Financial Freedom : Forex Trading ??
This blog is like a diary or a bookmarks for me.. I'll put the on-line articles, lesson or video (in future) or anything about FX that trigger me up, while I'm browsing fx websites/forums..(Self References). Its like, going to a bookshop, buy a few books, then read a bit by bit..LOL
Thursday, September 08, 2011
What is the best pair to trade using chanelling Technic?
Thursday, July 21, 2011
Wednesday, February 24, 2010
Still a Relevant Method
Monday, May 12, 2008
Strategy for 'Visualize' People
Chart Pattern n SHI Channel n Fibbonaci, using 1D T.F...
I feel like this strategy really suits me (as at now).
Busy at project site which do not have internet access and tight date line, sometimes, i only manage to see charts only once or twice a week..
That's why i see charts at 1D Time frame(T.F)..
Usually, Traders will take more than 300 pips if the use the 1D T.F, However, since i don't have enough time to analyse, I take what ever i could, it depends on the Pattern cycle (for e.g.. now, what i can see from the chart, it is a half inverse head and shoulder.. so its going to be a full inverse HnS within next few day).. I just open up a buy position for EurGbp.. my T.P is at Fibo 38.2 .. and the half line of SHI Channel).. I'm not even calculate how much pips would i get for this post.. But i'm pretty confident, sooner or later it will touch my T.P..
Saturday, May 10, 2008
Chart Pattern n SHI Channel
I use this for more than 6 months, and its really boost my confidence in forecasting the next trend or pattern. As a part time traders, i could make 500 pips for 2 weeks.. well it's good enough for me.. the most important thing is, i'm no longer worry of losing my FX money.
Its pretty accurate especially if you read it using 1day Time Frame and 4hr TF (for GbpJpy and all Jpy pairs) .. thru my experiment (my style of trade on GbpJpy), the SHI Channel is not suitable for TF 1H and below..
To play safe, you have to be patient on the entry level...
You can use SHI Channel with others indicators that you are comfortable with.. as for me, I use SHI Channel as to confirm what is the next pattern gonna be..
Below is the few articles about SHI Channel:-
A. 1st article
"Hi there!
Our indicator today is not one of the popular indicators yet, but it’s growing popularity among the Forex traders in their forum; the SHI Channel indicator.
Channel trading in general is one of less use trading method, however it has its fan who trading the two methods of channels: Channel direction follower and Channel breakout.
The MetaTrader version of the SHI Channel indicator (SHI_Channel_true.zip) was created by Shurka & Kevin
How does the SHI Channel indicator work?
The SHI Channel indicator and as the all of the channel indicator uses the highest high and lowest low of the price to determine the upper and lower bands of the channel.
In the SHI Channel The channel is calculated according to the given period of calculation and the time frame of the used chart, and the channel is self-adjusted (Like the Bollinger Bands).
As you see in figure 1 there are two thick lines that indicates the upper and lower channel and a dashed center line.
The channel gives the overall direction of the price movement - up or down - and may change from time to time, specially if it used with a low timeframe (1, 5 and 5 minutes).
How to trade using the SHI Channel indicator?
Actually you can’t trade with the SHI Channel indicator alone, it will not tell you when to enter the trade neither when to exit, The SHI Channel indicator telling you the overall direction of the price trend and the channels with the middle line warn you how much the trend is strong or weak, however , you have to use another indicators to generate the entry/exit signals...For more info you can go to :http://forex.eazel.com/2006/06/29/shi-channel-indicator/ "
B. 2nd article
1. DIRECTION.
SHI channels which automatically recalculate in real time gives us the direction we are going to trade. If slope is down we are only looking to sell, if slope is up we are only looking to buy.
If the channel is thin (narrow) we dont trade .
If price falls outside the channel we dont trade(unless in a trade already) we wait for a new channel to form.
2.ENTRY/EXIT.
Remembering we ONLY trade in the given direction of the slope of the SHI channel!!
for more info go to :http://fxovereasy.50webs.com/TheSystem.html
other links on SHI Channel:
http://tradingmethod01-fxinside.blogspot.com/http://www.sasyaonline.com/forex-related/forex-strategy-shi-channel-method.html
Saturday, March 15, 2008
Chart patterns are the depiction of trading psychology in motion
Below are websites that explained about patterns:
http://thepatternsite.com/
http://www.tradingpricepatterns.com/
http://www.informedtrades.com/index.php
http://www.chartpatterns.com/
http://www.thestockbandit.com/Chart-patterns.htm
why i like to study chart patterns?
"If human emotion drives buying and selling behavior, then chart patterns can help to determine where such emotions may next surface. Chart patterns are the depiction of trading psychology in motion."
Thursday, January 24, 2008
Chart Patterns : Trends & Breakout
Trends & Breakout
An important measure of the quality of a pattern is the trend that precedes it. It does not matter whether the trend is bullish or bearish, but the consistency and duration of the initial trend partly determines the well-formedness of the pattern.
The pattern is said to have "broken out" once it has crossed either the support or resistance line. If the pattern broke out in the same direction as the preceding trend, it is called a continuation pattern. If breakout is in the opposite direction, it is called a reversal pattern.
For example, a pattern described as Bullish Reversal Triangle would mean that it is a bullish signal, that is, the breakout was through the resistance line, upward. Because it is a reversal pattern that means the preceding trend was in the opposite direction as the breakout, that is, the preceding trend was bearish.
Source:http://www.interbankfx.com/Tools/PRS/Tutorials.aspx