Hi All,
Please read fully. I have been running my signal service and managed accounts service for a few months now. Initially, it was restricted to my friends alone but last few weeks, i have opened it out to new people who are interested in this. Along with this new set of people has arrived a new set of problems. With my friends, it was easy that all i had to do was give them signals and since they already have an idea of the basics of forex, how it works and all that.
But with this new set of people, i have got subscribers who dont even know the basics of forex. My signals are 85% accurate and with this kind of accuracy, it should be possible to make atleast a decent amount of money. Some of my subscribers dont know anything about forex and all that they know is to click a few buttons here and there. And also, since i give signals all through the day and give close to 8-9 signals minimum per day (unlike others who give only 2-3 signals), they need to be online and they need to understand forex, entry, exit, lots, money management etc to make full use of the signals.
Some of my subscribers come online only for a few mins a day and they expect to generate millions just by clicking some buttons without knowing the basics of it. This is a sure way to disaster. That set me thinking and with that is this proposal.
I am launching an online forex training course. It would cover all the basics of forex, when to enter, when to exit, indicators, money management, fibos, development of systems and all that associated with forex. Each person who joins would get my personal attention and it wont be a generalised class as i understand that the needs of each one is different. The course would be of 30 hrs duration and it can be done online thru messenger, skype, videos etc. The course would also involve explanation of charts and all that. This course would prepare you for all that is connected with forex. I hope to complete the 30 hrs of classes in 2 weeks time and after that, for 2 months i would support with all the answers to all your questions, trades, doubts etc. I would start this course only if atleast 10 people join. The course fees is $200. Those who are interested can mail me at kartram.77@gmail.com.
Happy Trading!!!
Friday, July 27, 2007
Fantastic couple of days for Trading
Hi All,
Fantastic 2 days for trading. Huge falls and rises as well in all the crosses providing huge and perfect opportunities to make tons of pips. The crosses swung wildly in the downward direction with the GJ losing 400 pips each day. But the great things about this was the way it moved.
The idea is always to trade with the trend whether it is up or down. This two days it was very clear that the trend was down. What made it easier to trade was the fact that the S and R were also respected in the way we expected them to be. This was true of all crosses. They did fall but they also did stop at important supports and rose again until the next resistance and then they resumed their fall.
In such cases, it is very easy to trade as all you had to do ws wait for the price to hit the support, go long till the next resistance and when the resistance is hit, close the long and go short again. All this could be done with very small SL which makes all of these trades extra special and we could alternate between longs and shorts.
Last two days, more than 600 pips were made by us just by following the above procedure for all JPY crosses (usd,eur,gbp,nzd,aud,cad) and also gbpusd and gbpchf. Of course, those who could not get it right would have been in serious trouble over the past couple of days due to the huge volatility but those who knew what to do, would have done very well.
Anyway, lets all take a rest now and i plan to make a small announcement over the weekend. For now, lets take our pips home and get some good rest.
Happy Trading!!!
Fantastic 2 days for trading. Huge falls and rises as well in all the crosses providing huge and perfect opportunities to make tons of pips. The crosses swung wildly in the downward direction with the GJ losing 400 pips each day. But the great things about this was the way it moved.
The idea is always to trade with the trend whether it is up or down. This two days it was very clear that the trend was down. What made it easier to trade was the fact that the S and R were also respected in the way we expected them to be. This was true of all crosses. They did fall but they also did stop at important supports and rose again until the next resistance and then they resumed their fall.
In such cases, it is very easy to trade as all you had to do ws wait for the price to hit the support, go long till the next resistance and when the resistance is hit, close the long and go short again. All this could be done with very small SL which makes all of these trades extra special and we could alternate between longs and shorts.
Last two days, more than 600 pips were made by us just by following the above procedure for all JPY crosses (usd,eur,gbp,nzd,aud,cad) and also gbpusd and gbpchf. Of course, those who could not get it right would have been in serious trouble over the past couple of days due to the huge volatility but those who knew what to do, would have done very well.
