Friday, May 7, 2010

Powerup Capital Review #28

This is my first time writing to Powerup Capital Review. I was invited by other graduates to share my experience. So why not?

My name is Christine, mother of 2. I am an accountant by profession and in my free time after work, I trade forex. My goal is to build an education fund for my kids.

I attended Kishore's forex class in mid 2009 and I'd like to share with you my latest profit thanks to the lessons learned from Kishore's Instant FX Profits course.


As we all know Greece is currently having a riot because the entire country is in major debt and the Greek government is trying to bailout the big companies that initially lost the money. (source)

When the Greek government bails out private companies using tax money, common sense will tell us that the common Greek folk would have to pay more taxes in future. Obviously the common folk would totally disagree with the government using their tax money to benefit the ultra rich.

So as we can see in the news, the common people in Greece are protesting against the bailouts. It's a very serious event. So with news like this, the Euro was badly affected. I had decided to take action by profiting from this bad news.

So on Monday, 3rd of May 2010, I had decided to short sell 2 lots of the EUR/USD pair with a stop loss of 150pips. My capital for trading is USD3000. 

I let my 2 sell positions opened for 4 days because I saw the candle sticks continued to fall according  to the moving averages. 

The candlesticks were retracing on the fast moving averages and for all the days they never once penetrated the slow moving averages so it was a good sign that the downtrend was strong. (This technique was clearly demonstrated by Madam Mona, my fellow senior)

On 7 May 2010, I had decided to exit my positions with a profit of USD2372 because I read the news from the MSN money website that the Dow Jones has a sudden fall of 3%! Obviously when the Dow falls, the Euro would strengthen and a reversal of the EUR/USD would show up. This was covered during the session about fundamental data in Kishore's class.

For me I would rather take my profits first as advised by Kishore all the time. So for now. I will take a break from trading and will only re-enter the market when another opportunity arises. Please have a look at my trade:


Click to enlarge

Now, trading forex is not a bed of roses all the time. I have had some losses when I first started trading. But so far, this trade that I showed you is one of my very good trades. The most important thing about trading is to profit more than lose. That's all that matters.

I would like to thank Kishore for all the strategies he had thought me especially the pip retracement technique and the pip maximizer technique. Without his coaching and guidance, I would not be able to share this story with you.

If you have any questions please feel free to drop me an email from this blog. I'll be happy to answer your questions as I will be taking a few days leave from work to relax and spend more time with my young ones.

Til next time.

Love,

Christine Leong

Instant FX Profit, class of 2009

Sengkang, Singapore


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