|
| |
| |
| |
|
|
|
| Forex Trading Journal |
| Forex Trading on EurUsd, GbpUsd, UsdChf, UsdJpy and EurJpy. My focus are in day trading and also longterm trades which are based on both technical and fundamental analysis. I also take high considerations to macro-economic factors. My aim is to become an expert trader. |
| Language: English |
| RSS Feeds for this Blog |
|
Statistics |
| Unique Visitors: 35 |
| Total Unique Visitors: 68677 |
| Visitors Out: 924 |
| Total Visitors Out: 924 |
|
|
|
| |
|
|
| |
|
| Oil and Commodities Relief to Come, Policies Shifting to Growth Issues |
| 2008-08-20 08:39:00 |
Oil has come off its July record and other commodities fallen back, suggesting that if this is sustained then relief should eventually be seen on the inflation front, leaving Central Bank's clearer skies to deal growth issues.While the focus has been on the sharp retracement oil prices - over USD 35 off the highs above USD 147 in late July - metals have also been wilting under the pressure from downward revisions to global growth and Dollar strength leading to the unwinding of commodity hedges, while gold has plummeted to the lowest levels since November. While in historical terms, commodity prices remain elevated, the combo of these broad developments reinforces the general perception that there is a more general bear market setting.The demand side has be...
|
| |
|
| Najib Hinted Lower Oil Pump Price |
| 2008-08-19 10:08:00 |
Deputy Prime Minister Najib has hinted that government would make an announcement of lower pump prices soon, saying that government may have good news for the people soon over fuel prices. According to the DPM, Budget 2009 will be announced on August 29 will see more help for the people especially those in rural areas where there is still much to be done. Najib assures that outcome of the Permatang Pauh by-election would not change the Federal government saying that it will determine the MP not the government.
© Forex Trading Journal
Some right reserved.
...
|
| |
|
| Yen Carry Trades to Recover |
| 2008-08-14 06:05:00 |
FX players are tip toeing back into the Antipodean Yen crosses after yesterday's madness and a steep decline which kicked off 3 weeks ago. Technically, carry trades are looking well oversold, and appear ripe for a major correction. In particular, the sell off in the AUD/YEN is looking exhaustive after losing 10% on Wednesday from its July peak. As a whole, the Aussie has already aggressively front loaded expectations for Reserve Bank of Australia (RBA) cuts and risks to be more surprised if the central bank does in fact ease by a more modest 25bps or not at all, at next months meeting. Risks of a rebound in commodity prices after the Summer Lull will also prove supportive.The NZD/YEN, which fell to its lowest level since August last year on Wednesday has s...
|
| |
|
| Permatang Pauh Election; Anwar verses Arif Shah Omar |
| 2008-08-14 06:00:00 |
In the run-up to the by-election of Permatang Pauh, the ruling Barisan Nasional has announced its candidate to face-off defacto opposition leader Anwar there. But according to the candidate Arif Shah Omar who said he was just as surprised as everyone else when his name was announced. Arif Shah was not hailed from UMNO division in Permatang Pauh, as this may cause displeasure for members who have been working the ground there in past years to find a candidate being parachuted there. Tuft issues even within any political party is often hard to overcome.
© Forex Trading Journal
Some right reserved.
...
|
| |
|
| Reduction in Fuel Prices Soon in Malaysia |
| 2008-07-31 12:02:00 |
Local media report says PM Badawi could announce a reduction in fuel prices soon. Apparently this was brought up at yesterday's weekly cabinet meeting. The government has been studying ways to allow consumers to pay less for fuel after raising them last month. Yesterday Domestic Trade Minister Shahrir was quoted saying that Malaysia could lower pump prices, if oil falls below USD 125/barrel for three consecutive weeks, acknowledged that the country is resigned to subsidizing oil in next 10 yrs.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Chavez Bearish on Oil |
| 2008-07-25 02:03:00 |
Venezuela's President Chavez so often a bull for the oil price has turned into a bear on Thursday as he saw scope for the price of crude to fall to the USD 100/barrel level. Recently he has predicted oil could rise to USD 200/barrel or even USD 300/barrel on various scenarios but today Portugal's news agency Lusa quoted the flamboyant leader donning a more socialist tone. Chavez, said that he saw USD 100/barrel as a 'fair price' for crude. The Venezuela's President believes that the oil market needs to find 'a stabilization level' but has criticized a 'speculative impact' on prices, that have toppled from a record USD 147 to a 7-week low of USD 124. On Wednesday, Venezuela's oil minister Ramirez said he saw no need for OPEC to change its current production quotas. He also suggested that speculative factors were driving prices and there was little OPEC could do.
