i_am_siew

i_am_siew

Folks, It has been a busy time. It seems FEAR had taken hold and GREED had to take a back seat for the time being. Russia announcement of mobilization moments before FOMC seems to have caused great anxiety. I failed to anticipate the speed of the fall in EURUSD. As we all know now, the 'increase' in the 09/2022 dot plot is 'smaller' at 1.00%. Market is...

i_am_siew

Folks, looks like BOJ is taking action to stop JPY from further depreciation. They have said that 145.00 is the level to watch. Since this morning, they looked like they had intervened twice after BOJ maintained their rate @ -0.10%. A lot of BUYERS are getting burned. It seems that this is also affecting EURUSD as well. Perhaps this is coordinated? USA may be...

i_am_siew

All of us came into this business only learning how to SPOT opportunities using various tools of the trade. We eagerly try to make money so hard that we do not know that this business is quite dangerous. That is why 80% more lose money. I think I have wise up. Have you? I thinks we should always to be on a lookout for TRAPs FIRST and OPPORTUNITIES SECOND....

i_am_siew Updated 

People use to ask what is the most important thing to LEARN when it comes to trading. I think the answer is simple - PATIENCE. Simple as it may sound but most people lose money because they lack it. If you trade on a DAILY basis, I can only wish you good luck. If you trade a few times a week, that would also not be wise. If you trade once a month, then you are...

i_am_siew

Price has been rising as anticipated. Note that a classic Wyckoff reversal took place with a Spring. This means that the BIG players had unwind their shorts position and is now waiting for what the Fed might do next. A 75bps hike next week would not be a surprise. What is more important to note is the forward guidance as in the DOT PLOT for the 2022 and 2023. If...

i_am_siew

You know I only trade EURUSD. But there is this POT OF GOLD that I could not resist. Lets not miss this once in 20 years++ opportunity. I am just waiting for the time to SELL. So, when is the right time? If you have followed closely, you should know what to look for. Anyway, come back later. I will post something when I think it is time to SELL. Good luck.

i_am_siew

Soon after I wrote No.38, someone asked me a question. I know he was reading my Ideas for the first time and just bump out a simple question. But I think it was a very interesting question and in return, I gave him a very interesting answer. That answer is quite applicable to our situation now. Do have a look. The only obstacle to any trader is actually just ONE...

i_am_siew

Yesterdays Powell's speech at the JHS carries ONLY one message -> there is NO PIVOT anytime soon. The US02Y seems to agree and promptly move up. It is now hugging around 3.40% which was the Fed Projection for Current Year 2022 as per the 06/2022 Dot Plot. What we can see is that Market is still thinking and awaiting direction as to what it thinks the 09/2022 would...

i_am_siew

Folks, You would have all learned that trading is about looking/studying CHARTS. Then you are taught to use various ways of analyzing it. You use trend lines, thousands of indicators available, fake gurus predictions and bla bla bla. What you did not learn is to use your COMMON SENSE. This is always a problem until one day you wake up. But I know for a FACT that...

i_am_siew Updated 

Folks, Our only aim when we trade forex is to make money. To make money, we must WIN. The general guideline I have for myself is to have a win rate in excess of 80%. Always focus on this and you will do well. My current is 85%. As I had written in my previous posting, to have a higher win rate, you need to 1) focus on longer term, 2) use SL wisely and 3) just...

i_am_siew

Folks, Forex trading is not easy. When I first started, I tried the usual stuff like trend lines, indicators and EW - all of which I promptly discarded because my common sense tells me it won't work. Currently I am using VP together with Price Action. I know it works. That was when I first starting to contribute my ideas here back in 26 December 2021. Now, I can...

i_am_siew Updated 

Folks, This is how I am seeing things. Let me know if you have any suggestion/ideas. While price has visited and pass through the 1st Supply zone, it is still within the 2nd Supply zone. . We have had a lot of big announcements this week. As you can see, price has been moving horizontally since 18 July. A lot if activities undertaken by the institutional banks....

i_am_siew

Dear followers, From lesson 32 yesterday, we discuss that as far as EURUSD is concerned, SELLERS are currently in control. The million dollar question is, when will BUYERS be in control again? The answer is obviously knowing when the FED will pivot - stop raising rates!!! One of the clear indication when this might happen is by looking at the MARKET. The...

i_am_siew

Dear followers, Today we will talk about SL again. I am sure many of you would make use of it in your trades as exhorted by your GURUS. Or you may have learn to use it based on the lessons you had learned elsewhere. This game is about constantly finding what works and what doesn't. Instead of using SL, perhaps you should consider the fact the currently, SELLERS...

i_am_siew Updated 

Folks, It is a well known fact that as far as FOREX is concerned, the decision makers are the few BIG Institutional Banks. They are IN CHARGE. The recent FOMC announcement is quite straight forward. +75bps and more coming in 2022/2023. EURUSD will fall. That much is certain. But as you can see, it went up instead. If you look back, you can see this happens all...

i_am_siew

Greetings, I hope all is well for those who have been following closely. One of most important things that you might learn if you have been following closely is understanding HOW THIS GAME IS PLAYED. Once you understand why the price of GOLD is at where it is now despite many GURUS predicting that it will go sky high on account of 'HIGH INFLATION' , then you can...

i_am_siew Updated 

Hi there, Lets continue with 'subtle' changes in our trading behavior. This is important because trading is all about how we approach it. I am feeling good today. So I will tell you a 'SECRET'. If you have read my previous posting, you would have read that ALL of us who step into this world of forex trading are screwed unless we wise up and use our common...

i_am_siew

Folks, Now we are seeing price bumping along the lines as previously explained. Buyers had not fully taken control yet - quite nearly but not yet. This Thursday is ECB rates announcement but the bigger one should be the FED dot plot next Tuesday. When you start trading/gambling with Forex, it is quite important to take note of some already established FACTS from...