Monday, September 18, 2006

Slowly coming back to forex...

I've practically stopped trading for 2 weeks since I moved to this new place. I'm slowly adapting to the new life and I just CAN'T wait to get back to forex. Even I've lose alot in these months, I still believe that forex trading would be my lifestyle in future. I've been struggling and trying extremely hard to catch up with the macroeconomics that was happening while I was away. I could say that I catched up with almost 95% of the things that I've missed.

Through this 2 weeks rest, I've learnt new ways to trade XAU/USD or commonly known as gold. I've finally catch some point to trade it and I'm currently testing it with my demo account with Oanda. I short XAU/USD at 583.80 believing that gold price will breach the 542.25, the lowest point for gold this year that happened on June 14. I'm expecting gold price to go as low as 535 before going back up to 550, and slowly maintaining the price in the zone as inflationary pressure of the world's largest economy is slowly easing. As my current nature of business involves heavily in gold trading. I am learning on how to trade commodity especially gold to balance myself with the price... making wise decisions on shorts and long at the right time.

I would be fully concentrating on commodities trading gold initially and I intend to understand silver (XAG/USD) as well. These learning will benefit me alot because my 2 times margin call is also caused by gold. As the old saying goes, I will need to get back up from where I fell. I don't intend to fight it, but I intend to understand it.

I hope I can resume live trading as soon as possible and updating this blog more as I am resuming studying the market, struggling to get back to my old forex life...

Happy Trading to Everyone!!