Forex Trading- Weekly Outlook May19- May 23 2014

Its Monday again and the Forex market resumes.

Here is a quick outlook for the week ahead.


Source: Investing.com

Investing.com - The euro slid lower against the dollar on Friday following the release of uneven U.S. data, as concerns over the strength of the recovery in the euro zone added to pressure on the European Central Bank to ease monetary policy.Euro ends week lower against dollar amid euro zone growth fearsEUR/USD was at 1.3693 late Friday, holding just above the two-and-a-half month low of 1.3647 struck in the previous session. For the week, the pair was down 0.45%.
The pair is likely to find support at 1.3647 and resistance at 1.3731, Thursday’s high.
The Commerce Department reported Friday that U.S. housing starts rose 13.2% last month, after a 2.0% increase in March.
It was the largest increase in five months, indicating that the economy is shaking off the effect of a weather related slowdown over the winter.

Happy trading,

Yours sincerely,




 Check Out my other posts here- My Justinnation

Bangkok Trip Day 2

This post is the continuation of my trip to Bangkok last year, 2013

Before i forgot, we ended our 1st day with a nice foot reflexology or foot massage.

When you got to Bangkok, have to try their foot massage right...

There are a few massage shop right beside our hotel and we chose the one where the boss was able to speak Mandarin.

The cost was 200 baht per hour.

DAY 2- Platinum Fashion Mall - Kuan Seafood- Khao San Rd- Siam Centre

Its day 2 in Bangkok and after a nice night of sleep, we woke up, prepared and headed downstairs for our breakfast provided by the Hotel. (we stayed at Bangkok City Hotel)

After breakfast, we headed straight Platinum Fashion Mall.

We took a Tuk Tuk. cost is 50 Baht.


Once we arrived, it was still abit early, around 11 am.

The stores are just about to start their business and the first thing that we went to look for is a trolley bag so that we can stuff all the thing we bought into is and drag the bag along without having to carry it.

Platinum Fashion Mall is huge.

If I didn't remember wrongly, there was 6 Floors and each floor has designated type of things.

For example, there was a floor for bags and another floor for shoes.

For women clothing, there were several floors.

As for the men, there was only 1 floor but it was enough for me and Jinz.

Even walking that 1 floor had made our legs tired.

My girlfriend wanted to spent the whole day there because she had several floors to go through.

So, we basically walk separately.

After about 3 hours, we met up at a cafe near the entrance.

Me and Jinz are already ' low battery'

As my girlfriend arrived, we has a bit of discussion... and decided to go for lunch at Kuang Seafood.

Actually its in between lunch and dinner because it was around 3pm.


So, we took a cab back to the hotel, chuck the stuff that we bough, freshen a bit and headed down right away.

We then took a cab to the popular Kuang Seafood.

Ordering the food was quite easy because their menu is illustrtaed very well.

Except for one dish where we wanted squid instead of fish.

i had to imitate acting like a fish and squid to tell the waitress which one we wanted.

We all ended having big laughs after we understand each other.

White tomyam

Oyster with eggs...like our 'oh jian'

Grilled prawns.. very chewy and fresh

Yellow curry crab... this is the best.. especially when u eat it with rice

We also ordered one vege (didnt take photo  :(  )

Overall, the food was fantastic.

Price wise, we didn't cared much because each of us already agreed to prepared RM 500 for food and travelling expenses.

So, we just ordered without thinking much about the price.

But i think the bill was less than RM 200.

If you like seafood, you can consider this place.

Here is the address:

Kuang Sea Foods

107/13 Soi Rangnam, Samsen Nai, Phaya Thai, Bangkok 10400

Open Everyday 10 am – 2 am

Tel. 0-2642-5591

After the meal, we headed back to the hotel for a power nap...

After the nap, we headed to Khao San Rd.

This place is popular to expats.

There a lot of foreigners there.

Khao San Rd.

