Weekly Forecast (FX)

EUR/USD

Market has formed a reversal at 1.2586 on 24/8/2010 (Tuesday) and closed at 1.2760 on Friday.
Since I have missed the entry during reversal, I only plan to enter intraday trades with tight risk management.

If you zoom into 30 mins chart, you can see a divergence and hopefully the market can come down to 1.2680 region for my Long entry.  I do not want to short as I feel insecure to trade counter trend now.

My Trading Plan:

1. Long at 1.2680-650 (Fibo retracement),
   SL 1.2600 (Current Support), TG: 1.2900
2. Intraday Long at 1.2626 (Fibo Range),
   SL 1.2586 (-40 pips), TG 1.2800.

GBP/USD

The correction from the top of 1.5997 is not significant, in fact, I am waiting for this pair to come to 1.5100 region.

Strong Reversal spotted at 1.5370.

From Weekly and Daily Chart, we can see that this pair has formed a reversal signal, you can also see a pincer bottom at 4 Hour Chart.

Trading Plan for Intraday only:

1. Intraday Long 1.5400
   SL 1.5370 (-30 pips), TG 1.5590 (+190)
2. Intraday Short 1.5599
   SL 1.5620 (-21 pips), TG 1.5450 (+149).

AUD/USD

AUD/USD made a strong bounce up and close at 0.8986 on Friday, biggest gain this month.

 

Strong Resistance: 0.9080

Resistance: 0.9020

Support: 0.8870

Strong Support: 0.8770

My Trading Plan for coming week:

1. Short 0.9020
   SL 0.9050, TG 0.8870.
2. Long 0.8870
   SL 0.8840, TG 0.8990

Weekly Forecast

I have missed opportunity to short on Monday by planting my short at 10,310, while the highest this market has retrace is 10,304. With Dow formed a new low 9,939, we are moving closer and closer to the fall~ :)

For those who missed our call to short from 10,700, followed by 10,450, and 10,300... don't despair, we can always spot opportunities in market.

DJIA

Last Friday, DJIA has the biggest gain in 1 day since 9th August 2010, and closed at 10,150.

Strong Resistance: 10,450
Resistance: 10,300
Support: 10,050
Current Support: 9939 (Low on both 25/8 and 27/8)

We reckon this market to retrace up to 10,250 region on Monday and Tuesday. It is a good opportunity to plant your shorts before CB Consumer Confidence announcement at 10pm on Wednesday (GMT+8).

Intraday Traders can short at 10,200-269 region with Target Exit at support 10,050, and 9,950.

We can smell the beginning of the fall by now, understand your risk appetite and at the same time protect yourself with controlled risk, don't miss the opportunity to catch Short at 10,200 - 10,269, with SL at 10,340 region; Our Target Exit at 9,800 and 9,600.

NDX 100

Strong Resistance: 1,860
Resistance: 1,820
Support: 1,760
Current Support: 1,720

To pick short around 1,800 SL slightly above 1,820.  Target Exit 1,760.
Should the market break above 1,820, next level to short is 1,860.

Tuesday FX Followup

Related Post: Weekly Forecast: http://ayumi216.blogspot.com/2010/08/weekly-forecast_23.html

EUR/USD

My order is filled,
Long 1.2685, SL1.2655 (-30), TG 1.2900
The market has moved in favour during the day, however resisted at 1.2720, at last EUR/USD has break support 1.2655 and continue to go down.

My stop loss is triggered.
I am going to look for opportunity to Long for reversal when market falls to 1.2550.


GBP/USD

Market did go up to high 1.5620 as forecast, my shorts at 1.5650 is not filled, and the market has started to fall from here.

I remain my view that this market will come down to 1.5180 in 1-2 weeks.

For Intraday, I will pick short around 1.5550, SL 1.5580, TG 1.5430 (current support), TG2: 1.5395.


AUD/USD

The most beautiful forecast is on AUD/USD.

Remember my trading Plan:

My Trading Plan for next week is:
1. to hunt for short around 0.8960-9000 with SL slightly above 0.9020.
2. It current resistance level 0.9020 has been taken out convincingly, I would wait for market to come to 0.9050 before I initiate any trades.

Market has come up to 0.8981 but didn't hit SL.
it is currently trading at 0.8870, congratulates to those who followed!

Today, I suspect AUD/USD will re-test the low of 0.8840, if market happen to rebound from here, my trading plan will be:
1. To wait for the market to rebound up to 0.8950 for new short entry.

Related Post: Weekly Forecast: http://ayumi216.blogspot.com/2010/08/weekly-forecast_23.html

Gratitute

That I am truly Grateful, of what have happened to my life since April 2010.

That I am truly Grateful, of Sifu DAR sharing yesterday evening.

That I am truly Grateful, of knowing, if I am gotta improve, there are many ways, and there will always be ways to improve.

