FXEgypt Forex Contest

Been busy for this few weeks and dont have time to trade. At the moment my contest account in up by 1k. Hopefully next week onwards I can concentrate on trading. Currently the highest profit maker is up almost 5x and from Malaysia. Wish I can see him trade. He is good. Up 5x in 10 days.

How To Trade The Trend

This is going to be short and simple. The best system is the simplest. Take any of your best indicators, apply them to daily chart. Look for the trend.

Take the same indicators apply them to hourly chart. Based on the daily trend look for entry.

If the daily chart is saying uptrend, use your hourly chart to find long position only. If the daily chart is saying downtrend, use your hourly chart to find short position only.

If the daily chart is saying uptrend and u have a short signal from your hourly chart, you can close your position and take another position when the hourly chart is giving the same signal as the daily chart and vice versa.

Remember forex is not about how smart you are. Its about discipline and money management.

Forex Review: JPY Pair

After an all assault of uptrend, finally Jpy pair are showing sign of slowing down. GJ have shown a short signal and is dropping for these few days. UJ is still climbing but at the moment having difficulty breaking 120.50. If it holds than we should see a big drop in all JPY pair. Anyway all depends on tonight NFP report. If its good then 120.50 will be broken. If its bad then we will see a new trend. Happy trading.