© Forex Trading Journal
Some right reserved....
|
| |
|
| MIER Recommends Lift Malaysian Ringgit Trading Ban |
| 2008-07-11 22:48:00 |
Institute of Economic Research (MIER) was reported in local press to recommending that Malaysia should relax remaining controls on the MYR and let the MYR currency strengthens to slow inflation. MIER says lifting the ban on overseas trading on the MYR would boost the MYR currency, and helps make imports cheaper. Quoting its executive director Mohd Ariff Kareem who says that BNM only option to cool inflation is to use the exchange rate, because raising interest rates would hurt the economy. MIER suggestion is tempting, but for Malaysia for time being it is no likely to be discussed.
© Forex Trading Journal
Some right reserved....
|
| |
|
| WSJ Survey on US economy |
| 2008-07-11 22:41:00 |
A Wall Street Journal survey showed that 22 of 53 economists said the Fed should be more concerned by economic weakness than by inflation while 21 said inflation should be the greater concern. The remaining said the risks were balanced.The conflicting views reflect differing outlook on where the economy is headed. Most of those who say that economy weakness is the bigger threat think a recession has started while those who think inflation is the bigger worry don't think a recession has begun.On average, respondents believe US GDP grew 1.4% annual rate in Q2, up from 0.5% f/c in June. For 2H, they predict slower growth than they f/c last month, along with f/c of higher unemployment and steeper house price declines. Overall, the average f/c for the Fed's target interest rate at year end edged higher to 2.11% from 2.03% in last month's survey.
© Forex Trading Journal
Some right reserved....
|
| |
|
| GBPUSD: BOE to Remain On Hold This Week |
| 2008-07-10 11:23:00 |
The Bank of England's Monetary Policy Committee gathers today for its regular monthly rate meeting with an announcement due tomorrow. Look for an unchanged verdict with the bank rate at 5.00% in line with market expectations as recent economic data cast a serious shadow over the near term growth outlook. On the flipside, inflationary pressure has continued to build and has been a major cause for concern for many in the committee - so much so that many members considered the merits of a rate hike at the June meeting. Of course, when faced with such data it is only a natural reaction to consider such course of action though the key here is to understand that while some members may have shown willingness to raise rates, their ability is severely constrained. This feature has only intensified ...
|
| |
|
| KLSE Down, Stocks Focus on DPM Najib |
| 2008-07-04 09:28:00 |
The stock market opened today after being closed almost the whole day due to a computer glitch. Shares promptly fell -2.24% at open, having missed much of Asia's falls yesterday. KLSE has since extended fall further to -2.38%. Politics should continue to rile stocks, with focus on DPM Najib.Najib Razak during the press conference with reporters including from the foreign country at his office at the Parliament, yesterday (3rd July 2008). At the conference Najib has denied that he had known or met a Mongolian woman, Altantuya Shaariibuu as written in the sworn declaration of a private investigator, P. Balasubramaniam.
© Forex Trading Journal
Some right reserved.
...
|
| |
|
| When a Bull Struck By a Bear |
| 2008-06-27 23:12:00 |
A reaction of an investor when the KLCI were down. Be careful when investing and trading, always remember the risk and reward.The picture above is just a filler and reminder.
