I had a quick look at AUDJPY. Here is what I see, and I love this chart. Are we, again, heading for another breakdown? What do you think?
Here is the … CHART! (click to view full chart)
Some technical statistics
Chart of the moment $EURGBP 06-Nov-2009
I am looking at 240 min chart of EURGBP. Are we heading for another breakdown? I am watching closely, and maybe, we are looking at 0.87-ish. What do you think?
Some technical statistics:
Does NFA changes really hurt FX trading business?
So, we know NFA has been changing rules. Retail traders are complaining, moving away from U.S based brokers.
But, is the change really bad? Well, firstly, I am not trying to defence NFA. I am just thinking, should I really look for another European based, or Australian based broker?
I am not sure. The change of the margin requirement does not affect my trading, since I am never a high leverage player. So, increase capital requirement of broker, increase margin requirements for Forex position, is there anything that I miss out and it is really bad for the business?
Any thought?
And, about European brokers, I’m totally unfamiliar with them, and hence,not confident of sending money to them. So, I maintain status quo now, leave my trading fund with some big U.S based broker.
So, we know NFA has been changing rules. Retail traders are complaining, moving away from U.S based brokers.
But, is the change really bad? Well, firstly, I am not trying to defend NFA. I am just thinking, should I really look for another European based, or Australian based broker?
I am not sure. The change of the margin requirement does not affect my trading, since I am never a high leverage player. So, increase capital requirement of broker, increase margin requirements for Forex position, is there anything that I miss out and it is really bad for the business?
Any thought?
And, about European brokers, I’m totally unfamiliar with them, and hence,not confident of sending money to them. So, I maintain status quo now, leave my trading fund with some big U.S based broker.
Updates
I’ve only made a couple of trades early of the week. I generally do not initiate new positions during FOMC, NFP week. So, most of the time, I am just enjoying watching the markets.
Meanwhile, I am preparing my travel-trading plan for the coming months. As mentioned before, I’ll be travelling around South East Asia countries for the next few months. One thing for sure is, I’ll never stop trading. So, I need to get my equipments setup. On the other hand, we are heading into holiday season soon (Christmas, New Year is around the corner), I think it is worth to observe the volatility and liquidity for the coming month.
No open position at the moment.
Updated free trading courses
Marketclub has recently updates the free trading course, which I think it is worth checking out.
Here are the lessons that you get in your inbox
(1) The importance of psychology in price movement
(2) How to spot mega trends
(3) Understanding of technical price objectives
(4) How to picture price objectives
(5) How to trade with moving averages
(6) How to use point and figure trading techniques
(7) How to use the RSI indicator
(8) How to correctly use stochastics in your trading
(9) How to use the ADX indicator to capture trends
(10) How to capitalize on natural market cycles.
Plus, you will you will learn all about fibonacci retracements,MACD, Bollinger Bands and much more.
Check it out here https://tradergav.com/fmn
Marketclub has recently updated the free trading course, which I think it is worth checking out.
Here are the lessons that you’ll get in your inbox
(1) The importance of psychology in price movement
(2) How to spot mega trends
(3) Understanding of technical price objectives
(4) How to picture price objectives
(5) How to trade with moving averages
(6) How to use point and figure trading techniques
(7) How to use the RSI indicator
(8) How to correctly use stochastics in your trading
(9) How to use the ADX indicator to capture trends
(10) How to capitalize on natural market cycles.
Plus, you will you will learn all about fibonacci retracements,MACD, Bollinger Bands and much more.
Chart of the moment $GBPUSD 27-Oct-2009
To me, the Cable buying during last session did not change the trend. Instead, I thought there might another opportunity for SHORTs? This is a text book pattern. Nothing fancy, let’s see how it works out. If the the breakout of the pattern realized, I am revising the downside target to around 1.6-ish, still in the zone support zone as mentioned in my last post.
What do you think?
Here is the …. CHART!
Some technical statistics
