Update: Nov 30 2008

Folks I am currently working on a project outside of the Forex world which will take up most of my time. I plan on completing this by end of December. So while it pains me to postpone my gains on Forex, I do want to get this other project under my belt.
I will therefore not be trading during the month of December 2008 but will be back Jan 2009.

Good Luck trading, feel free to drop questions or emails as I will be checking them.
We'll get back to trading in January.....Have a safe holiday season and wish you a Merry Christmas and a Happy New Year in advance

Forex Trades for Tues Nov 4, 2008 - 9:25 pm EST

As at the time of this writing I still have my AUD/USD buy trade open from last week. While at the end of Friday it was approx 180 pips in the plus today it was over 550 pips in the positive. At the moment it is still about 450+ pips in the positive and I am going to let it ride for some more time.

My trailing stop placed at 100 pips is now at 0.6600 while I purchased the pair at 0.6450 so I am guaranteed a profit of 150 pips even if the market reverses at the moment.

Currently on the hourly charts the pair is retracing a bit but a new low has not been created and neither has it breached the 50 SMA nor the long term support line. I am anticipating it to continue to rise further till about 100% of the earlier Fibonacci. The price did touch the 0.7000 mark and has retraced from there.

For tonight I am not placing any additional trades but will wait for the right opportunity. I am already up more than 200+ pips for the month and it is still the first week of November.

Please do visit my website www.myforexdna.com should you be interested in forex education and putting a game plan for your own trading pursuits.

1177 pips for October 2008

My trades netted approx 1177 pips in profits for the month of Oct 2008 .... not bad, beat my target of 500 pips a month.
I did not close the AUD/USD trade Friday but let it remain open. I have moved the stop to capture a 50 pip profit.
It was open for a 180 pip profit as there was considerable retracement on the currency pair.

However today morning it is back up at approx 315 pips in profits and I am going to let it run for a while to check where it ends up. I may close it later depending upon market conditions.

No trades for last night or today morning, but will probably have some trades or analysis for you tonight.

Please do visit www.myforexdna.com to put a game plan around your trading and get some education.

Forex Trades for Tonight - Wed Oct 29 2008

Based on last night's trades the results :

EUR/USD and USD/JPY both lost
One trade for AUD/USD closed for profit and the other is still open

Net loss of 155 and open trade of 400+ pips hence net open profit of approx 250+ pips for one day....

Watch video for analysis and remarks including trailing stops, limits for the open trade...

Trades for Tonight - Oct 28 2008 11:20 PM EST

Have 3 orders tonight
AUD/USD
EUR/USD
USD/JPY

Please watch the video to see details of orders and the analysis of the orders.

Trades for Tonight - Monday Oct 27, 2008 9:55 PM EST

see the video to watch the analysis. No trades tonight, however may place a trade for the USD/JPY based on the break out if it occurs tomorrow morning. Watch video to see details




or click the link here

http://www.youtube.com/watch?v=tuF7ExoNmw8

Update - Sunday Oct 26 2008

Folks,
I have now updated my website www.myforexdna.com to reflect videos on Fibonacci Trading Step - By - Step ... videos are at www.myforexdna.com/FibonacciTrading.html

No trades for tonight as I did not get the time to do my analysis as I was busy updating the website.

Based on price action last week, I do not think I would have placed any trade tonight anyway.

Till tomorrow have a great day and do watch the videos and look forward to more of them.

1100+ pips - Forex Recap for the week ending Oct 24 2008

Pretty profitable week. The video below shows a recap and I will be updating my website www.myforexdna.com/forexvideos.html to reflect all videos that walk you thru all the Forex Trades from the start of the week to all the Currency Trades that happened and how I did the trading.
Pictures are worth a thousand words and hence the videos that way you can see how I did it.
No secrets, no BS, just straight simple work and analysis.
Remember when I started these videos I had no idea whether my Forex Trades would be profitable or not. I do not have crystal ball. I am no guru just an ordinary guy and no I am not "Joe the Trader" either (no pun intended) !!
But I did take the time to learn Forex and took the time and discipline to practise. I enjoy it and I have shown on the videos how a few minutes a day Forex Trading can be rewarding.
I have on the main page of my website a mini plan that pretty much anyone can adopt towards becoming a successful Forex investor.
Do take the time and do invest into your own education (and this does not have to be expensive) to learn and practise a new profession and be successful at it. A strong foundation is the only way one can hope to achieve success.



or click the link to take you to youtube
http://www.youtube.com/watch?v=5OgmmDKYkg4

Hope you like it and enjoy the videos

900 Pips for the week - Oct 23 2008

As of the time of this writing my profits for the month are over 900 pips.
The short video below shows the how I achieved these trades ... please also watch the earlier videos that show how I analysed the trades at the start of the week and patiently waited for the right moment to place the trade instead of trying to scalp the profits.
I have demonstrated over the course of the week via the videos that thru patience and a few minutes a day one can be smart about trading the markets without having to scalp profits.
Hope you enjoy this video and the 5 other previous videos on the topic.




Please do leave your feedback and let me know if there is a specific topic you would like me to cover and I will do my best to create a video on the topic.

On my website I have also laid out a simple game plan that one can adopt to achieve what I have demonstrated. I am by no means a guru at this but anyone with a bit of education (and this does not have to be expensive) can be successful trading the Forex Markets.

Forex Currency Trades for Wed Oct 22, 2008

The video below shows the results from my trades yesterday.



There are no new trades tonight as I am strongly in the plus having met my objectives for the month. I am already over 500 pips for the month from just 6 trades. As of the time of this writing I am up over 800 pips for this month already.
I do not believe we need to overtrade and so I will pick and choose the opportunities.
Feel free to visit my redesigned website www.myforexdna.com to get a sense of how to start into the world of Forex Trading. I have also posted and will continue to post new videos and categorize them by topics as time progresses.

Trades for tonight Tuesday Oct 21, 2008

The video below explains the trades I have placed and how I analysed them.

Please also watch the video which is a preamble to the video below:

Fibonacci, Candlestick Patterns, Support and Resistance

Good luck with your own trades and please let me know if you like this video and if you would like me to continue to show my analysis in this fashion.

Forex Trades for Sunday Oct 12 2008

See My Analysis of the market here (Please watch in Full Screen Mode)




No Trades for tonight as explained in the analysis. The market has been extremely volatile and there will be significant interventions by a lot of folks in the marketplace eg Feds, G7, OPEC etc.
See my note yesterday on teh Economic Meltdown as well.

