New sites for information and research (a must read web site if you are keen on doing well in your personal financial investments: Zealllc.com

15th October, 2005:Turned another leaf in my life since the last update. It seems that I am getting older and slightly wiser than my old self in this new year of my life. I have achieved two 500 pips weeks in the past 3 weeks, which is not bad at all. My target at the moment is to achieve 500 pips a week and then perhaps aim for more later on. My daily highest achievement so far is 263 pips. Now enough for that eulogoy for myself.

Last Friday, we may have turned an important leaf in the currency market as well. The break of $1.2050 and $1.7580 for euro and sterling may be more significant than we thought for now. If I really stick my neck out, I would say it might just be the turning point for another bull run for the other majors against the dollars, all the way to the end of the year, with targets of $1.3500 and $1.8800 both possibilities for euro and sterling. However, the market always preys on people's perceptions, there are some who are predicting a horrendous fall for euro to reach $1.1200 as well. A failure to break $1.2200 this time would be a very worrying and warning signal for my bullish predictions. But, oh well, sometimes you have got to be stubborn for once in your life. I am game for this bullish scenario from now on. Good luck.

17th September, 2005:Happy Moon Festival tomorrow to you all. We are going to have FOMC next week. With the German election result out this Sunday night, I guess there is going to be quite a bit of excitement in the market, initially.

For the coming week, a test of $1.2330 is vital to all the other majors against the dollar. If it does break it on Sunday night, it is less likely that Euro will fall through $1.2200 vital support this time, so there will be more upside from there, despite the possible initial hesitation before Tuesday. Sterling does look more bullish to me. If I stick my neck out, I'd say the likely weekly range for Euro may be $1.2360-$1.2200 and $1.8330 to $1.8050/00 for sterling. Good luck.

15th September, 2005: Had a good day, but finished with sour positioning, because of over greed. For today, the overnight fall was more than expected. I thought the fall may come on Friday, but it has come already. I think there may be another test of $1.8280 on the card, but don't know where it would come from, $1.8160/50 or $1.8100 or $1.8050/30. But I will be buying at these levels. If before 8am this morning, sterling has not fallen under $1.8160/50, then there is a good chance for it to reach somewhere near $1.8280 before mid-day. As long as it stays above $1.8000, sterling is still in a rising trend, I think. Good luck.

14th September, 2005: No more selling for now. Sterling and euro may have achieved this week's low for now. Today, sterling may go as high as just under $1.8400 and the overall corrective high may be just under $1.8430, which may happen next week and then it may fall to $1.8100 or $1.8000 next week.

I will be buying on dips, but on this Friday, it may drop big again to test $1.8180/$1.8200 (When euro breaks down through $1.2250, all buys of other majors are off!!) Good luck.

13th September, 2005: The weekly trend is still downwards for sterling and euro. However, for today, there may be consolidation from yesterday's big falls, with possible range trading. For Euro, a test of $1.2350 may be on the card, before more testing of $1.2250 level support; for Sterling, a test of $1.8260/80 may be on the card, before more testing of $1.8200 level, and possibly breaking it to reach a weekly target of $1.8100 or $1.8000. There are a lot of data out of the US today, so the market may yoyo up and down. Good luck.

12th September, 2005: Euro looks increasingly bearish, with the support at $1.2330 broken over night. I think it is very likely that a test of bullish trend channel support at $1.2250/00 will be forthcoming this week. If this later very important support is broken, then the whole bullish trend is dead, we may be headed into a period of flat consolidation between $1.2100/0000 and $1.2500/?.2600.

10th September, 2005: General outlook: The other majors are in a bullish trend against the dollar. Euro has built up a bullish channel with 3 resistance and 3 support points already, which says that it is quite a strong trend. Having failed to break $1.2588 resistance, now it is likely to test either the moving average support at $1.2330 or trend support point at $1.2250, which seems to be more likely. But the market always gives you surprises. The next resistance may be close to $1.2660 and $1.2700 for euro. For sterling, its bullish trend is more fragile with only two supports and two resistance so far. Having failed to break higher of $1.8500, it is likely to test $1.8140 moving average support or trend support between $1.8000 and $1.8100. So all in all, next week should be quite interesting, with more pressure downwards for euro and sterling.