The street itself is like a night market but the road is still wide compared to other night markets.

There is a lot of stalls selling t-shirts, souvenirs and of course bars...

Initially, we thought of having dinner thee but there was nothing suitable plus we were still digesting the late seafood lunch.

After walking through Khao San Rd, we took a taxi back to Siam area and headed to Siam Center.

The reason for going to Siam Center is because we wanted to have something light for dinner and Mr' Jones Orphanage seem liked a good solution.

We were full, might as well just have some dessert.

So, that was our dinner for Day 2.

After having the cakes, we went to the night market opposite Siam Center.

It is right below the BTS station and it stretches long and keep on going until the next BTS station.

It is a very long night market and its another great place for girls to buy their fashion...

After almost 2 hours at the night market.

We called it a day and went back to the hotel to ZZZZzzz.............

Yours sincerely,




 Check Out my other posts here- My Justinnation

How Is Money Made in Forex?

I remember that once, a friend of mine ask me what I was doing and I told him I was trading Forex.

Then he said to  me ' Oh... forex? what currency you buy?'

I told him I trade various currency pairs.

before i could continue, he said "I recently also bough some US Dollars. I waited for the exchange rate to up.. then i change the US Dollars to Singapore Dollar. I made some money there"

I smiled at him at said ' Oh that's nice!'

But the way I trade Forex is different.

I told him I do it from home with my laptop.

Then his face changed signalling me a 'I don't know what you are talking about face'

So, that just show me how unfamiliar people are about online forex trading.

So, how is money made from Forex trading from home?

Well, in order to trade forex from home, we need to load our funds to a Forex Broker.

I am using FX Primus.

You can do a search on them, they are pretty good.

Low spread and great connection for the trading platform.

With our money in the broker, we can them execute BUY or SELL orders from the platform.


In Forex, we earn money by winning PIPs. (Pips explained here)

So, lets look at a simple example.

Say that we are trading the EURUSD pair and the current price is 1.3050

We enter a BUY order at 1.3050.

After a while, the price went up to 1.3060

As of now, the market price for EURUSD went up 10 Pips.

If i close my order now, I would have won 10 Pips.

Easy right?


A Pip in forex can hold a different value depending on the lot size of the trade.

As traders, we can trade
10 cents/pip, 
1 dollar/pip
10 dollar/pip
100 dollar/pip

You get the idea right?

Back to the example,

We made 10 pips from that trade.

If I had put down a lot size equivalent to 10 dollar per pip, I would have profited 100 dollars out of that trade.

If it was 100 dollar per pip, I would have profited 1000 dollars.

See the power of Forex?

You can learn in detail on how money is made from Forex here at this forum.

Hope this post help you see the potential  in Forex.



Yours sincerely,




 Check Out my other posts here- My Justinnation

My 4 Days 3 Nights Trip To Bangkok

Sawadeekap.....

I wonder if that is the right spelling but it doesn't matter much..

This is a belated post about my trip to Bangkok in 2013

After hearing from some friend that food and clothes there are cheap, me and my girlfriend started planning for a trip.

In the end, we ended up going with a friend of mine tagging along. He is like a younger brother to me)
Never went overseas before, so just bring him along..

We planned a 4 day 3 night stay at Bangkok and the bought our air tickets from Air Asia.
It cost us RM 417 for the round trip.
Pretty affordable I guess...

So we planned the trip on our own with my girlfriend leading the FOOD department.
Means she plan where we will go makan la...

I will be in charge to navigation...
How to go the places we wanted to go and go back to the hotel.

For our accommodation, we stayed ant Bangkok City Hotel

Overall, our stay was very pleasant.
The hotel was clean, staffs are well mannered and the location is great.
Its located in the same road as Platinum Mall. (will talk more about Platinum Mall later)
It is also very near to some main places like Siam Paragon, CentrePoint, MBK and Siam Centre.
All and all, you can reach this places by  taking a taxi or tuk tuk.
Won't cost you more than 100 baht.

