december 2008 result

12-1
usd/jpy short 93.35 -> close 93.22(+10p)
usd/jpt short 93.45 -> close 93.22(+20p)
12-2
usd/jpy long 93.65 -> 12-8 close 93.53(-15p)
usd/jpy long 93.08 -> 12-5 close 93.35(+24p)
12-11
eur/usd short 1.3342 -> close 1.3325(+15p)
eur/usd short 1.3357 -> close 1.3325(+30p)
12-12
eur/usd short 1.3395 -> close 1.3310(+82p)
eur/usd short 1.3375 -> close 1.3310(+62p)
12-15
eur/usd short 1.3730 GMT5:41 -> 12-16 close GMT10:50 1.3650(+78p)
12-16
usd/jpy long 90.25 GMT20.15 -> close GMT20:17 90.55(+28p)
usd/jpy long 89.05 GMT21:24 -> 12-18 close GMT18:29 90.00(+93p)
12-24
eur/usd long 1.3954 GMT17:51 -> close GMT18:47 1.3968(+12p)
12-28
eur/usd short 1.4110 GMT0:46 -> 12-29 close GMT21:13 1.4063(+45p)
12-30
eur/usd long 1.4088 GMT21:01 -> close GMT23:29 1.4110(+20p)

profit +504p
loss -15p
total +489p

my margin % is 1000-2000% so average is 1500% on each position.
if my account balance $1000, 1500% is $0.75 per pip so 489 x 0.75 = 366.75
total profit 36.675% in this month.


happy trading!!!

UKIUKI FOREX LIVE TRADING - no position yet

today is last day of 2008.
i will refresh to 2009 and make it better as always.
i am checking usd/jpy if it breaks 91 over i am looking for a position.


see what happened???

UKIUKI FOREX LIVE TRADING - close position

GMT 23:29 closed eur/usd at 1.4110(+20p) long from 1.4088
this movement is something strange??? so i closed

see what happened???

UKIUKI FOREX LIVE TRADING - eur/usd long

eur/usd long position for scalping at1.4088 GMT 21:01
tp 1.430 sl 1.4000

see what happened???

UKIUKI FOREX LIVE TRADING - no position yet

I am looking for eur/usd 15-30 min chart now GMT 18:37.
it seems like good scalping entry.


see what happened???

UKIUKI FOREX LIVE TRADING - close eur/usd

GMT 21:13 close short position eur/usd at 1.4063(45p) from 1.4410.
it was not too good movement when i had position but i learned it from bad

I am checking others now.

update:
i learned and guess monday opening gap strategy is not working well for eur/usd.
i have to follow my style as usd/jpy only.....
GMT 21:40 down to 1.3970 i am checking for eur/usd long now.



see what happened???

UKIUKI FOREX LIVE TRADING - holding short eur/usd

still hold eur/usd short reset sl 1.4400
GMT 15:57 1.4273(-163) now

see what happened???

UKIUKI FOREX LIVE TRADING - eus/usd short

GMT 0:46 eur/usd short at 1.4110 tp 1.4000 sl 1.4300
this is scalping trade so it may take smaller profit because NY is not open yet.
and any surprising news as of yet


update: GMT3:00 reset sl 1.4400

see what happened???

UKIUKI FOREX LIVE TRADING - monday opening

i am looking for gap for eur/usr because of Israel and Gaza.
when war/terror occur at other conutries, usually strong currecy is going up which probably USD than EUR.
on 26th eur went up by germany congress may add $35b more for supporting infra/school/new project. this is not comfirmed yet so eur/usd market was back around 1.415.
also, GMAC may be supported $6b from TARP and applying to TLGP.
if GMAC is qualified the TLGP, they can sell bad credit about $17b to FDIC .
so GMAC is looking for one of frederal bank then many company can be survived as GM...

usd/jpy - tough decision now.
there are many short stop position around 91.10 so it could be tough to break there.
but people are expecting for new US government 1/20 returning strong USD.
i believe usd/jpy going down this year but it must watch out by ADIA..

see what happened???