Weekly outlook: Euro: 4-hour chart displays a bearish trending channel at an angle of -45 degrees, which is a strong trend. This indicates the following two possible weekly ranges: Bearish--$1.2565 to $1.2330 and Bullish--$1.2380 to $1.2660.

For Sterling, 4 hour chart also displays a bearish trending channel at -15 degrees which is not a strong trend. This indicates two possible weekly scenarios: Bearish: $1.8410 to $1.8180/60; Bullish: $1.8380 to $1.8620/40. Good luck.

2nd September, 2005: my birth month again. For next week, 5th-9th September, if the euro is not over $1.2640, and the weekly range is less than 200 pips, then for the week of 12th-16th September, Euro will drop big.

For sterling, next week’s possible range if $1.8290 and $1.8480.

30th July, 2005: Something is not quite right about my forex trading, namely it is becoming a bit monotonous, because I am applying the same pressure all the time, which must be wrong. There is no breakthrough for me at all. But it does feels like last year, the pressure is gradually building on the dollar. One day it will explode and all us bears will be happy again. For now, I think it will go up as long as it stays above $1.7500/$1.7460 max and it may top around $1.7700 for a few days, befor a big drop on Friday for the non-farm payroll number from the US and continue to drop big on Monday, to test $1.7270 again. It is going to feel rather scary, but I think that will be a quick jab down and then we would have seen the worst of the dollar bulls for this year, I hope.

26th July, 2005: Obviously, I am still suffering with the rest of dollar bear gang. But the point is that they have enjoyed the heyday for the past few years, I have not! It sucks to be on the wrong side all the time.

5th July, 2005: I am suffering with the rest of the dollar bears such as Warren Buffet, George Soros and Bill Gates, as the dollar rallie to no end. I wish their wisdom will shine through in the longer run, though I do hope that horizon is not too far away. Until then, I have little to say but pray and nip a few pips here and there. Pathetic really, but that will just do for now.

20th June, 2005: I am hoping that the market has entered a period of range trading. For sterling, the range is probably between $1.8000/$1.7900 and $1.8400/$1.8500. I should be aiming to buy low and sell high within this range, until it is broken. Good luck.

10th June, 2005:I think the end of the dollar rally is comign soon, in this month probably. However, before we get too carried away, there may be one more dip to $1.8080 and if that stands, then we will see a rally for the other majors in the coming months. Good luck.

29th May, 2005:Not doing so well lately. Made two serious mistakes, and suffered a set back. In the market, big mistakes are out of two reasons only, greed or fear. Mine was due to latter this time. Well, I am trying to recover. I have been reading up on forex books. It seems that I have not managed to transform from boom and bust trader to consistent winning trader. But I will surly try. For the coming weeks, I guess it is a test of the bottom line at $1.2500. If that breaks convincingly, then all dollar shorts are off. Funnily, a long while ago I wrote on my calendar that euro will bottom up on 7/8th June. I wish I had followed my own prediction. Good luck every one.

3rd May, 2005: Is this going to be the turning point for the bull rally titled Stagflation whereby we will see a collapse of dollar to the end of this year and beyond? Or are we in for more Market Operators' tactical folly to fool the players into believing that the dollar is going to enter a new bull trend? At least, Warrent Buffet is not fooled by such tactics and he is staying put on his dollar shorts. I think we should do the same by building up dollar shorts on current weakness in other majors. After the interest rate decision tonight from FOMC, there will be a long break, which may just give the dollar bears enough time to reverse and start the new trend. However, the new born trend will always be started tentatively. So you have to make up your mind about the mighty dollar and do your trading accordingly. Good luck.

23rd April, 2005: How's things? Not so good. It has been the same story yet again this year. I am just very keen to make a break and make a difference this year. As soon as I get my nead above the water, a wave or two come to knock me down. The waves are actually made by myself, mistakes, out of fear or greed. For the coming week, I reckon it is a make or break week for the dollar. If euro can be kept under $1.3120, then there is a good chance that the dollar can rally for another few weeks to a high of $1.2500 against the dollar. But if euro breaches $1.3120, it may try to reach the high of $1.3420 again, before deciding where to go next. So watch this week very carefully and good luck.

