Trader's Edge

As traders our edge is the ability to analyze. We find evidence and
decide which side of the trade we should be on.

However, I realized most traders only try to find the right side of
the trade but neglected the right timing and with the right risk.

And we are just talking about getting into position. In my opinion,
ability to manage is the more important edge we need to train and
develop throughout your career as a trader.

Having a good psychology help us to sustain our training and
development. And the best, this never ends...

Sent from my iPhone
Eric Lye (赖锦河)

Hexametry for Traders - Trade Call on AUDUSD 2010-03-23

This is an intraday Trade Call on AUDUSD done by Eric Lye in our Forex Trading Room. 

The purpose of the Trade Call is not to instigate my readers to trade, but rather to give more insights of how we trade.  We trade on price action, we also trade based on our Hexametry framework.  The framework is not a specific system nor a method.  It is how we approach the market and manage ourselves as a trader.

[Tuesday]
Following up the analysis done on AUDUSD, there is a new opportunity to short AUDUSD

[Tuesday evening]
So tough to short this pair.  Have to give up this call.
 

Hexametry for Traders - Trade Call on AUDUSD 2010-03-22

This is an intraday Trade Call on AUDUSD done by Eric Lye in our Forex Trading Room. 

The purpose of the Trade Call is not to instigate my readers to trade, but rather to give more insights of how we trade.  We trade on price action, we also trade based on our Hexametry framework.  The framework is not a specific system nor a method.  It is how we approach the market and manage ourselves as a trader.

[Saturday]
I just did my analysis and this is the trade call for the coming week.  Also refer to the analysis done on Friday

















[Monday]
There was opportunity to short but with small profits around the 50pips region.  This again tells us that the market is random.  We formed bias of the market through our analysis, and we need to learn to accept the information when the market is telling us the opposite as the trade progress.

In my opinion, there is no such thing as right or wrong call (unless obvious cases like selling into support and buying into resistance with no good reasons), thus it's all about how we manage our trades in order to profit from the market.

AUDUSD 2010-03-19 Analysis

Technical analysis on AUDUSD done by Eric Lye in our Forex Trading Room

[Friday]

The pair is still on a strong move up.  There is still some upside or it might start to come down south.  So, what we need is a good setup to tell us which direction is of more probability (higher chances of success)

Hexametry for Traders - Trade Call on USDJPY 2010-03-17

This is an intraday Trade Call on USDJPY done by Eric Lye in our Forex Trading Room. 

The purpose of the Trade Call is not to instigate my readers to trade, but rather to give more insights of how we trade.  We trade on price action, we also trade based on our Hexametry framework.  The framework is not a specific system nor a method.  It is how we approach the market and manage ourselves as a trader.

[Friday] Update
Pair still pretty much trapped, but if played according to the level, getting small profits (30-50pips) can be done a few times throughout the last 2 days.

Let me look for other signals that has learning values and I would post it up for my readers.

Good Tuesday

Managed to have 3 profitable trades today.

1) Managed to close out the USDJPY short that I did yesterday night
2) Shorted GBPUSD as per analyzed, didn't expect the fast U-turn, but still managed to get good profit out of it.
3) Didn't manage to react to the U-turn in the market, but caught the EURGBP short  (not big move, but good extra profits)

GBPUSD 2010-03-16 Analysis

 Technical analysis on GBPUSD done by Eric Lye in our Forex Trading Room

[Tuesday]

GBPUSD clearly resisted and a nice bearish reversal (evening star) is show on the daily chart.  Look for a good setup to short so as to find a logical and better priced stop loss.


















[Saturday]
It's funny that someone would call me unethical for this.  Anyway, I am just showing how I trade.  What I see and how I manage the trade would determine how much I can get from the market.  Is the right call so important?  Market is random by nature.  Nobody can be sure where market would go, it's all about how you manage.  Below is how I managed the trade

AUDUSD 2010-03-15 Analysis

Technical analysis done by Eric Lye in our Forex Trading Room

[Monday]
I still see resistance at the moment, but the downward move is not confirm til the breaks happened as shown in analysis chart below.  Double top is forming in H4, but yet to be confirmed.