UKIUKI FOREX LIVE TRADING - close eur/usd

eur/usd long close at 1.3968(+12) GMT 18:47
just about hour left for my broker close at 1pm EST

happy holiday!!

UKIUKI FOREX LIVE TRADING - eur/usd long

eur/usd long at 1.3954 GMT17:55
tp 1.4000 sl 1.3800

see what happened???

UKIUKI FOREX LIVE TRADING - MERRY CHRISTMAS!

usd/jpy moving is slow to reach almost 91 that i was thinking to have short position.
it is too slow movement so i will see that after christmas may be monday opening.
today i am watching eur/jpy,eur/usd are looking good for scalping 15mi-30min chart for now GMT 16:00
using bollinger band, ma 10/21


see what happened???

UKIUKI FOREX LIVE TRADING - no position yet

GMT 16:00 aribia and US investor are buying $.
I am waiting for when it stop and look for short usd/jpy around 91

update:
checking eur/usd after GMT18:30 trichet speech
GMT 19:15 eur/usd didn't move by trichet speech

update:
GMT0:00 usd/jpy at 90.88 slightly raise from 89.9,
i have to wait to tokyo noon time.


see waht happened???

before starting trade forex

I wish this can help for you as rookies that just start to less than 6month then after that I don’t think you are rookies!!
95% of the people start to trade for forex going to leave within a year and lost account or giving up cuz loosing money.
So if you are already 6month experience, you are half way to go to be last 5% of the forex rookies.
This is what experience I had, Please do not follow if your situation is not matched.

1, why you start to trade forex?
I keep thinking the same question yet.
First of all, I want to make more money without changing my daily life.
I have a family, house, employee as 9-5 Monday to Friday.
So most of my time is for my family matter.

I have stock, 401k, IRA, CD, bank saving acct, etc…
But, like this year for good example.
I can’t do nothing to gain these account, that I knew since 2005 when sub-prime loan start to be worse. So I started to think about forex.
A lot of people says forex is nothing but gamble.
I believe forex is going to be one of the gamble depend how its invested.
My trading style was based on this thought, and I am not gambling with forex.

2, how much expected to make money in a month?
It is depend on your situation.
If you can trade 20hr everyday, you might get more profit.
I only can watch pc total 1-2 hours everyday, not even straight hours.
So my trading style may not be working for you to expect
Fortunately, my average result is 20-40% of balance of first day of the month.
If my balance is $1000 at 1st of month, 31th possibly be $1200 -$1400.

3, forex broker
I recommend to rookies to open demo account first.
Try all brokers demo account and find which is better to use for you.
Low spread, low amount to start, no fee, many pairs, flexible chart, etc…
Please remember that live account and demo account is big different.
I see many trader are making a lot of money on demo account then stat to live account to loose real money in shortly.

4, how to find trend
I read tons of article/news/breaking news/ forum/ BBS/history…..
Trying to get to know more knowledge of economic of each country and whole world.
Then I found a lot of wrong information also. That I have to find correction to effect to market.
A lot of fancy chart as you can see, any of them are looking good.
I suggest you all chart is after the movement, any chart tell you stochastic and probability.
My trading style is from 70% of news and economic data, 30% of chart trend.

5, risk
we all should have risk at anytime.
When I start to have position, I always think how much I can take risk of the position like how much I can loose.
Market is live movement, not technically move all the time.
So I might have to close position with some loss sometime.
Usually small risk is for short term (1min to 1 hour trade),
mid risk is for mid term(1hour to 1,2days)
large risk is for long term(1,2day to month)


6, second chance and quick move
do not rush to have new position, there is always second chance.
Otherhand, do not wait to expect more profit.
Take profit is most complicated decision,
I am taking profit when it reach 60%-80% what I expect to reach.
Also closing position must be quick even loosing.
I recommend to set stop loss when its new position.


Happy trading!!!

