability to absorb short term losses when they come.

Note: The Closed Trade List shows a partial record thus it will show a smaller amount of total gains and losses. This is controlled by FXCM .

The more complete record of trades is in the Account Activity section.

Click here for the Account Total as of April 28, 2011:

Click here to see a chart snapshot of a series of profit takings on USGold:

For questions on the basics of currency trading send your inquiries to blackhawk74@yahoo.com

I can show you how to set up your Trading Station II including the basic indicators set up.

Cheers!!!! Have an awesome week!!!

Joe Joson
USA

With USOil, USGold and USSilver Overbought Closer Management A Must

2011-04-20T10:46:00.000-07:00

Managed to pull a lot of small trades. Click below for the new balance as of April 20, 2011

Note: The Closed Trade List shows a partial record thus it will show a smaller amount of total gains and losses. This is controlled by FXCM .

The more complete record of trades is in the Account Activity section.

Up to $177.6K from $50K in Five and a half Months

Some profit taking for the day and a half. Click below:

USGold Profit Taking

Miscellaneous Small Trades and Profit Takings

For questions on the basics of currency trading send your inquiries to blackhawk74@yahoo.com

I can show you how to set up your Trading Station II including the basic indicators set up.

Cheers!!!! Have an awesome week!!!

Joe Joson
USA