3rd April, 2005: I think the dollar is in a middle of a big rally towards $1.2500 or $1.2000 for euro/dollar. The upside may be limited to $1.3080 or $1.3120 or at most $1.3170 for euro/dollar. Sell high and buy with great care, as this dollar rally is still quite young. I think the April highs for the other majors will be achieved between 11th and 15th April. From then on, the dollar may rally to a minimum of $1.2600 before more consolidations.

14th March, 2005: Maybe, the dollar will rally from $1.3480 level for the euro to somewhere near $1.3200, or more, this week, after an initial hesitation on the top. Are we in for a trend reversal this week, or are we in for more dollar weakness? My bet is on the former. Good luck.

7th March, 2005:Are we in for a major rally of the other majors again or not, having defied the non-farm payroll again last Friday? I think we should continue to be more concerned with downside, rather than upside for the moment. I will still be selling the euro this week and keep on selling until it drops from its lofty levels ($1.3200 and above). We will see $1.2900's again in the not too distant future, I believe. So a trading range for this week may be between $1.3340 and $1.2940 for euro/dollar. Good luck.

25th February, 2005:Make or break week next week for the dollar. My bet is that dollar still has some strength left in its tank. The range for euro/dollar may be between $1.3320 and $1.2920, closing around $1.3050. For conservative players, you should sit on your hands and just let the week fly by next week. For a gambler like me, I will be selling euro at its high near $1.3300, which I think it is going to be the best selling price for weeks to come. Good luck.

21st February, 2005:Not much to say, as much of what is going to happen this week depends on what happens today and probably tomorrow. If the euro does a healthy pullback to at least $1.2960, then it may rise to $1.3300. If it keeps on rising, then selling near $1.3200 should be profitable. I am waiting, so it seems, do all the other players, ha.

15th February, 2005:This might be one of the biggest week in this month, with Alan Greenspan making his key speech on Tuesday and Wednesday. I reckon that this is a three-wave fall for euro-dollar lasting at least three months, till March. For February, the range may be $1.2590/$1.2694 to $1.3184 for euro/dollar. I would say that it is essential not to buy euro/dollar above $1.2925 level. Still, selling at high is the preferred option as this is still the second wave of fall with a third wave to come, with a bottom somewhere below $1.2400 for euro/dollar. Good luck and you must trade with the big picture in mind, as this year is going to be highly volatile.

8th February, 2005: Happy Chinese New Year to you all. Make sure to eat some fish tomorrow, Chinese superstition has it that you should have some fish and leave some for the day after, which means that you will have plenty this year and more in the next.

Euro/dollar is going down the big way, having broken down the $1.2920 support, so it will find its next support, which might well be in the $1.2600s and there will be a new range for consolidation, which may be between $1.3040 to the new low, e.g., $1.2600 for the next four or five weeks, before a new direction can be found. My own view is that euro/dollar is going to weaken at least to $1.2300s, before a new uptrend can be re-established. Keep buying for the long term could be the useful strategy for now.

30th January, 2005: Happy New Year to all of you, as it is going to be Chinese New Year on 9th February. And this year is supposed to be the wooden green chicken year or Year of the Rooster.(Mind you, there is a horse running in the Champions Chase at the coming Cheltenham Festival, called Rooster Booster--do you get the drift?).

Anyway, last week's trading was as expected. Shame I did not take full advantage of it and only made 70 pips profit. Bad,really, as range-trading is possibly the best saviour to small private traders like me, ha. Anyway, as of Zealllc.com, this range-trading is going to continue, which is excellent news. For next week, we are facing a dilemma here, because we are closed by two good resistence at $1.3080 (daily moving average) and $1.2950 support (weekly moving average). Which one is stronger? Only time will tell. My own prediction is that it is going to be a big rallying week for euro/dollar, so the range may be between $1.3030 and $1.3340. But with the American interest rate decision on Wednesday and monthly payroll data on Friday, surely this can not happen, as the upperside for the euro seems to be limited until Friday. Does that mean we are in for a big Friday jump of, say 200 pips. That is going to be really exciting. Good luck.