UKIUKI FOREX LIVE TRADING - no position yet

usd/jpy GMT 16:00 arabia investor might bought US at london fix,
raise to 90.5 from 89.5 now GMT 17:40 around 90.
this kind of movement i can't follow cuz i can not see the chart long hours during the day.
currently i am looking short if usd/jpy goes up around 91.
toyoda lost a lot this year since 1941,
also, jp use some prepared money for intervention that mean thier limit line is decreased. i think jp start to buy $ when its about 85yen recently, now 80yen and below so nobody help to buy $ until 80 and below.ofcause this is long term of my guessing.

see what happened???

UKIUKI FOREX LIVE TRADING - no gap

i dont see any gaps at usd/jpy in this morning.
no position yet.

see what happened???

MY MONDAY OPENING TRADING STYLE

i am always checking monday opening market for usd/jpy only.

sometime it is easy to get some pips at the opening if i have any news during weekend, market will be opening with gaps that might give me some idea which is short term trend. or if i did not see any news during weekend but it still the gaps, that will be back to the price at end of friday(this is easiest one).

1,if i see some gap 30-50pips with some weekend news i had.
i will find which way suppose to go then follow that trend but it is only scalping style.

2,if i see some gap 30-50pips with no news during weekend,
that will come back to the point at end of friday.
i will find out turning point by 1min chart to have position until price end of friday.

3, if i see under 20pips or over 50 gap , i am just watching how it moves.

happy trading!!!

UKIUKI FOREX LIVE TRADING - christmas week

i just read yahoo news japan stump extra cash.
also i read yahoo japan that same article which is not exactly same thing.
as yahoo's article, it sounds like just printing extra cash. but yahoo japan's one is not saying printing cash, jp use $54b out of the money come from prepared dollar-buying intervention and others that total about $600b they still have.
so,if people read yahoo news only, japan just get worse.
but people read yahoo japan news only, they dont feel the same as poeple read yahoo ..
i believe usd/jpy and others are not only economic balance, there is more deeply emotional and history.

for this week, market must not be moving as usual.
some investor need to make profit when they are loosing,some investor already take vacation till 28th.
so i have no position for now.

see what happened???

UKIUKI FOREX LIVE TRADING - no trade

usd/jpy was raised from 88.5 - 89.6 in EURO time but in NY time,
it is round 89.2 stay after $17b for auto bailout.
now US has no money, and $17 billion is just helping to run until march or april in next year.
maybe new US currency next year???

see what happened???

UKIUKI FOREX LIVE TRADING - no trade

BOJ rate decision was down to 0.1% at GMT 6:15,
usd/jpy market moved about 30p only so i have no position.
it may be more raise in EURO time ????
but i will wait for NY time for BIG 3

see what happened???

UKIUKI FOREX LIVE TRADING - closed usd/jpy

usd/jpy closed at 90.00(+93p) from 89.05 GMT 18:29
it looks like going to 91yen but my target was 90yen and wait for BOJ decision.


see what happened???

UKIUKI FOREX LIVE TRADING - usd/jpy long

i still hold usd/jpy long at 89.05 yet.
currently 88.75(-30p) at GMT16:00

opec start to discuss for new currency for oil.
so, arabia investor are buying dollar now.
and JP rate meeting friday, expecting to cut rate lower than US rate.
if JP decide to remain, i will look for short with extra careful cuz jp rate will be changing sooner or later.

see what happened???

UKIUKI FOREX LIVE TRADING - usd/jpy long

i still hold long position at 89.05
currently,87.80(-125p) i think to need reset ST 87.5 to 86.5 for tomorrow when JP rate meeting(friday)

MY FOMC TRADING

i made profit at FOMC in 2008 following my procedure below.
i hope this helps for your trading at FOMC(only FOMC)

1,wait until 2min before FOMC announcement.
because chart start to move 15 min before, that i do not believe which way to go.

2, find correct position at 2min before FOMC.
that point is my starting point of calculation

3,set short and long stop position with loss cut/TP
as this FOMC i found 90.10 is calculation start to have short/long.
short stop at 90.00 tp 89.70 lc 91.50
long stop at 90.20 tp 90.50 lc 88.50

4,if either one was hitted, cancel other.

happy trading!!!