Just beware, when taking taxi, always ask if they charge by meter or not?

Always take those charging with meter.

also, try to bargain with those tuk tuk fellas...

You will get much cheaper rates.

There was this older uncle who charge us just 50 baht to got to Platinum Mall.

But at the mall, another tuk tuk driver quote us 200 baht for our way back?

Crazy right.

we ended up taking a taxi for around 80 baht.

Ok, lets start with out trip.


Day 1- Centre World Plaza & Siam Paragon- Asiatique

We arrive at the hotel around noon and immediately checked  into our room.

We went to the lobby to ask for directions. (there were maps so it was easy)
I ask if it was near to walk to Central World Plaza, the staff said it is 'quite near'
She says around 15 minutes walk.

So we decided to take a walk.

But we walk for a very long time..  more than 30 minutes to get there.. (it was tiring man..)

So after a long long walk, we reach the place.

Apparently, this mall was rebuilt after it was bombed or collapse or something.

Without further ado, we went in search of LUNCH...

What better to start with Thai food... so we went to this place called Nara  in the mall.

They serve some authentic fusion Thai food.

Seafood Tom Yam Gung

Pandan chicken

Ommelete

The food was great, especially the egg.

Price wise, it is in the middle-high range.

It we compare it here, it would be like having a Thai food meal in a mall like One Utama or Mid Valley. Not cheap by anyways...

But it was our 1st meal here, so pamper ourselves a bit.

After a  few hours of walking tin the shopping mall, we headed back to the hotel for a bit of rest.

At around 6pm, we start our journey to Asiatique.

We took the BTS to Saphan Taksin and boarded the charter ferry proviided by Asiatique.

Its free but the queue was pretty long.

A quickselfie in the BTS

Asiatique

Map of Asiatique

Shops in Asiatique

Quick photo before leaving

Overall, Asiatique is a great nightspot.

It is clean and considered still new.

There is a variety of food there as well and ample of shopping that you can do.

We spent almost 3 hours there..

So that is it for Day 1....

Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading- 77% Gain in 17 Days

This post is about Forex trading.

For those of you who do not know anything about Forex, it my be the time for you to dig in to it..

I have been trading Forex for 3 years now and my profits are on and off.

Meaning not consistent but boy am i excited to share what I am about to share with all of you.

You see, we need to learn in whatever thing that we want to do and till today, after 3 years... I am still learning in Forex..

It may seem that I have found the answer... (the Holy Grail)

Check out my account that I have link to Myfxbook. (it's a demo by the way).

This is a new demo account that I started by using a new strategy....

Excited eh....

Up to date, my profits are $3896 based on an account starting with $5000 USD.

That translate to around 77% gain.

Man... I can't wait using it on my live account....

I am going to trade with this demo for the whole month of May...

By the end of the month, I will made another post to update on the result of using this new system..

So, stay tuned....

Yours sincerely,




 Check Out my other posts here- My Justinnation

Back To Blogging?

It's 2014.

man.. its been a long time since i blog.

But now i am back... and let's say  that I am once again continuing my hobby with blogging.

Sometimes i really don't know what to write about but i guess i can just talk about anything in my blog right...

So, besides talking about forex, I am going to talk about everything happening in my life...

That should keep me busy.

You see, trading forex has allowed me to have plenty of time in my hands and seriously, I don't know what to do...

So, i though about it and fell that blogging could help past the time...

i hope..

Forex Trading Basics That You SHould Know

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The foreign exchange, or forex, market is relatively young, having begun in the early 1970s after the United States dropped the gold standard and national currencies started to fluctuate widely.

For about 30 years prior to that, most nations had agreed to keep their currency values stable in relation to the U.S. dollar, making a forex market unnecessary.

Is It Suitable For You To Trade Forex?

Being a forex trader: Is it for you?

Being a forex trader is not for the faint of heart.

