FOREX TRADE EXAMPLE by FXCC

Long position on 1 lot EUR/USD 

Open Price = 1.30555
Closing Price = 1.30929
Account Leverage = 1:300

Required Margin to open 1 lot of EUR/USD at a 1:300 leverage is 435.27 USD.

Profit/Loss Calculation

The Buy position (1 lot) was closed (sold) at a 1.30629 Bid price from a 1.30555 open.
Market movement = 1.30929 – 1.30555 = 374 points = 37.4 pips.
1 Pip of EUR/USD (per 1 lot) = $10.
P&L Calculation = $10 x 37.4 = $374

Secret of Ed

Ed Seykota is a very well known one-of-a-kind trader from the west, who has found meaning in his life, and has been living it exactly as he wanted to. Given the fact that markets have an immense impact on our lives as traders, his search for meaning in life and living by it is nothing less than inspiration to us!

There were certain important areas for him:

A) Long term trend

B) Current chart patterns

C) Picking a good spot to enter

For these, he followed some simple rules:

1. Cut losses

2. Ride winners

3. Keep bets small

4. Follow rules

5. Know when to break the rules!

He always focused on following these rules with discipline. Rule no 4 & 5 have been very dear to him. 

He also considered Gut feeling to be very important, because on many instances, you don't have reasons for your feeling, but you just know it will happen. But you need to know when to listen to it!

Psychology motivates the quality of analysis, and puts it to use. Psychology is the driver and analysis is the road map.

A winning trader personality is:

1. He loves to trade, &

2. He loves to win.

Everybody gets what they want out of the markets. Some people seem to like to lose, so they win by losing money! Food for thought, isn't it?

MET IDUL ADHA 1434 H

apdet Blog

apdet halaman blog sambil nungguin aqilah yang lagi bobo sembari diserang dentuman petasan malam lebaran idul adha,dan temenin mamanya yang nyelesain daging semur buat lebaran besok, tapi sudah dinikmati malam ini hehe.

HAPPY BIRTHDAY MY BELOVED WIFE RAHMA, BE A GOOD MOTHER FOR FAIRUZ AND BEST WIFE FOR ME

SELAMAT MERAYAKAN HARI RAYA IDUL ADHA 1434 H teman-teman..:)

Weekly Forex Market Chart Analysis – October 7th to 11th 2013

By Nial Fuller   Posted in Forex Trading Commentary   

EURUSD – Euro/dollar retraces back to dynamic support

The EURUSD retraced down into the 8 day EMA dynamic support level on Friday as the uptrend takes a breather. Overall, the trend is still up and we can clearly see bullish momentum dominating the daily chart below. This week, we will be watching for price action strategies to buy from support in order to trade back in-line with this uptrend. If the market rotates down toward the 21 day EMA and the near-term support between 1.3460 – 1.3400 we would definitely be watching the 4 hour and daily charts for buy signals. Key longer-term support is seen down around 1.3100 area.

GBPUSD – Sterling/dollar sells off from key resistance

Last Tuesday, a small counter-trend pin bar formed in the GBPUSD, and if you zoom out to your weekly chart you can see this pin bar whilst small, occurred at a key longer-term weekly resistance level up near 1.6300 that price has been unable to break through over the last couple of years. Thus, because the pin bar formed at this very important / key resistance level, it is not surprising to see the large sell-off that we saw on Thursday and Friday of last week even though the pin bar itself was a bit smaller than we’d like. Price is now facing some near-term support down near 1.5955 that could cause the recent uptrend to resume if we can get some bullish price action forming near that support.

AUDUSD – Aussie/dollar strength continues

The AUDUSD has remained buoyant since September 30th when it re-tested the key support zone that starts down near 0.9300. This week, we see the potential for more strength in this market if it continues to hold above 0.9300 – 0.9220 key support zone. Traders can continue to look for price action buy signals as this market retraces back to support in order to trade in-line with the recent uptrend in this market.

Gold – Spot Gold trading just above key support

The Spot Gold market has been trending lower recently and we can see in the chart below there’s a very important / key support level coming in close below around $1275.00. If the market holds above this level this week we could eventually see it make a run higher. However, if the market keeps trending lower and closes below this key near-term support we could see a larger move lower as the next key support is not seen until down around $1180.00.