Sifu DAR shared, that you have to face your own weaknesses, that you will know that there are something you can do about, and if you already doing it, there're still 1,000 ways to improve.

That I am truly Grateful, of Mentor JC sharing with me, care of me, put so much of hardwork, planted so many seeds and constantly nourishes me, encourage me, and make me a better trader, better person.

There are so many people who wanted to do what I am doing, but the result may not be what they have expected.  There are so many people, who has been facing frustration, problems, and there are so many people, was actually waiting for leadership, for guidance, for care.

It is so hard to care about other people, it is so hard to admit our own weaknesses.

I cried, I lost, I am frustrated... I am the one and only person, to most lucky person on earth, to have the blessing to receive this Great Gift from mentor JC - the total, complete guidance, the ears to listen, the trust, empowerment, so many so many... he makes it happen, he makes me believe, I am capable of something, I can make it, and that's how I am still standing, still walking, still learning and growing.

It is so hard to care, it is so difficult to be kind.  And yet I saw divine in this person.

At the other end, I saw myself a self-centered person.
All mentor has taught me, is all about me.
All mentor has guided me, is all about my objectives.
All he has done on me, is for me.
What I have done, is only about me, about what I want.
I am such a self-centered person who focus on my path, my job, only.

Did I ever care about others?
It is so difficult to be kind, while sometimes we have to tell harsh things, in a very subtle, gentle way.
Oh I realized I have so much work to do, that I am gonna improve, and progress, to be a Person.

I am the product of his guidance, from a zero knowledge, total ignorant and silly girl, to what I am today.  I am so happy that I have come to realize and aware of myself, I am so happy that mentor is honest, is truthful and he is REAL.
There's no way to doubt what he has done is so damn right, and he is doing it, every minute, every hour, every day, for days, for weeks, for months.

I am so lucky to have mentor JC to listen to my frustration in trading,  I am so lucky he has yet to drown with my tears. :P
I have been unrealistic, and thank you mentor for showing me what is wild imagination and face the truth.
I have been having wrong expectations, thank you mentor for showing me live examples.
I have been stubborn, thank you mentor for softening me and make me aware of my weaknesses.
Thank you mentor for giving me total freedom of choice.
I am so lucky to have mentor JC, to know what I have gone through in trading.
I am so lucky to have mentor JC, to run to, and to tell him "I have made 964 pips!"
I am so lucky to have mentor JC, to want to know my trades.
I am so lucky to have mentor JC, to confirm my actions.
I am so lucky to have mentor JC, to reinforce my thoughts, again and again without fail.
...
...
I am so lucky to have mentor to explain everything to me,  I am so lucky to have mentor showing me ways to improve, I am so lucky to be guided, guarded and protected.

Weekly Forecast

EUR/USD

Current Resistance 1.2930
Current Support 1.2700 region.
Next Support 1.2550

EUR/USD has formed a nice reversal candlestick pattern in 30 minutes and 60 minutes chart at 1.2663 and closed above 1.2710.

I foresee the market to do a correction up to 1.2900 region.

My Plan for next week:
1. Long at current support at 1.2700 region, place my SL 40 pips away and TG 1.2900.
2. However, if market has break below current support, market to fall to test the next support 1.2550 region. ALWAYS protect ourselves with Stop Loss.


GBP/USD

Resistance: 1.5670
Support: 1.5460

I forecast this pair to fall to 1.5180 region in another 1-2 weeks.
We can see that the weekly candle has actually formed a small bodied candle signal market indecision.

I prefer to wait for market to come up to 1.5650 region to plant my shorts.

My trading plan for next week:
1. Look for Opportunity to Short near resistance level, preferably 1.5630-5670 (Intraday).
2. If market has break above this 1.5670, check for market reversal when it approach to next resistance 1.5730.


AUD/USD

I have a very good profit from AUD/USD last week, +380 pips! ^__^

Strong Resistance: 0.9080
Resistance: 0.9050
Current Resistance: 0.9020
Current Support: 0.8840
Trading Range should be 0.8870 - 0.9050

My Trading Plan for next week is:
1. to hunt for short around 0.8960-9000 with SL slightly above 0.9020.
2. It current resistance level 0.9020 has been taken out convincingly, I would wait for market to come to 0.9050 before I initiate any trades.

Weekly Forecast

DJIA

From Weekly Chart, the market has reached to high of 10719 on 9 Aug 2010 (Monday) and turn down from there.  It has fulfilled the Head and Shoulder pattern with the Right Shoulder high 10,719.

If you look into Daily Chart, it has formed a nice inner wave.

Current support for DJIA is 10210 (confluence with EMA200 on Daily), once the market has break below 10210 and closed below it, we are expecting the market to turn down to 10,000 region.

As mentioned by Master wccm on Friday (Link to Forum), we are looking at DJIA to retrace up to 10,400 region.  For those who have attended Professional TA, you can see a good pattern in 1 hour chart, that support our view.

Do capture good short entry with tight risk management.