Anyway, lets all take a rest now and i plan to make a small announcement over the weekend. For now, lets take our pips home and get some good rest.
Happy Trading!!!
Thursday, July 26, 2007
Supports and Resistances for July 27, 2007
Hi all,
Well, guys, as all of you would have seen, the crosses were routed yesterday. GJ dropped 400 pips on a signale day which is something that does not happen everyday. The traders seem to be risk averse now and they have started moving on to safer investments like bonds etc. They need money to invest in these and so they are selling off their holdings in currencies and investing them in the bonds and hence the correction. As usual, the crooses end the day near some strong support, something which they have been doing for the past 4 days and it is anybody's guess which direction they would go today. As for tose people who now claim that they 'told you so', i would like to say that if you keep saying the same thing every 2 days, obviously, one of these days, you are going to get it right. Anyway, lets see how the market reacts. I would advise people to be careful knowing that these crosses are beasts, Know the S and R well and play within these S and R. If you try to outgues the market, we all know what it can do to us. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 118.75. If that is broken, next support is at 118.34 which is a very strong support and the final major support is at 117.90. On the topside, the resistance is at 119.53 and then at 120.31.
EURJPY - Important support at 163.37. If that is broken, next support is at 162.49 and the final major support is at 162.05. On the topside, the resistance is at 164.05 and then at 164.62.
GBPJPY - Important support at 243.62. If that is broken, next support is at 242.97 and the final major support is at 242.20. On the topside, the resistance is at 245.28 and then a major resistance at 246.05.
Happy Trading!!!
Well, guys, as all of you would have seen, the crosses were routed yesterday. GJ dropped 400 pips on a signale day which is something that does not happen everyday. The traders seem to be risk averse now and they have started moving on to safer investments like bonds etc. They need money to invest in these and so they are selling off their holdings in currencies and investing them in the bonds and hence the correction. As usual, the crooses end the day near some strong support, something which they have been doing for the past 4 days and it is anybody's guess which direction they would go today. As for tose people who now claim that they 'told you so', i would like to say that if you keep saying the same thing every 2 days, obviously, one of these days, you are going to get it right. Anyway, lets see how the market reacts. I would advise people to be careful knowing that these crosses are beasts, Know the S and R well and play within these S and R. If you try to outgues the market, we all know what it can do to us. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 118.75. If that is broken, next support is at 118.34 which is a very strong support and the final major support is at 117.90. On the topside, the resistance is at 119.53 and then at 120.31.
EURJPY - Important support at 163.37. If that is broken, next support is at 162.49 and the final major support is at 162.05. On the topside, the resistance is at 164.05 and then at 164.62.
GBPJPY - Important support at 243.62. If that is broken, next support is at 242.97 and the final major support is at 242.20. On the topside, the resistance is at 245.28 and then a major resistance at 246.05.
Happy Trading!!!
Wednesday, July 25, 2007
Supports and Resistances for July 26, 2007
Hi all,
So another day and as predicted the USD continues to consolidate and gain in strength a bit while the other majors begin to lose out. GU looks very weak and as i keep repeating it every day for the past 3-4 days, i feel that the downtrend has started in it. Lets see how far it goes. As for the crosses, as the UJ gains strength, this will in turn try and push the crosses up. The fall in EU and GU will drag down the crosses but the rise in UJ will try to push the crosses up and in effect, there should be a slight rise in the crosses overall. But we need to be careful as we have seen in the last few days that the minute that we think that a support is going to hold and the rise is going to begin, the support is broken and the fall continues. So be careful and react and follow what the market does.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 120.30. If that is broken, next support is at 119.95 which is a very strong support and the final major support is at 119.75. On the topside, the resistance is at 121.09 and then at 121.50.
EURJPY - Important support at 164.83. If that is broken, next support is at 164.40 and the final major support is at 165.80. On the topside, the resistance is at 165.61 and then at 166.39.
GBPJPY - Important support at 247.25. If that is broken, next support is at 246.80 and the final major support is at 246.50. On the topside, the resistance is at 248.02 and then a major resistance at 248.42.