Economic Meltdown and Economics 101

How did we get into this mess (without the technical financial details of mortage securities instruments).
1. The price of oil went through the roof
2. This alone led to inflationary pressures. As we started going to alternative fuels (ethanol etc) it resulted in higher commodity prices and resulting increase in food prices resulting in inflationary signs. But the underlying cause was price of oil, let's not forget.
3. This reduced the purchasing power of the people already on the threos of a depressed economy due to jobs cuts in the manufacturing sector and outsourcing of jobs overseas. (Nothing wrong in outsourcing but off-shoring needs to be done carefully with the broader economic impact in mind).
4.This reduced the purchasing power of people as they did not have enough money to meet their basic necessities.
5. The Feds raise interest rates on numerous times to keep inflation in check further reducing money supply and increasing the hardship on the middle class. Instead of recognizing that Oil was leading to inflationary pressures and taking actions accordingly.
6. As adjustable rate mortgages readjust to higher rates, folks already strapped for cash suffer further leading to increased foreclosures. To compound it home values fall as foreclosures and job losses increase. This results in a domino effect on sub-prime mortgages and sub-prime lending as people who do not have equity in their homes start to walk away from their obligations (remember the willy nilly lending upto 125% of the home values by the greedy lenders charging high fees and pre-payment penalties).
7. The effect then spills over to the prime market as home values continue to decline and oil continues to shoot thru the roof. The big three automotive start teetering resulting in even greater job losses and resulting decline in home values.
8. Continued decline in home values and increasing foreclosures finally take their toll on the mortgage securities and the financial meltdown begins.
9. The USD continues to be strong inspite of weak economic data as oil now continues to fall.

Now they want to cut rates, increase money supply and all the other kinds of things that economics 101 talks about, still however not keeping the basics in mind.

Broadly I think the basics of economics and how they affect the so called "Free Market" and its impact on currencies, stocks and the economy in general needs to be better explained than what most commentators have done on CNN, MSNBC, Fox etc.

Each has its own spin based on party affiliation and political leanings.

I am neither a Republican nor a Democrat and neither extreme left nor extra conservative. I am a moderate.

Let's lay some ground work first as my intent is not to offend anyone or their beliefs and hence will back my statements with examples as to why I hold these beliefs. I am open to correction if you can back your opinions with correct factual empirically verifiable data. The basics need to be explained in terms of the following:

1. Theory of Diminishing Marginal Utility

According to this basic economic theory the satisfaction or utility you derive by consumption of first unit of any item (eg donut if you are hungry) is greater than subsequent units of consumption. When your needs are met and you are satiated (satisfied) then you do not derive any satisfaction from consumption of additional units. Accordingly the marginal utility or satisfaction you derive from consuming every additional unit is less than the satisfaction you derived from consuming the prior unit. What this really means eg is when you are lets say hungry the satisfaction you derive will progressively decrease with each additional morsel of food you consume as your hunger will be lessen.

2. Why money, wealth and other collectibles are an exeception to this theory (inspite of what anyone may say to the contrary). This is because of the basic greed, ego and other traits of humans. eg pride .... it is difficult to remain humble when you are successful and the more recognition bestowed the more an indivdual may seek feeding their need for pride and ego. Lots of great people in history and current times are full of these who have risen to the occasion and then have had great falls .... from politicians to actors to ordinary people in your own communities.
Similarly, Greed is again one of the exceptions for many humans (not all) as the more they have the more they want.

Very few wealthy are willing to give up what they have and then do charity work in the remainder of their lifetimes (like Bill Gates has decided to do).

3. Relevance of Keynesian economics more so his statement that Extreme Capitalism and Extreme Socialism in the long run will both be dead.

Anything in extreme leads to corruption and fanaticism eg extreme power, extreme religion, extreme greed etc. One needs to be moderate as anything in excess is poison. The current Wall Street meltdown is an example of extreme greed and so is the excessive executive compensation without regard to long term vision and performance to be demanded in return. Similarly fall of dicatators and other autocrats throughout history Hitler included are examples of extremes.

4. Why Progressive Taxes are relevant and do not tantamount to redistribution of wealth and income as most extreme conservatives would have us believe :

Your propensity (ability) to save is directly proportional to your income. The more you make the more you will have left over to save, once your needs, wants and luxuries are met. What this means really is you need a basic amount of money to meet your most basic needs of food, clothing, shelter and depending whether you are part of an advanced citizenship like the USA then transportation is also a basic need. No matter who you are and how much you make this remains a constant as everyone needs to have these basic needs just to survive. Accordingly comes the concept of the poverty line and the median income.

As to what is the amount one needs to make to ensure that the basic needs of that family are met, is based on the society they are a part of. eg a family in the USA will need to have more income to meet the basic needs compared to say a family in Bangladesh or Pakistan as the cost of living and standard of living will differ from society to society and country to country.

Therefore, until you have met your basic needs you cannot even think of saving let alone meeting your wants and your luxuries. (Televisions are a luxury for some in this world while in the USA a family may have Five in just one household).

Therefore, if one has to compete and come up in life to live their American Dream, there has to be hope and the possibility of saving. $100/- to a person making $1000/- per month is much more valuable compared to $ 100/- to a person making $100,000/- per month.

Further 10% of one's income is the same way eg 10% of a person making 40,000/- is more valuable to that person compared to 10% of say $1000,000/- even though is it $100,000/- vs $4000/- . The person making $40,000/- has probably not yet met his wants and luxuries while the person making $1,000,000/- has probably not only met his needs, wants, luxuries but is possibly having toys and still has money left over to save, invest and anything else he may want. Of course he will feel it is not enough (exception to the theory of diminishing marginal utility) as at this stage he is now comparing himself to a person making a Billion dollars.

Accordingly there is nothing wrong to expect a person making significantly more than the average person to pay significantly more as they do have spare change and some more. (I will touch upon this again later).

In fact there is nothing wrong in saying that upto the poverty level income you do not pay any taxes at all. For let me say this, if we do not take care of the weak and poor there will be rampant crime and other social ills and we will as a society pay for this one way or another. That's the reason why we have Medicare, social security, unemployment benefits etc. These are social safety nets not a way of propagating welfare. But we need to have a pathway from welfare to work (Bill Clinton was amongst the few that really made this a reality).

I am not a proponent of welfare, but life happens and people do fall on hard times. The safety nets available in a society are depend upon the society you are in. eg in third world or developing nations there will barely be any safety nets eg they do not have unemployment benefits etc like one has in developed nations. Same goes for Health care, and the list goes on. We need to temper the safety nets and link them to a pathway to a productive life. That's one of the roles of good government.

It was ironic that John McCain mentioned during the first Presedential Debate that volunteerism was offered more from the middle class compared to the wealthy as the middle class tends to give more than the rich. Greed running rampant? Why do the likes of Paris Hilton, Britney etc not spend more time doing community work instead of clubbing? Who am I to judge, its their life and this is a democracy. However Princess Diana alone did a lot more than most in Hollywood combined. So did Mother Theresa. Now I am not suggesting that they need to change their lifestyle nor dictating how they live, but come on, there comes a time when one should aspire to be role models and give back to society. After all giving is the cornerstone of all philosophies ....