I recommend to Short at 10310 with SL 50 points away.
If market break above 10360, next level to pick short is 10,400 with stop loss at 10,500.

I do not recommend Long as it is counter trend, however, for intraday trading, we foresee the market to be trading in 10200 - 10450 on Monday.  Intraday traders and initiate orders at the extreme end with controlled risk.


NDX 100

I suspect Nasdaq 100 to be trading within 1860 - 1810 region, preferred to short at 1860 region with relative low risk.  Our target is 1,790 followed by 1,720.

Wishing all of us make good trades during the auspicious Ramadan month which the Muslims Fast and practice about patience, humility, and spirituality.

Related: APSRI Forum
Related Topic: 
APSRI Forum : DJIA and Nasdaq 100 Index Trading
Related Post: 
APSRI Forum : DJIA and Nasdaq 100 Update for Mon 23 Aug 2010

Transactions (FX)

AUD/USD

Position closed at 0.8865 and 0.8860.
Yes! Just now reach to low of 0.8840, I am soooooo happy.

The Habit of Mindfulness

I was looking for a missing file in my laptop, and I found that there are so many great articles in my library, related to trading.

I am reading this "The Habit of Mindfulness" by Brett N. Steenbarger, the Author of Psychology of Trading, you can find his link at my Psychology Tuning Blog Rool, or you may click here to link to his blog.

This article is long, it is longer than any of the posts that I have posted so far... :)  WORTH Reading.

The Habit of Mindfulness
Brett N. Steenbarger, Ph.D.
www.brettsteenbarger.com

Note: A version of this article was submitted to the Trading Markets site on 10/14/05.

"Our joy, our peace, our happiness depend very much on our practice of recognizing and transforming our habit energies. There are positive habit energies that we have to cultivate, there are negative habit energies that we have to recognize, embrace and transform. The energy with which we do these things is mindfulness.

Mindfulness is a kind of energy that helps us to be aware of what is going on. Therefore, when the habit energy shows itself, we know right away. "Hello, my little habit energy, I know you are there. I will take good care of you." In recognizing it as it is, you are in control of the situation. You don’t have to fight it; in fact the Buddha does not recommend that you fight it, because that habit energy is you, and you should not fight against yourself. You have to generate the energy of mindfulness, which is also you, and that positive energy will do the work of recognizing and embracing. Every time you embrace your habit energy, you can help it to transform a little bit.

The habit energy is a kind of seed within your consciousness, and when it becomes a source of energy, you have to recognize it. You have to bring your mindfulness into the present moment, and you just embrace that negative energy: "Hello, my negative habit energy. I know you are there. I am here for you." After maybe one or two or three minutes, that energy will go back into the form of a seed, in order to re-manifest itself later on. You have to be very alert."
Thich Nhat Hanh
Transforming Negative Habit Energies
[link to the teaching is not available, alternatively, visit: http://www.plumvillage.org/]

There is more to ourselves than our selves.

When I am trading poorly, I stop observing the market. I become convinced of a scenario, locked in a bullish or bearish stance. Though I am not psychotic, there is an important sense in which I am out of touch with reality. I convince myself there is opportunity when there is none. I feel impelled to pick a bottom in a falling market. At those points, I am driven by emotional needs that are outside my conscious awareness. The Russian philosopher and mystic G. I. Gurdjieff described people as sleeping: they walk, talk, eat, love, and work the automatic patterns and routines that we identify as our selves. That is how I trade when I trade poorly. I am operating mechanically, in a kind of sleep, impelled by forces that I do not control. I trade with my habitual self, not myself.

When I am trading normally, I closely observe the market. I watch volume at each price level to see if the market is facilitating trade or rejecting that level. I observe the proportion of volume hitting bids and the proportion lifting offers, catching swings in the short-term sentiment of large traders. I study the most recent market regimes and closely scan the correlated markets that lead my market: interest rates, oil prices, and various sectors. Throughout these observations, I am formulating hypotheses, and sometimes I test these hypotheses with trades. When I am trading normally, I behave like a scientist, using the outcomes of trades to inform me about the market and aid the reformulation of my hypotheses.

When I am trading well, I observe myself observing the market. I am aware of market action, but I am also conscious of my own reactions. My Internal Observer knows that, if I feel boredom or panic, other traders probably feel the same way. The Observer also knows my habits: that I will be tempted to pile on during breakout moves or place a trade shortly after a loser to get my money back. The Observer doesn't fight these tendencies. Instead, it dispassionately observes them even as I observe the market. I know I'm trading well when I say to myself, "Here is a place where I used to take that impulsive trade." I perceive my robotic tendencies, but they no longer control me. It is difficult to identify with a pattern and simultaneously stand apart from it as an observer. In the observing mode, I am more myself; my self recedes to the background.