Happy Trading!!!
So another day and as predicted the USD continues to consolidate and gain in strength a bit while the other majors begin to lose out. GU looks very weak and as i keep repeating it every day for the past 3-4 days, i feel that the downtrend has started in it. Lets see how far it goes. As for the crosses, as the UJ gains strength, this will in turn try and push the crosses up. The fall in EU and GU will drag down the crosses but the rise in UJ will try to push the crosses up and in effect, there should be a slight rise in the crosses overall. But we need to be careful as we have seen in the last few days that the minute that we think that a support is going to hold and the rise is going to begin, the support is broken and the fall continues. So be careful and react and follow what the market does.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 120.30. If that is broken, next support is at 119.95 which is a very strong support and the final major support is at 119.75. On the topside, the resistance is at 121.09 and then at 121.50.
EURJPY - Important support at 164.83. If that is broken, next support is at 164.40 and the final major support is at 165.80. On the topside, the resistance is at 165.61 and then at 166.39.
GBPJPY - Important support at 247.25. If that is broken, next support is at 246.80 and the final major support is at 246.50. On the topside, the resistance is at 248.02 and then a major resistance at 248.42.
Happy Trading!!!
And we are back!!
Hi All,
Today, my internet connection went down and it took me few hours to get that fixed. That was the reason that i could not update the blog today. Normal service would resume from tomorrow. But normal service in the crosses does not seem to be anywhere closeby. The crosses seem to be getting hit a lot over the past couple of days and all attempts at recovery seem to be futile.
This is something new to the crosses as far as the last few months are concerned. The crosses have always bounced back from a correction within a couple of days but this correction in the crosses seem to be going on for about a week with no sign of turning back.
This has raised my concern on wheher this could turn into a much deeper correction than initially anticipated. The GJ has already fallen 400 pips in less than a week and we have to see whether atleast now, it is able to find some solid support. Everytime it starts to hover around a support, people try to get in thinking that it would be a solid support from where the rise would begin but in the end, that support is broken as well and this has been the story for about 4-5 days now.
As for the GU, as updated in this blog a couple of days ago, it seems to have reached a top and the news from the following weeks would show the adverse effects of the weakening dollar on the economies of the important countries of this world and this would lead to weakening of the other currencies and hence strengthening of the USD. This would be seen only in the coming 2-3 weeks and hence i feel that the GU would drop further in the next 2-3 weeks. The weakening has already started with the stalling at around 2.0650 and the drop from there. Lets see how the market pans out.
Happy Trading!!!
Today, my internet connection went down and it took me few hours to get that fixed. That was the reason that i could not update the blog today. Normal service would resume from tomorrow. But normal service in the crosses does not seem to be anywhere closeby. The crosses seem to be getting hit a lot over the past couple of days and all attempts at recovery seem to be futile.
This is something new to the crosses as far as the last few months are concerned. The crosses have always bounced back from a correction within a couple of days but this correction in the crosses seem to be going on for about a week with no sign of turning back.
This has raised my concern on wheher this could turn into a much deeper correction than initially anticipated. The GJ has already fallen 400 pips in less than a week and we have to see whether atleast now, it is able to find some solid support. Everytime it starts to hover around a support, people try to get in thinking that it would be a solid support from where the rise would begin but in the end, that support is broken as well and this has been the story for about 4-5 days now.
As for the GU, as updated in this blog a couple of days ago, it seems to have reached a top and the news from the following weeks would show the adverse effects of the weakening dollar on the economies of the important countries of this world and this would lead to weakening of the other currencies and hence strengthening of the USD. This would be seen only in the coming 2-3 weeks and hence i feel that the GU would drop further in the next 2-3 weeks. The weakening has already started with the stalling at around 2.0650 and the drop from there. Lets see how the market pans out.
Happy Trading!!!