5. Why the Theory / Philosophy of Trickle Down Economics (Reaganomics) needs to be modernised in the new Global Economy - (Trickle out = "Outsourcing")

This theory propounded by Reagan and religiously adopted by the conservatives and expounded in the face of all Americans (almost abused and bastardized in arguments) basically states that if you give Tax Breaks to the rich and powerful then they will use this money to create jobs which will fuel growth and abundance for the rest.

Two problems with this:

1. this propogates the haves and have nots and the rich keep getting all the breaks. One assumes they will create jobs and not use it for their luxuries and toys (spa treatments in luxury resorts like AIG executives did after getting a bailout from the Federal Government). After all with all the tax breaks to the oil companies most of it is spent on dividends to the stockholders, fat compensation to their executives, lavish lifestyles (including having sex with government officials as recently reported) and only a fraction of this goes actually towards research and development, alternative fuel technologies (is it really in their best interest to do so??), or even truly modernizing their own infrastructure (we still have the same issues year after year with shortages during hurricane season) etc.

CNN Article on Easy Money

The more they have the more they want and only a fraction trickles down if at all. Now please do not get me wrong, there are a lot of great companies and corporations that have acted responsibly while making profits and do a lot for the socities they serve. That's the spirit of true capitalism.

2. In today's Global economy the money does NOT TRICKLE DOWN to the not so rich and the general population but TRICKLES OUT, with all the Outsourcing occuring to countries like China, India etc. This once again leads to super profits for the rich leaving the poor average American broke. The downfall of our manufacturing and industrial base is an outstanding example of outsourcing in all its glory. I would rather these companies negotiate a lower pay right here within the USA and keep the jobs and related techonolgies within our shores instead of shipping them willy nilly overseas.

Would a new graduate rather work for $10/- per hour at McDonald's or would one be ok to make $12/- per hour in a start up job with a technology company? These massive corporations need to work out sensible tax breaks with the local and federal governments to be innovative in cost reduction keep the national interest in mind first. Yes they should negotiate better contracts with the Unions instead of being afraid of them and using Outsourcing as a threat.

Over the years by outsourcing we have made other countries economically strong and if some temperance in not brought to play we Americans could possibly regret it at some point in the future.

We need a strong middle class for the rich to make even more money else who will they make money off of?

5. Why social responsibility does not amount to socialism

It was the rampant abuse of power without regard to society that has brought the environmentalists, gun-control etc groups into existence. It becomes our responsibility as good citizens to give back and take care of those from whom we take. That after all is the universal law of balance and harmony. A touch of eastern philosophy adoption in our way of life will go a long way to be grateful for what we have and in being humbled for all the abundance we enjoy.

6. Relevance of the "Free Markets" and formation of society and civilization (society formed to protect the weak and to overcome the law of the jungle where the mightiest wins)

The whole notion of forming a society and the springing of civilization stems from protecting the weak and not the mightiest winning. Free Markets without any regard to regulation and control is tantamount to the laws of the jungle where the mightiest win. I do not believe true capitalism is meant to be that. Capitalism thrives and brings the best in us when we temper it with justice and fair play with true rewards for innovation and entrepreunership.

That's why we have Anti-trust and Monopoly laws. While many conservaties in the current
financial meltdown continue to believe that the free markets should be allowed to take its course and there should be no bailout or workout from the government, let me say this to them : The blood bath that will follow for the middleclass and others who are not rich will be so devastating that our society will pay more than its worth. Crime will be rampant and we will have a social mess on our hands. Of course the mightiest will remain steadfast as they have abundance (remember propensity to save as they have so much left over even after splurging on toys etc).

We cannot allow such an economic and social bloodbath in America as we are a just nation that does good for the world that we would not do so for our own. We need to take care of the people within our own country before we consider helping other nations.

While most of us have had our 401(k)'s and other retirement assets evaporate into oblivion the rich do not even need retirement accounts as they have enough wealth to last generations.

Christmas Shopping for the affluent

That's why the rich do not give a hoot to tax cuts for the middle class but when it comes to taxing wealth they are up in arms because that's the only time it hurts them. But it's ok for it to hurt the average Joe. I do not mind paying my fair share of taxes if I make more.

While I am not an economist, I did study economics as one of my majors. I also do believe in Free Markets with appropriate oversight and Government intervention, Entrepruenership, Democracy tempered with personal accountability and social responsibility.

Role of Govenment and the Legislature: Govenment needs to help bring about Agricultural independance, Industrial Independance, Techonogical Independance, Energy Independance amongst others and becoming a net exporter as a nation.

We need a 1, 3, 5, & 10 year plan that our congressmen work on without letting partisan politics and lobbying dollars divert their attention. We need sensible trade policies that have a level playing field for the American interests and not one stacked up against us to start out.

How do we address the meltdown in the Financial markets and Wall Street?

Keynesisan Theory of Economics is still relevant a must read as relevant today as during the Great Depression during the 1930's. Please read this to fully comprehend what I am going to explain.

While I am not saying I have all the right answers, but then most of our leaders are equally clueless about what's occuring in the markets and the economy. They say one thing one day and contradict themselves a few days later. At least that is the public posture they have for us.

The $700 billion or so propouded to be used to increase money supply in the economy and breathe fresh life in the credit availability needs to be used sensibly (hopefully will not be used to buy speculative mortage securities as we had planned).

McCain now wants to have the bad mortgages refinanced at current market values and have the government buy the difference. I say why, that's the loss the lenders and banks need to eat and then the banks that will not make it should be rescued as a last resort if it is in the interest of the economy and if other banks will not buy out first. The ones that will be able to eat the losses should and make more sensible lending choices in the future. Believe me it was not just the consumers who were making poor choices, but money and loans were shoved in people's faces enticing them with all kinds of programs. The builders, mortgage brokers, lenders et all have had a field day.

I hope the government and the next president (be it John McCain or Barack Obama) will bring some sense to the markets and both the parties will keep their ideological differences aside and be moderate and work as one to help the nation come out of this economic mess.

I hope they remember "Cash is King" we need a surplus in our budget. We started with one and have a record defecit. We need to work to bring the surplus back.

Once again I do not mean to offend anyone's ideology but without differences there will be no positive progress and great ideas will not bear fruit and propel one into action.

Back from vacation - Monday Sept 29, 2008

Folks,
While I am back from vacation, I am currently focused on writing an article on the current state of the economic affairs and need some extra time to do justice to the article.
I should hopefully be done in the next couple of days.

In the meantime I have recorded a video on using Fibonacci, SMA, Support and Resistance and Candlestick Patterns for Forex Trading.

