Signal for Jan 31, 2008

January 31, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
SHORT
Stop 1.9965
Target 1.9605

USD/CHF:
No Trade

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935
Exit around 0.7655

Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 30, 2008

January 30, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
No Trade

USD/CHF:
Exit SHORT

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935
Exit around 0.7705

Posted by tradingroom | Filed Under Free Trading Signals 

10 Reasons Why You’re Failing to Make Money in Forex Trading.

January 30, 2008

If you’re frustrated with your trading time for money, then you’re going to love what I’m about to share with you. Something I’ve realised over the last year is that being successful forex trader is as much to do with having the correct attitude and mindset as anything else.

Like any new venture, there’s a steep learning curve involved building a profitable expert advisor and it can often be a frustrating experience.

Particulary as the daily bombardment of marketing messages about new forex trading systems and new expert advisors tends to make you feel like you’re the only one left not making money.

So anyway, I’ve been thinking about why many newbie’s find it difficult to make money in forex trading. Here’s my top ten reasons…

  1. Spending too much time reading, learning, buying, watching and not enough time DOING your own research.
  2. Not taking your trading business seriously enough.
    Always keeping a trading diary; by keeping a diary forces you to think through your idea because you have to write it down. Additionally a written trading record provides you with an opportunity to review your thought process so that you can replicate the successful trading ideas and modify the unsuccessful one.
  3. Not focusing your efforts on a trading system (whether it be day trading, swing trading, scalping trading or whatever) for long enough to see results.
    Often this is because you get distracted by the ‘next big thing’ forex trading system or new expert advisor being promoted by all the so-called ‘guru’s’. You must trust your own trading method. You must have a methodology by which you go about your trading business and you must trust it; otherwise you are not operating in businesslike manner. you will end up chased the crowd.
  4. Because there are so many forex trading system and forex mechanical system (metatrader expert advisor), it becomes almost impossible to know where to start. So you end up doing nothing. 
  5. Lack of perseverance. You start off thinking earning money in forex trading is easy (because everyone else seems to be doing it) and quickly become disillusioned and give up when it dawns upon you that it actually takes hard work and dedication. 
  6. Directing all your efforts into a forex trading system that is either unprofitable, or you lack the knowledge to make it profitable. 
  7. Not setting up your forex trading system or your expert advisor in the right way to be profitable from the outset. 
  8. Lack of a clearly laid out route to success. Always be aware of the bigger picture. A very important factor in having an edge in the market is to be aware of the big picture-where the trend goes and identifying the support and resistance of market that exists.
  9. A failure to set practical, achievable, specific goals.
    Lot of newbies set an impossible profit target and set your goal to high. There is no free money in forex trading. Don’t dream it, many so called guru advertise their very profitable a trading system which almost guarantee make profit every month.
  10. You are not using smart money management.
    You need to know when to cut your losses. Wheter you are fundamental or technical trader, always remember that market conditions change all the time. Most newbies ‘believe’ the market at the end will play out your way, and you end up losing to much money.

Perhaps some of those ring true with you? I know I’ve been guilty of most of them at one point or another. So if you do recognize yourself in that list, atleast take heart from the fact you’re not alone. And remember, it’s never too late to change bad habits or direction if necessary.

Yohanes R. Gagahlin is a Certified Trading Advisitor/Money Manager and Expert Advisor Developer. Forex Hope (http://www.fxhope.com) - Switch Capital Management offers forex training, fund manager and profitable forex metatrader expert advisor software.

Posted by gagahlin | Filed Under Articles 

Signal for Jan 29, 2008

January 29, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
Exit LONG

USD/CHF:
SHORT
Stop 1.1125
Target 1.0565

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935
Exit around 0.7705

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Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 28, 2008

January 28, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
LONG
Move Stop 1.9460
Target 1.9935

USD/CHF:
SHORT
Stop 1.1125
Target 1.0565

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935

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Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 25, 2008

January 25, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
LONG
Move Stop 1.9460
Target 1.9935

USD/CHF:
SHORT
Stop 1.1125
Target 1.0565

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935

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Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 24, 2008

January 24, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
LONG
Move Stop 1.9460 from 1.9335

USD/CHF:
SHORT
Target 1.0565

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935

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Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 23, 2008

January 23, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
LONG
Stop 1.9335

USD/CHF:
SHORT
Move Stop 1.1125
Move Target 1.0565

USD/CAD:
No Trade

AUD/USD:
No Trade

NZD/USD:
SHORT
Stop 0.7935

Undergoing MyBlogLog Verification

Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 22, 2008

January 22, 2008

EUR/USD:
No Trade

USD/JPY:
No Trade

GBP/USD:
No Trade

USD/CHF:
SHORT
Stop 1.1195
Target 1.0835

USD/CAD:
No Trade

AUD/USD:
SHORT around 0.8645
Stop 0.8715
Target 0.8510

NZD/USD:
SHORT
Stop 0.7690

Posted by tradingroom | Filed Under Free Trading Signals 

Signal for Jan 21, 2008

January 21, 2008

EUR/USD:
SHORT
Stop 1.4715

USD/JPY:
No Trade

GBP/USD:
No Trade

USD/CHF:
No Trade

USD/CAD:
LONG
Stop 1.0145
Target 1.0495

AUD/USD:
LONG

NZD/USD:
No Trade

Posted by tradingroom | Filed Under Free Trading Signals 

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