Category Archives: Uncategorized

Chart of the Day: NZD/USD

Hi all!

Hope you’ve all made some great trades this week so far. Three more trading days left in the week and I look forward to them being lucrative ones. πŸ™‚

So, my choice for Chart of the Day is NZD/USD. The pair has been trending upwards practically since March and really performed well last night and into the early morning hours. It’s on a pullback at the moment but I’m sure it’s temporary as “nothing goes up forever”. Let’s look at the chart, shall we? :

nzd.usd 9.22.09

The pair rose over 160 pips duringΒ  the course of 12 hours. It was a steady climb which shows the overall strength of the pair. Keep an eye out for important NZD economic data out at 3:45 pm PST. It concerns GDP for New Zealand.

In other news, I have begun sending out daily emails(5 days a week) containing my potential trade picks for Forex. If you are interested in receiving these emails, please contact me at forexisthefuture@gmail.com , and I will add you to the list. I’m sure the picks could be helpful to those of you who may want a list of currency pairs to keep an eye on to trade. πŸ˜€

Have a wonderful day, everyone!

Forexgal_1.

Quote

Been on the grind and haven’t been blogging much lately due to WordPress issues etc., but I wanted to make a quickie post. Here is a quote I came across:

Success or failure is caused more by mental attitude than by mental capacity. – Sir Walter Scott.

Simple, straightforward and very very true. Half the battle is believing in yourself and what you can achieve, not only putting in the work.

Forexgal_1.

I’m back!!!

Hi friends!

It’s been a while, hasn’t it? My sincerest apologies if you’ve been checking in frequently or even just on occasion only to find no new updates. I have now returned from my impromptu month-long blogging hiatus…and am ready and rearing to go! πŸ˜€ Hope you’ve all had successful trades in the past few weeks. I have been updating my twitter page(bottom right on this page) frequently so to those of you who have been checking in on that, I am grateful for that!

The last month for me has been a learning experience. I’ve had my ups and downs, moments of triumphs and stumbles, and I have taken them in stride. Anyone would tell you that life will not always be a bed of roses but when things do go sour, the best route is to assess the situation: identify the good and the bad and move on. At times I have to remind myself that failure comes with the territory, that I shouldn’t be afraid to fail because it means that I am making progress. Everytime we fail, it’s an opportunity to improve, make new plans until we finally succeed. Even when we succeed, there is always room for betterment, which is another thing to keep in mind.

Five things I learned while on my hiatus are:

1. Stop losses are for the most part, hugely ineffective. I made my most devastating losses using stop losses. I found myself paying more attention to how far away my trades were from being ‘stopped out’, hoping and praying for things to turn around, instead of cutting my losses manually due to poor choices. When I ended my use of SLs, minor fluctuations didn’t bother me as much, somehow I became more confident in my positions and the number of losing trades dropped dramatically. I don’t know if it’s all merely trading psychology but having an increased number of winning trades makes me extremely happy. πŸ˜€

2. Going with your gut is an important part of trading successfully. After analyzing the data and putting everything together to come a decision, make sure that the trade not only looks right but feels right. Whenever I have doubts, I don’t get into that trade, and in the end I am usually right. Of course, there is a difference between doubt and fear of trading, which is not getting into a trade for fear of losing. Controlling our emotions is a huge part of trading but over time, this issue can be overcome.

3. Using too many secondary indicators can be detrimental to trading. Not only does it crowd the chart, it can cause you to lose valuable time in making a proper decision. The basic idea of trading is knowing how to read the chart correctly. We don’t need to look at any unnecessary data to confuse us when we need to make quick, yet thorough, decisions.

4. No second guessing. This goes hand-in-hand with #2. Whenever I second guess, it’s like I’m throwing all my initial analysis and confirmations out the window. Being confident in your trades is so vital and I’m still learning not to doubt myself at times.

5. The trend is your friend. This is self-explanatory. Being impatient and going against the trend never ends up well. Timing is everything, and trading a pullback can be profitable, but doing your analysis and trading in accordance to the trend is will yield even better results.

Hopefully, this post will prove helpful to at least some of the readers of there. Everyone has their own systems and philosophies and I think it’s great to read what others are thinking and going through. I’m here for anyone who have any questions they would like to have answered about Forex. There’s so much to learn, so much I have to give myself time to find out and implement into my ever-evolving trading system. Forex hasn’t been open to many people, it is not nearly as talked about as the stock market, and is still pretty much the world’s best kept secret. My new goal now is teaching my dad how to trade and I have already begun to do so. He’s very keen on learning and that, I believe, is a great sign of what the future holds for not only myself but my family. It’s an amazing privilege to be able to teach and pass down knowledge to others, I also plan to teach my son when he is older so he can have a foundation for his future even if he doesn’t make trading his primary interest for a career prospect.

So, I’ll end this now as I have rambled on long enough. Please feel free to email me anytime at forexisthefuture@gmail.com , I love hearing from my readers. Also, don’t forget to follow me on twitter, you can message me there if you’d like!

Have a wonderful day, everyone! πŸ™‚

Forexgal_1.

Computer Issues

Hi everyone! Hope you all had a wonderful weekend. I’m currently experiencing some computer problems so, I’m unable to post a proper entry at the moment. I’m sureΒ  to be up and running again tomorrow, so don’t forget to check in then! My apologies to you all…

Forexgal_1.

Follow me on Twitter!

Seems like everyone’s on Twitter these days so I figured that I might as well jump on the bandwagon(not that I’m regularly one to join the crowd ;)). It’s such a huge craze as it allows us to leave messages/updates for our friends to keep abreast of what we’re doing, at what time.

So, follow me and read my updates atΒ twitter.com/forexgal.Β  You’ll know what I’m doing, what currency pairs I’m looking at, random Forex chatter…yadda yadda yadda.

Here’s a screenshot of what the webpage looks like:

twitter-forexgal1

Don’t forget to check me not only here but on Twitter daily! If you sign up, you can add/follow me from your own page to get my updates and also be able to leave comments. Can’t wait to hear from you all! I love hearing feedback, I’m always open to suggestions and comments. πŸ˜€ .

Forexgal_1.

Blog Issues :(

Hi everyone!

Hope you all had an enjoyable weekend. I seem to be having some blogging issues today. I look forward to having it all sorted out by tomorrow. I have already attempted to post my original blog at least 4 times but it hasn’t worked out to my advantage. Be sure to check back tomorrow but my analysis and commentary about the market, I will have a blog up then, after all…the show must go on. πŸ™‚ If you have any questions at all, please feel free to email me at forexisthefuture@gmail.com or leave a comment here. Thanks so much and sorry for the inconvenience!

Forexgal_1.

Happy Presidents’ Day!

Hope everyone’s had a nice weekend. πŸ™‚

Today is a bank holiday so it appears that there has not been much move at all today. The market has no defined trend at the moment, it is merely in a rolling stage. If you attempted to trade now, the market would just roll your money away…you would just lose it all.

There is no significant news to report on today either but tomorrow I will be back to work as usual. Today, I’m just taking a bit of leave to spend time with my family. Remember that, all work and no play makes Jack a dull boy…so, go out and have some fun for a change! We all need some rest and relaxation so we can have our minds renewed and rearing to go.

See you all tomorrow! πŸ˜€

Forexgal_1.