Hello and welcome to ThePipsMaker Diary on how I make my pips based on sound technical analysis (techies) and fundamental news (fundies).I intended to categorize this diary into three segments but on hindsight, that would pretty much clutter the page so I will dedicate each blog to these various segments
ThePipsMaker – my daily trading charts posted here with rationale and commentaries
IsTheDollarStillKing – an introduction and in-depth analysis on the USD
FxNewsOnline – all the fundies that are moving the market and which economic data to look out for
Nonetheless, I am very much a scalper so my trades don’t “last very long”. For example, I may just trade for the first five minutes when the London or NY session opens and then close for a small profit.
You may ask, “Why don’t you leave your trade open even when the momentum seems like it will go your way for more pips?” Well, different people trade different styles and I’m sure as I move along, I will be more confident to trade intraday. That will be my ultimate aim – trade less and make more pips.
Be good at what you are doing and then get better.
The pair that I will be focusing on is the Eurusd. However, if I do see opportunities in other major pairs, I’ll jump ship. I’m refraining from the Pound though as it has proven itself to be a nasty beast. Having said, I will ride the pound when I have higher fund liquidity.
Background-wise, I have a live account with IBFX and a demo account with Meta4. I have a list of indicators to help me in my trading but my catalyst is the Japanese candlestick. As I move along, my reliance on certain indicators will differ but I will keep you guys updated on the latest happenings.
I’ll be trading full time w.e.f 15 September 2008 (may be sitting on the sidelines for the first week) so now may be a lull period for this blog as I tie some loose ends on my side of reality.
I’ll be setting up another site very soon which will give you a basic understanding of forex.
Till then, make the pips be with you and us all.