Charles Tart, in his excellent book Living the Mindful Life, cited the patriot Patrick Henry as a source of spiritual wisdom for his words: "Eternal vigilance is the price of freedom." We only have free will when we activate the vigilance of self-awareness. We rarely think of trading as a spiritual discipline, but Zen Buddhists know better. Every task in life, Thich Nhat Hanh teaches, can be performed with or without awareness, from gardening to the pouring of tea. Like muscles, free will is strengthened with use. Gurdjieff used to call out to students to "Stop!" at random intervals, so that they could take the time to step outside themselves and activate self-awareness. Thich Nhat Hanh's Plum Village community in France used the ringing of bells for the same purpose. These are alarm clocks that rouse us from sleep. It is not so difficult to remember ourselves--our goals and trading plans--but it is very difficult to remember to remember. At its best, trading teaches us to awaken; it rewards consciousness and punishes habit. It beckons us to replace our selves with ourselves.

[2V1G + Jz8] This Saturday

Date: 21st August 2010 (Saturday)
Venue: Bentley Music Auditorium, Mutiara Damansara
Time: 8pm – 10pm
Ticket Price: RM90
Booking: Ms Lim Su Li (017-6586513)

2V1G


Their CD will be available nationwide on next Wednesday 25th August 2010, you can also get their CD on Saturday 21st August 2010.

Like!

Jz8

EUR/USD

I found more reasons to Long this pair...

50% Fibo Retracement, Butterfly Pattern, Price Action - Support & Resistance.

EUR/USD Trading Plan:
Long 1.2775
SL 1.2735
TG 1.3080

Weekend Project

I read from Great Sifu's sharing today:

"If money is your hope for independence you will never have it.  The only real security that a man will have in this world is a reserve of knowledge, experience and ability. ~ Henry Ford.

It has been a week that I automatically awake around 8.30am, before Malaysian equity market opens at 9am, Futures market opens at 8.45am.
Normally I would close my eyes, and wait for an sms - the sms of daily index updates.

Its like waiting for a daily feed of fundamentals, waiting for a lover's call, the feeling is great, that Mr. Market is not only the passion, but has evolve to a lover status *shy* Ayumi turns abnormal ~ I wished to make it clear here, I am not a robot, how I get to have this good feeling is - I am doing something that I have always wanted to do, I have started to put the habit into practice, creating a new routine, crafting & sailing to success and happiness in my life.

p/s:
Indirectly, for the week, I skipped yoga at 7am :(
Luckily I still manage to go to the fitness center for evening sessions.

Secondly, this coming weekend would be ProMaster August 2010, I would re-sit the module, and to re-learn the basics, to reinforce the PowerWave structure, Intraday trading, short term trading, Market Fundamentals, Money Management, so many so many.  Without attending ProMaster back in April this year, I wouldn't have the chance of passing so many personal barriers.

Without attending ProMaster, I wouldn't have meet so many great traders, I wouldn't know that - taking down my own shortcomings and evaluating my inner self can be so important to achieve another milestone,
thanks to Sifu DAR Wong's proven method,
thanks to Mentor JC for the CONTINUOUS support and mentoring from Day 1 (without fail), he has rescued me everytime I fall into the *strugglez* black hole, thanks for the belief and thanks for the message of happiness :)
thanks to my coach Denny, Terry, and coming, Heng Cheong.

Thanks to myself, for giving myself an opportunity to try. ^__^

Related Link:
ProMaster: http://traderpromaster.weebly.com/
About my Sifu: http://www.pwforex.com/ceo.htm
Updates: http://www.pwforex.com/update.htm
Forum: http://www.pwforex.com/forum/

忘记

要忘记一件事情很难。
因为，一旦记得了以后，要想忘记，根本是不可能的，
好比储藏那一项记忆的脑细胞，不可能单一消失。

我们不能够忘记乘法表，那是小时候辛苦背回来的。
我们不能够忘记第一次被爱情所伤的经验，那是以真心换取回来的感动。

我是记性很好的人。也是感情丰富的人。
我也拥有一种超凡的能力，那是除了忘记以外，我发明的自欺欺人的做法。

我会把想要忘记的事情，封锁起来。
刚开始，别人会觉得我感情丰富，之后，别人会以为我冷血无情。
我的做法就是让自己完全沉溺在伤心之内，然后，迎回力量，把目标转移。

之后，我不想再提起。
这时，别人都误会我无情。
这种误解，无需解释。
我不想解释，因为，解释，只为了满足人们无知的八卦。

可是，最近发现，所有自欺欺人的“封锁”，能够逃过别人的目光，却离不开我的心。

就好像，风华已经过去，却仍旧回味无穷，甚至误以为现在，和以前没有分别——误以为现在和以前一样。

我和普通人没有两样。
我也是那一个样。

我也有很伤心的过去，我也有很失败，很愚蠢的想法。
到现在也是一样。
每天每天的Trading，只让我更加更加了解自己，只让我不停探索，而我现在正在一个死角，要跨越，却还没有找到方法。

我想好好面对自己，好好接受自己。
接受自己也是一个普通人。活着就是不停探索、不停成长的生命历程。

GBP/USD

We are expecting the announcement of CPI (Consumer Price Index) Y/Y at 4.30pm (GMT+8) today.

