The Meta Trader

18th June-22nd June 2007: Trades & Commentaries

2007-06-19T00:50:00.000-07:00

My current positions:1. buy cadchf o:1.1594 sl:1.14852. sell eurusd o:1.3416 sl:1.34783. sell gbpusd o:1.9846 sl:1.99164. buy usdchf o:1.2415 sl:1.2274I think the major trend change is taking place now. On fundamental basis, I think everybody want to cut interest rate now based on the inflation conditions. Technically, all the major currencies look like topping/bottoming out. I'm not quite sure

11th June-15th June 2007: Trades & Commentaries

2007-06-13T10:25:00.000-07:00

I traded some positions this week. Currently has closed all of them, one of them have been stopped out:1. buy gbpusd o:1.9674 sl:1.9661 c:1.9740, 66 pips2. sell usdchf o:1.2374 sl:1.2412 c:1.2412, -38 pips3. buy gbpusd o:1.9716 sl:1.9661 c:1.9740, 24 pips4. sell usdjpy o:121.71 sl:122.09 c:121.67, 4 pips5. sell eurjpy o:162.46 sl:162.87 c:161.73, 73 pipsTotal: 129 pipsThe dollar rise last week

4th June-8th June 2007: Trades & Commentaries

2007-06-04T09:09:00.000-07:00

Open these positions based on the dollar analysis I posted on this blog before this post:1. buy gbpusd o:1.9845 c:1.9922, 77 pips2. sell usdchf o:1.2290 c:1.2227, 63 pips3. buy gbpusd o:1.9872 c:1.9922, 50 pips4. buy gbpusd o:1.9920 c:1.9922, 2 pipsTotal pips for today: 192 pipsNo SLs because i've been checking them from time to time. I have to close all of them so that I can concentrate on

Dollar Technical Analysis: 3rd June 07

2007-06-03T06:56:00.000-07:00

The dollar looks to go down again to me.Weekly chart:Support has turned into resistance. WAllahuallam.Day by day I am a more successful, disciplined, smarter and better trader, insyaAllah.

28th May-1st June 2007: Trades & Commentaries

2007-05-28T09:19:00.000-07:00

I feel quite nervous when opening my positions, maybe because of I have not trading for a while. My current positions:1. sell eurusd o:1.3454 sl:1.34872. sell gbpusd o:1.9842 sl:1.99093. buy usdchf o:1.2271 sl:1.22174. buy usdjpy o:121.65 sl:121.35All positions are trend following. Yen position is quite tricky, but i think 161.60 support will hold it. Another possible trade is to buy usdcad,

14th May-18th May 2007: Trades & Commentaries

2007-05-14T01:09:00.000-07:00

Got 2 positions now, opened during London session's opening:1. sell gbpusd o:1.9831 sl:1.99102. sell gbpjpy o:238.53 sl:239.16I just follow the trend, it can go up a little bit, but last week downtrend still looks strong to me. Anyway, I'm quite busy currently, so I guess I just take these two trade for this week. WAllahuallam.Day by day, I am a more successful, more disciplined and smarter

30th April-5th May 2007: Trades & Commentaries

2007-04-30T08:40:00.000-07:00

Opened 5 position this evening. Around 11 am London time. I didn't update earlier at the time because the weather condition was not good. I just opened the positions, put the SL and shut down my PC.1. buy eurjpy o:162.68 sl:162.092. buy eurusd o1.3596 sl:1.35713. buy gbpjpy o:237.65 sl:238.824. buy gbpusd o:1.9902 sl:1.98525. sell usdchf o:1.2090 sl:1.2114The positions are going well currently (

23rd-27th April 2007: Trades & Commentaries

2007-04-23T07:29:00.000-07:00

The internet connection is okay now. The technician from the telco have done a great job. So lets get working again. I have opened 3 position tonight, these may be my final trades for this month:1. buy gbpusd o:1.9999 sl:1.9907 tp:2.03632. sell usdchf o:1.2115 sl:1.2159 tp:1.19053. buy eurusd o:1.3560 sl:1.3479 tp:1.3726All are trend following positions. My take profit targets are very far away,