© Forex Trading Journal
Some right reserved....
|
| |
|
| BNM Zeti Still Assessing? |
| 2008-06-12 21:54:00 |
Malaysia Central bank chief Zeti says it is too early to say what impact of recent fuel adj will be. According to her, the central bank will assess risk to Malaysia economy as well as potential stimulus to the economy. Zeti also offered an insight that the government has plan for a stimulus package for small firms. The unexpected high fuel adjustment appeared to have caught BNM off guard. In coming weeks if not months there could be major revision of assumptions that hit her to being made on the Malaysia economy. But political bickering make threaten the best assumptions in coming months. Opposition Anwar-led have boldly declared they will bring down oil price when they assume power, slated on their September deadline.Zeti I have the answer for you. No rocket math in this. Just simple straight forward answer. Inflation and stagnant economy. Worst, it could led to recession. Abdullah Badawi's decission to raise the fuel price led to this. You must blame him.
© Forex Trading Journal
So...
|
| |
|
| Badawi: No More Fuel Price Hike to Reduce People's Anger |
| 2008-06-12 21:31:00 |
Malaysia PM Abdullah Badawi announced late yesterday that the government would not be hiking petrol and diesel prices again this year, recognizing that people are still trying to adjust to the hefty price hike last week. He added that civil servants would be given their salary in 2 tranches to help in the management of their finances. Badawi has been working hard to diffuse public anger over the last price increase with opposition parties planning a protest tomorrow afternoon as a precursor to a much larger protest planned for next month.While Second Finance Minister Yakcob was reported to have said the government will fork out MYR 5 billion for cash rebates on vehicles this year. Also Yakcob says the 3.1% deficit in 2008 budget would need to be reviewed f...
|
| |
|
| Japan Official Expects 'Chapter 2' of The Subprime Crisis |
| 2008-06-05 23:44:00 |
Japan's former vice finance minister for international affairs expressed concern over a possible new phase of financial turmoil caused by the US subprime crisis. In a recent interview with Jiji press, the former vice finance minister stated that an increase in bad loans linked to subprime mortgages would lead to a series of bankruptcies among US regional banks, noting that this would be 'Chapter 2' of the crisis. He also said in the interview that emerging economies are likely to tighten monetary policies to slow down their economies, given that such countries are facing growing inflation due to soaring natural resource prices. He also mentioned global economies appeared to be entering stagflation.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Petronas: Malaysia Will Become Oil Net Importer By 2011 |
| 2008-06-05 23:41:00 |
State-owned oil company Petronas say recent petrol price hikes is expected to delay the country from becoming a net oil importer by 2011. According to its Chief Executive Merican who was quoted as saying that if will be postponed if the demand does not grow at the rate that it should grow. Merican added that if rate of demand is reduced to 4% annually it will be extended by three to fours years to 2014/2015.
© Forex Trading Journal
Some right reserved....
|
| |
|
| UMNO Party Supreme Council to Decide PM Abdullah Badawi's Fate |
| 2008-06-04 20:34:00 |
The ruling UMNO party supreme council will be huddled in a 3-day retreat starting today to be chaired by PM Badawi. It will be attended by rivals like International Trade Minister Muhyiddin Yassin, and former Selangor Chief Minister Toyo both whom have been vocal in calling for PM Abdullah exit. But there are others who would want to vie for PM Badawi position at UMNO if he goes. They include Malacca Chief Minister Rustam, Foreign Minister Yatim, and former Malacca chief Minister Tamby. This list is by no means exclusive. But key remains with DPM Najib. If he throws his lot with rest, PM Badawi fate is sealed. But Najib position is by no means assured of he does that, as field would be opened, and his position as new PM would be just as shaky as Badawi. It is likely on balance he will stay faithful with Badawi. A strong signal from him, over his quietness could quell any party revolt.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Change of My Trading Strategy, New Target |
| 2008-06-03 11:15:00 |
I have changed my trading strategy beginning yesterday. This is because of my lacking of time to check the chart from time to time. I will set the exit target just to around 30 pips from my entry. This means less time to trading and checking the chart. The 30 pips will become my daily trading target. Why 30 pips? Well, i think always pass 30 pips so I just take 30 pips as an easy target. Good trade all.