Monday, July 23, 2007
Support and Resistance on July 24, 2007
Hi all,
The crosses continue to swing wildly today as well but they are giving me more and more concern with each passing day. The crosses are like beasts and they are known to rise and fall like beasts. But usually, when they fall on a day, they recover quick and fast the next day itself and they continue on their upward journey. But they fell on Friday, receovered very slowly and only 50% of it yesterday and they fell again which is something that i have not seen in the crosses for quite sometime. The recovery has been slow and painful and they fall has been quite swift. Once again, the trigger has been the UJ and the USD looks very weak. I look around and dont find any data to push the crosses back to where they should be. So it does concern me a lot. Lets see how the markets react though.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 120.70. If that is broken, next support is at 120.45 which is a very strong support and the final major support is at 120.10. On the topside, the resistance is at 121.09 and then at 121.50.
EURJPY - Important support at 166.78. If that is broken, next support is at 166.40 and the final major support is at 166.40. On the topside, the resistance is at 167.90 and then at 165.60.
GBPJPY - Important support at 248.73. If that is broken, next support is at 248.54 and the final major support is at 248.01. On the topside, the resistance is at 249.02 and then a major resistance at 249.68.
Happy Trading!!!
The crosses continue to swing wildly today as well but they are giving me more and more concern with each passing day. The crosses are like beasts and they are known to rise and fall like beasts. But usually, when they fall on a day, they recover quick and fast the next day itself and they continue on their upward journey. But they fell on Friday, receovered very slowly and only 50% of it yesterday and they fell again which is something that i have not seen in the crosses for quite sometime. The recovery has been slow and painful and they fall has been quite swift. Once again, the trigger has been the UJ and the USD looks very weak. I look around and dont find any data to push the crosses back to where they should be. So it does concern me a lot. Lets see how the markets react though.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 120.70. If that is broken, next support is at 120.45 which is a very strong support and the final major support is at 120.10. On the topside, the resistance is at 121.09 and then at 121.50.
EURJPY - Important support at 166.78. If that is broken, next support is at 166.40 and the final major support is at 166.40. On the topside, the resistance is at 167.90 and then at 165.60.
GBPJPY - Important support at 248.73. If that is broken, next support is at 248.54 and the final major support is at 248.01. On the topside, the resistance is at 249.02 and then a major resistance at 249.68.
Happy Trading!!!
Market commentary....
Hi All,
Very difficult day to trade today it was. Overall the direction was in favor of the longs as had been predicted in this blog but it was a yo-yo kind of day with the price moving up and down a lot. This was true not only with the major crosses but with the other crosses as well.
There was a very slow and steady upward movement which is atypical of the yen crosses which are known to rise and fall in a heap. This shows that the market is not yet decided on what to do and the market is still not decided on which is the right direction to go in. Not much data was released today and this was an added reason why there was no major movement today in any direction. Not much data is to be released tomorrow as well and so we could expect similar movement tomorrow as well.
To me, the direction to go is still in favor of the longs and this week should be interesting as the market does not know where to go. This makes trading that much more difficult and it would be well advised for the traders to be careful in their trades this week.
I somehow have a feeling that this would be the start of the correction in EU and GU which is long pending. I feel that some news to be released out of USA this week would be positive for it and would trigger the strength for the USD. This is just a gut feel rather than being based on any fundamentals or technicals. I feel that EU and GU have risen enough and the result of this huge rise and its adverse effect on the economy would be slowly reflected in the news which are to be released over the next 2 weeks.
As always, trade carefully with good, well thought out stop losses and take profits.
Happy Trading!!!
Very difficult day to trade today it was. Overall the direction was in favor of the longs as had been predicted in this blog but it was a yo-yo kind of day with the price moving up and down a lot. This was true not only with the major crosses but with the other crosses as well.
There was a very slow and steady upward movement which is atypical of the yen crosses which are known to rise and fall in a heap. This shows that the market is not yet decided on what to do and the market is still not decided on which is the right direction to go in. Not much data was released today and this was an added reason why there was no major movement today in any direction. Not much data is to be released tomorrow as well and so we could expect similar movement tomorrow as well.
To me, the direction to go is still in favor of the longs and this week should be interesting as the market does not know where to go. This makes trading that much more difficult and it would be well advised for the traders to be careful in their trades this week.