UKIUKI FOREX LIVE TRADING - FOMC 0.75 down

as usual FOMC trading, short stop 90.00 long stop 90.25 at GMT 20:15
short stop was hitted so long stop was cancelled at sameitme
TP is 30pp, i made 30p in 2min.

now i expected 0.5% down only but 0.75% which is cheaper rate than Japan.
i believe japan will cut rate under 0.25 from 0.3 so i will look for ued/jpy long
until japan rate less than US rate.

update: usd/jpy long at 89.05 at GMT 21:24


see what happened???

UKIUKI FOREX LIVE TRADING - closed at 1.3650

eur/usd short position hitted my TP 1.3650 on GMT 10:50(+78p)
actually i was sleeping that time though..

it is FOMC today!!
and i follow my old procedure as same as before.


see what happened???

UKIUKI FOREX LIVE TRADING - eur/usd short

eur/usd short at 1.3730 GMT 5:41
tp 1.3650 LC 1.3950 now
it looks like going to adjustment before FOMC

see what happened???

UKIUKI FOREX LIVE TRADING - eur/usd???

eur/usd went up 1.37 i couldn't find any reason.
FOMC forecast 0.5% down( that i believe)

nissan CEO request to japan government to help $.
they may start to think about that if its down to 85yen and below.

after trichet speech, i will look for scalping eur/usd if its going to be range.

i am very careful to have position after thanksgiving to christmas,
many trader are taking vacation if they had profit, and others need to make profit within 1 month.
it will be more volatile than ususal.

see what happened???

UKIUKI FOREX TRADING - monday open

This is weekend news for me.
1,toyota big loss
2,announce: obama aides $1 trillion in years

it might be gap opening but it's not much i believe.
if 30-50p gap I found on USD/JPY, i will have postion for return.
otherwise, wait for BOJ tankan.

update:
some EURO hedge fund might have big loss by madoff -> sell EURO?

MY TRADING STRATEGY

This is my own forex strategy.
I hope it can help you better trade.

# SPEED OF MOVEMENT
if the chart is really fast as 100pp in 5 min, I might not have position to start.
These kind of pairs will move other side on same speed and might not be coming back.
Or its too slow to move, chart is telling many traders are waiting for next news to find new trend. That news might be surprised, so I do not have a position like this timing.

# MONDAY - OPEN MARKET
sometime market start to open with dropped/raised from end of Friday.
Then I watch how market move to make trend or come back to the point at end of Friday.
If there is any news and chart seems to move normally, I will have position when its turned. close point at end of friday

#FRIDAY – NO TRADE
I usually do not carry position to next week if that is not long term trend position.
Because any surprise news comes during weekend, I have to close before it gets worse.

#MARKET OPEN HOUR
I always think what time is NY/ EURO /JP market when I have a position.
Many trader are watching stock market that might be triggered to move forex chart

#WORLD NEWS
I will check any news from everywhere as much as I can get.
I spend most of the time to find news for my trading.

# NOT LOOK TOP AND BOTTOM
I am not looking to have a top or bottom position.
If the bottom/top are 1-100, I will take 60% as 20-80.

#ALWAYS SECOND CHANCE
forex can be short or long position to have, not like stock.
There is always second chance will come.
So I always am not rushing to have new position.

#MY RISK
there is always risk at any position I have.
Small risk come with small pips
Large risk come with large pips

#NO POSITION TRADING
I sometime do not trade when I am not comfortable to have position.
That might miss better position but it needs to have break and think twice and more
No position will be better position,

---------------------------------------------------------
I will add more……

UKIUKI FOREX TRADING - time to scalp!!

I couldn't update my position in live but it was really good!
after EUR/USD hit to 1.34, i went to short at 1.3395 to 1.3310(+82p).
and back to 1.3375 short went to 1.3310(+62p)
total +144p in short term scalping.

I was waiting NY end and start look for short before EURO start.
because I heard US investor bought EURO - they might know EURO has good news.
so I believed when NY time end, there is no indicator to see how stock moving up or down, then I thought it will be come back some.
this is my decision for short scalping.

today is happy friday~~~
and no trade.