16th-20th April 2007: Trades & Commentaries

2007-04-16T03:24:00.000-07:00

Opened 4 positions, late afternoon, I think around 11 am London time:1. sell usdchf o:1.2117 sl:1.22022. buy eurusd o:1.3564 sl:1.35073. buy eurjpy o:162.06 sl:161.034. sell gbpchf o:2.4154 sl2.4250Looking for another trade in usdcad in short position. All position are trend following, except for gbpchf, reversal possibility.Now all trades in development. WAllahuallam.Day by day, I am a better,

9th-13th April 2007: Trades & Commentaries

2007-04-09T01:12:00.000-07:00

I have large losses last week, so this i have to watch myself to not making the same mistake as last week. I have no plan to regain my losses. Just a reminder to myself: No impulsive trading and be patience. Trading plan for this week:Buy: GBPUSD, GBPYEN, EurUSD,EurYen, GBPCHF.Priority to GBPUSD, GBPYEN, GBPCHF.Wait for a retracement or setup first, then get in. WAllahuallam.Day by day I am a

2nd-6th April 2007: Trades & Commentaries

2007-04-02T03:52:00.000-07:00

Opened 3 position this evening. Just continuing last week move (refer comment section for last week).1. Sell GBP/CHF o:2.3962 sl:2.4008,tp:-2. Sell GBP/USD o:1.9728 sl:1.9761,tp:-3. Sell USD/CAD o:1.1564 sl:1.1587,tp:-WAllahuallam. Day by day, I am better, more successful and smarter trader, insyaAllah.

26th-30th March 2007: Trades & Commentaries

2007-03-26T07:00:00.000-07:00

Back to trading again. Opened several positions late this evening:1. Buy GBP/USD o:1.9596 sl:1.95102. Sell USD/CAD o:1.1619 sl:1.16633. Sell USD/CHF o:1.2212 sl:1.22554. Sell USD/JPY o:118.22 sl:118.73Positions based on trend: GBPUSD, USDCAD, USDCHFPositions based on reversal possibilities: USDJPY (doji star)WAllahuallam. Day by day I am a better, successful and more disciplined trader,

19th-23rd March 2007: Trades & Commentaries

2007-03-21T02:17:00.000-07:00

Standing aside for a while. Need some fresh air.Usdcad shows great downtrend there, gbpusd is up again. euryen, i'm not quite sure what is going on. usdchf looks like to go down again.I don't think that i will trade this week. Just taking a break. I'll resume again next week. Let have some rest....Day by day i am a better, successful and smart trader, insyaAllah.WAllahuallam.

12th-16th March 2007: Trades & Commentaries

2007-03-12T11:40:00.000-07:00

Traded some positions:Open TimeTypeItem OpenS / LT / PClose Time ClosePips 2007.03.12sellusdchf1.23500.00000.00002007.03.121.233317 2007.03.12sellgbpchf2.38842.40000.00002007.03.122.3660224 2007.03.12sellgbpusd1.93361.94450.00002007.03.121.932412At one moment, the gbp trades especially the gbpusd was in nice profit. I was not on the PC at that time so no take profit at that

Soros Blamed Yen Carry Trades for Turbulence

2007-03-10T02:18:00.000-08:00

George Soros blamed yen carry trades as one very important factor in the current turbulence in global financial markets. As the YEN is basically interest-free, a lot of money is coming from borrowing and lots of Japanese money are going abroad. As the YEN weakened, a lot of people got into yen carry trades, thus causing a shake-out in financial markets. Soros also attributed the turbulence partly

5th-9th March 2007: Trades & Commentaries

2007-03-08T00:59:00.000-08:00

I opened lots of positions, I think I am being over-traded this week. I felt a little bit fearful on the market after last week sell-off. You can see this by how i took profit in my trades below:Open TimeTypeItem OpenS / LT / PClose Time ClosePips 2007.03.05sellusdchf1.21611.22140.00002007.03.051.2214-53 2007.03.05sellusdcad1.17851.18220.00002007.03.051.1822-37

