BUSYNESSWORLD

What do you need after munching 6 servings of cookies as your snacks in one sitting? Of course the best fat burner! The next question is what brand should I take? I really feel bad after eating the half box of cookies.. I looked at the calories and from what I ate, I just consumed 750 calories as a snack! grrrr! I need to put masking tape on my mouth so I can stop eating.

.. by being persistent, having strong determination, and right attitude.. I know I will get there too This is one the lesson I learned from reading Ed Ponsi book regarding trading.  I know something is wrong with my trading. And I admit my mistakes. His book reveals all wrong strategy that I’m doing.  And while it’s early to fix things, then I have to do it.. I don’t want to be like in  spider traps that no way of getting out.

If there is anything I have that cost a lot that would be my books. I considered them as my highly prized possession. I feel like by reading books you can acquire knowledge that you can apply and that worth more than anything. Sometimes things are not written black and white and it’s up to the person to develop that knowledge priceless.

So here is one of the latest addition on my highly prized possession.

Forex Patterns and Probabilities by Ed Ponsi

Just browsing the table of contents seems like a lot of good stuff. I read good reviews of this book from Amazon and it’s up to me now to test if what they are saying are true.

I think I can finish this book in 3 days. I have two other books that I’m waiting to arrive but those are technical books and not intended to read like a pocket book in my opinion. lol But before I go back in bed, I need to look at deals for unlocked phone that my mom can use.

I downloaded new EA (expert advisor) to use in Meta4 trading for forex.. I have not tried using it in live account. I’m only learning the signal and looking at it if I know when to enter and get out with this new system.

I have not traded for months already. I did not bring my laptop at work because my desk is in front of my supervisor. And I don’t want to give her reasons to doubt in my work hours. Anyway, I’m thinking to get a smart phone where I can download the system and trade. I need first to learn this EA so I can effectively and profit on my trading.

Such a good information to consider when trading Forex. It’s not all technical analysis, consideration for economic news is also necessary.

Short term (Intraday)

176,00. GBP JPY is in an downtrend directed by 4H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility is high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 176,50 (50 pips).
=> We could take a short position at 176,00. We will put the stop loss above 177,80 (-180 pips). The targets are 172,30 (+370 pips, risk/reward 1:2.1), 170,50 (+550 pips, risk/reward 1:3.1) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Taken from:

http://www.mataf.net/en/forex/gbpjpy#17102008053511

I always follow his analysis.. not definitely take all the recommendations or decisions but to add up on my analysis. Sometimes it’s a good idea too to see what other thinks about.

I had a phone call with my officemate the other day and we just talked about the crazy trend of stock market. You cannot really rely on how  big the company is if they will stay afloat in the industry. AIG is kind of dwindling and hopefully will not follow Lehman Brothers path of bankruptcy. I’m not holding any AIG stocks but our pension insurance company back home is affiliated with AIG. Although the company back home already give their statement that they don’t have agreement with AIG to help them out when in their financial distress, but the fear is still there.

For now, I really don’t know where to put money (as if I have too much money huh? lol) that you can maximize earnings. I stopped my forex trading because the currency is very volatile right now and I’m not that brave to dive in..specially cannot follow the currency or economic news lately.  Mostly I’m spending my time shopping online.. and that one alone can diminish funds from my bank account. lol

I need to get a flash memory card for my sister back home. So I’ll be back!

I didn’t go to work yesterday and I spent my time in front of the pc, trading and blogging. I closed all my forex trading with 36.67% profit with my investment. hhahaa So what I did right away is close my trading program and withdraw that profit. It’s better than nothing. lol I gained 36.67% in less than 2 months. I’m taking a rest and watching the market as it goes up and down. hehehe My goal is to get $300 a month to add paying my bills.. but getting more that what my goal is way better.

Worth it staying at home

I’m doing great with trading now. I’m more discipline and conservative protecting my wins. :p Unlike before that I trade like I’m using play money. lol I would say I’m more matured and conservative trader now. Have to learn a lesson as the time goes by.. as you loose money. I don’t loose hope, I’m always hopeful. That’s what I am.

I’m exclusively trading the GBP/JPY pairs.. the pips is more but the pairs move like a roller coaster in an hour. So good for short term trader like me.