Yosh!
It's not recommended for anyone to trade in the last week of the year but today I have 2 trading ideas for the new year. Trade at your own risk however.
NZD/USD
Signals:
1. Go long when there is a new candle stick open above the trend line.
2. If the price break the horizontal line, let it go lower, the go long.
EUR/USD
Signals:
1. Go long when there is a new candle stick open above the trend line.
2. If the price break the horizontal line, let it go lower, the go long.
Target Profit and Stop Loss are up to your discretion.
That's all for the time being, thank you for visiting :)
Trading Idea for New Year o.O
International Market Holidays
Yosh!
The following list includes major international markets:
Thursday, Dec 25
AUSTRALIA - Christmas Day - Market Holiday
CANADA - Christmas Day - Market Holiday
FRANCE - Christmas Day - Market Holiday
GERMANY - Christmas Day - Market Holiday
HONG KONG - Christmas Day - Market Holiday
UNITED STATES - Christmas Day - Market Holiday
Friday, Dec 26
AUSTRALIA - Boxing Day - Market Holiday
CANADA - Boxing Day - Market Holiday
FRANCE - Boxing Day - Market Holiday
GERMANY - Market Holiday
HONG KONG - The first weekday after Christmas Day - Market Holiday
UNITED STATES - U.S. bond and stock markets will observe a regular trading schedule. CME Group: Dairy products will remain closed. All other products, both pit and electronic, will trade regular hours.
Wednesday, Dec 31
GERMANY - Market Holiday
JAPAN - Exchange Holiday - Market Holiday
Thursday, Jan 1
CANADA - New Year's Day - Market Holiday
JAPAN - New Year's Day - National Holiday
UNITED STATES - New Year's Day - Market Holiday
That's all for the time being. Happy holiday :)
Trading Ideas for this Week o.O
Yosh!
This trading idea will cancel the previous trading idea - GBP/USD:
Looks like 'head and shoulder' pattern is forming, so if the price breaks and a new candle open below the horizontal line, then let the price go lower and then buy when the price is around 1.4700 - 1.4500.
Target Profit and Stop Loss are up to your discretion.
That's all for the time being, thank you for visiting :)
UPDATE:
I have another trading idea, new chart, GBP/JPY:
2 signals:
1. Buy when there is a new candle stick open above the trend line.
2. Buy when the price reach the horizontal line.
Target Profit and Stop Loss are up to your discretion.
That's all for the time being, thank you for visiting :)
Weekly Wrap o.O
Yosh!
Let's look what happen last week:
NZD/USD
The 2 horizontal lines were the trading idea last week, seems like the potential profit was almost 500 pips $_$
GBP/USD
This is for the first signal - the 2 trend lines were the trading idea last week, seems like the potential profit was more than 500 pips $_$
The second signal I believe is still valid and I'm going to wait for the price to go down more, maybe will buy around 1.4800 or lower.
And USD/JPY did not hit the trigger last week :S
That's all for the time being, thank you for visiting :)
New Trading Idea o.O
Yosh!
I have a new trading idea for GBP/USD:
Signal:
If there is a new candle stick open below the trend line, let the price go lower then buy. It's going to take some time.
If you want to go short, I don't recommend it, but it's up to your discretion.
Target Profit and Stop Loss are up to your discretion.
That's all for the time being, thank you for visiting :)
Must Read: FOMC Statement
Yosh!
Read and understand this if you wish to become a better forex trader o.O
Below is the statement released by the Federal Open Market Committee after its Dec. 15-16 meeting on interest rate policy:
"The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent.
Since the Committee's last meeting, labor market conditions have deteriorated, and the available data indicate that consumer spending, business investment, and industrial production have declined. Financial markets remain quite strained and credit conditions tight. Overall, the outlook for economic activity has weakened further.
Meanwhile, inflationary pressures have diminished appreciably. 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 further in coming quarters.
The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability. In particular, the Committee anticipates that weak economic conditions are likely to warrant exceptionally low levels of the federal funds rate for some time.
The focus of the Committee's policy going forward will be to support the functioning of financial markets and stimulate the economy through open market operations and other measures that sustain the size of the Federal Reserve's balance sheet at a high level. As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets, and it stands ready to expand its purchases of agency debt and mortgage-backed securities as conditions warrant. The Committee is also evaluating the potential benefits of purchasing longer-term Treasury securities.