22nd January, 2005: Well, really the certainty was to test on $1.2920 key support for euro/dollar and I am sure there will be at least one more test on that support. This is really important, because if it is broken, it means that this current dollar rally has legs and will probably go as low as $1.2560 or more. But if this key support holds, then there may be a possibility of creating new highs for euro-dollar after this consolidation period. For next week, the range might be between $1.3207 and $1.2920 for euro-dollar. You may sell near $1.3200 or buy near $1.2920. Range-bound trading is actually potentially more profitable trading time, as the risk is contained within a range. Good luck.

18th January, 2005:So I was told that there is going to be one last rally for euro-dollar to somewhere between $1.3170 and $1.3450. If you have any long orders, make sure you get out this time, as I was assured that after this mini-rally, the euro-dollar will go down a long way. If you are not keen in selling euro-dollar, then at least make sure that you don't buy at a top which will be ignored for months. Be warned and be alert. This is the week to open your eyes and watch the market closely. Good luck.

15th January, 2005: My computer has been down since Thursday night and it had caused me some problems. Like Livermore said, always expect the unexpected in this game. For the coming week, I think the euro-dollar range will be between $1.3300 and $1.2710 (maximum). It is nearing the make or break time for euro/dollar and don't expect it to shoot up just yet. It has to touch the daily m/a line around $1.2920 before it could tell us which way it is going. For now, it is safer to sell at high as the upside might be limited while the downside could be unknown. Good luck.

7th January, 2005: Feels really good about myself now, as I got this fall right, just a day before this quite big day.

For the coming week, I reckon the range might be $1.2942 to $1.3302 for euro/dollar, with a close for the week at $1.3025 again as of this week's low. The trend may still be downwards for euro/dollar, until it stabilises itself. The week after is really important. If euro/dollar does not make a fresh low then, it might mean that this current fall is only an intermediate top-down, so a rally to new highs are envisaged, for example, to $1.40 or more, as everybody seemed to be thinking a week ago, ha. But if euro/dollar makes a fresh low below $1.2942 (e.g., $1.2642), then it may mean a longer period of consolidation all the way to the end of April 2005, before an uptrend can be slowly engineered. Let's wait and see. Have fun and enjoy life.

6th January, 2005: The forecast this week has been fairly good so far. But tomorrow is the big job data day and anything like a 200 pips swing is possible. But which way is it going to be, up or down? I think this week's target is 1.3050 for euro/dollar. So if you see 1.3050, the bottom is near. If we close low tomorrow, the beginning of next week might see a marginal low around 1.3000 and then it will be bullish week for euro/dollar. It won't be one-way traffic this month, so either way you can make money. Good luck.

2nd January, 2005:Happy New Year to you all. What a year this is going to be?! As a perpetual optimist, I always look forward to the new year with a lot of hope and optimism. This is the year when I need to put the learning from 2004 to work. As for the currency market, it is easy to predict that euro/dollar may reach 1.40 dollars in the course of 2005. The key question is when. I think it might not be that straight forward, as otherwise the market makers will lose lots of money if everyone gets on this bull run. I reckon the current momentum will only carry the market to as high as 1.37 dollars for the euro and then there will be long periods of grilling for the dollar bears, until special events happen that trigger a surprise rally to 1.40 dollars. Well, this is only my guess and I have been wrong many times and I am still very new to this forex game.

For this first week in 2005, the lowest the euro could drop against the dollar is around 1.3268 dollars. But that is only statistically possible and it requires the euro to maintain a fall for the whole week, which is a bit difficult in the current climate. There are still people queuing up to sell the dollar and that might be the reason why the operators want to buy dollars on the contrary to the crowd, whereby they can make good money. Good luck. (Forgot to mention, the highest is possibly just below 1.37 dollars for the euro again.)

19th December, 2004: Went holidaying in Florida. The sunshine and kiddy fun do make a big difference. Came back last week and was not steeled enough to do any trading. Having studies the charts, I think there is a high probability that it is going to yo-yo between $1.2900 and $1.3500 for euro/dollar. So my strategy next week is to sell euro-dollar next week around $1.3400 and hold for $1.3000. Let's see how it works. Good luck and happy holidays, as they say in Florida.

