Some Basic Information...

People always want to know what software and hardware you're using for trading, what's your trading environment like, etc. Here's a bit of information about my trading area:

My office is in the loft area of our home. It's quite comfortable and far enough away from the normal hullabaloo of what ever else is going on in the house. Usually, that's not too much since I'm based in California, eight hours difference to GMT.

Though forex(foreign exchange) or currency trading is a 24-hr market, my trading session runs from near the end of the Asian session (10:00pm PT) to approximately a couple of hours into the London session (1:30-2:00am PT). I've found this zone provides plenty of entry opportunities if you stay focused and don't dilly-dally surfing on the net, watching YouTube, etc. If you need to read trading related news or find out what fundamental data will be released during your session, try to do it before the session commences. Make notes, whatever it takes. Don't answer your phone except in emergency(let it take a message) and ask your family and friends to leave you alone. Personally, I pick out a selection of music for the evening's trading session that will play softly in the background, typically it's jazz or classical. I want to stay calm and focused. The idea here is to make money through excellence in trading.

I use two computers with three screens between them. One is a Dell Inspiron 6400 E1505 laptop w/ 1GB of RAM and an 80GB HD running Windows XP(yuk!). This computer controls my broker's platform for entering and exiting trade positions. It is also my email and news server. The second computer is an old Shuttle PC with a Pentium P4, 1 GB RAM, 40GB HD and Nvidia graphics card that controls two Samsung LCD monitors set to 1280x1024 each. This computer only controls my FXDD MetaTrader 4 charts or IT-Finance charts.

You may wonder which pairs of currency I monitor for entries? As I write this I monitor four currency pairs: GBP/USD(cable), EUR/USD(euro), GBP/JPY(geppy) and EUR/JPY which has no nick name as far as I know. GBP = British Pound, EUR=euro, JPY=japanese yen and USD=U.S. dollar. I'll rotate other pairs in and out of the line up from time to time.

My broker is EFX Group. In my opinion they are the best retail brokerage. Their platform is a little more complex, but it has never gone down in any market condition. I have trader friends who complain their broker platform went down or froze during high volume times locking them out of the market and unable to close or open positions. This is not uncommon in retail forex.

Finally, you may be asking yourself: What is he saying? Currency Pairs? If you're asking these questions, then you need to visit Babypips.com. It's a fantastic website devoted to forex education. If you're here because you're interested in trading currencies but don't know much about it, then visit the web site and get up to speed on the basics.

In the posting, I'll be describing my trading strategy to the best of my ability. If you have any questions, make a comment or send an email.