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

Overnite trades

Short: GBP/JPY 214.50 ( 1 lot)
GBP/JPY 214.25 (1Lot)
GBP/USD 2.0072 (2Lots)
EUR/USD 1.6000 (2lots)

We'll see if any get hit lol..
^^

Anil

i got screwd in gbp/jpy.. -_-
Should have listen to myself and make the lvls higher lol o well..

My current trade

EUR/USD : Long 1.59110.
Closed at 1.59121 as it was going no where.

How I trade.

Overall.. my trading is rather simple.
I use indicators such as RSI (expo)(simple) to see overbrought or oversold terrortories. I would than take 1 lot short or long depending on the conditions (overbrought or oversold). Normally it will go abit higher or lower from my point of entry. Than I will take another long or short from there again. Fundamentals news are very important too and than after that its just the market trend.
Good trading all~
XoXoXo
Anil

current :$240.. I fcked up bad it seems lol.. gotta learn gotta learn.
5.28am est : $244.34
a pretty bad day i would say.
Overall a bad day. Time to think and learn about the mistakes. ^^

Anil
P.S: From now I am posting my trades

A new week yet again

Starting off with $431 Dollars.. let's see what I can do with it.
This past week has been hectic for the US economy cause of Freddie Mac and Fannie Mae both suffering cause of the Housing problems.
Will this week be a better week for them?
Their shares went from 72 to 6 in just 2 days.. Will they recover?
We'll see..

Current: $446.70

Anil

Account Update

Current 9.05am Est: $386.20
11.30am EST: $414.10
3.30pm EST: $438.00

Anil

Taking advantage of rollover rates

This caught my eye recently or eitherways I was too dumb not to notice it.
This is from the platform that i trade on.

Currency Pair Bid Offer P/L in USD if long per lot P/L in USD if short per lot
EUR/USD -0.000210 -0.000070 0.70 -2.10
USD/JPY -0.013000 0.001000 -0.09 -1.21
USD/CHF -0.000090 0.000050 -0.49 -0.88
GBP/USD -0.000270 -0.000130 1.30 -2.70
AUD/USD -0.000260 -0.000120 1.20 -2.60
USD/CAD 0.000060 0.000200 -1.98 0.59
AUD/CAD -0.000180 -0.000040 0.40 -1.78
AUD/CHF -0.000260 -0.000120 1.17 -2.53
AUD/JPY -0.027000 -0.013000 1.21 -2.52
AUD/NZD 0.000000 0.000140 -1.06 0.00
CAD/CHF -0.000150 -0.000010 0.10 -1.46
CAD/JPY -0.015000 -0.001000 0.09 -1.40
CHF/JPY -0.014000 0.000000 0.00 -1.31
EUR/AUD 0.000050 0.000190 -1.82 0.48
EUR/CAD -0.000060 0.000080 -0.79 -0.59
EUR/CHF -0.000180 -0.000040 0.39 -1.75
EUR/GBP -0.000010 0.000130 -2.57 -0.20
EUR/JPY -0.026000 -0.012000 1.12 -2.43
EUR/NZD 0.000100 0.000240 -1.82 0.76
GBP/AUD 0.000080 0.000220 -2.11 0.77
GBP/CAD -0.000180 -0.000040 0.40 -1.78
GBP/CHF -0.000240 -0.000100 0.97 -2.34
GBP/JPY -0.034000 -0.020000 1.87 -3.18
GBP/NZD 0.000100 0.000240 -1.82 0.76
NZD/CAD -0.000230 -0.000090 0.89 -2.28
NZD/CHF -0.000260 -0.000120 1.17 -2.53
NZD/JPY -0.025000 -0.011000 1.03 -2.34
NZD/USD -0.000210 -0.000070 0.70 -2.10
USD/HKD -0.000310 -0.000170 0.22 -0.40
USD/SGD -0.000200 -0.000060 0.44 -1.47
SGD/JPY -0.002120 -0.000990 0.09 -0.20


As you can see.. Let's say I want to long term trade Eur/Jpy cause i know and feel that it has alot of potential to the upside.
What i would do is set up a long trade at the lowest point that I can. Than i would long term trade it. Everday at 5pm est, roll overrates come into effect and my long positions is daily credited by (-0.012) which is roughly 1.2pips of profit per day jsut by roll over rates. Roll over rates really depends and changes on a day to day basis depending on how the market is. It can be big and small like how it is now. Yesterday it was 4.2 pips.. I guess it really depends on the market.
Just a heads up.
EUR/JPY -0.026000 -0.012000 1.12
Anil

T_T

Gotta hate it when your system trades doesn't get approved when you place them.
Well this was what happened.. Before i went gym.. i Played orders 2 orders.
1 for GBP/JPY to hit 212.3 and USD/NZD to hit 0.7620... Apparently both hit and They were not played out by the server <.< That made me wave my 200$ bb -_- for nothing >.>

oh well -__-
July 10 7am est :$311.70 >.>
Anil

Overnite trades

Since there's gonna be a shit load of data overload. I will place a short at 212.20
Profit at 211.2
Long at 210.2 Profit at 211.5

Good nitez

Anil

A new week

A new week has began and this week I'm gonna start off with $210 and build my way up.
Most important stuff of the week is..
will the EUR recover? we might see a 100 pip recovery back overnight maybe..

