Everyone must start from scratch in Forex. Some people may have the advantage in certain way but we are all equal in the land of forex.

In the beginning, most of you will try out different system and indicators. This is the process of learning. Some people may have up to 20 indicators on screen but in the end those indicators will be cut down to maybe just 3-5.

This happen because the human brain is the best processor there is. With experience we will learn the behaviour of forex and reduce the need for indicators. I have a few friends that finally develop their own trading system and they are profitable up till today. How do i know they are in profit? That is because they have been trading forex for more than a year now.

In forex there a lot of indicators available on the internet. In order for you to create your own trading system, you must understand that less is more. The less indicators you use the easier it is to trade. Lets start on how I created my own trade system.

Of all the indicators that you have tested, take the best 5 and list them down from the best to the worst. Load all the indicators on screen. Look at how the interect with each other. The best indicator is your main signal. This where your buy or sell decision comes from. Your 2nd best indicator is your filter. 3rd your target entry or exit. 4th trend indicator.

Personally nowdays i need only 1 indicator if im scalping. The most simple system is the best. In order to do long term trade i need a few indicators since finding the best entry point is a bit tricky. Below are the list of indicators im using. Maybe could give you some ideas:

1. William %R
2. MACD
3. EMA
4. Kijun Sen

Those are my indicators. Only 4 listed from best to worst. Btw William %R is a really good one if you know how to use it. Happy trading

When it is all said and done currency trading is all about the human element and all too often this is the missing element when it comes to Forex training. The human element consists of two components each trader must completely understand:

1. Others traders in the market

2. Themselves

Price bars and candlesticks are merely graphical representatives of supply and demand of the market. And what or rather who is the market? Other traders! Whether they sit in a skyscraper in New York, an brokerage office in London or like me, a home office in Phoenix, the market is nothing more than other traders.

Understanding who these traders are, how they react to events and their potential impact on the marketplace is crucial. This is why we caution our student around market opening times and the impacts of news events.

The other, and more overlooked factor in the human element is us. In my prior life as a consultant, my job was to go into a company and address specific challenges. The most difficult component of my position was to collaborate for change when the company would not. Fear of change is a power human element.

It is difficult for each of us traders to take a critical look at who we are, understand our strengths and admit to our weakness, so that we can set a course to success. Self-Mastery is necessary for all traders to make that critical leap in their personal learning curve.

Forex Journey integrates all the components of creating and maintaining a results-orientated trading system by teaching self-mastery skills side-by-side with Forex strategy and money management techniques.

As a Success Coach to Traders and Entreprenueurs and Certified Hypnotist, I deal with self-mastery skills on a daily basis and can ensure you mastering yourself will not only improve your trading, it will improve your life!

Happy Trading!!

We hit the switch and Forex Journey Currency Training Webiste is Live!!

WHAT MAKES US DIFFERENT?

There is good Forex training and there's not so good currency training. I have seen it all. I am no different than most of you who got interested in trading the Forex market while deeply involved in another, unrelated career.

I did not learn at a broker, I learend from the environment I currenlty trade in today - home! Through books, seminar and online education, but mostly trial and error. There are hundreds, if not thousands of strategies out there for this market. Believe it or not most are generally good and just a derivative of basic trend-following or range-bound strategies.

So then, why is the failure rate of currency traders somewhere north of 90%?The answer lies with each individual trader! Forex trading, trading in all liquid markets runs counter to human nature and the human element must be integrated into every aspect of your trading. That what makes us unique.

We train our students from the inside out.The secret weapon in currency trading is right between your ears and we intend to harness that weapon to YOUR fullest extend!!

The Forex Journey Website which features:

Live Market Training
One-on-One Coaching
Personal Self-Mastery in Trading to Your Strength
Live Workshops
Online Web Semianrs and much more...

I have seen so many traders look for the "Holy Grail" of trading inside the latest and greatest strategy without realizing that the true path to success in the market lies within.

The goal of our website is to teach traders to manage 3 Essential Elements of Forex currency trading: trading through sound strategies and approaches, master their emotions through identifying their unique trading personalities and trading to their individual strengths (no one size fits all here!) and lastly, through strong money management principals.

What makes us different? We put the trader at the center and craft success for the individual student.

We still maintain our recomemnded reading list over on our Lens. All proceeds from the Lens goes immediately to charity!

COMING SOON - A SPECIAL INTRODUCTORY OFFER FOR MY BLOG READERS.

STAY TUNED and Happy Trading!!

EUR/USD
EU uptrend is still intact but a minor correction is coming.
Short EUR/USD @ 1.3650 or better
Target: 1.3610, 1.3590

EUR/JPY
EJ uptrend is getting thin. This is the 3rd attempt to break the uptrend. Current wave not broken yet. This is a high risk trade.
Short EUR/JPY @ 161.90 or better
Target: 161.60, 161.20

Kepada mereka yang masih belum tahu, berikut adalah masa pasaran forex dibuka bagi negara-negara diseluruh dunia. Masa ini adalah mengikut masa Malaysia iaitu GMT+8

Sydney - 5 pagi
Japan - 7 pagi
London - 1 Tengahari
New York - 8 Malam

Salah satu cara menggunakan market open adalah kita open trade mengikut trend utama pada masa market open. Contoh pagi ni aku buka 2 position iaitu GBP/JPY dan USD/JPY pada awal pagi. Ini kerana Japan market buka jam 7 pagi seperti biasa market akan aktif pada 2-3 jam diawal pembukaan.

Pada jam 1 tengahhari nanti kita lihat GBP/USD trend utama dan kita open trade. Harapnya market akan laju dan kita boleh tutup trade dalam masa 2-3 jam selepas itu.

Harap korang faham bagaimana menggunakan masa. Demi masa, gunakan ia sebaiknya. Kepada mereka yang ambil trade GJ dan UJ mesti tersenyum sekarang ni. Al maklumlah sudah untung besar.

Sebelum aku terlupa fxegypt akan mengadakan satu pertandingan forex trading. Hadiah utama adalah usd1000. Tarikh tutup adalah sebelum 30 April 2007. Kepada mereka yang ingin bertanding boleh rujuk di http://www.fxegypt.com/index.php?s=traders

1. GBP/JPY
Short GBP/JPY @ 237.30 or better
Stop Lost @ 237.70
Take Profit @ 235.90, 235.00

2. USD/JPY
Short USD/JPY @ 118.60 or better
Stop Lost @ 118.90
Take Profit @ 118.00, 117.65

Trade at your own risk.