It seems that GBPUSD has turned, but we still have time. I manage to snatch 80pip and get out. At the moment I am no longer holding any post. The signal as follows

Long GBPUSD @ 1.7440 or better
SL = 50pip. Try to find the best entry possible. It is in ranging phase now
TP = 100 pip or more or hold till I tell you to close

AUDUSD 0.7220

EURUSD 1.3475

Good luck is the brutal world of forex

This was an article I posted last year. I took it down due to some agreement between me and Henry Carol. It seems that he forgot about it and forgot to fill his end of the bargain. Furthermore I notice his website claims profit of 1420pips on March this year. Kind of hard to believe if you are in my position. Keep on reading on the original article and maybe you can understand why is it hard to believe for me. Hopefully this article can give you some ideas on what is going on.

Lately I found myself having very little time to trade. On August 07 I only traded for 3 days due to my day job requires me to travel alot. So I look around the internet for an account manager. After looking around I've decided to let someone whom I once bought signal from to manage my account. Below are his details.

YM name = double88forex aka Henrycarol
Real Name = Leong Tian Su
Maybank A/C Number = 108011745015
Phone Number = +6017 888 0963
Website = http://www.profitpips.com/

He is an IB for Northfinance.com, meaning that anyone who open an account under him will entitle him for commision based on trading volume. The more you trade the more he earns.



After showing some impressive account statements, and promise for a target return of 50% a month I finally handed over the account to him. You can click on the picture to see the result of his trade. It is pretty impressive to see what he can do with USD2k in 2 weeks time.

As you can see he totally lost it in 2 weeks time. After he lost it, he just say that he is being reckless and asked me to fund the account again so that he can trade again. What you guys think I should do?

Money I have and money I can find, but the hardest thing to find is responsibility and friendship. You will be surprised at how easy it it a human can be bought by money. You guys might say USD2000 (RM7000) is a lot of money to lose but know this, I have lost more money to people whom I know as friends. These 5 years I have friends that borrow money from me for a total of RM12,000 and I have never seen the money back. Once they have got the money they will just avoid meeting me.

This is a sad story of how I lose my spending money. I hope that all of you out there can be cautious about who you give your money to be it online or offline. This is because once a friend borrowed money from you and he decided to split you will lose money and friendship. They just dont understand that all the power and money in the world counts for absolutely nothing when you are alone. Which is it that you want? More money or more friends?

Anyway back to trading, fasting month is a month of rest for me. I can spend more time in the office so I have time to trade. Last week I gain 10.99% of my account. Hopefully I can maintain that till end of the month. Happy trading everyone.

UPDATE:

I forgot to mention one thing. On top of the USD2000 there was also a setup fee of RM300. I totally forgot about it and that is why I didnt mention it on the above post.

After I posted this story, Henry Carol contact me again via YM with an offer. Take down this story and he will return me the setup fee of RM300. What you guys think?? Good offer or not?

Its been a good week. Last week I posted signal for UJ and GU. I was hoping UJ to make the move but instead GU has done it. Over 1000 pip move. UJ is undecided due to the US economic situation and the 700b bailout plan.

At the moment I have closed all post. GU and GJ is making the strongest move of turning but it wont turn just yet. If you are used to these type of market you will understand that it will take time. So next week hopefully all goes well and a trade signal will come up.

Looking at the chart GJ is closer to breaking the trend compared to GU while AU is going flat now. The rest is slowing down except UJ. I dont know where its going.

Happy trading and see you next week. Hopefully :)

Last signal of AudUsd failed. AU decided to turn the trend with a single move. Currently working on a short term system. Now I know its really hard, to trade short term but always trade with fixed amount of SL in order to control your loss.

Long UsdJpy @ 105.20 or better
SL = 50 pip
TP = will inform later.

EU and GU is currently in uptrend mode with EU being the strongest of the two. Correction is coming. Its better to short GU at 1.8622 or better. You have to calculate the risk yourself.

AudUsd has made a double top level 3 (thats what I called it). signal should be as follows

Short AudUsd @ 0.8074 or better
SL = 50 pips
TP = will inform later (Its a moving target)

There are many ways to make money in Forex, not to forget there are a million ways to lose money in Forex market. Its an open market design for open competition. Only the smartest will survive.

A little something about Baseline Trader. I have spend more than 2 years looking at charts. I am looking at charts through technical aspect. Meaning, there must be some logical explanation why forex behave the way it is. Looking thru the naked eyes, forex market is unpredictable, wild and hungry. Its like a tsunami wave, destroying everything in its path but then there are wave surfers who make a living out of surfing waves. How is that possible?

Baseline Trader will be based on Fibonacci numbers. Believe or not, Fibonacci is a wonderful mathematical calculation. In the chart there will be short term and long term trade, fib levels, entry and exit, sl level all bunch up in a single chart. Sounds too much but believe me, once you know how to read it, one glance and you know where you are going to be. It is design to be simple yet precise. If you read the chart right, you will always be with the trend and you will always know your exit.

Below is a chart of GJ trade which I took. I like to share with you the chart since willcare is giving signal in the opposite direction. My entry and exit point is based on Fib levels. In the chart the level is not shown since Marketiva doesnt have the indicator available. My full chart is on MT4. Btw, I missed my entry so I will not trade GJ for now. My entry is exactly on the black line.

Its been a long time since posted. On 16 July 2008 that is my birthday, a friend of mine call me up and gave me a birthday present. He said that I should short GBP/USD no matter what. Guess what, till today GU has moved down 2500 pips. Talk about a good birthday present. Thanks Abbas.

I will be posting a short term trading strategy soon. I called it Baseline Trader. It is a short term trade strategy couple with a good money management will give you good result. It is because the high win trade ratio.

In the mean time just sit back and enjoy my birthday present