This is considered the UK's most important inflation data,
Previous Year 3.2%
Forecast 3.1%

I hope that the data release can be higher than forecast.
which is good for currency.

This pair has been trading in small range last night...
It is now trading at 1.5680, I wished that GBP/USD can be pushed higher. ^_^

My order today:
(1) Short 1.5730
SL 1.5770 (-40)
TG1: 1.5540 (+190) - current support
TG2: 1.5450 (+280) - Fibonacci Retracement

If order is filled and triggered, the next point that I am gonna short would be
(2) Short 1.5840
SL 1.5880 (-40)
TG: 1.5540 (Current Support)
TG2: 1.5340 (ABC)

AUD/USD

Almost missed this one!

Saw a nice pattern in AUD/USD.
Open up the 4 Hour chart, I can see a Head and Shoulder formation now, waiting for the right shoulder to form,
Expecting this market to continue go up to 0.9070 region in these 2 days.

I prefer to :
Short at 0.9070 with SL 30 pips
TG1: 0.8860 (Current Support)

If you have bigger appetite, do profit pyramiding and the next target will be :
TG2: 0.8660

Everybody wants a bigger profit, one way is to.... expand your wallet size! ^__^
I have few ideas:
1. Buy a bigger wallet,
2. dispose all the unnecessary cards away!
erm... I mean those name card of other people, picture of the ex-es...
and... better keep credit cards cuz they provide zero 0% interest for 30 days
p/s make sure clear all debts by due date....

Weekly Forecast

another 4 hour to market open...

GBP/USD

Weekly candle - bearish engulfing reversal sign with resistance at 1.6000 region (6/8/2010 High).  Closing the weekly candle at 1.5586.

This pair may continue to fall in the beginning of the week. Current support 1.5560, next support 1.5460.
Aggressive Long Trades: Suggest to pick Long at 1.5500 region with SL slighly below this support 1.5450.
If this support cannot hold, the next support will be S2 @ 1.5169.

By mid of the week, good to hunt for short at resistance 1.5680, or 1.5740 (more likely to happen).
Short Trades: I would prefer to plant shorts at 1.5740 region, and/or wait for reversal sign near this level.

EUR/USD

Weekly candle --- Long bodied Black Candle!  Stochastic crossed down.  Bearish!

No reversal sign from bottom yet... not sure how far this pair can go down....
Supports: 1.2700, 1.2450.
Hope that it can go up a little bit for me to plant shorts.... ^___^
1st Resistances: 1.2930
2nd Resistance: 1.3030
Target Exit: 1.2750, 1.2500.


USD/JPY


Not the type of market I know how to trade yet....
Weekly stochastic very low and crossed up.
... will post my trades if there are trades ...

Review 12-Aug-2010

Review on 23 June 2010.

During 14/6 to 23/6:

Net Profit +161 pips.

Review on 11 July 2010.

During 23/6 - 9/7/2010:

Net Profit +195 pips.

Trades:

13/7 USD/JPY Long 87.20, close +180 pips

13/7 GBP/USD Sell 1.5080, Close -40pips

13/7 EUR/USD Sell 1.2624, Close -43 pips

13/7 USD/JPY Buy 88.42, Close -22 pips

13/7 GBP/USD Sell 1.5099, Close -21 pips

16/7 USD/JPY Long 87.37, Close -22 pips

Net +32 pips

20/7 GBP/USD Short 1.5350, Close +130 pips

19/7 EUR/USD Short 1.2981, Close +1 pip

20/7 USD/CHF Short 1.0537, Close +35 pips

20/7 EUR/USD Short 1/2989, Close +122 pips

22/7 EUR/USD Short 1.2795, Close -31 pips

22/7 EUR/USD Short 1.2806, Close -18 pips

22/7 EUR/USD Short 1.2835, Close -17 pips

22/7 EUR/USD Short 1.2865, Close -15 pips

22/7 EUR/USD Short 1.2880, Close -47 pips

Net +160 pips

2/8 GBP/USD Short 1.5784, Close -46 pips

2/8 EUR/USD Short 1.3066, Close -24 pips

10/8 GBP/USD Long 1.5780, Close -18 pips

10/8 EUR/USD Long 1.3110, Close -42 pips

12/8 GBP/USD Short 1.5798, Close +101 pips

Net -29 pips

Accumulative from 14/6 to 12/8/2010:

+519 pips

Transactions (FX)

GBP/USD @ 12pm (GMT+8)
Short: 1.5672
Stop Loss: 1.5720
TG Exit: 1.5576 (Intraday)

USD/JPY @ 4.20pm (GMT+8)
Short: 85.64
Stop Loss: 85.81
TG Exit: 84.80, or close at any price at 12pm, 13/8.