30th November, 2004: Another month flew by. The last two leaves dropped off the Chestnut Tree in my garden this week. I think it must be a sign, ha, for a turning point in this current dollar weakness. Still, when a major bull run for the other majors come to an end, it will only come after a few weeks of yo-yos at these high levels, as history teaches us. So I am guessing that we will at least five more weeks of dollar weakness until 7th January 2005, before we will see a major dollar rally. Selling at the high end of the current high range would be more profitable, I guess. I think this yoyo range will be between $1.2800 and $.13370. So sell high and buy low for another five weeks would be my advice to you. Don't expect a big drop for euro/dollar because it won't happen yet. The hesitation needs to set in and the impatience and then the profit taking by traders who hold euro/dollar longs because from 14th December, they would be paying interests daily for their longs. Actually a disastrous month for me, this November, I hope I have learnt my lesson the hard way. If I survive this, I will survive anything. The short-term profits are always the temptations and the traps by operators and I fell for it the big way this time. Still, I am still very naive in this game with lots to learn yet. Good luck.

30th October, 2004: The last week of October has just gone by. How time flies. A good week for me with 120 pips in profit. Next week is perhaps the most difficult to forecast, given so much uncertainty surrounding the US election and non-farm payroll on Friday. Whatever happens, it won't be a dull week. But there are those who will be wise enough to stay aside for this highly volatile week.

If I have to forecast, then there are two possibilities: 1. Bullish: $1.2696-$1.3005 for euro/dollar; 2. bearish: $1.2384-$1.2800. It is quite simple to see which scenario we will be in. Just watch whether the ranges are broken on Monday to the up or down side. Good luck.

24th October 2004: There is always a time that a trend channel is broken, and when that happens, one should pay respect to the force behind it with no doubt in mind. It is also a common folly to suspect the new trend and hence suffer from the suspicion. However, when a trend channel goes towards vertical (parables), there is the distinct possibility that its destruction is already inbuilt.

For now, we have to admit to the fact that the other majors have reached a new trading range. I suspect it is $1.2460-$1.2860 to euro/dollar and $1.8020-$1.8460 for cable. Remember it is always the euro which decides the fate of sterling, so watch euro/dollar for direction. I believe in the coming week there is a possibility for cable to fall towards $1.8020 while euro/dollar might hold strong for a while near the top of the range. You may choose to buy cable when this anomaly happens or sell euro/dollar near the top of the range and hold patiently for teh eventual reversal. When the Americans raise their interest rate in November, there will be no interest rate differentials, so selling euro near high could work both ways. Good luck.

16th October, 2004: Another 90 pips. Not really sticking to my own predictions, which is really aweful. Could have been a lot better this week. Always pick up the sesame while losing hte big water melon. Shame on me and got to change from this week.

For this week, remember all my predictions are based on the current trend channel not being broken, which has been going on for quite a long while now. For euro-dollar: $1.2313-$1.2542 and for cable: $1.7778-$1.8121. The risk is always on a sudden reversal for a dollar bullish trend to start. Equally, at this moment, there is a possibility for the other majors to break out of this slow-going bullish trend channel into a more aggressive channel. Good luck.

10th October, 2004: Well, got very close to ranges and had a profitable week of 100 pips.

Now, it is getting more difficult, as the bullish trend channel for the other majors has been going on quite long now. The risk is always a significant trend reversal, with a break of $1.2270 or $1.2250 to be on the safe side for a start of dollar bull trend channel. However, personally, I feel it is more likely that there will be some fireworks coming the way of the other majors. I mean the other majors might be able to put in a big rally from here to test this year's highs.

For the coming week, the predictions are: $1.2270-$1.2486 for euro/dollar and $1.7763-$1.8047 for cable. Breach of $1.2486 for euro points to a major rally. Before that happens, we should keep our faith in the current channel. Always respect the current channel until it is broken, then serious studies are required. Good luck.

2nd October, 2004: How time flies. Soon, we will be saying 2005. Last week's forecasts were not as that good, though the tops were close again for the euro-dollar. The big risk these days is always to watch out for a trend reversal for a stronger dollar, as the bull run for euro and other majors have been going on for a while.