© Forex Trading Journal
Some right reserved....
|
| |
|
| UK Pound Sterling Will Get Hit Harder Than Dollar, said Soros |
| 2008-06-02 15:06:00 |
In a London Times interview, the world famous billionaire investor master, George Soros, said that UK economy will get hit harder than US economy despite the subprime meltdown that hit the United States. The main factor is the bubbling of U.K. Household debts which can badly affected the country's economy.The UK financial sector accounts for about 8.5 percent of the British economy, almost a point more than in the U.S.. The British households outstanding debt has also risen to 148 percent of personal income, compared to 125 percent in the US. This make the bubbling more severe compared to the United States.In overall, Soros hold a bearish outlook for UK economy compared to the US economy. "The decline is likely to be more gradual than in the U.S., but longer-term." Soros said.Soros is has become an old foe to Bank of England, since the "breaking the Bank of England" on Black Wednesday in 1992.
© Forex Trading Journal
Some right reserved....
|
| |
|
| US Dollar Still Likely to Weaken Further |
| 2008-05-31 19:29:00 |
Despite the recent rebound, the US dollar is still likely to weaken further, as the director of the People's Bank of China (PBOC) gold and foreign exchange division, Wang Yu said. She opined that gold prices would stay volatile in the near term and likely rally on in the long term due to a string of factors.She also said that the rising price will cause further buying by developing countries, creating more demand for gold. Another important factors were the uncertainties of the global economic and political front, said Wang.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Gold to go down to USD 850, copper to USD 8000 ? |
| 2008-05-29 22:40:00 |
Gold continuing to watch oil/Dollar, but unable to hold yesterday's gains and has slipped below the USD 900 level, triggering fund sell stops, to be around session lows at USD 893.54. Some market talk that physicals could re-emerge at lower levels providing support with Asian chatter that buying on the rise after a very slow start. However, broker reports are becoming more bearish with USD 850 touted as a near-term term target.In base metals Copper is still managing to hang onto the USD 8000 level, but is again testing this support with market talk of sell stops clustered below this level. Daily LME copper stocks rose, although at a slower pace than yesterday, but talk centres on waning Chinese demand which saw a very lacklustre Shanghai session. Local talk that prices would have to dip to USD 7800/900 to reignite decent commercial buying.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Earthquake in China Could Cause Inflation |
| 2008-05-28 19:05:00 |
The earthquake disaster which strike China a few days ago could boost inflation the region. Sichuan is an important region for agriculture production in China. The recovery process and reconstruction could add to higher price of some related goods. The pressure is on the transportation cost because of the massive reconstruction needed to repair the damages in the affected areas.However Sichuan is just a small percentage of China GDP, around 4% and the disaster strike on the mountainous area where there just some few factories. An official from the government planner (NDRC) stressed that the quake cannot change the fundamental of economic development for China.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Malaysia Plans to Reduce Fuel Subsidies Within Two Months |
| 2008-05-24 03:54:00 |
Malaysia plans to reduce fuel subsidies within two months, Second Finance Minister Nor Mohamed Yakcop said yesterday. The risk to the ringgit and other regional currencies is the spike in inflation from the withdrawal of fuel subsidies. The ringgit traded at 3.2175 per dollar in Kuala Lumpur for a 0.5 percent gain on the week, according to Bloomberg data, ending a four-week slump.Man, when will the oil price will go down.
© Forex Trading Journal
Some right reserved....
|
| |
|
| US Dollar Forecast, Interest Rates Cutting is Now Done |
| 2008-05-24 03:30:00 |
Reuters forecast that US dollar will remain weak in forex trading. Reason for the stated forecast is the low interest rate will remain because the consumers in the U.S. are under stress from housing, and rising oil prices. This will mean the Rates">interest rates will remain low despite the rising inflation.Markets now expect the central bank to hold steady and possibly raise rates by the end of the year after the interest rates cutting to 2 percent from 5.25 percent since September by the Fed. Meanwhile the multi-billionaire Warren Buffett told CNBC in an interview having the same view for the market.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Mahathir vs Abdullah Badawi, Barisan Nasional Future |
| 2008-05-23 10:20:00 |
Malaysia's former Prime Minister Mahathir Mohamad on the sidelines of the Nikkei Conference, offered the prediction that Barisan Nasional would be in the Opposition after the next elections if Prime Minister Badawi was allowed to continue in office. Dr Mahathir warned that he will attack the prime minister at every opportunity and seek ways to force him out of office. In the past 48 hours, Dr Mahathir has dredged up past allegations of cronyism against the PM and lashed out at anyone who has come forward to defend Abdullah.Dr Mahathir was also quoted as saying, "Yes, Umno can consider me irrelevant. It is their funeral and not mine. Today the Barisan has been destabilized by Abdullah not being able to lead it to victory in the general election." He furth...