GBPYEN Trades Review

2007-03-02T00:44:00.000-08:00

My draw down this month is much caused by GBPYEN trades. Though I have winning trades in past few months, I found that this draw down has spoken to me. I just been trading this pair actively last month (February 07) and it is observed that this currency pair has contributed a total lost of 590 pips for the month. This is really unacceptable.Dropping this currency trade would prevent me from those

26th Feb-2nd March 2007: Trades & Commentaries

2007-02-28T06:30:00.000-08:00

Opened positions: NoOpen TimeTypeItem OpenS / LT / P 12007.02.26buyeurusd1.31741.31120.0000 22007.02.26buygbpjpy236.90235.110.00 32007.02.26buygbpusd1.96301.95370.0000 42007.02.26sellusdchf1.23131.23510.0000All positions were opened based on last week market trends (trend following). usdchf has gap on opening. Currently the gap have been filled and it unable to break the Friday's

It was Bias

2007-02-25T08:40:00.000-08:00

I was biased. That was what happened to my GBPYEN trade two weeks ago. I lost more than 400 pips because of that. I have the chance to cut the lost small, but I didn't do it. Why? Because I felt that the price will go higher and my position will go +ve. It is quite hard to describe how, I don't know how to describe it, but that is the feeling, more like hoping at the market. It is like I believed

19-23th February 2007: Outlook & Trades

2007-02-18T02:42:00.000-08:00

Still analyzing the market. Yen have made some upside move. I still haven't look at other market, I'll look later. I have a family ceremony in this weekend, now helping my parents. Chinese New Year is also around, so Happy New Year for Chinese all around the world, good fortune for all, and have a nice weekend.I am a more successful, disciplined and smarter trader day by day, insyaAllah.

Dollar Technical Analysis: 28th Jan 07

2007-01-28T11:20:00.000-08:00

Weekly chart: Both trend line intact. Price touched the lower down trend line but closed below it. Ignore the MA, it is for the daily chart. The green trend line is the monthly trend line, the penetration is not valid because the month is still not ended. Daily Chart: Uptrend line intact. Price still above 20 MA, watch the last candle that I highlighted. It penetrated the down trend line but

Dollar, where to go?

2007-01-20T22:21:00.000-08:00

Last week I have lost large number of points because trying to short GBPUSD, it was a mistake. I has drag me to almost break-even level, while on the early of the week I have generated almost a third of my account size. I have my reason on doing this, they were the fundamentals factor on the USD side, which have shown many positive data for the economy. Seems like there are a very strong

When To Exit?

2007-01-13T09:42:00.000-08:00

Still on exiting. I still not good in exiting a trade. I still have the doubt whether to exit or not. I have no problem in entering a trade when i see a setup, but to exit, seems like a difficult decision to me. Usually when I want to pull the trigger to exit, I will hesitate, thinking that the trade will go further higher or lower, and at last I moved the stop higher or lower. It was just a

Exit Rule

2006-12-23T11:45:00.000-08:00

I still having problem in determining when to exit a trade, especially when its profiting, I love to ride the trend and always have in mind to get a ride on it. It is this action that has always made me to lost big chuck of profits, like what has happened in my last trade. They got stopped out. Perhaps I have to revise my exit rules. I have found some good rules to follow, a simple one is:"Let

Malaysian Ringgit (MYR) vs Dollar

2006-12-01T12:28:00.000-08:00

Malaysian Ringgit has gained more than 1% since past 2 months because of the dollar slides. The main reason for the dollar slides is the economic fundamentals of the USA, which are the inflationary factor and the housing factor of the country. Below were the latest USD/MYR 4hr chart:Weekly chart, looks like diving toward 3.5800:This dollar depreciation will looks beneficial to peoples who want to