This week's forecasts before Friday's payroll numbers are: $1.2464/$1.2442 to $1.2253 for euro-dollar and $18137/18000 to $1.7743/30. My own strategy this week is to sell euro from highs, aiming for a bullish week for the dollar. Near the weekend, I will be looking to buy sterling if there is sufficient basing around the lows predicted for this week. The big event this week is the payroll number on Friday. It might be a make or break day again, with high volatility. A good number on Friday could push sterling to major lows, such as $1.7400 again. Do no trading on Friday if you can, before the numbers come out. Good luck.

25th September, 2004: Very very close again, only a few pips out from the top of the weekly euro-dollar range. Maybe I am getting better. Remember, this is still me very much in the learning mode. So always do your own research and make your own decisions. Next Week, there are two main possibilities: if the majors rise against the dollar on Monday, then the weekly ranges are as follows: euro-dollar: $1.2170--$1.2386 and cable: $1.7845--$1.8123. The most likely scenario here is a quick rise on Monday followed by four downwards yoyo days; if the majors fall against the dollar on Monday, the most likely scenario will be downward yoyos for a few days followed by rises near weekend. The ranges might be: euro-dollar: $1.2170--$1.2491 and cable: $1.7845--$1.8281. The main danger from here on is to watch for possible trend reversal moves by the dollar gaining strength, as the uptrend for the other majors has been going on for some time. Good luck.

Well, very close with the bottom range forecast again, just 20 pips out for both currencies. This is encouraging. This week, my forecast is $1.2067 to $1.2357 for euro/dollar and $1.7759 to $18194 for cable.

11th September, 2004: Peace to all those who lost their innocent lives three years ago in this current 3rd-World War. God bless their souls and their beloved ones and let's find a solution to this WWIII soon.

My prediction for next week's forex major trading range: $1.2130-$1.2393 for euro/dollar and $1.7754-$1.8151 for cable. Last week, my predictions were almost right up till Friday's sudden jump for all the majors against the dollar. Good luck.


4th September, 2004: Next week, my prediction for the trading range for euro-dollar rate is a yoyo market condition between 1.2040 and 1.2200. Obvioulsy, if either limit is broken, we need to study further. I think I am getting slightly better at this forex game. Still much more to learn. (The indicated cable trading range might be 1.7730-1.7930.) If it turns out to be this kind of yoyo market condition, it would be perfect for momentum trading, buying low and selling high within the boundaries. Upon my reading of the charts, the euro should rise gradually on higher lows over the coming week, which should point to a further uprising trend in the weeks to come. It will be a gradual process.

23rd August, 2004: Still struggling with my learning of this forex game. Lessons are being learnt everyday and mistakes are still made everyday. It all comes back to some age-old wisdom, which everybody in the trade knows, but I have to learn it the hard way. I am just like that, never taking the easy option. Learning from theory is great,but very difficult. While I am long on sterling, it has fallen off and lost some of its shines at the moment. Endurance, that is the only option after mistakes. Good luck.

16th May, 2004: What a week: $1.7859 to $17482 for the pound. The range is going downwards. There are two possibilities from here. One is a surprise move this week to $18000 at least and $1.8146 at most, or a brief attempt at $1.7850 and tries to go lower still. The market operators tend to surprise traders so that they can make more money. I reckon they have trapped some shorter sellings below $1.7600. If they push the market upwards for a few days this week, some traders will panic or be impatient enough to cut loss on their shorts, which means to give money to the market makers. I think it is best to keep an open mind, even though I am currently long on sterling in my holding positions. I hope Warren Buffet's wisdom will shine through eventually.

8th May, 2004: This week's trading range is between $1.8031 and $1.7689 for GBP/dollar, a relative quiet week for the forex market. I had a good profitable one, which is nice. Still a lot to learn and pick up. I think three things are emerging as front runners for successful forex trading: patience, determination (guts) and stop-loss/limited-loss locking trading discipline. It really takes a lot of tenacity to succeed in this highly fluid market.

For the coming week, I think there is a tremendous presumption for downward movements for other majors like sterling against the dollar. But one never knows whether the operators will make some surprise moves to confuse the traders. Always keep an open mind, which is the key. On the interesting side, Warren Buffet is still betting on a weak dollar for the medium term.