UKIUKI FOREX TRADING - close 2 position

closed 2 position EUR/USD
short 1.3342 at 1.3325 +15p
short 1.3357 at 1.3325 +30p
total +45p

always smiling!!!!

UKIUKI FOREX TRADING - waiting for EUR/USD

just waiting for NY time around 3pm,
I received info US investor bought EURO in this morning.
so I am waiting around NY time end, I am looking to sell by scalping
when it is falling.

current eur/usd is 1.3386

see what happened???

21:44 eur/usd short 1.3342 add 22:57 short 1.3359

MY SCALPING TRADING STYLE

This is my scalping trading style.
I hope it helps you to have better trading.
First of all, I cannot watch the chart 20hr a day.
Cuz I am regular employee 9-5 worker and have wife and kids.
I only check the chart about total 1-2hours a day.
So Please do not follow this rule if your situation is not match.
Also I am always happy when I am trading.
“UKIUKI” means happy happy!!

-BEFORE TRADING-

1, Basic idea when you start scalping, check the country market is closed or the chart is moving as range on your pairs.
Also strong currency pairs is not always high volatility so it might be chance to be scalping.

2, CHART

I am using MT4.
BOLLINGER BAND
EMA 10/21
MACD
ADX

a, check 1H/15min chart to find very short trend
b, check how wide is range in waving time(time to top to next top)
c, check your spread is worth it when you are scalping.
For example: if the spread is 3pip and range is only 10p, your trading range is between 7 pips only, and if you take risk within 7pip range, you might get 1,2 pip each time followed by trend.
If you try to against trend, more risk and that is not worth it.

-TRADING-

a, buy or sell on 1min chart followed only 1H/15min short term trend, do not against them!!
b, keep margin % is over 1000%.
c, hint is how candle move to pass the middle line and see the candle reach to top/bottom line then which way to go.

-COMPARING PAIR-
if I look for usd/jpy, i am comparing gbp/usd,eur/usd,sometime sek/jpy to find how strong the currency to buy/sell then to have better position.
but it is not work well after breaking news so what i do is finding most safe position.
for example,
usd/jpy - short term trend is up
eur/usd - about neutral (lower)
gbp/usd - short term trend is down
if usd/jpy is going up fast, eur/usd and gbp/usd going down fast, i will look for rebound as return to price at started going up.
hint is gbp and eur also usd and jpy are somtime similar movement to other currency.


-TIPS-
Think millions time until you decided
Also Do not think you missed have only a position, another best position will come again!!!

happy trading!!!!

UKIUKI FOREX TRADING - no trade

USD/JPY is really slow move now.
just checking how is EUR/USD.

see what happened???

UKIUKI FOREX TRADING VOL2(swing)

MY SWING TRADING STYLE

This is my swing trading style .I hope it helps you to have better trading.First of all, I cannot watch the chart 20hr a day.Cuz I am regular employee 9-5 worker and have wife and kids.I only check the chart about total 1-2hours a day.So Please do not follow this rule if your situation is not matchAlso I am always happy when I am trading .“UKIUKI” means happy happy!!

-BEFORE TRADING-

1,Collecting information for country economic
and do not use old information if the news announced 1hour before you start to have new position. So keep update!!!

this is my resource.

Yahoo news
AP news
Reuters
Forex factory
Some Japanese BBS

2, Think yourself what market think about latest newsand see how market movement by any resource that
president speech/economic calendar and data/dow jones/major company data/ etc,,,
market is alive you can’t predict how much raise and fall.
So, most important is how much you can take your risk(loss cut)/time/ profit.

This is one of my example ,
USD/JPY – LC 150-250p / end time up to 3-5days/profit 50 – 150p
EUR/JPY – LC 100-200p / end time up to 2,3 days/ profit 50-100p
EUR/USD – LC 150-250p/ end time up to 3,4 days/profit 50 – 100p


3, CHART

I am using MT4.
EMA 10/21
MACD
ADX

a, check daily chart how is trend
b, draw lines high/low on 4H chartc, checking 1H chart where is current location from high/low line.

3, start to have position

a, check 15min chart when you decide to have position for make sure.
b, keep margin % is over 1000%.
c, and always finding best position you have comfortable to watch after you have a position.


