Forex Friend

EUR USD My Favourite Pair

2009-11-23T14:43:00.000-08:00

Hi, This is the chart set up that used to trade EUR/USD pair around 30 minutes ago. I have made 10 pips with my last trade. Basically I use support and resistance levels to enter the trades in order to minimize the risks. Last week I was able to make 165 pips with this pair. I will be adding more trades soon.

Forex Eanings Update; March 2009

2009-04-04T11:10:00.000-07:00

Now am able to trade very confidently even during the worst times. Last month I made 2669 pips profit with a single currency pair EUR/USD and it is my best pair since started trading currency. To make profit consistently the only thing that you have to follow is a plan. If you plan you will never fail. During the first year of currency trading, I was not able to make a single pip profit. This is really a wonderful business because this is totally different from Trading Stock. Now I am a full time blogger and Forex Trader. If you really want make a profit from Forex Trading the step is to educate yourself. Then you will never loose. Bye for now but not forever.

Happy Blogging and Forex Trading.

Trade EUR/USD with 76 pips profit

2009-01-16T18:42:00.000-08:00

Hello Forex Friends,

I would like to bring your attention that there will be lots of trading opportunties during this week with EUR/USD pair. If you concentrate on this pair you will be able to make lots of pips during this starting week. So please open your eye make at least 100 pips during this week.
Last week was a big week for me that I was able to make 76 pips and my total trade for this month is 350 pips profit.

Wish you all success with forex trading. Good Luck. Your forex Friend

Thing Big. Your thinking power is unlimited.

Head and Shoulder Forex Pattern - Best way to trade forex

2009-01-03T14:43:00.000-08:00

Today I was able to catch 110 pips with a perfect head and shoulder pattern with EUR/USD pair. When I trade with patterns I lose only 5 percent of my trades. My advice for new traders is that please always trade with pattern until you get educated yourself with all necessary information about the technical and fundamental analysis.

Good Luck
Forex Friend

Head and Shoulder Forex Pattern

2008-10-07T01:24:00.000-07:00

Yesterday was a big day for me. I was able to catch 108 pips yesterday alone. For the beginners these kinds of head and shoulder pattern would be very important. Anybody can identify trade with patterns without any confusion and without losing a single pip. My first advice is always wait for the perfect patterns and then open your position. Hope that you will enjoy the example that I have presented in this post. More example coming soon. Happy Forex Trading.

Forex Trading with Patterns

2008-10-05T01:22:00.000-07:00

Hi Its been long time since I dont post anything in this blog. Last week was one of the successful week in my forex trading history. I made more than enough pips and got out of the trade and I am waiting for the next week. During the next week there will be lots of opportunity in the forex market. Especially in EUR/USD pair. Today I am presenting you a very interesting you tube video which can assist you to make some extra pips in the week ahead. Hope that you will enjoy this Video

Today I got a winning trade with 6 pips

2008-06-17T21:36:00.000-07:00

On 18th June 2008 in the morning at 7:50pm I checked the how forex market is doing. I opened the EUR/USD hourly chart and saw a very perfect pattern. However I dont depend on it but it was a good sign that the chart is going to tell you the truth. Well there you can see head and shoulder pattern. There is a very nice double top which was perfect to catch a nice trade. Pivot point is at 1.5471 and it indicates further upside and the support at 1.5494 indicates there was a stronge support area that i took into consideration. I gave the price few minutes to touch the support level and then it bounce back then I opened the position at the upward trend line resistance area and sold again at the support area. Easy Trade within just 15 minutes. 6 pips is a nice count. More screenshots coming soon

Full Time Forex Trading

2008-06-14T05:02:00.000-07:00

First of all I have come across so many former traders who failed to dowhat you are now doing. You are reaching out getting information fromthose that have or are in the process of "surviving" towards becoming afull time trader. During my transition into this wild and wacky world I was always amazedthat one VERY important question was NOT being asked by those whoTHOUGHT they were interested in full time trading and that was "WHAT DOSUCCESSFUL (FULL TIME) TRADERS DO THAT UNSUCCESSFUL FORMER TRADERSDIDN'T DO?"HOW does one make the transition to full time trading isn't as importantas WHEN does one make the transition.The simple answer to the HOW is... well.. ultimately you just DO IT...there however is a caveat... To be successful you will have needed toanswer the WHEN question before making the actual leap....What is involved in the "When does on make the transition?" This iswhere the adventure begins!!!Generally speaking.... You HAVE to be prepared to commit TIME andEFFORT... You HAVE to embrace PERSISTENCE covered in ENTHUSIASM.. .. Youcan NEVER give up.... You cannot be deterred by what others think or sayto you...You HAVE to KNOW yourself.... . You need to study your reactions.. Youneed to be aware of how you "treat" yourself under stressfulsituations.. . You need to learn how to relax... You need to observeyourself.... The MOST important factor to success in trading is NOT thecharts it is YOU and your reactions... .The second most important thing that you MUST learn about is RISK andMONEY MANAGEMENT. Too many traders' underlying assumption for tradingsuccess is "If I have the right combination of chart patterns andindicators I will prevail." That is NOT the case. MONEY MANAGEMENT. MONEY MANAGEMENT. MONEY MANAGEMENT. Without it you will NOT besuccessful.The third most important thing is a TRADING PLAN. This, of course, willbe dependent on my first two points of KNOWING YOURSELF and your RISKTOLERANCE.Unfortunately, this does NOT all come together in a logical sequence. You will encounter a hodge podge of experiences on all these levels asyou do your paper as well as live trading.For me personally, my transition to full time trading turned into a fiveyear plan. The beginning years were much more informal as opposed to mylast two. I traded approximately 1000 qualified paper trades. (Byqualified I mean they would meet the criteria of an actual live trade. Stops are within realistic parameters.) I then made the transition totrading 1000 mini lot trades. Profit was NOT the intent. It was LEARNING about MYSELF, LEARNING about my RISK TOLERANCE, LEARNING aboutwhat TYPE of trader I am.My confidence grew... I KNEW that I could make 100 pips per lot perweek. This is the point where your HOW question comes into play. I thenstarted to trade two nights a week with my normal trading account duringpart of the London session. (I have a personal bias towards thisparticular period.) I started to cut down my hours at my "normal job". I made sure I had enough money to trade with as well as temporarily tolive on.I can guarantee that if you have the passion and the resolve your lifewill be changed in a manner that you have to experience to understand.. .Do NOT be dissuaded by the 95% failure of others.... They either didNOT ask right questions, did NOT know themselves and started tradingwith large amounts of money too early, lacked the "true fire within" tosucceed, or simply discovered that this life choice was NOT for them...Enjoy the adventure!!!