Recommendation Of Forex Trading at Nobullshit Network Forum

MASTERTRADE112 · 07-18-2008, 03:06 PM

RECOMMENDATION OF FOREX TRADING

Hi !

For you who need trading recommendation or possibly you are perplexed where to start for forex trading, or maybe you are new in this field. I will give recommendation for you for free. This recommendation would not be just for show or because i want to deceive you. It gives no benefits for me. I always make my recommendation with my own method and system of trading.

My Method :
I would ignore fundamental analysis and i always focus on technical analysis. I am purely a technician. In addition to emphasize principle of simplicity, i am expert at technical analysis.

Indicator :
My technical method is slightly different from the technical method in general which commonly uses trend following indicator, oscillator and miscellaneous indicator. Basically i only use 2 indicators : leading indicator and lagging indicator. For leading indicator i use Parabolic SAR, whereas for lagging indicator i use zig zag. Again i would emphasize principal of simplicity in trading, because simplicity is the key. The more you put, many elements of indicator involved in your trading. The easier it will under go breakdown system. Because many indicators will contradict each other more frequently.

I also use oscillator “William percent’s range” but only once in order to confirm a trade or to find out if there was a “failure swing”. However i don’t use it to look for overbought and oversold level.

Timeframe
Before conducting trading, usually i will find out where weekly outlook will lead to, then daily out look, 4 hours and the last is 1 hour.

In the event that daily and weekly outlook are in the same direction therefore i will follow up such a currency. If not i will ignore it. I’m very selective in choosing my position.

Other Technical Tools
Other technical tools I use are classical technical tools, such as : resistance, support and trend line. However I operate them in a different way. I determine the resistance or support from the points made by the zig zag of the previous data.

I also use standard deviation channel to identify trend reversal.

Trading System
I design my trading system myself and I follow it in order to control my emotion in trading.

Recommendation
My recommendation requires immediate notice so I may not do posting to my recommendation in this forum. For the purpose for my trader partners who want to try it may invite me in my yahoo messenger, in mastertrade112@yahoo.com.

I analyze market everyday from 06.00 AM until 00.00 PM ( Bangkok, Jakarta, Indonesia time ). I don’t open many positions everyday. Usually I limit up to four positions per day. So my trader partners should be patient to wait for my recommendation. I will send the information concerning recommendation later via my yahoo messenger.

I will inform my trading position, position level, target limit level, stop loss level. I will also inform the update of my position. For instance, in case of change of my limit level and stop loss level. Or if I want to close my position, either to close profit position or loss position.

In making decision of my trading I make my own system. I don’t use robot trading or automatic system or the like. Trading requires judgment and assessment and there is no fixed formula which can settle all problems.

You may make your own decision but to convince you, you may try first my recommendation in acc demo. When you feel satisfied , then you may try it in real acc. If you feel suspicious and skeptical , I can understand. But I suggest that you should try to prove it yourself.

Yours sincerely,

Master Trade

My Trade Record or Performance may be seen in :
FXTrick :: Maximize Your Profit - MasterTrade112
Friendster - Master Trade112

jazzz · 11-10-2008, 06:52 AM

Forex Recommendations for the this week are:

EUR/USD

As we all expected, the EURUSD range continues to tighten. A break (likely lower) from the range (triangle) is expected next week. The upper end of the triangle line is in the 1.29-12950 zone today and Monday and is resistance in the event of an advance.

USD/JPY

The larger USDJPY trend is down so strength should be sold. Evidence that favors a new low is the momentum extreme (RSI) at 90.86. As I've mentioned many times before, price extremes (highs and lows) rarely correlate with momentum extremes. Instead, price extremes occur with momentum divergence. Support begins at 96.

GBP/USD

"The GBPUSD is supported by a long term trendline that dates to 1985. I expect a larger bounce off of this line; regardless of the larger trend…the result would be a volatile range over the next several weeks before a break to a new low." The range to this point looks like the first two legs of a triangle with price now at the lower end of the triangle. A rally is expected to exceed 1.62 by next week.

USD/CHF

The USDCHF is testing a resistance line from late 2005 as well as a shorter term upward sloping resistance line. These lines combined with overbought and divergent RSI on the weekly and daily should lead to a drop that lasts at least a number of weeks.

USD/CAD

A wave 4 low may be in place for the USDCAD. A line drawn off of highs from late 2007 / early 2008 has probided support ahead of 1.13, which is the 4th wave of one less degree as well as the 50% retracement of the rally from .9817 (low of wave 2). If a low is in place, then price should remain above 1.16.

AUD/USD

Adoption of a bullish bias is warranted on a rally above .7022 or a drop below .6544. Until then, the AUDUSD is in no-man's land." The AUDUSD dropped below .6544 today, triggering the bullish bias. Price is expected to exceed .7022 next week.

NZD/USD

Kiwi is in a similar position (when compared to the AUDUSD). The rally to .6037 is either wave a or i within a larger rally sequence. Wave b or ii may be complete at .5742 but there is risk that the pair drops below .5742 before a solid base is in place that will lead to a larger rally.