|
| |
|
| S&P Rate Malaysia's Credit Rating as Stable |
| 2008-05-16 02:16:00 |
Ratings agency S&P has cut its outlook on Malaysia's credit rating to stable from positive, citing increasing political uncertainty after the recent elections. In a statement, S&P said a challenging external environment and expectations of a slowdown in growth were also factors driving the downgrade on reduced prospects of a ratings upgrade.The agency affirmed Malaysia's A- foreign currency rating, noting that the country's public debt was expected to dip to 7.4% of current account receipts in 2008 with the government's policies generally pragmatic and market friendly.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Chinese Central Bank to Stick to Its Tightening Stance |
| 2008-05-15 17:38:00 |
China's Peoples Bank of China (PBOC) Q1 monetary policy report said that the CB would stick to its tightening stance in order to ward off price pressures as inflation is expected to stay high in the near future. It acknowledged that capital inflows will probably increase further in the short term, which will make it more difficult to implement a tight policy. PBOC said that growth in Q1 turned out better than expected but sees growth weakening somewhat in H1. It was also optimistic about inflation, saying that seasonally adjusted CPI figures have actually been trending down moderately.PBOC reaffirmed its commitment to make the Yuan more flexible in its Q1 report, partly as a tool against inflation. It pointed out that more currency flexibility will reduce cr...
|
| |
|
| Malaysia's BNM Keep Rates Unchanged at 3.5% |
| 2008-04-30 09:36:00 |
The central bank kept rates unchanged at 3.5% for the 16th straight meeting at its monetary policy review yesterday, a decision that had been widely expected, despite commenting that the domestic GDP growth remains supported by strong demand while credit conditions were favorable with ample liquidity in the financial system.However, BNM did voice concerns over the outlook for inflation and was on the lookout for signs that a slowing global economy was easing price pressures. BNM gov Zeti reiterated that the current level of interest rates was still promoting growth.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Malaysia's Current Economic Situation, Central Bank Rates |
| 2008-04-24 21:22:00 |
Malaysia March CPI hit a 13-month high of 2.8% y/y as compared to a 2.7% rise in February, and slightly lower than the median f/c of 3.0%. S/adj, the CPI for March was unchanged from Feb. The increase in March prices was mainly due to steeper prices of food and nonalcoholic drinks, which rose 4.9% y/y, for alcoholic beverages and tobacco prices rose 9.0% y/y.Housing, water, electricity and fuels, which is the second-largest component in the CPI, rose a modest 1.3% y/y. Malaysian inflation has crept up since late last year but remains among the lowest in South East Asia, thanks largely to price controls on essential goods such as flour and cooking oil. Core inflation also looks reasonably stable on the month, at just over 2% thus allowing the central bank to leave rates unchanged at 3.5% next week.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Malaysia Political Situation |
| 2008-03-22 09:39:00 |
The ruling coalition BN continues to face an uphill battle to get its house in order having seen 2 Cabinet Deputy Ministers rejecting their appointments, the threat of defections from government party members to a newly-formed Opposition alliance under Anwar and now a challenger in Tengku Razaleigh, offering himself for the top job in UMNO.At this present stage, there is despair among the rank-and-file over the significant inroads made by the Opposition. A large dose of the blame for the poor performance is being put on the PM, with the bolder critics pointing to public disenchantment with PM's leadership as the source of the defeat of many candidates. Furthermore, the Malaysian economy is in desperate need of a boost amid a deepening global liquidity crisis and a US recession.Just an opinion.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Sell The Dollar Rebounds |
| 2008-03-20 12:21:00 |
Dollar rebound is because of short covering of dollar and unwinding of commodities. With interest rate of just 2.25 percents (the second lowest among major economies), and set to be decreased further, the greenback upside potential may be limited.In the near term, some analysts said the next bout of dollar weakness may not come until March non-farm payrolls data on April 4 and the meeting of Group of Seven on April 11-12.