Financial meltdown and basic economics

How did we get into this mess (without the technical financial details of mortage securities instruments).
1. The price of oil went through the roof
2. This alone led to inflationary pressures. As we started going to alternative fuels (ethanol etc) it resulted in higher commodity prices and resulting increase in food prices resulting in inflationary signs. But the underlying cause was price of oil, let's not forget.
3. This reduced the purchasing power of the people already on the threos of a depressed economy due to jobs cuts in the manufacturing sector and outsourcing of jobs overseas. (Nothing wrong in outsourcing but off-shoring needs to be done carefully with the broader economic impact in mind).
4.This reduced the purchasing power of people as they did not have enough money to meet their basic necessities.
5. The Feds raise interest rates on numerous times to keep inflation in check further reducing money supply and increasing the hardship on the middle class.
6. As adjustable rate mortgages readjust to higher rates, folks already strapped for cash suffer further leading to increased foreclosures. To compound it home values fall as foreclosures and job losses increase. This results in a domino effect on sub-prime mortgages and sub-prime lending as people who do not have equity in their homes start to walk away from their obligations (remember the willy nilly lending upto 125% of the home values by the greedy lenders charging high fees and pre-payment penalties).
7. The effect then spills over to the prime market as home values continue to decline and oil continues to shoot thru the roof. The big three automotive start teetering resulting in even greater job losses and resulting decline in home values.
8. Continued decline in home values and increasing foreclosures finally take their toll on the mortgage securities and the financial meltdown begins.
9. The USD continues to be strong inspite of weak economic data as oil now continues to fall.

Now they want to cut rates, increase money supply and all the other kinds of things that economics 101 talks about, still however not keeping the basics in mind.

Broadly I think the basics of economics and how they affect the so called "Free Market" and its impact on currencies, stocks and the economy in general needs to be better explained than what most commentators have done on CNN, MSNBC, Fox etc. Each has its own spin based on party affiliation and political leanings.

I am neither a Republican nor a Democrat and neither extreme left nor extra conservative. I am a moderate.

Let's lay some ground work first as my intent is not to offend anyone or their beliefs and hence will back my statements with examples as to why I hold these beliefs. I am open to correction if you can back your opinions with correct factual empirically verifiable data.

The basics need to be explained in terms of the following:

1. Theory of Diminishing Marginal Utility

According to this basic economic theory the satisfaction or utility you derive by consumption of first unit of any item (eg donut if you are hungry) is greater than subsequent units of consumption. When your needs are met and you are satiated (satisfied) then you do not derive any satisfaction from consumption of additional units. Accordingly the marginal utility or satisfaction you derive from consuming every additional unit is less than the satisfaction you derived from consuming the prior unit. What this really means eg is when you are lets say hungry the satisfaction you derive will progressively decrease with each additional morsel of food you consume as your hunger will be lessen.

2. Why money, wealth and other collectibles are an exeception to this theory (inspite of what anyone may say to the contrary).

This is because of the basic greed, ego and other traits of humans. eg pride .... it is difficult to remain humble when you are successful and the more recognition bestowed the more an indivdual may seek feeding their need for pride and ego. Lots of great people in history and current times are full of these who have risen to the occasion and then have had great falls .... from politicians to actors to ordinary people in your own communities.

Similarly, Greed is again one of the exceptions for many humans (not all) as the more they have the more they want. Very few wealthy are willing to give up what they have and then do charity work in the remainder of their lifetimes (like Bill Gates has decided to do).

3. Relevance of Keynesian economics more so his statement that Extreme Capitalism and Extreme Socialism in the long run will both be dead.

Anything in extreme leads to corruption and fanaticism eg extreme power, extreme religion, extreme greed etc. One needs to be moderate as anything in excess is poison. The current Wall Street meltdown is an example of extreme greed and so is the excessive executive compensation without regard to long term vision and performance to be demanded in return. Similarly fall of dicatators and other autocrats throughout history Hitler included are examples of extremes.

4. Why Progressive Taxes are relevant and do not tantamount to redistribution of wealth and income as most extreme conservatives would have us believe

Your propensity (ability) to save is directly proportional to your income. The more you make the more you will have left over to save, once your needs, wants and luxuries are met. What this means really is you need a basic amount of money to meet your most basic needs of food, clothing, shelter and depending whether you are part of an advanced citizenship like the USA then transportation is also a basic need. No matter who you are and how much you make this remains a constant as everyone needs to have these basic needs just to survive. Accordingly comes the concept of the poverty line and the median income.

As to what is the amount one needs to make to ensure that the basic needs of that family are met, is based on the society they are a part of. eg a family in the USA will need to have more income to meet the basic needs compared to say a family in Bangladesh or Pakistan as the cost of living and standard of living will differ from society to society and country to country.

Therefore, until you have met your basic needs you cannot even think of saving let alone meeting your wants and your luxuries. (Televisions are a luxury for some in this world while in the USA a family may have Five in just one household).

Therefore, if one has to compete and come up in life to live their American Dream, there has to be hope and the possibility of saving. $100/- to a person making $1000/- per month is much more valuable compared to $ 100/- to a person making $100,000/- per month.

Further 10% of one's income is the same way eg 10% of a person making 40,000/- is more valuable to that person compared to 10% of say $1000,000/- even though is it $100,000/- vs $4000/- . The person making $40,000/- has probably not yet met his wants and luxuries while the person making $1,000,000/- has probably not only met his needs, wants, luxuries but is possibly having toys and still has money left over to save, invest and anything else he may want. Of course he will feel it is not enough (exception to the theory of diminishing marginal utility) as at this stage he is now comparing himself to a person making a Billion dollars.

Accordingly there is nothing wrong to expect a person making significantly more than the average person to pay significantly more as they do have spare change and some more. (I will touch upon this again later). In fact there is nothing wrong in saying that upto the poverty level income you do not pay any taxes at all. For let me say this, if we do not take care of the weak and poor there will be rampant crime and other social ills and we will as a society pay for this one way or another. That's the reason why we have Medicare, social security, unemployment benefits etc. These are social safety nets not a way of propagating welfare. But we need to have a pathway from welfare to work (Bill Clinton was amongst the few that really made this a reality). I am not a proponent of welfare, but life happens and people do fall on hard times. The safety nets available in a society are depend upon the society you are in. eg in third world or developing nations there will barely be any safety nets eg they do not have unemployment benefits etc like one has in developed nations. Same goes for Health care, and the list goes on. We need to temper the safety nets and link them to a pathway to a productive life. That's one of the roles of good government.

It was ironic that John McCain mentioned during the first Presedential Debate that volunteerism was more from the middle class compared to the wealthy as the middle class tends to give more than the rich. Greed running rampant? Why do the likes of Paris Hilton, Britney etc not spend more time doing community work instead of clubbing? Who am I to judge, its their life and this is a democracy. However Princess Diana alone did a lot more than most in Hollywood combined. So did Mother Theresa. Now I am not suggesting that they need to change their lifestyle nor dictating how they live, but come on, there comes a time when one should aspire to be role models and give back to society. After all giving is the cornerstone of all philosophies ....

