We shall discuss the GBP/JPY pair.
It seems that the bottom has been 127.72 thus when it goes below that and rebound, it is a very good time to buy .

Thats my tip of the day.

Good luck!

Trade trade trade!

It's really been a while not forex. But over the months that have passed, I have learnt alot of ways on how to do efficient trading.
I will stay posting what i think of the market perspective.

For today!
Happy Victoria day!

Recession!

Welcome to the world of recession. That is what the markets are facing now. Each stock markets are testing their lows with little resistance and than breaking it. The main leading market is of course the DOW JON Industries.. citing their lows due to the sell off and currently their unemployment rate is getting higher and higher. Judging from the news of companies lying off workers day by day trying to secure as much as profits as they can in this "great depression" that we might be going into.. pretty soon. Traders are leaning on GOLD(their usual path) as a safe haven.. and selling off gold.. I am pretty sure that Oil companies are crying because to make a profit they need to sell it at 70$ a barrel not the current 48$ a barrel.. which is a huge loss to them but eitherways who cares XD cheap gas for the win and serve them right when Oild was 140$ a barrel in summer. Eitherways trade safe as usual, today's events has shown that the bottom has yet to be reached.

Good Luck all

Anil

Recovery? Slow but surely.

Hello All~
Hope you guys had a good trading day. My trading day wasn't that bad . 7 Trades were done. 6 Positive 1 Negative. Bloody good rather. Today the markets ain't that bad. It was bound to recover from the drastic drops that Bears have been dropping 2 days ago till yesterday. Markets are marching into a little bit of recovery but Huge drops like yesterday makes Newer investors that have yet to be established with these kinds of drops thus making fearful of entering the market again after their positions all negative. In Forex markets overnight, there were some drastic movements but half of what happened the previous close. The Australian central Bank slashed it's interest rates by 100 BPS (1%) from 7% to 6% rather than to 6.5% which was markets were hoping for. Upon news it dropped 200Points down but after that. Markets believed it was a good move to help recover the financial crisis that was happening all around the world. It rallied 350 Points UP after. It shows that other central banks around the world are also going to have rate cuts soon to cope with the financial turmoil.
European union pres: Trichet is asking for help to aid with Europe's Financial turmoil. So it might be volatile in rally wise if anything happens.
Till than Good Trading all~

Anil

Dreadfull day for Markets

Markets all over the world are RED, plunging to levels that have been yet to be seen in years that have passed. What tiggered it? First of all it was the bailout plan. Thou approved, investors are still worried that the worst is not over and along with that came Germany's 2nd Largest Mortage lender needed a bailout of 60Bln. Australia's bank Suncorp has reports of it being approached thus rising fears that Australia might have Banking financial crisis as well. Everything thing that has been going on has killed other investor and me as well. At these times, it is wise to study the market properly and LOOK at support levels those are rather crucial.
These are drops noted today.
AUD/USD = Drop of 700 Points
USD/JPY = Drop of 500 Points
GBP/jPY = drop of 1000 Points ( holy)
EUR/JPY = Drop of 800 Points

Markets that really substained with little drops were EUR/USD of 165, GBP/USd of 250.
Wonder why is that? we'll see later. I expect drops on these 2 Majors later when the crushing of the other 4 pairs are over.

trade Safe. (for now i'm shorting Eur/USd, hope this one works XD)

Anil

Changes of Platforms

Changed from FXCM to Interbank.. FXCM ermmmmmmm charts suxs. ^^
IBFX uses metatraders which is for the wiN!

Anil

New style of trading

currently.. organizing a new style of trading for myself.. that risks my whole account but with the min risk as possible..
Shall see how that goes.

Anil