July 6 6.54pm : $223.16
July 7 11.31pm :$235.06
July 8 5pm est: $263.00
July 9 1.52am est: $302.78

most of these trades if i kept them would have earned 200$ more T_T

ECB rate decision... Wat'll be of the market?

Remember how FED held rates steady which sent the usd/jpy.. from 108.40 to 105.1 (lowest) currently at 106.01.. Imagine what will happen if ECB cut rates or keep it steady instead of what their hawkish attitude has been implying for the past week that has made the EUR/USD KING.. surging from 1.55 to 1.588 seems like a whoop-pa right there.. If they don't increase the rates.. Good Game to Eur/USd.. it will prob go down to 1.50 pretty fast due to the lots of overbought but little of selling for the past week.
Remember it's the time where there's gonna be lots of volatility. So one might wanna play it with caution.

Good Trading all~

Anil

Thoughts.

Well I am short on EUR/USD at 1.5672.. (too early i guess >.>)
reason i got it was it was way too overbought.
But the thing is that market doesn't care whether it oversold or not..
well good luck to me.

For you GBP/JPY (ers)
This is risky.. as overnite it will be filled with UK Heavy Load Data.
But what i feel is .
Take a entry short order at the recent high. 213.36 or 213.5.
We would be aiming for 212.5 at least from that point or maybe lower.
It might be spiky.
For this pair i won't put a stop loss as it's a pair with lots of volatility.
But it's up to you.


Good luck All
Anil

Entry Orders.

I got 2 Entry orders for short.
First is 213.00
Second is 213.28

Am flat for the nite.. due to FOMC interest rate decision.
Past was -25bps..
Prediction by many is 2%(unchanged)
My predictions? Due to inflations rate and housing decreases.
It could go down to 1.75%(20% chance) 2.25%(80%)
Well that's what i think.
For people that wants an overnite trade..
GBP/JPY long might get some kicks i think but not sure.
If a test of today's low is hit.. a sweet ass long will be good from there too ^^
For now .. ZzZ

Anil

Anaylsis..

Well overnite trade..
Short at 212.69
212.38 ( got in a bit too early XD)

So for my overnight trade
These are my analysis.

Scenario 1
108.5X1.972=213.96
107.8x1.972=212.5816
107.5x1.975=212.3125 (3)
107x1.98=211.86 ( I hope this comes (1))

Scenario 2
108.2x1.96=212.072
108.6x1.965=213.399 ( If this comes we'll look for long and i will be dead XD)
109x1.97=214.73 (2)
109x1.96=213.64
107.23x1.98=212.31 (3)


Short was taken due to overbought RSI hourlies in GBP/USD, GBP/JpY by itself.. USD/JPY blah the usual ups and downs.. but resistance at 108.2 was seen..


EDIT:
Well guys.. our target of 211.86 was hit for a while before it went up.
I would cut the position with profits. But I am not too sure.
RSI doesn't say oversold.. but Stochastics does. The choice is up to u.

GBP/JPY

I hope you guys shorted when I said so... well cause retracement was found. It would have been a sweet ass 130 pips at least ;)
It should find itself down due to the POEC annoucing that it doesn't wan to increase the amount of oil output, which will likely weigh on USD HEAVILY over the weekend. What i hope to see over the weekend is to see GBP/JPY open at 210 on sunday ^^. Remember Friday is always filled with choppy trades so be careful ;)

Till than See you when i see you.

Anil

GBP/JPY

Erm.. seems like this bugger is not ready to go down as of yet.. lol..
Popped though 212.5 with good Surprisingly Good UK data coming though... but resistance was seen at 213.33.. retracement should be 211.8944.. Seems like a good spot to short for a drop. Technical studies( RSI,Stochastic) show "way" overbought conditions. So a retracement to 0.6618 Fibonacci is most likely.


GOood trading all~

GBP/JPY

The fate?


It seems that way to me.. but who knows?
This one is for long term.. for people likes to use trends..

USD/CAD

Signs of going up. Based On MacD on 1hrs chart, cross over is being shown to the upside direction.
RSI indicators are heading down. EMA stats that uptrend is coming up till 1.0275 (my view that it will go up till)

As usual always have a S/L in every trade.
I'll be taking a long 1.0190. Stop loss is at 1.0150.

Edit: Book 15 Pips Profit.
It is going down for now but not for long. Key support is 1.0150.
Laterz

Welcome aboard!

Hi, all I am Anil and I am a student at UOIT (University of Ontario Institute of Technology) in Oshawa,Ontario,Canada. I have a deep interest on playing Forex and as others deep interest in making PIPS. I'll share my views and what i think will happen
but like always there's a high amount of risk in every trade we make dependent on Fundermental and Technical methods.

Good trading all.