5. Why the Theory / Philosophy of Trickle Down Economics (Reaganomics) needs to be modernised in the new Global Economy - (Trickle out = "Outsourcing")

This theory propounded by Reagan and religiously adopted by the conservatives and expounded in the face of all Americans (almost abused and bastardized in arguments) basically states that if you give Tax Breaks to the rich and powerful then they will use this money to create jobs which will fuel growth and abundance for the rest.

Two problems with this:

1. this propogates the haves and have nots and the rich keep getting all the breaks. One assumes they will create jobs and not use it for their luxuries and toys (spa treatments in luxury resorts like AIG executives did after getting a bailout from the Federal Government). After all with all the tax breaks to the oil companies most of it is spent on dividends to the stockholders, fat compensation to their executives, lavish lifestyles (including having sex with government officials as recently reported) and only a fraction of this goes actually towards research and development, alternative fuel technologies (is it really in their best interest to do so??), or even truly modernizing their own infrastructure (we still have the same issues year after year with shortages during hurricane season) etc.

CNN Article on Easy Money

The more they have the more they want and only a fraction trickles down if at all. Now please do not get me wrong, there are a lot of great companies and corporations that have acted responsibly while making profits and do a lot for the socities they serve. That's the spirit of true capitalism.

2. In today's Global economy the money does NOT TRICKLE DOWN to the not so rich and the general population but TRICKLES OUT, with all the Outsourcing occuring to countries like China, India etc. This once again leads to super profits for the rich leaving the poor average American broke. The downfall of our manufacturing and industrial base is an outstanding example of outsourcing in all its glory. I would rather these companies negotiate a lower pay right here within the USA and keep the jobs and related techonolgies within our shores instead of shipping them willy nilly overseas. Would a new graduate rather work for $10/- per hour at McDonald's or would one be ok to make $12/- per hour in a start up job with a technology company? These massive corporations need to work out sensible tax breaks with the local and federal governments to be innovative in cost reduction keep the national interest in mind first. Yes they should negotiate better contracts with the Unions instead of being afraid of them and using Outsourcing as a threat.

Over the years by outsourcing we have made other countries economically strong and if some temperance in not brought to play we Americans could possibly regret it at some point in the future.

We need a strong middle class for the rich to make even more money else who will they make money off of?

5. Why social responsibility does not amount to socialism

It was the rampant abuse of power without regard to society that has brought the environmentalists, gun-control etc groups into existence. It becomes our responsibility as good citizens to give back and take care of those from whom we take. That after all is the universal law of balance and harmony. A touch of eastern philosophy adoption in our way of life will go a long way to be grateful for what we have and in being humbled for all the abundance we enjoy.

6. Relevance of the "Free Markets" and formation of society and civilization (society formed to protect the weak and to overcome the law of the jungle where the mightiest wins)

The whole notion of forming a society and the springing of civilization stems from protecting the weak and not the mightiest winning. Free Markets without any regard to regulation and control is tantamount to the laws of the jungle where the mightiest win. I do not believe true capitalism is meant to be that. Capitalism thrives and brings the best in us when we temper it with justice and fair play with true rewards for innovation and entrepreunership. That's why we have Anti-trust and Monopoly laws. While many conservaties in the current financial meltdown continue to believe that the free markets should be allowed to take its course and there should be no bailout or workout from the government, let me say this to them : The blood bath that will follow for the middleclass and others who are not rich will be so devastating that our society will pay more than its worth. Crime will be rampant and we will have a social mess on our hands. Of course the mightiest will remain steadfast as they have abundance (remember propensity to save as they have so much left over even after splurging on toys etc). We cannot allow such an economic and social bloodbath in America as we are a just nation that does good for the world that we would not do so for our own. We need to take care of the people within our own country before we consider helping other nations.

While most of us have had our 401(k)'s and other retirement assets evaporate into oblivion the rich do not even need retirement accounts as they have enough wealth to last generations.

Christmas Shopping for the affluent

That's why the rich do not give a hoot to tax cuts for the middle class but when it comes to taxing wealth they are up in arms because that's the only time it hurts them. But it's ok for it to hurt the average Joe. I do not mind paying my fair share of taxes if I make more.

While I am not an economist, I did study economics as one of my majors. I also do believe in Free Markets with appropriate oversight and Government intervention, Entrepruenership, Democracy tempered with personal accountability and social responsibility.

Role of Govenment and the Legislature:

Govenment needs to help bring about Agricultural independance, Industrial Independance, Energy Independance amongst others and becoming a net exporter as a nation. We need a 1, 3, 5, & 10 year plan that our congressmen work on without letting partisan politics and lobbying dollars divert their attention.

We need sensible trade policies that have a level playing field for the American interests and not one stacked up against us to start out.

How do we address the meltdown in the Financial markets and Wall Street?

Keynesisan Theory of Economics is still relevant a must read as relevant today as during the Great Depression during the 1930's. Please read this to fully comprehend what I am going to explain.

While I am not saying I have all the right answers, but then most of our leaders are equally clueless about what's occuring in the markets and the economy. They say one thing one day and contradict themselves a few days later. At least that is the public posture they have for us.

The $700 billion or so propouded to be used to increase money supply in the economy and breathe fresh life in the credit availability needs to be used sensibly (hopefully will not be used to buy speculative mortage securities as we had planned).

McCain now wants to have the bad mortgages refinanced at current market values and have the government buy the difference. I say why, that's the loss the lenders and banks need to eat and then the banks that will not make it should be rescued. The ones that will be able to eat the losses should and make more sensible lending choices in the future. Believe me it was not just the consumers who were making poor choices, but money and loans were shoved in people's faces enticing them with all kinds of programs. The builders, mortgage brokers, lenders et all have had a field day.

I hope the government and the next president (be it John McCain or Barack Obama) will bring some sense to the markets and both the parties will keep their ideological differences aside and be moderate and work as one to help the nation come out of this economic mess.

I hope they remember "Cash is King" we need a surplus in our budget. We started with one and have a record defecit. We need to work to bring the surplus back.

Once again I do not mean to offend anyone's ideology but without differences there will be no positive progress and great ideas will not bear fruit and propel one into action.

Trades for the Week beginning Sunday Sept 14 2008

Hello folks,
This week I am on vacation and will probably not be updating my blog (unless I get bored and decide to trade).
However this is my take :
The economy is in dire shape as I have maintained all along. This is what Alan Greenspan had to say:
http://money.cnn.com/2008/09/14/news/economy/greenspan/index.htm?cnn=yes

Wall Street is in jitters thanks to Lehman Brothers:
http://money.cnn.com/2008/09/14/news/companies/lehman_brothers/index.htm?cnn=yes

I continue to maintain we need a full one point reduction in long term mortgage rates to help stablilze the housing market and the economy.