I somehow have a feeling that this would be the start of the correction in EU and GU which is long pending. I feel that some news to be released out of USA this week would be positive for it and would trigger the strength for the USD. This is just a gut feel rather than being based on any fundamentals or technicals. I feel that EU and GU have risen enough and the result of this huge rise and its adverse effect on the economy would be slowly reflected in the news which are to be released over the next 2 weeks.
As always, trade carefully with good, well thought out stop losses and take profits.
Happy Trading!!!
Sunday, July 22, 2007
Supports and Resistances for July 23, 2007
Hi all,
The crosses are swinging wildly as of this writing but they still seem to be holding on to their supports for dear life and they show good bounces from their support. Lets see how long they do so. There is not much news to be released today and so the market would have to decide its own course rather than depend on the news to drive it.Lets see how the market pans out. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 120.88. If that is broken, next support is at 120.70 which is a very strong support and the final major support is at 120.45. On the topside, the resistance is at 121.50 and then at 121.88.
EURJPY - Important support at 167.18. If that is broken, next support is at 166.78 and the final major support is at 166.40. On the topside, the resistance is at 167.90 and then at 168.35.
GBPJPY - Important support at 248.73. If that is broken, next support is at 248.54 and the final major support is at 248.01. On the topside, the resistance is at 249.02 and then a major resistance at 249.68.
Happy Trading!!!
The crosses are swinging wildly as of this writing but they still seem to be holding on to their supports for dear life and they show good bounces from their support. Lets see how long they do so. There is not much news to be released today and so the market would have to decide its own course rather than depend on the news to drive it.Lets see how the market pans out. Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 120.88. If that is broken, next support is at 120.70 which is a very strong support and the final major support is at 120.45. On the topside, the resistance is at 121.50 and then at 121.88.
EURJPY - Important support at 167.18. If that is broken, next support is at 166.78 and the final major support is at 166.40. On the topside, the resistance is at 167.90 and then at 168.35.
GBPJPY - Important support at 248.73. If that is broken, next support is at 248.54 and the final major support is at 248.01. On the topside, the resistance is at 249.02 and then a major resistance at 249.68.
Happy Trading!!!
The Week Ahead...
Hi All,
So what does the week ahead hold for us. The huge swings on Friday should make the trading for the Monday very interesting as everyone would feel that that would set the tone for the rest of the week. As said and shown clearly in this blog, the crosses have bounced from their fibos and it would be very important to see whether the bounce holds on Monday. The first few hours should tell us whether the bounce would hold or not.
I personally feel that the bounce should hold and the fibos below should act as good supports. But some of the crosses have their next fibo resistances just above the current prices that they are in and so it remains to be seen how soon (and whether) the resistances would be broken. If these resistances are indeed broken, we should be on our next leg up.
I believe that the crash which we saw on Friday was merely a retracement and nervous traders selling off whatever they were holding. The first sign of sure strength would make these traders come running back. But as always, there must be a trigger which should show this sure strength and convince the traders to come back.
All in all, a very interesting week ahead, a week where i still feel that the longs in the crosses would be favored.
Happy Trading!!!
So what does the week ahead hold for us. The huge swings on Friday should make the trading for the Monday very interesting as everyone would feel that that would set the tone for the rest of the week. As said and shown clearly in this blog, the crosses have bounced from their fibos and it would be very important to see whether the bounce holds on Monday. The first few hours should tell us whether the bounce would hold or not.
I personally feel that the bounce should hold and the fibos below should act as good supports. But some of the crosses have their next fibo resistances just above the current prices that they are in and so it remains to be seen how soon (and whether) the resistances would be broken. If these resistances are indeed broken, we should be on our next leg up.
I believe that the crash which we saw on Friday was merely a retracement and nervous traders selling off whatever they were holding. The first sign of sure strength would make these traders come running back. But as always, there must be a trigger which should show this sure strength and convince the traders to come back.
All in all, a very interesting week ahead, a week where i still feel that the longs in the crosses would be favored.
Happy Trading!!!
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