MoneyFocus' thread of forex and fun

Ready for Powell!

Opening balance: SGD 3,767

Day 10 required balance: 5,063
Day 10 closing balance: 6,007
Day 11 required balance: 5,214
Day 11 closing balance: 6,348
Day 12 required balance: 5,371
Day 12 closing balance: 6,407
Day 13 required balance: 5,532
Day 13 closing balance: ???

Progress tracker: https://www.fxblue.com/users/928327
PIN: chucks

Today's gains? +0.9%. Had a great start, decided to take a risky position...didn't pan out.

But! Leaving a position, hopefully it TPs before US closes? If it does...it would be an OK day.

Nearly 1:30 am here...

Time for some NBA 2K and then sleep.

XAU/USD Gold

Gold has collapsed today, with the deepest being -1% for the day, but currently recovering a fair bit. Next support is 1300 and we nearly reached there, stopping shy at 1303. It would be interesting to note that the higher support handle 1313 has been lost with no attempt to retrace.

Opening balance: SGD 3,767

Day 10 required balance: 5,063
Day 10 closing balance: 6,007
Day 11 required balance: 5,214
Day 11 closing balance: 6,348
Day 12 required balance: 5,371
Day 12 closing balance: 7,027
Day 13 required balance: 5,532
Day 13 closing balance: ???

Progress tracker: https://www.fxblue.com/users/928327
PIN: chucks

Morning commentary

General

Good morning everyone.

So yesterday was one hell of a ride, I begun with a SGD 6,348 balance, hit 6.7K early in the day only to surrender and ran losses and went down to 6k by the evening, before NY opened. NY session was great though, a few of us in the whatsapp group managed to ride some EJ shorts down and made good money. Managed to end the day at 7K mark, so all is good.

XAU/USD

To be very honest, I wasn't expecting such a huge move, but it seemed that USD lost all of its strength late in the NY session and simply plummeted, leading to EU, GU, AU and NU to have sharp rises. But the sharpest got to be in Gold. Again, to be very honest, I wasn't expecting gold to regain that 1313 so quickly, but it did and we now sit around 1316. As per the whatsapp group chat, I believe we will settle at another price; but of course this is based on techs and before any Theresa May interference.

XXX/JPY

Yen pairs rallies once again have been smashed down. While they do look bearish, they have already been battered down a lot, so I would advise caution if you intend to short.

Euro

Political interference aside, seeing Eur/Usd sits above 1.2250 is a comforting sign for bulls.

GBP

There is very little doubt huge moves in the pound is caused by anticipation of what will Theresa May say. I do not have a crystal ball (unlike a good friend of mine) and as such am unable to predict what she will say. For anyone with GBP positions, I would strongly advise either hedging or paring off the positions for small losses. If you are in profit, remember half a pip gained is better than a pip loss.

I hope I will have a good trading day today. Cheers to all.

Afternoon commentary

We stream into London open without any meaningful move, although xxx/jpy continues to be held down.

Opening balance: SGD 3,767

Day 10 required balance: 5,063
Day 10 closing balance: 6,007
Day 11 required balance: 5,214
Day 11 closing balance: 6,348
Day 12 required balance: 5,371
Day 12 closing balance: 7,027
Day 13 required balance: 5,532
Day 13 closing balance: 7,212

Progress tracker: https://www.fxblue.com/users/928327
PIN: chucks

There's a few problematic positions...but it's Friday....kick back and relax!

https://www.youtube.com/watch?v=SaCheA6Njc4

Just follow your trades. Can le.

Opening balance: SGD 3,767


Day 12 required balance: 5,371
Day 12 closing balance: 7,027
Day 13 required balance: 5,532
Day 13 closing balance: 7,212
Day 15 required balance: 5,869
Day 15 closing balance:

Current balance: 4,074

Have been a rough week. Still in green, but behind run rate alot.

IMO, Eur/Usd should be a buy on dips.

Sorry for the absence...........

Been busy with my whatsapp group! And finally got a ECN account! Damn they finally willing to give me one..

But...I have had been discussing stuff mainly in the whatsapp group..I think this thread isn't that needed....

I will still be around trolling the forums..but I think this thread should be locked. Have PM-ed an admin to help with this...

Maybe I should make a trading journal? Maybe I won't? I don't know...

Scrap the above post...just realized something interesting we could do here...hehe. I will keep this thread then.. thanks to the dude who PM-ed me!

How do I link my TE to this thread? Lolz..

https://www.youtube.com/watch?v=3tmd-ClpJxA

ECN account up.

Just realized we can link TEs to threads.

Same shit, just doing it over again.

Goal of 3% a day.

Opening balance: SGD 3,000

Day 1 required balance: 3,090
Day 1 closing balance: 3,483
Day 2 required balance: 3,183
Day 2 closing balance:

Anyone who wants to join in the whatsapp group is welcomed as long as:

1. You are respectful
2. You are not in just for signals
3. You DO NOT have any commercial agenda
4. You are serious about making money.

Shoot me a PM.

Alert: In ~3 hours, we will have AUD Trade Balance news.

MZ was here. PIN not working...

Good to see a fellow Singaporean around. Trade well my friend!