The Hurricane Ike has caused significant damage and gas prices have shot thru the roof regardless of supply and demand in many areas of the USA. Midwest that does not rely on oil from the Gulf has still seen unprecedented oil prices above the $4.00 per gallon range inspite of cost per barrel has dropped below $100/-.
If this is not speculation and price gouging do not know what would be !!

I would be bearish on the USD this week if you do decide to place trades.

Good luck trading and hope you are profitable.

Trades for Tonight - Sept 9 2008 9:30 PM EST

Click on the image below to see the trades for tonight and then hit the browser back button when done:

Good Luck trading....

(sorry I have been busy this week to write details on my posts, due to school week starting )

Trades for Tonight - Sept 8 2008 10:00 PM EST

Click on image below to see the orders for tonight and then hit the browser back button when done.
Today we have mulitple lots for the AUD/USD and USD/CHF. One of the lots has no limit at the moment.

The take over of the Freddie's by the US Govt. has now resulted in lower long term mortgage rates (I have favored lowering long term mortgage rates by a full one point) which should act as a slight stimulus. However the basic fundamentals of the US economy still remain weak.
On the other hand a weak USD results in a higher Oil price which leads to a global recession that the world can ill afford.
There is talk of the OPEC possibly cutting production to increase prices and also the winter is coming up. What effect if at all this will have remains to be seen given the unsustainable oil prices already.
The Hurricane Ilk seems to be under control and hopefully we will not have any major disruptions. Given all this in the short term we should see the USD rising higher. There is still a lot of room to grow back for the USD.
I will create a short video later during the week explaining my analysis.

Good luck trading and God Speed....

Trades for Tonight - Sunday Sept 7 2008 - Video included

I have included a video showing chart analysis today .... hopefully you enjoy it.
Let me know if this format is better and more informative in which case I can definitely try to put these out more frequently.

No trades for tonight due to reasons stated in the video.

Please post your feedback ....

Trades and Results as of Sept 4 2008

Click on image below and then hit the browser back button when done:

As you can see this month so far I am up approx 280 pips. My AUD/USD and NZD/USD trades closed for a loss and then the market turned and hit my original targets. Thanks to news annoucements the prices fluctuated wildly.
Of course GBP/USD and EUR/USD closed today for the full profits.

No trades for tonight as tomorrow is the Non-Farm Payroll announcement and the market will likely fluctuate unpredictably.

So good luck till Sunday night when I will post new trades.

Currency Trades for Tonight - Tues Sept 2 2008 10:00 pm EST

You can view the orders for tonight by clicking the image below and then hit the browser back button when done:

If your orders have not executed by morning please cancel them. Further if you are in the positive then feel free to close them if you so desire.

I will comment on the market movement due to oil (continuation to my earlier post on my feelings towards the reasons why the oil prices are still a product of speculative activities rather than any economic fundamentals) till some time later during the week.

Sorry about not posting last night and posting a bit late tonight. Have been busy with the back to school week for the kids....

I have added free forex training videos and live news feed at the top....please provide me feedback on whether you like them or want me to discontinue them.

Good Luck Trading and God Speed....please enjoy your trading activties...

Results, Charts and Analysis - Sept 1 2008 - 10:00 AM EST

I totally forgot today was Monday and that yesterday was Sunday. Given the labor day weekend, I did not place additional trades last night (did not realize the markets were open as I thought it was Saturday). Anyhow, from this month there will be a slight change in direction. I may start trading more than 1 lot at a time.
To summarize the last 2 weeks we are about 70 pips in the negative.
The USD/CHF head and shoulders pattern did not complete the full formation and reversed stopping me out for a loss of 120 pips.
However the GBP / USD held true and in fact I had moved my limit to capture 200 pips which I have (see screenshots below). My intent was to continue to move my limit and go for higher profits, but since I did not check my account yesterday, did not get a chance to move the limits. My trade got closed for a 200 pip profit.

Head and shoulders did not complete and hold true. This will happen at times and that's just how trading goes. You take your losses and enjoy your profits. One does not have a crystal ball as to how the markets will go.

The GBP / USD made stellar returns for me. I wanted to add additional lots but the weekend was not a good opportunity and the price has already moved. However tonight I shall place additional trades

Will post my trades tonight. Once again sorry about my confusion over the days ... I was busy enjoying the weekend, but was good to get back to a closed profitable trade of 200 pips !!

Part 2 for tonight's analysis - see previous post for trades and analysis as well

I posted this after I was asked by one of the readers a few questions. So let me clarify some more:

USD/CHF Analysis below:

I have added the profit target and depicted that on the chart below for the head and shoulders pattern. Now if and when will this target be reached? We are looking at the hourly charts and each bar represents one hour on the time scale. It could be a few days or even a week before the target is reached or could be earlier. If the price hits my stop which is placed just above the second shoulder most likely the pattern will not hold true. Most novices make the mistake of putting the stops too close and are afraid to pay the rollover interest. I ask of them would you rather spend a few pips and make over a hundred pips or would you rather focus on a few pips? If my target is to make 120 pips, I have no issues in paying 20 pips in rollover interest.

GBP/USD analysis below:

Once again here the price may hit the upper channel before proceeding down and hitting the profit target. It may take a few days or even a week (this is once again an hourly chart). Also remember the prices do not move straight up or down but they do zig zag with retracements. The important thing is we are trading in the direction of the trend. There is nothing to suggest the trend has broken and a reversal is in effect and so the trade should hold good so far. Once again as you can see the lower lows and lower highs and my stop is placed just above the previous high. So if a new high gets created and my trade gets stopped out with a loss it may be an early indicator of either a reversal or pause in the trend. Further analysis at that time would be needed to determine that. Once again most novice traders make the mistake of putting their stops too close and get stopped out. My trades are currently in the negative but well within the pattern which continues to hold true and hence there is no need for me to panic to close out my trade and make an emotional decision. I would rather make an informed judgement call. Once a new low is formed I could potentially move my limit further and aim for higher profits and also move my stop up to reduce my loss exposure. But then these are additional and advanced techniques which I will cover in the future if the pattern holds true. I could also trade mulitple lots and make more. There was a similar situation on the NZD/USD earlier (see my earlier posts on the NZD/USD)

Hope this helps and feel free as usual to ask any questions....
Happy to clarify and help out and share my knowledge....
Good Luck Trading...

Charts, Analysis and Trades for Tonight - Thursday Aug 28, 2008 - 9:40 PM EST

Click on image below to see the new orders tonight and the status of yesterday's trades and account status (then hit browser back button when done):

I did not close my trade on USD/CAD even though it did not execute and I am keeping it in place.