© Forex Trading Journal
Some right reserved....
|
| |
|
| Greenback Could Fall to 95 Yen in Currency Trading |
| 2008-03-13 21:52:00 |
Japanese Prime Minister Yasuo Fukuda also chimed in to say rapid currency moves are undesirable.But analysts played down the risk of government intervention to stem the yen's rise, despite fears among some that Japan may follow the United States into recession this year.Currency strategists said they now expected the dollar to fall to 98 yen and possibly 95 yen in coming weeks.Story excerpted from: Japan frets as dollar sinks through 100 yen
© Forex Trading Journal
Some right reserved....
|
| |
|
| Euro Analysis: ECB still some way from shifting to easing mode |
| 2008-03-03 04:24:00 |
Although there are clear signs that some of the ECB rate setters are shifting to a more neutral, if not exactly dovish stance, the anti-inflation stalwarts like Weber and Stark seem far from ready to abandon the tightening bias. Indeed, Weber sounded even more hawkish earlier today with a warning that markets are too benign in terms of the outlook for inflation based on current rate expectations (ie a cut later in the year). He not only questioned whether HICP would return to sub-2% price stability ceiling levels at all this year, but also said the staff projections made in Dec underestimates the outlook for 2009. This is widely expected to be addressed this week when updated forecasts are published in conjunction with the Mar 6 policy meeting, while in ...
|
| |
|
| 11th February -15th February 2007: Trades Report |
| 2008-02-16 04:52:00 |
Well, I started trading again this week. I felt quite confident and relax. I have two loosing trades and three winning trades. Big winner are in EurYen trade and GBPCHF trade, while the biggest looser is the GBPUSD trade.1. 2008.02.11 sell eurusd o:1.4536, 2008.02.11 c:1.4500, 36 pips2. 2008.02.12 sell gbpusd o:1.9454, 2008.02.12 c:1.9595, -141 pips3. 2008.02.13 buy eurjpy o:155.93, 2008.02.14 c:158.36, 243 pips4. 2008.02.13 buy gbpchf o:2.1593, 2008.02.14 c:2.1753, 160 pips5. 2008.02.13 buy usdcad o:1.0021, 2008.02.14 c:0.9948 -73 pipsTotal: 225 pipsUsdcad do rise but my trade hit the stop loss first.I'm still not quite sure what is going on in the market. All of my trades were made solely on technical analysis. Okay that's all, good trades and see you in the next update.
© Forex Trading Journal
Some right reserved....
|
| |
|
| New Year and Long Time No Trade |
| 2008-02-09 23:36:00 |
It almost been half a year that I have stop trading. After being beaten by the market, I moved all capital from the brokers and sit quietly aside for a very long time. I do not even know what's going on now, though I took some peeks at the chart and news during that time. What I know is the subprime issues hit the market then dollar went down. Need to regather my updates on the market, doing some research and analysis perhaps. I emphasize more on fundamentals rather than technical things as that is my style since last year.Need to regroup and it's time to restart again. Bye. Good trade.
© Forex Trading Journal
Some right reserved....
|
| |
|
| 18th June-22nd June 2007: Trades & Commentaries |
| 2007-06-19 23:34:00 |
My current positions:1. buy cadchf o:1.1594 sl:1.14852. sell eurusd o:1.3416 sl:1.34783. sell gbpusd o:1.9846 sl:1.99164. buy usdchf o:1.2415 sl:1.2274I think the major trend change is taking place now. On fundamental basis, I think everybody want to cut interest rate now based on the inflation conditions. Technically, all the major currencies look like topping/bottoming out. I'm not quite sure about this, but let us see how the market will answer to the question. The dollar also has looks like has turned bullish.Updates:22nd June 2007:I closed all my positions on 19th June this week:1. sell eurusd o:1.3416 sl:1.3478 c:1.3429, -13 pips2. sell gbpusd o:1.9846 sl:1.9916 c:1.9916, -70 pips3. buy usdchf o:1.2415 sl:1.2274 c:1.2376, -39 pips4. buy cadchf o:1.1594 sl:1.1599 c:1.1609, 15 pips5. s...
