Market analysis, insights and trading ideas on various markets and products!

After 7 years and 7 cycles of Army training, my unit has finally completed (and “aced”) our unit combat readiness evaluation, and this will most probably my last ever outfield. Woohoo!

Having known my comrades (and good friends) for over 8 years, it is amazing how far we have all progressed in our lives and careers, and I am glad some of them have attended my training as well, allowing them to shake free of the traditional financial shackles.

It was a great experience serving the nation, and I would like to take the chance to share how I made use of the lull time outfield to make some spare cash. (Well, it is a good way to kill the boredom of waiting 😀 )

Switching to the 5-min forex charts, there were a couple of good trades throughout the day, which easily allowed me to make $700-1200 a day, and a grand total of $2087 over the 2D2N outfield exercise. Amazingly, the internet connection was pretty decent, and there was no significant lag in my charts.

“Simplicity is the ultimate sophistication.” – Leonardo DaVinci

It may sound pretty far-fetched, but seeing is believing, for those who were with me outfield. With the right skills, even a simple iPhone is more powerful than all the softwares, indicators, and sophisticated trading platforms.

I look forward to completing my last 3 cycles with my comrades, but I know that our friendship and bonds will last a lifetime! Mortar Warriors! 🙂

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This is the first time I made a trade while cycling, and although I made a profitable trade, I would advise against anyone trying it because I almost crashed into a tree during the 15 seconds I was cashing in on my profits. :p

And that was the last time I looked at my charts, because although I “trade for a living”, trading should not be a major part of anyone’s life, as it is simply a means to generate income, but there are other more important things in life, such as friends and family.

The EUR/AUD might have another good breakout soon, and we should be ready to short again when that happens. I am also looking for bullish signs to accumulate more Gold.

After an intense 20km cycling trip with my friends, we ended the day off with a sumptuous meal, complete with desserts. 🙂 Always remember to celebrate the small victories! Cheers!

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After I posted about my Gold trade I did while watching “The Amazing Spiderman 2” movie, I got a message from a potential student, who was planning to use the profits from this trade to attend my next course.
https://synapsetrading.com/forex-gold-trading-nfp-night-amazing-spiderman/

Thanks for your vote of confidence, and I hope to see you in the next intake! Good luck!

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On the Friday NFP night, I was invited by Lim & Tan to their special movie screening event, “The Amazing Spiderman 2”. It was a awesome event with dinner, popcorn and drinks included, and I also met one of my students there!

Unfortunately, the NFP was right smack in the middle of the movie, which meant I could not trade it comfortably at home, but thankfully I managed to enter a quick trade on my phone. I took a major long position in Gold, and although the entry price wasn’t as precise as I wanted it, nevertheless it was still a winning trade, and I only missed 5 minutes of the movie. 🙂

Thanks once again to Lim & Tan for organising this event, and I look forward to the next NFP trading opportunity! Cheers!

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2014-05-03 04.55.02

Since the sell-down from the distribution supply zone, which was triggered by the 2B short I posted in the Synapse Network forum, price has been pushed down to the support zone, where the next likely behaviour is to accumulate. This has manifested in a long-tailed pin-bar, a result of professional stop-hunting. I am not too concerned about its exact shape or pattern, as the key idea here is the underlying psychology.

Having flushed out the weak holders, I have taken a long position to catch any upside swing to the targeted zone above. There will be FOMC and NFP later this week, so much volatility is expected. Trade with care, and trade with understanding. Good luck!

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