The GBP/USD is currently trading within a downward channel on the hourly charts, should explain why I have placed my trade:

The USD/CHF trade has not completed the Head and Shoulders pattern as yet.

The market rebounded due to good GDP results and the threat from the storm Gustav eased. Currently of course "experts" feel that the state of the rigs in the Gulf are such that they can withstand even a Category Five hurricane. (Personally I think this is just a lot of "bull" and the reality is the price of oil has been pushed so high the market really cannot bear higher prices unless a true disruption took place. The speculators are hesitant to push prices up as this is leading to a global recession which could hurt them in the long run).
Interesting article on CNN.com http://money.cnn.com/2008/08/28/news/economy/oil_gulf_infrastructure/index.htm?cnn=yes
Good Luck Trading and feel free to post questions or participate in discussions.....

New Trades for Tonight - Wed Aug 28 2008

Click on image below to see the new trades for tonight (then hit the browser back button when done):

Classic Head and Shoulders Formation in progress for the USD/CHF. Entry point at neckline. Inspite of erratic market behavior the candlestick formations should stand the test of time and hence my decision to place the trade:

Given the holidays coming up (Labor Day) there is expected to be low trading volumes so if your trades are in the positive please feel free to close them.

Feel free to post questions on www.myforexdna.collectivex.com under discussions.

Good Luck .

Trades for Tonight Sunday August 24, 2008 6:00 PM EST

I did not close my trades on Thursday or Friday (did not get a chance as I was busy). Hence due to oil price fluctuations USD was strong and reversed the prior day's gains. Hence I am net about 20 pips in the negative.

Let me say this:
The markets are behaving irrationally.
Weak economic data usually results in weak currency.
Further with the Feds stating that they do not anticipate raising interest rates again should have resulted in a weaker USD. But what happens....wow, has a negative effect on oil, prices of oil drops and the USD shoots up.

My personal opinion:
Current prices of oil are still due to speculative activity. This is having a direct impact on the USD as this is leading to a global recession as the global economy is now connected to the US economy in more ways than they would like.
Most mortgage backed securities are held by foreign interests. Further foreign interests own a lot of US based assets including corporations etc.
Weak dollar allows them to buy more but the returns on current holdings is soft.
Exporters to the US are suffering as US is a net importer due to a soft USD.
They all want a strong USD, but the Oil speculators have the market captured.
Hence the volatility in the near term.
With the onset of winter sure prices will shoot up a bit but then will fall again if it results in a weak dollar. Interesting times ahead.
Given the situation I have no trades for tonight, but will have signals again tomorrow.

Let me know your thoughts.....

150 + pips profit - Trades for Tonight - Thursday Aug 21 2008 10:40 PM EST

Made a typo last night when I placed the order for the USD/JPY and hence it closed for a 1/100 of a pip loss. But for the typo I would have made 120 pips on the USD/JPY trade alone. In any case have made over 150 pips due to the fall in the USD.

Click on the image below to see the status of my account and the new orders for tonight:




If the order has not executed by tomorrow morning 8:00 am please cancel the trade. If it is in the positive feel free to close at any price you wish.
Please do not leave the trade open over the weekend.
Feel free to visit www.myforexdna.collectivex.com to participate in discussion boards.
Good Luck trading

Trades for Tonight - Wed August 20, 2008 - 8:30 PM EST

The USD/CAD was executed and boy what a swing the market took today. I cancelled the other orders as they did not execute.

The NZD/USD is still open and in the plus since Sunday. We are approx net 35 pips in the red.

Click on the image below to see the orders for today and the position of the account: (hit the browser back button when done)

If the trades have not executed by morning please cancel the orders and else if they are in the positive feel free to close the trade or let it ride as you desire.

Please also visit www.myforexdna.collectivex.com to participate in discussion board.

Good luck.

Trades for Tonight - Tues August 19 2008 9:30 PM EST

I am down approx 30 pips for this month (since the new practise account). My USD/CAD ended in a 90 pip loss but the NZD/USD is up approx 60 pips.

Click on image below and then hit the browser back button when done:

New trades for tonigt are below (click on image below to see details and then hit browser back button when done)

If in the morning you are in the positive and feel like closing your trade you should.

If the orders have not executed by 8:00 am in the morning please cancel them.

Please also visit www.myforexdna.collectivex.com to participate in discussions

New Trades for Tonight - Sunday Aug 17 2008 at 7:10 PM EST

See trades below (Click on image below to see trades and then hit the browser back button when done):

Good luck with the trades.

1100 pips on a single trade

As you can see from my trade placed on July 22 2008, currently I am up 1100 + pips in the profit. The question really is how can one do this in a real account?

The classic evening star formation on the EUR/USD charts at resistance or peak made it possible for me to place my trade around July 22 2008 and I sold EUR/USD at 1.5800. Price hesitations around 1.4900 did make me a bit nervous about my letting the trade remain open but then came the realization that I need to test this out.

It is easy to make this happen in a practise account but in a real account one will be bogged down with emotions and be tempted to cash in the trade much sooner.

Hence I have always maintained

1. Keep emotions out of trading
2. Assume you have already lost the amount of pips you originally had placed the stop at
3. You can move your stop to the open price and let it ride as a free trade
4. trade multiple lots and close lots at varying points or close one and let the other ride out after having moved the stop to the open price hence guaranteeing you no losses.

Even then it is easier said than done as when has real money at stake emotions will take over.

Would like to know your experiences and lets share ideas .... feel free to post here or at

www.myforexdna.collectivex.com

Trades for tonight - Thursday Aug 14 2008 9:45 PM EST

No trades for tonight. My trade for USD/CHF ended in a loss of 100 pips. Hence we are still up net 30 pips for the month.
The USD continues to be strong inspite of bad economic data primarily as higher oil prices are hurting other economies and hence a stronger dollar helps all exporting countries.
I still maintain a long term bearish outlook on the dollar unless there are economic indicators to the contrary which there are none at the moment.
My current practise account will expire this weekend and hence will start trading with a new account next week.

Trades for Tonight - August 13 2008 - 9:00 PM EST : 130 pips profit

Click on the image below and then hit the browser back button when done:

No new trades tonight. Made 130 pips on the GBP/USD trade yesterday. Wow the GBP really moved today.

Further to my comments on Sunday night (see my blog) the following article on CNN confirms what I have been stating as well regarding the weakness of the USD.

http://money.cnn.com/2008/08/13/news/buck_stops.fortune/index.htm?postversion=2008081310

My trade on the USD/CHF is still open and I will let it continue to ride another day.

Feel free to visit www.myforexdna.collectivex.com to participate in discussions.

Trading Signals for Tonight - Tues August 12 2008 - 9:15 PM EST

Click on the image below to see the orders for the day and then hit the browser back button when done:



The above are the orders for tonight.
If the orders have not executed by 8:00 am tomorrow morning please cancel them. Further if they are in the positive and you want to cash in on the trades feel free to do so.

