Last week was a volatile week. My account was more or less constant last week with losses ending on Friday. I was basically more laid back last week during my leave, while I did not overtrade, my account actually suffered from lack of monitoring. :P
Technical Analysis of the Forex Spot Markets using Elliott Waves, Chart Patterns, Candlesticks and other tools. Disclaimer: None of the comments in this blog shall be construed as professional trading or investment advice.
Monday, November 26, 2007
Planned Trades (26 Nov 07)
I've closed all my positions from last week, re-evaluated and these are my planned trades for today.
Saturday, November 24, 2007
Laguerre RSI indicator
Here's a recommendation from a fellow FX Trader friend. I hadn't tried it out myself so I don't know how good it is. Writing about it in the blog here also allows me to do some research on it when I have the time.
The Laguerre RSI indicator is not the usual RSI indicator, so you will not typically have it in the normal trading platforms. But the good thing is, you can use it as a custom indicator on the Metatrader platform if you are using it. May be someone could try it out and post some comments on it. :)
The Laguerre RSI indicator is not the usual RSI indicator, so you will not typically have it in the normal trading platforms. But the good thing is, you can use it as a custom indicator on the Metatrader platform if you are using it. May be someone could try it out and post some comments on it. :)
Elliot Wave Theory (EWT)
Not going to talk about my trades today, but basically, GBPUSD had a volatile Black Friday and that caused me some losses on some of my trades. And I committed another one of the major traders' sins.... I got lazy I didn't review my trades. Though I quickly made the losses back, those could have been profits.
Now, back to the topic of the post - Elliot Wave Theory. I came across this theory briefly in the book "Technical Analysis Explained" by Martin Pring. It was a very short sub-section on it, and it really didn't get too much attention from me then. I've since become rather interested in EWT and I think it has very good predictive properties.
One thing I learnt about trading tools is this, there are leading indicators and there are lagging indicators. Many lagging indicators are way too slow for trading FX, so mostly, I look for leading indicators. While EWT isn't exactly an indicator, it is a good tool to trade with.
Check out www.elliotwave.com for some free videos on EWT.
Now, back to the topic of the post - Elliot Wave Theory. I came across this theory briefly in the book "Technical Analysis Explained" by Martin Pring. It was a very short sub-section on it, and it really didn't get too much attention from me then. I've since become rather interested in EWT and I think it has very good predictive properties.
One thing I learnt about trading tools is this, there are leading indicators and there are lagging indicators. Many lagging indicators are way too slow for trading FX, so mostly, I look for leading indicators. While EWT isn't exactly an indicator, it is a good tool to trade with.
Check out www.elliotwave.com for some free videos on EWT.
Monday, November 19, 2007
Planned Trades (19 Nov 07)
These are my planned trades for the day. And since I can't cut and paste from Excel... I can only paste the image here. :) Now just have to wait and see what happens!
Friday, November 2, 2007
New Trading Blog!
I've decided to add another blog to my arsenal of blogs. Well, I know I hadn't been posting regularly in the other blogs. But given my recent interest in Forex Trading, I think I'll be able to blog quite abit about it.
You'll find rants, complaints, lessons learnt, lessons not learnt, declarations of wins and licking of wounds from losses. :)
You'll find rants, complaints, lessons learnt, lessons not learnt, declarations of wins and licking of wounds from losses. :)
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