|
| |
|
| 11th June-15th June 2007: Trades & Commentaries |
| 2007-06-13 23:32:00 |
I traded some positions this week. Currently has closed all of them, one of them have been stopped out:1. buy gbpusd o:1.9674 sl:1.9661 c:1.9740, 66 pips2. sell usdchf o:1.2374 sl:1.2412 c:1.2412, -38 pips3. buy gbpusd o:1.9716 sl:1.9661 c:1.9740, 24 pips4. sell usdjpy o:121.71 sl:122.09 c:121.67, 4 pips5. sell eurjpy o:162.46 sl:162.87 c:161.73, 73 pipsTotal: 129 pipsThe dollar rise last week because of the bond yield been pushed to 5-years peak. I don't know how long it will continue, but at the moment the dollar index is consolidating at 82 - 83 level (refer the dollar index chart below). There is strong resistance at 83.42 level, so far it cannot breach the resistance. The dollar index also should have already test the trend line, I guess. Heavy news on US market on Thursday and Friday...
|
| |
|
| 4th June-8th June 2007: Trades & Commentaries |
| 2007-06-04 23:31:00 |
Open these positions based on the dollar analysis I posted on this blog before this post:1. buy gbpusd o:1.9845 c:1.9922, 77 pips2. sell usdchf o:1.2290 c:1.2227, 63 pips3. buy gbpusd o:1.9872 c:1.9922, 50 pips4. buy gbpusd o:1.9920 c:1.9922, 2 pipsTotal pips for today: 192 pipsNo SLs because i've been checking them from time to time. I have to close all of them so that I can concentrate on studying for my amateur radio examination the day after tomorrow. I haven't even read their notes yet. Oh....Need to study, will trade later after the examination depending on the market condition or else.
© Forex Trading Journal
Some right reserved....
|
| |
|
|
| 28th May-1st June 2007: Trades & Commentaries |
| 2007-05-28 23:26:00 |
I feel quite nervous when opening my positions, maybe because of I have not trading for a while. My current positions:1. sell eurusd o:1.3454 sl:1.34872. sell gbpusd o:1.9842 sl:1.99093. buy usdchf o:1.2271 sl:1.22174. buy usdjpy o:121.65 sl:121.35All positions are trend following. Yen position is quite tricky, but i think 161.60 support will hold it. Another possible trade is to buy usdcad, which is against the trend, the risk is higher. I will be watching how it goes. Today is holiday in UK and US, maybe my positions will start to develop tomorrow.Updates: 29th May 2007: Two of my positions got stopped out: 1. sell eurusd o:1.3454 sl:1.3487 c:1.3487, -33 pips 2. buy usdjpy o:121.65 sl:121.35 c:121.35, -30 pips Total: -63 pips Re-entry: 1. buy usdjpy o:121.42 sl:121.37 2. se...
|
| |
|
| 14th May-18th May 2007: Trades & Commentaries |
| 2007-05-14 23:25:00 |
Got 2 positions now, opened during London session's opening:1. sell gbpusd o:1.9831 sl:1.99102. sell gbpjpy o:238.53 sl:239.16I just follow the trend, it can go up a little bit, but last week downtrend still looks strong to me. Anyway, I'm quite busy currently, so I guess I just take these two trade for this week.Update:24th May 2007:Both position got stopped out long time ago:1. sell gbpusd o:1.9831 sl:1.9910 (trailing 80 pips) c:1.9820, 11 pips2. sell gbpjpy o:238.53 sl:239.16 (trailing 80 pips) c:238.45, 8 pipsTotal pips: 19 pipsJust been saved by trailing stop . Lucky lucky (actually i don't like trailing stop). Price is way above my entry now. I guessed i shouldn't trade at all last few week. Too risky for me. I'm not updated with market situation now. Don't know what is going on. Maybe i will restart my trading back next week. For now I just want to watch their move. Good trade everybody.
© Forex Trading Journal
Some right reserved....
|
| |
|
| |
 |