Please visit www.myforexdna.collectivex.com to add to discussion posts.

Status as of Aug 10 2008

We have incurred a net loss of approx 30 pips bteween July and August to date 2008. We made approx 325 pips for June 2008 leaving us with approx 295 pips since June 2008.

Let me say this, I made this mistake most traders make. I got emotionally attached to my trade thinking the USD would weaken. I took a few days off and am back.

All fundamentals still favor a weak dollar. My read of the current situation is this:

The weak US economy is hurting the globe as US is the largest net importer. Further the slight increase in oil inventories have led to market correction for Oil prices which is the excuse the markets have been looking for to strengthen the dollar. The feds announced no new rate increases and yet the dollar became strong against the Swiss Franc !! that too inspite of weak economic data.

The speculators on the commodities market have run their course and hence the oil bubble is bust for the time being.

Will the oil weaken further resulting in a stronger dollar purely due to oil prices? Where will the oil prices settle? I do not know but I do think there will be some back and forth before the prices of oil settle. Whether above $100 or below remains to be seen.

The dollar has gained too much in the last two weeks and anytime we have seen such sudden movement there is a correction and I think this week will tell us if this will happen or not.

I am staying away from trading tonight as it is not clear for the moment where the market will head.

As you can see below from my statement in another account I am 840+ pips on the EUR/USD alone (testing some long term trades).

I will post more trades this week however.

Trades for tonight - Monday Aug 4 2008 at 7:45 PM EST

My trades for the USD/JPY, USD/CHF are still open. The markets did swing today but still within range. The USD/CAD has not executed as the prices have moved up instead of down.
I was a bit aggresive in placing the trades in anticipation of markets moving lower for the USD. Technically speaking I should wait for the confirmation after the doji formation, but since the stochastics were overbought and there were doji's at or near resistance I placed the short trades.
I am going to let the trades ride and still keep the USD/CAD trade pending for one more day.
I do expect certain breakthroughs but this time I will wait for the confirmation signals specially for the EUR/USD, NZD/USD and the AUD/USD.
Will post signals as soon as they are appear.
Will post my account balance tomorrow, we are in the negative so far this month as the trades from end of July are still open and we have not placed any new trades this month so far.

Trade Explanation and Trades for Tonight - July 31 2008

Click on the images below to see the details and then hit the browser back button when done:

The status of my account is shown below and I am leaving my trades open. I have also revised the limit on the USD/CHF (see below). I have shown the rationale for my trades in the charts below.
Overall the US economy has been weak which would have resulted in a weaker dollar but the consequential impact to oil consumption (lower consumption = higher inventory) has sustained the dollar at its current levels. The major FA tomorrow (Non Farm Payroll) will definitely lead to breakouts.
Normally I would have cashed in my trades, but given they are at a loss I am going to leave them open because I am trading in favor of the basic fundamentals and the charts appear to be in my favor as well (I hope I turn out to be correct tomorrow).

Feel free to email me with any questions....

New Trades for Tonight - Wed July 30 2008 at 10:00 PM EST

Today we had a net booked loss of approx 55 pips, with a floating loss of approx 70 pips (USD/JPY is still open). NZD/USD closed at a profit and USD/CHF closed at a loss.

The above are trades for tonight along with my open trade for USD/JPY. I am going to let it ride.

While this month has not been good in the later half, I am going to start posting additional information from next month about the analysis so some of you can get an idea of how I place my trades.

New Trades for Tonight - Tues July 29 2008 10:00 PM EST

Click the image above to see the status of my account including the new trades for tonight. Keep pending trades open and let them ride. The USD/CAD has no limit set as we want to ride this trade for a few days if it goes in the correct direction. I cancelled the GBP/USD as it did not execute.

This has been a poor month so far even though we are slightly up for the month. Very poor compared to my goal of 500 pips.

I am currently working on 3 different systems I am trying in 3 different accounts and hence it has become difficult to keep up and also post details.

I am also trying to hire a web site company to do a website where I can have everything in one website instead of 3 different sites currently.

So bear with me as by the middle of next month I should hopefully have more time on my hands

Trades for Tonight - Monday July 28 2008 - 7:00 PM EST

Click the above image to see the status of my account and the orders for the day. The NZD/USD did not execute and we will continue to place it again.
We are still in the positive for last week and this week and overall 200+ pips for the month.

This week should not have major movements as it is full of Fundamental Announcements and so the movements should primarily be from these unless major world and economic events happen.

If in the morning you are in the profit by over 25 points I would suggest you move your stops to the open price of the trades and let the trades ride out.

Feel free to email me with any questions and also visit my site at www.myforexdna.collectivex.com

Trades for Tonight - Sunday July 27 2008 8:00 PM EST

Last week was a loss leader for me. But we are still 23 points in the plus for last week and overall 223 points for the month. I had to leave on Friday and was forced to close my trades at a loss, but left the USD/CHF trade open and could not close it before the weekend so I am going to let it remain open.

If any of you had not closed their trades Friday you can leave the trades open for tonight.

The following is the trading position for my account:

Please place trades per my account summary below:

Trades for Tonight - Thursday July 24, 2008 - 8:40 PM EST

Click on the image below and then hit the browser back button when done:




The above is the status of my account and the orders for tonight. I am going to let the AUD/USD and the EUR/USD continue to run.

We are in the plus overall today, though the day was a whipping on prices.

The additional trades for tonight are:

USD/CHF:
Sell: 1.0345
Stop: 1.0465
Limit: 1.0225

NZD/USD:
Sell: 0.7380
Stop: 0.7455
Limit: 0.7320

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. The site is still under construction but the main points are now available.If any of your trades do not execute in the morning just cancel them.

I would suggest you close out all your trades Friday evening before close of trading day or during the day.

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trades for Tonight - Wed July 23, 2008 - 7:50 PM EST

Made up significant lost ground today. Made over 135 pips (lost 120 pips on the USD/JPY, made 90 pips on the NZD/USD and 66 pips on the EUR/USD) Closed the EUR/USD for a profit of 66 pips. Hence up for the day by approx USD 128 after the rollover fee. See summary below:

The orders for tonight are as under : (click on image below and then hit the browser back button when done):

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. The site is still under construction but the main points are now available.
If any of your trades do not execute in the morning just cancel them. I would suggest you close out all your trades Friday evening before close of trading day or during the day.

The new trades for tonight are :
EUR/USD:
Sell: 1.56650
Stop: 1.58150
Limit: 1.55150

AUD/USD:
Sell: 0.95900
Stop: 0.96900
Limit: 0.94900

I would have recommended the NZD/USD as well, however my prices have already been breached.

I would highly recommend if your trades have not executed by morning please cancel them.
If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/