Update:
My queue on EUR/USD is too far @ 1.2950, today high 1.2933, sigh~ didn't get the entry.

Transactions (FX)

GBP/USD @ 4.06pm (GMT +8), 11 August 2010.
Short : 1.5798
Stop Loss : 1.5835 (37 pips)
TG exit : 1.5638 (160 pips) or any price at 12pm (GMT+8) tomorrow.

Update :: 2010-08-12:
Position closed @ 1.5697 (+101 pips)

Financially on Track?

Of late, we have been inundated with news that may significantly affect our financial well being.  The headlines tell of uncertainties in the global economic recovery, volatility in the global equities market, rising interest rates, rising inflation rates, removal of government subsidies, etc.  You can't help but wonder:
Are you saving enough money for your loved ones should something happen to you?

To see whether you are on the right track, first, you need to know where you are going...

"what are your financial life goals,
when do you want to achieve them,
how much will your goal cost,
how will you achieve them as well as
what are the indicators that determine if you are on track to achieve your goals."
~~ Tang Wee Hen, financial consultant coach with Harvest Gold Resources Sdn Bhd
extracted from Personal Money, August 2010 edition.

"Come up with a written financial plan, then review and revise it on a regular basis."

A clear, firm goal is required and it needs to be written down.  Studies have shown that writing down the planned action increases the chances of follow-through.

We constantly ask ourselves what the most important things to us are, not just in the present, but also in the foreseeable and imaginable futures.

We need not only focus on return of investment, wealth accumulation aside, we need to work at being a person with good values and to cultivate a good relationship with those around us.

Imagine this:
Assuming that a man works hard all his life to accumulate wealth, and he seems to be well on track financially.  however, he has no time for his family.  Eventually, his wife leaves him and takes the children with her.  She remarries and also has custody of the children.  Therefore, all the funds that this man has have become meaningless in a sense.

extracted from Personal Money, August 2010 edition.

KL Stocks

KL Value Stocks portfolio:

BSTEAD.KL and PETDAG.KL
share prices of BHIC and Boustead Holdings (BH) surged on high volume this morning amidst a generally weak market.  My holding on BSTEAD.KL (last done RM4.28) has made an unrealised profit of 9.5%.

I have just received an email from my broker, on the RNAV of BHIC, and BH, I am not sure how to read, just read the last line.. ^___^ attach herewith the back-of-envelop calculation of Boustead Holdings’ RNAV from HLeBroking:

At the other hand, PETDAG.KL has also recorded high of RM10.40 just now, in which creating an unrealised profit of 11.1%.

Thanks to the Malaysian stock market and futures market.

Worry too Much

Got myself the 2 Disc Kung Fu Master Edition - Kung Fu Panda (DVD)

I know my niece like this animation a lot... I still remember the photo taken with her, sitting so focus watching the movie.  I remembered the part how Shifu teaches Panda on the hill, how he lure him with food...

There's a part where Panda meets master Wu Guai..

Panda: i probably sucked more today than anyone in the history of kung fu.. in the history of china, in the history of sucking...
How is Shifu gonna turn me into the Dragon Warrior?

I mean, I am not like the Five,
I have no claws, no wings, no venom... Even mantis has those.. thingy.
May be I should just quit and go back to making noodles.

Master Wu Guai:
Quit, don't quit,
Noodles, don't noodles,
you are too concerned with what was and what will be.
There's a saying:
Yesterday is history
tomorrow is mystery
but today is a gift, that's why its called the present.

What Master Wu Guai said in Cantonese:
走，不走，
煮面，不煮面，
你太担心以前怎样，又太担心以后会怎样。
这样是不得的，俗语有云：
“昨日，过左去，
听日，话知巨，
今朝有酒今朝醉，
咪到第时下低一具具。”

Gold investment

It was on Tuesday that I attend Sifu's Gold Talk.
Until now only I can see it on the chart myself... Phew!

True true masters, I have a lot of work to do...

Even though Gold has been bullish for past week, it has been going up up.
Finally! I saw how we can mark the PowerWave into Gold Chart. hehheee....

Salute! to our forum masters
Link to APSRI Gold & WTI Crude Daily Report: http://www.pwforex.com/forum/viewforum.php?f=4
Link to APSRI Gold & WTI Crude Weekly Report: http://www.pwforex.com/forum/viewforum.php?f=2
Also, please follow Sifu's Daily Update on Facebook: http://www.facebook.com/ApsriTraders

From 4 Hour chart we can see some support resistance here.
Resistance:
R3: 1243

R2: 1228

R1: 1210 (hit and closed below)

Support:

S1: 1190

S2: 1175

S3: 1160

How is this information gonna be useful to you? ^__^

Please follow our daily update on Facebook and APSRI forum for further details.

