Profits on EURUSD

Entered on Friday night, hold till it hits my profit target, making a very nice reward! Power of price action!

A Lazy Sunday And Self-review

Doing my analysis on a Sunday. What's in store on Monday after the Australian election, China's trade balance, Syrian War? Doing my research on something exciting in the future!

Had a small profitable trade on AUDUSD on Friday. Exited after the NFP report which gave a huge move. Risky trading the NFP report but gave profits due to the AUD strength. Most of the time, timing your trade is important in the volatile Forex trading.

The Weekly Review: Up or Down?

EURUSD ended the week with a pinbar. Will it go up? While AUDUSD ended a big bullish bar but now where will it be heading? USDJPY is a pair that is forming something. It's going to be big either way when it breaks out.

US Stocks

The Dow Jones Index was in a very wild swing on Friday when it went up positively after the NFP. Then a news about the upcoming Syrian war sent the index deep into -100 within minutes and recovering after Obama's talk with Putin. Where will it go next?

Apple seems to be in a consolidation and poised to move further north.

Hongkong Stocks

Hang Seng Index seems to be in a bullish mood, pushed by China stocks.

Singapore Stocks

Noble Group moved up after that support. Will it move up further?

Sembawang Marine had an aggressive move up after a strong support too. Watch for it.

NOL is gaining big movements by BBs. Will it move up from its lows?

Stop Trading With Messy Indicators

You are in the mid of your trading journey. You have read tons of investment and trading books, went for trading seminars. Each of these books and gurus telling you the many wonderful technical indicators like MACD, Stochastic, ADX, etc that gives you a signal that tells you to buy or sell. You thought: "Wow that's easy! Just wait for the cross or signal and the just execute the trade!" You started with one indicator. Oh, it doesn't work, you lost money even the signal is correct but the markets just turned against your favour. You started to ask: "Hmmmmm, this indicator seems to be not working." You then add another indicator to make your chart reading more accurate. Again it doesn't work. Soon you will be adding more and more indicators until your chart looks so "professional". Still your trades are not working and you find yourself slower than the rest of the market.

STOP USING INDICATORS

Indicators are useful for novices who are just starting their trading journey. It's because they have no idea how the market behaves and moves. And these indicators provides them with some info on how to trade. However as one progresses, indicators are not entirely useful at all. There are a few reasons for it:

1) Technical indicators are all lagging the market. Even so called leading indicators are lagging as they need to wait for market data.

2) Technical indicators encourage you to stare at the chart all day. Staring at the chart all day will screw up your thinking and make emotional trades when they fail to work.

3) Technical Indicators take up space in your chart and makes it look messy. 

4) The best traders seldom use technical indicators. Enough said.

The Zen Chart

How does your chart looks like? Does it looks like a complex state of chart that looks like something coming from Einstein, or the zen-like state of simplicity?

This is what a typical chart full of indicators. Taking up spaces in your workspace preventing you from reading a good chart.

This is what a clean chart will look like. Can you spot the turns and movement clearly?

Cut Down Your Indicators

Start removing indicators. Start to read charts in their raw unprocessed state. Start reading about support and resistance. You will find yourself to start reading charts and movement better. Good luck and Happy Trading!

The Weekly Review: Volatile Sessions

EUR/USD had a big sell off for the week as prices cannot sustain the move up. But get ready for more probably move up. EUR/JPY still stuck. AUD/USD will be interesting as seems like more selling will come.

US Stocks

Dow Jones Index starts to slow down after its fall.

Apple had its impressive rebound. Will more rally come?

Singapore Stocks

Property sector continues to fall in the week after its first short rebound. Now it has reached a second support.

STI is just so awesome for those who shorted in the past few weeks.

Will Wilmar shoot up?