28th April, 2004: Quiet day in the forex market, yoyoing between $1.7840 and $1.7970 (or rather 1.7870 to be more exact). I don't really understand how we wake up in the morning. This morning, I was just a few minutes too late to sell at $1.7970 for gbp/dollar pair. Then, I almost always hesitated to take action on second best prices, which were available when I saw it, around $1.7930. From there on, it was all the way down, until it met support at $1.7850ish. In a narrow range, it was difficult to nick any pips, so had to endure the waiting and suffered from it, ha. The trend seemed to be downwards, though the market is still exhibiting some hesitation. I think it is the operators (forex bookies) to portray such a lack of momentum before an avalanche again later in the week. It has been a quiet week for me and I am still suffering from a mistake made on Monday. Mistakes, I always wish to go through a day or a week without any mistakes, and yet it has been hard.

16th April, 2004: Still, haven't made real progress in this new frontier yet. I am picking up things quickly and the market moves even faster. Next week, we should see some rebounce in the other majors agains the dollar. Events in Iraq over the weekend may provide some impetus for that. Take care.

3rd April, 2004: I am gradually coming to terms with this highly volatile market. It happened to me before when I set my foot in the stock market, so I am confident that I will be making the expected progress from now on. Still, it is a highly sharp learning curve with huge potential costs. The one thing that I learnt so far is always to be responsible for one's decision while the market never stops moving on, one way or another. I would expect this month the forex market will be more volatile than March, so plenty of challenges ahead. Good luck.

13th March, 2004: It is such a volatile market, and surely there are lots of money to be made, unless you get on the wrong correlations with the market direction, which is such a likely event. Dollar will be weak for a day or two at least next week. This does not look like a month when euro or pound will reach new highs. So be safe on the selling side, and more cautious in buying other majors against the dollar. Good luck.

1st February, 2004: I think the trend for next week will be down in the main. However, as we know, the market always has its ups and downs, 2 days this way and 1 day that way, or two hours this way and 1 hour that way. The forex game is completely different from that of that stock market. This one demands far more flexibility of the mind. If you are stubborn, you get punished for your convictions. Here, faith only does harm to your capital. It is adaptability which enables you to survive as the fittest.

29th January, 2004: The tide is gradually changing in the favour of dollar bulls, I think. But we will only get in when the trend actually starts, not on our intuitive or technical predictions. Let the trend be your friend has certainly taken on a different meaning for me in the forex market.

22nd January, 2004:In action now. Nothing of great note to report yet. Now we are talking about 140 for Euro against the dollar. And look at the yen go. I think this one is a goner below 100 against the dollar one way or another. Always keep a coooooooool head.

18th January, 2004: Do I kick myself for missing such a big correction? Not really. It just shows my intuition was right, but my timing this time was wrong. There are many opportunities in the market. The important thing is get one right and profit from it in a big way. My mind is still clear about what I want to do in the forex market. I will be waiting for my chance.

12th January, 2004: It is a fantastic market out there to be watched for now. At last, the European Bank is signaling some sort of alarm at the appreciation of Euro against the Dollar. Well, that only signals the very beginning of an interesting battle with speculators. Yes, I have been there and done it in 1995, when the Bank of Japan intervened so much to push Yen to the historical low of 80 against the dollar. We are in for an excellent ride. Watch on.

10th January, 2004: The pound is now at $1.8475 and Euro at $1.2816. Some may say these heights are quite alarmingly high. Yes, it is high, but not high enough yet for me to buy into the dollar. Technically, on the charts, there is no buying signal for me either. Psychologically, I still think there are many buyers of these currencies in the market today. The differential in the interest rates is really a key factor. Never say never, I am watching the situation with great expectation. Interesting times ahead of us.

8th January, 2004: I will making some regular observations on the forex trading from today. Trading foreign currencies with margin is of course a highly risky investment. You must make sure to invest only the money that you can afford to lose and still be able to sleep over it.


Today, both the European Central Bank and Bank of England have held their respective interest rate at 2% and 3.75%. The euro and pound continue to rise against the dollar to 1.265 and 1.831 respectively. This is an interesting time to watch the forex market, as there might be an opportunity for the dollar to be oversold. As we have learnt from the history, you can only make the most money in overbought or oversold situations. When the world rushes to the exit door or rush into a gold hunt, it is time for the rare breed to make contrarian decisions and make a lot of money out of situations like that. These include famous investors like Warren Buffet and George Soros. Let's wait and see.<