Weekly Forecast (FX)

EUR/USD

As mentioned in last week forecast, Euro has successfully hit my forecast of 1.33 region.
EUR/USD has reached to High of 1.3333 on Friday 6 Aug 2010.

I foresee the rally to continue to hit to my next Target 1.35.
Support: 1.3080
Resistance: 1.3350 (EMA200 on Day Chart)

1) to Long (Trade with Trend):
Buy at 1.3110 region. SL 40 pips. TG1: 1.33, TG2: 1.35.
2nd way to enter market, look for reversal at 4 Hour chart, likely to happen on Tuesday.

2) to Short:
Patience..... 1.35 is still my favorite resistance level, observe for reversal sign.


GBP/USD

There will be some figure release on Wednesday.
GBP/USD hit the high of 1.5997 on Friday 6 Aug 2010.

Resistance: 1.6000.
Weekly chart - stochastic oversold.

1) to Long
Buy at 1.5780 region, SL 45 pips, TG: 1.5980
Also can observe for reversal at 4 Hour chart.

2) to Short
Short at 1.5980 region, with stop loss above resistance level (1.6030).


USD/JPY

USD/JPY dipped to 85.02 on Friday.
It is hard for USD/JPY to spell BULL at the moment unless it successfully crossed 86.00 and stayed above 86.50.

Support 85.00
Resistance 86.50
Traders may wish to trade Long at 85.00 region, or Short at 86.50 region with 30 pips SL.

ProMaster

It is only another 2 weeks to ProMaster, but my heart beat faster every time I thought about it.

My revision of ProMaster module Day 1 is complete.  In the coming 2 weeks, I am gonna finish Day 2 module with homeworks on backtests.

I met some fellow friends at wedding dinner last night, some tells me they are very interested in trading and investment, but.... either they have yet to start, or they think that it is gamble, or they think that they can double up their money in just 1 night, double again the next day, and be rich and wealthy.  I don't mean this is not right, but I just wonder how come...

Refused to learn from basics, hearsay, and make decision merely based on others' advise...

1) people make money, and that someone become Guru;

2) people lose money, the someone is the only person to blame, or people blame that trading cannot make money...

I scratched my head and caused many dandruff falls >.<

I am very glad that I have attended Trader ProMaster in April 2010, I used to laugh at myself how I tell mentor JC: "don't tell me about FX, I am not gonna trade on it anyway." hahahaha...

Without attending this module, I may not step on this cruise, and ride steadily on the sea with storm and rain.  The family has indeed provide a very good shelter, it is only whether the individual wanted to participate in it or not.

Everyone has a potential in them, they can work it out, they can achieve, they can create happiness.

Quote sifu in his mindset tuning eBook:

"Knowledge is not about what you know.

Knowledge is about how to apply them for benefiting ownself or others;

in most cases, making practical profits."

from a Trader's Handbook II - instant mindset tuning -

Weekly Forecast

DJIA

I have entered a short last Friday at 10,645, DJIA down for more than -100 points (lowest 10,516), and rebound.
triggered my buy stop order 10,645...
Gotta hunt for another entry next week.

The reversal has signaled a bullish trend continuation.
Check 4 hour chart, it even showed a bullish engulfing pattern.

I am not surprised that DJIA will go up up next week with resistance kept at 10,700 and 10,900.

Monday range would be 10550 - 10730:
1) Aggressive Long Traders may wish to buy at current support 10,500-550 region,
abandon long view should market break below 10,400.
2) Short Traders are advised to be patient to look for reversal at 10,730 region,
should market break above 10,750, next target is 10,900.

NDX 100

Monday trading range should be narrow 1875 - 1920.
Strong resistance 1940.  I suspect Nasdaq will chase another 10 points to 1,912 on Monday.
1) Aggressive Long Traders may wish to Long at 1,875, Stop Loss slightly below initial support 1,865.
Abandon long view should market closed below strong support at 1,830.
2) Short Traders hold your breath and spot the V should the market reverse at 1920 - 1940 next week.

Choose to focus

• Is there something that frustrates you? Don't focus on the frustration, but rather on the opportunity for improvement.
• Is there something that makes you angry? Instead of being consumed with anger, consider the opportunities for understanding.
• Is there something that frightens you? Don't focus on the fear, but rather on the opportunity to better prepare yourself.
• Is there something that makes you sad? Rather than focusing on the sadness, be thankful for the fact that you care so much.
• Is there something that makes you anxious? Don't focus on the anxiety, but rather on the positive purpose you wish to achieve.

No matter what happens, you are always free to choose where to focus.
Choose to focus on the positive, and you'll be choosing to bring great value to life.

-- Ralph Marston

Read more: http://greatday.com/#ixzz0vyQis16n

Bank Holidays~

Many many Asia holiday in the coming weeks, Markets, banks, businesses and government offices close.