Early next year, the Federal Reserve will also implement the Term Asset-Backed Securities Loan Facility to facilitate the extension of credit to households and small businesses. The Federal Reserve will continue to consider ways of using its balance sheet to further support credit markets and economic activity.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Christine M. Cumming; Elizabeth A. Duke; Richard W. Fisher; Donald L. Kohn; Randall S. Kroszner; Sandra Pianalto; Charles I. Plosser; Gary H. Stern; and Kevin M. Warsh.In a related action, the Board of Governors unanimously approved a 75-basis-point decrease in the discount rate to 1/2 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of New York, Cleveland, Richmond, Atlanta, Minneapolis, and San Francisco. The Board also established interest rates on required and excess reserve balances of 1/4 percent."
That's all for the time being, thank you for visiting :)
Trading Ideas for Week Ahead o.O
Yosh!
I have few trading ideas for next week, what ever it is, trade at your own risk, because there's no guarantee that they will become profitable :p
GBP/USD
2 signals:
1. Buy when a new candlestick open above the upper trend line.
2. If the price break the lower trend line, wait the price to go lower (a few hundred pips maybe) then buy.
USD/JPY
1 signal:
Buy when a new candlestick open above the upper trend line.
Lastly, my favorite, NZD/USD
2 signals:
1. Buy when the price break the upper horizontal line.
2. Buy when the price reach the lower horizontal line.
Target Profit and Stop Loss are up to your discretion :p
That's all for the time being, thank you for visiting :)
Weekly Wrap and Trading Performance $_$
Yosh!
First, it seems like this week my trading ideas gave me (and any of you guys who follow the ideas) some nice green pips $_$
Refer to previous post and then check current price of each pair. However this does not mean my future trading ideas will become profitable because previous performance does not guarantee future performance.
Second, last 4 weeks I opened a new account when doing live trading with one of my students and below is my current performance on that account. Other accounts? Nah, won't put here, dream on :p
Starting balance: $100
Current balance: $142
ROI: 142%
That's all for the time being. I'll put my trading ideas when I see any trading opportunities.
Thank you for visiting :)
Trading Idea o.O
Yosh!
I have two trading ideas for this week $_$
NZD/USD
2 signals:
1. Go long (buy) when the first candle stick open above the trend line.
2. Go long (buy) when the price reach the horizontal line.
EUR/USD
2 signals:
1. Go long when the first candle stick open above the upper trend line.
2. If the price break the lower trend line and open a new candle stick, then let the price moves lower a few hundred pips, then go long.
TP and SL are up to your discretion.
That's all for the time being, thank you for visiting :)
Weekly Wrap o.O
Yosh!
I have few things to say today, first, refer to previous entry, my trading idea. Seems like it has become profitable $_$
To those who set buy stop @ 0.5348, if you put your TP lesser than 40 pips, then you earn some nice pips there. Also to those to set buy limit @ 0.5258, right now, if you didn't set any TP, your position is positive right now $_$
Second, thank you to those who contacted me to join my forex trading personal coaching. Last week I did one session and an additional class for a student who joined the personal coaching last year. Next week, I have no idea, but on December 15, I'll have one session. If you are interested feel free to contact me.
Third, Happy Hari Raya Aidil Adha to all visitors :)
That's all for the time being, thank you for visiting :)
This Week's Trading Idea o.O
Yosh!
There's a good news and a bad news for me this week. The good news is NZD/USD dropped early this week. The bad news is now the pair is not trending, look the chart below:
So my trading plan is simple, buy when the price breaks the upper line or buy when the price reach the lower line :)
Stop loss is up to your discretion, take profit is around 10-100 pips, pick you magic number :p
That's all for the time being, thank you for visiting :)
Fundamental Analysis Article: Who's Right—Consumers or Manufacturers?
Yosh!
I'll put my trading idea(s) later. Here I have an article by Andrew Busch, Global Finance Strategist of BMO Financial Group - Who's Right—Consumers or Manufacturers? Copy-and-pasted from here.
The data out over the weekend has been uniformly terrible except for US retail sales. Starting in South Korea, they announced that exports were down 18.3% vs 11.1% expected. This is significant as SK exports mainly (over 75%) emerging markets. This means demand is falling off a cliff from these countries and calls into question whether they can lead the global economy out of its recession. Further substantiating this development, India announced at 12.1% drop in October exports.
In synchronicity, the global purchasing managers reports (PMI) are consistently a disaster. The November Chinese PMI sank from 44.6 to 38.8 as export orders collapsed. This is the largest drop in the index's brief history and indicates that China's export markets (Japan, US, and Europe) are in a serious recession. While several Chinese government officials attempt to keep a stiff upper lip and talk up next year's prospects, President Hu Jintao has said that the economic situation is a test of the Communist Party's ability to govern.
If you want to read further (another 4 paragraphs left), you can visit here.That's all for the time being. Thank you for visiting :)