The foreign exchange market is a fast-paced world that operates 24 hours a day, 5 and a half days a week.

For some traders, fortunes are made and lost very quickly.

Yet for someone with the right know-how and enough motivation and drive, forex trading can be rewarding both personally and financially.

How many people make their living as forex traders?

It’s hard to say for sure, but we know the number is smaller than the number of stock traders.

Take Part In Forex Contests!

If you want to know how good your trading is, you can always take part in Forex contest help by various websites.

Recently, i took part in a forex contest organized by FX Pro.

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It only take a few minutes to register and every contest will have different time lenght.

Some would last 2 weeks while some goes on for a month.

For example, the one that I am in now goes on for the whole month of May 2013.

So, where can you find these contests?

You can find them in MyFxBook.com

Sign up with an account and you will be able to link MyFxBook to your trading account to see how your trading is fairing up.


At the time of this post, my position is at 304 out of 4234 competitors.

My account is up by 57.65%.
It is a long way behind the top guy who has registered a 7982.6% gain in just over week.

These high flyers are mostly trading Gold and Silver.

I checked them out of course :)

So why enter Forex Contents?

There is a prize money!

For this one, the winner will get $3000 funded into a FX Pro account.
So, to get the money, you need to register as a FX Pro user. Of course, you can trade with the money or withdraw it out after 1 day.

Pretty good huh... You can practice and win money at the same time.

The 2nd place will get a $2000 account and 3rd will win a $1000 account.

So, if you come across any forex contest out there, you can simply join the contest to see how well you perform againts traders from all over the world.

So, wish me luck.

Yours sincerely,




 Check Out my other posts here- My Justinnation

Your Forex Trading Strategy Is Everything

A good forex trading strategy can mean the difference between failure and success.

No sane person would jump into the forex market blindly.

You might as well set your money on fire if that’s what you’re going to do.

Sensible investors study the market carefully first, learn the ins and outs of currency trading -- and even then, before they launch into it, they devise a smart forex trading strategy.

The market is constantly changing and is not always predictable, true.

But you still need a strategy, one that allows for unknowns and surprises.

Your strategy should begin with how much money you can afford to lose.

That may sound like a negative outlook -- after all, the goal is to MAKE money, not lose it -- but common sense tells you that the forex market is a gamble.

There are precautions you can take that will make you less likely to lose your initial investment, but there’s no way to guarantee it.


Your strategy must allow for the possibility that you’ll take a bath, and for that reason you should never invest more than you can afford to lose.

Another good tip for your trading strategy is to avoid putting all your investments in one currency.

What’s the old saying about eggs and baskets? Yeah, don’t put ‘em all in one.

Spreading them out makes it much, much less likely that you’ll be wiped out, the way you would if you relied on one currency and it bottomed out.

As you prepare your trading strategy, make yourself aware of what the market is doing right now.

Is it trending upward, or downward? What’s the general mood among traders? They all have a strategy, too, and are eager to know what others are thinking.

Consider also what your timeline is.


How long do you want to stay in the market before taking your profits and getting out?

Your strategy must also involve learning the timing of the business.

Timing is everything: Too late or too early and your potential profit evaporates. As you learn to gauge the market and make trades at just the right time, your profits will increase.

A good strategy will factor in this learning curve and allow for a few mistakes at first.

Above all, to prepared to accept surprises when it comes to forex trading.

Strategy can only get you so far. The rest is ingenuity and a little bit of luck.


Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Demo: Always Trade Demo Account Before Trading Live Acount

Before airplane pilots actually fly on their own, they usually practice in simulators that re-create what flying will be like without any actual risk.

Since currency trading is as dangerous financially as flying is physically, it makes sense that there would be a forex demo available, too.

A forex demo is a smart way for a new investor to start.

Reading books and taking online courses can teach you the basics, but the best way to learn anything is to get some hands-on experience.

However, with forex, hands-on experience could mean losing your shirt.