-----August 2010---------

Monday, August 9
Singapore National Day

            
Wednesday, August 11
Australia Royal Queensland Show Day (Brisbane only)


Thursday, August 12
Thailand Queen''s Birthday


Friday, August 13
Thailand Special Holiday



Tuesday, August 17
Indonesia Independence Day


Thursday, August 19
India Parsi New Year * Banks close.



Monday, August 23
Philippines Benigno Aquino Death Anniversary (substitute for Aug 21)

Monday, August 30
Philippines National Heroes Day
U.K. Summer Bank Holiday

Tuesday, August 31
Malaysia National Day

-----September 2010---------

Thursday, September 2
India Janmashtami * Government offices close.

Vietnam National Day

Monday, September 6
U.S. Labour Day

Wednesday, September 8
Indonesia Trading Holiday * Stock market close.


Thursday, September 9
Indonesia Ied-ul-Fitr

Friday, September 10
Malaysia Hari Raya Puasa
Singapore Hari Raya Puasa
Indonesia Ied-ul-Fitr Shawwal
India Ramzan Id Hari Raya Puasa * Markets, banks and businesses close.


Monday, September 13
Indonesia Ied-ul-Fitr Shawwal

Tuesday, September 14
Indonesia Trading Holiday * Stock market close.

Monday, September 20
Japan Respect-for-the-Aged Day

Tuesday, September 21
South Korea Chusok Holiday

Wednesday, September 22
China Mid-Autumn Festival
South Korea Chusok Holiday
Taiwan Mid-Autumn Festival

Thursday, September 23
China Mid-Autumn Festival
Hong Kong Mid-Autumn Festival
Japan Autumn Equinox Day
South Korea Chusok Holiday

Friday, September 24
China Mid-Autumn Festival

Monday, September 27
Australia Queen''s Birthday (Perth only)

Source: Dow Jones Newswires, August 02, 2010 20:00 ET (00:00 GMT)

NFP News Release

Right after, right on the news release, market react!

Good that I have short Dow at 10645.
SL 10705,
TG 10400.

FX:
GBP/USD
breakout resistance of 1.5950, still being resisted at 1.6000.
formed a good reversal pattern in 30 Minutes.

EUR/USD
hit my target of 1.33, go to high 1.3333.
with a strong candlestick reversal pattern at this high, check 30 minutes chart.

KLCI and DJIA

KLCI

Formation of Inner wave (down) in 30 minutes chart, queue to sell at 1367.50, stop loss at 1371. TG 1357.

DJIA

Dow yesterday closed at 10,674.38 Futures down by -41 points, 10,586 now.

Good time to short yes, or yes?

Special Report on KLCI

Very bullish on KLCI, I am very excited that this round KLCI has failed the expectation and the up-move is limited to only 1370 region.

For those who are sharp, observe when KLCI rebound from the low 801 in Oct-2008, it would leap 200 points every 4 -5months, is the same gonna continue?
If that's gonna continue, by end of July, KLCI shall close at 1,500... The truth has been revealed with July closing KLCI 1360.

Combine with the expectation of the Dow fall, Higher possibility that KLCI correct, before he resume rally.

I would place my Short around 1360-1370.
1st Target 1345.
2nd Target 1335.
3rd Target 1305.

Hopefully today KLCI candle closed with a strong reversal signal.

Weekly Forecast

DJIA

Dow has formed a small bodied candle on weekly chart as well as day chart capped below 10,600 region.

Breaking above 10,600 will lead the market to next resistance 10,700,
we foresee that the market is not likely to break 10,600 unless some
strong fundamental news send another spike to it.

for those who are sharp, you will notice on day chart that Dow Jones Industrial Average is
actually forming a divergence awaiting breakout to the downside!

To play safe, traders should observe reversal between 10,500 - 10,600 for shorting opportunity, first target at 10,350.
Be cautious and at the same time don't miss the train to south once the market decline towards the weekend.

Nasdaq 100

Similar to Dow, Nasdaq 100 has formed small bodied candle on weekly chart. Notice the divergence on Day chart and pincers on 4Hour chart.
Prefer to observe good reversal at 1875-1900 area with our first target at 1,830.

Related: APSRI Forum
Related Topic: 
APSRI Forum : DJIA and Nasdaq 100 Index Trading
Related Post: 
APSRI Forum : DJIA and Nasdaq 100 Update for Mon 2 Aug 2010

Weekly Forecast

EUR/USD

Scenario 1:
If you are looking at EUR/USD in a uptrend, Later part of the week, if 1.2700-750 support hold, EUR/USD is going to continue its rally up to 1.33, coincide with EMA200.

Scenario 2:
If you are looking at EUR/USD in a downtrend, best shorting opportunity still lies at 1.33-1.35 region.

For a quick trade, I prefer to short EUR/USD on Monday or Tuesday around 1.3050-100, with stop loss placed slightly above Thursday High (1.3106).
Target exit at 1.2815.

If EUR/USD has break above 1.3150, I will sit back and wait till it reaches 1.33.