-TIPS-
Think millions time until you decided and you should have reason why market will go raise or fall.
Also Do not think you missed have only a position, another best position will come again!!!

happy trading!!!!

UKIUKI FOREX TRADING - no trade

after long position closed at 93.53(-15p) from93.65 while i was sleeping.

auto bailout $15b but this amount is just for a couple month to survive.
they said they needs $34b when they were asking. so this bailout is just problem carrys to Obama's decision.


currently, EURO seems little a bit stronger.
i am watching EUR/USD, EUR/JPY.

see what happened???

UKIUKI FOREX TRADING - monday opening

monday started same rate as friday end 92.85

i am looking for closing my long position around 93.5 - 94.
also if its going up around 95 - 96, i will go short
92.5 - 95 no position
blow 92 long position

depends on GM...

see what happened???

UKIUKI FOREX TRADING - MY TRADING STYLE VOL.1

This my trading style basic.
I hope it helps you to have better trading.

First of all, I cannot watch the chart 20hr a day.
Cuz I am regular employee 9-5 worker and have wife and kids.
I only check the chart about total 1-2hours a day.
So Please do not follow this rule if your situation is not match

Also I am always happy when I am trading .
“UKIUKI” means happy happy!!

-MY BASIC TRADING RULE-

1, management margin
a, keep the margin % over 1000%
b, max 2 positions at same pairs
c, loss cut must be set 150-250pips depend on pairs and current market

2, fundamentals
a, read all article
b, get latest info

3,chart
a, update support & resistance line
b, check day/4H/1H for swing
c, check 1H/15min/1min for scalping


-BEFORE TRADING-

1, collecting information for country economic
2, check other persons who is trading for these pairs
3, keep updating the latest info


-TIPS-

I don’t have certain profit target when I have position.
I just decide how much fall and raise by my trading rule.
Also Don’t forget to take risk!!
So far, my average is 20%-40% profit by monthly.
Happy trading!!!!!

UKIUKI FOREX TRADING - close 1 position

usd/jpy closed at 93.35 long position 93.08. +24pp
still holding long 93.65 over weekend.
it has been 3days to keep 93.65 and i will close if it reach to 93.50(-18)

usd/jpy the market raise over 100pp in an hour.
i guess one of auto maker merge to other, it's going to be "BIG 2".....
now congress is asking them how they survive after new BIG start.

see what happened???

UKIUKI FOREX TRADING - holding long posiotin yet

non-farm employment was worse but market already know so it drop and up to NY time started.
hearing from BIG3, US government will help them to avoid bunkrupcy.
now they are under control by US government.
that will make japanese auto company is getting hard time for selling their car at US.
as Honda quit to make F1 engines, I believe toyoda will cut something also.
better for USD raise???

see what happened???

UKIUKI FOREX TRADING - holding long position yet

usd/jpy long 93.65+93.08 still holding yet.
it reached 92.98 while hearing for "BIG3" but there was not any better soutions...
now around 92.7 sam as yesterday..
bouncing back at 92.46 so seems like range market.
also i am collecting swap point by this long position.
may try to scalp like this range market.

see what happened...

UKIUKI FOREX TRADING - holding long usd/jpy

still holding usd/jpy long 93.08 + 93.65.

ISM announce is not too bad.
the market moved to lower before anoouncement to 92.55 and now
battling around 92.7...
why i didn't buy another long at 92.55?
that is one of my rule that max is 2 position same pair.
and loss cut is 91.00
i hope it reach to 94.00 TP today

UKIUKI FOREX TRADING - usd/jpy long

usd/jpy long 93.65 and 93.08
expecting announcements for auto crisis saving by US government to raise.....
for now, around 93.30 even dow is up.
so i am waintg to tokyo open expecting nikkei is going up with usd/jpy by toyko noon time.
see what happened???

UKIUKI FOREX TRADING - bernanke/paulson

usd/jpy shrt 93.35 at bernanke,
usd/jpy add shrt 93.45 at paulson 15min later,
close at 93.22 total 30pp today.

this is my trading style for scalping.