FOMC Statement o.O

Yosh!

Below is the statement released by the Federal Open Market Committee after its Oct. 28-29 meeting on interest rate policy, copy-and-pasted from here:

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 1 percent.

The pace of economic activity appears to have slowed markedly, owing importantly to a decline in consumer expenditures. Business equipment spending and industrial production have weakened in recent months, and slowing economic activity in many foreign economies is damping the prospects for U.S. exports. Moreover, the intensification of financial market turmoil is likely to exert additional restraint on spending, partly by further reducing the ability of households and businesses to obtain credit.

In light of the declines in the prices of energy and other commodities and the weaker prospects for economic activity, the Committee expects inflation to moderate in coming quarters to levels consistent with price stability.

Recent policy actions, including today’s rate reduction, coordinated interest rate cuts by central banks, extraordinary liquidity measures, and official steps to strengthen financial systems, should help over time to improve credit conditions and promote a return to moderate economic growth. Nevertheless, downside risks to growth remain. The Committee will monitor economic and financial developments carefully and will act as needed to promote sustainable economic growth and price stability.

That's all for the time being, thank you for visiting :)

This Week's Trades o.O

Yosh!

There's no trading ideas today, but I wanna share what I have right now:

Gold buy @ 739.00
NZD/USD buy @ 0.5700
NZD/USD buy @ 0.5690

I also have some pending orders:

Gold buy limit @ 738.00
Gold buy limit @ 737.00
NZD/USD buy limit @ 0.5680

I don't know yet how long to have these positions. I'll wait and see :)

That's all for the time being. Thank you for visiting :)

Trading Ideas in Comdolls o.O

Yosh!

It has been quite some time I don't give any trading ideas with chart. I'm looking at my favorite comdolls: NZD/USD and AUD/USD

NZD/USD


AUD/USD


Both have similar pattern, have breached the lower trendline. Trading idea: go short as soon as the first candle open below the line (at 2 p.m. GMT +8 if I not mistaken)

Take profit and stop loss is at your discretion. Happy trading :)

That's all for the time being, thank you for visiting :)

This Week's Update o.O

Yosh!

More days off this week, but I have some trading ideas in my mind:

1. Gold and silver are getting cheaper than before, I'll buy when they'll go lower.
2. I still waiting to sell USD at better price, waiting to go long EUR/USD, GBP/USD, NZD/USD and AUD/USD (I just leave another 3 pairs for some reasons).

In addition to that, I'm about to conclude my experiment soon. Seems like it ends a month early. I'll take some of my sweet time to learn new stuff, introduced by a friend, just waiting for the notes :)

That's all for the time being, thank you for visiting :)

Taking Days Off o.O

Yosh!

I was so busy with stuff and assignments and I'm so lazy to update this blog. This week I don't even trade but I keep looking at the market.

I'm planning to do this: sell USD, buy precious metal - gold and silver

And at the same time I just want to buy cheap stuff - so I'll go with NZD and AUD.

Basically this is not a trading signal. This is what I think. I have no specific price for that to execute my order. If I want to buy, I'll buy, If I want to sell, I'll sell. Just like when I'm buying stuff in the market. It's just in this matter, it is the money market.

But I'm not doing it now. Maybe not next week. I just need few days off. Final exam is coming and I need some peace of mind :D

If you have any comments and questions, just ask me (put that in the comment). If you want to share your trading idea, please do so. Maybe I can share my view on that. Take note that I'm a long term trader, so don't send any trading ideas for scalping - that is not my field :p

That's all for the time being. Thank you for visiting :)

Your Comments o.O

Yosh!

No trading idea today, just reply to a comment given by a visitor :)

bro ,
i suggest u tell us how many pips u u'r targeting,either long or short..

Abdullah Ghani

Answer:
I have no spesific target. Since the market always change, I also keep changing my target, trying to become as flexible as possible. However, I have tendecy to target at least 100 pips and stop loss 200 pips.

Flizzoe

That's all for the time being. If you have any comments or questions, feel free to ask. Thank you for visiting :)

Trading Ideas o.O

Yosh!

This week I have some trading ideas but I dunno whether to do it or not.

EUR/USD, I'm out of it.
GBP/JPY, exited last week, missed 1000 pips opportunity.
GBP/USD, I'm watching closely, feel like wanna go long, but I don't think it is now.
EUR/CHF, same like GBP/USD.

My emotion is unstable right now. Not because of forex, some other things. Seems like they are affecting my mood to trade. And I don't like it :S

Right now I just go long in Gold.

That's all for the time being. Thank you for visiting :)

Weekly Wrap o.O

Yosh!

Information below was copy-and-pasted from here:

Currencies: During Friday's afternoon trading session, the U.S. dollar edged lower against the euro, after the House of Representatives approved the $700 billion rescue package. An earlier report by the Labor Department indicated that U.S. non-farm payrolls declined for the ninth straight month and at the steepest rate in 5-1/2 years. However, the unemployment rate for September remained unchanged at 6.1%, which helped lift the greenback during the morning trading session.

• The dollar index was on track for its biggest weekly increase since 1992, with a gain of over 4% for the week. Friday afternoon, the dollar index was at 80.29, after hitting a 13-month high of 80.93 earlier in the day.
• In midday trading in New York, the euro was at $1.3858 versus the dollar, after falling as low as $1.3706, or its lowest level since September 2007. The European currency was on track for its worst weekly decline ever, down over 5% for the week.
  ** Comments from ECB President Trichet this week suggested that the first rate cut in over five years could be in sight, as inflationary risks ease and the financial market turbulence intensifies in the euro zone. During the ECB meeting on Thursday, the European Central Bank decided to maintain interest rates unchanged at 4.25%.
• The pound sterling traded at $1.7755 versus the greenback on Friday, from $1.7553 late Thursday. The pound sterling declined over 3.76% this week, marking its biggest weekly decline since September 1992.
• The Japanese yen was relatively unchanged trading at 105.21 yen per dollar on Friday, from 105.32 yen late Thursday, down 0.7% for the week.
• The Australian dollar had its worst weekly percent decline, falling over 7% against the greenback, since March 1983. Against the U.S. dollar, the Australian dollar traded at $0.7733 per U.S. dollar on Friday, from $0.7722 late Thursday.

If you are interested to read more, you can visit here.

That's all for the time being. Thank you for visiting :)

Trading Ideas o.O

Yosh!

I have exited my trades in GBP/JPY. I hit the jackpot in this pair. But EUR/USD is not good. The only good thing is the price is getting cheaper. The same thing applicable in Gold.

Please take note that in EUR/USD I don't hold any positions more than 350 pips. Some positions have hit their respective stop losses, some are still there and I don't have any problem with any of that. One mistake I made early this year is to make perfect trades. That is possible, but damn difficult. Somehow I manage to formulate new winning formula, a formula that includes losses.

I'm going to exit my positions in EUR/USD soon as I have no idea when it will shoot up. At the same time I'm not interested to sell. I just don't feel like it.

Currently I'm eying on GBP/USD, GBP/JPY (I think I'll go long soon), and EUR/JPY. I want to clean up my field before starting a new ball game.

That's all for the time being, thank you for visiting :)