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myfxpedia : Daily Signals and Strategies

PostPosted: Fri Nov 23, 2012 11:09 am
by Amelia
23 Nov 2012 Daily review by myfxpedia.com:


Happy Thanks Giving to all, especially to anyone of you living in the US.

As the people in the US is having a Thanks Giving day and so we probably will have another quite day during the NY session again as most Institutions only work half day and/or head for the long weekend.

The notable movements in the currency market yesterday was the Euro which as I said yesterday, Traders are putting their hope on the Euro Groups Summit sorting out aid for Greece. As for the Yen which also put on the lowest level since last April and that was due to speculation that the upcoming election in Japan will be won by the opposition for which the have pledge to have unlimited monetary stimulus. Anyway, I think traders is running too far ahead and a pullback is a start to take effect.


Impact News today:


04:00 am (NY) EUR – German Business Climate; All day Economic Summit
08:30 am (NY) CAD – Core CPI.


Technical analysis:


We are still Holding Long GBPUSD and Short GBPJPY.

Follow up from yesterday update on GBPJPY. We now had 7 days straight up move. And with yesterday candle which close with a long bearish tail candle suggesting of possible reversal is taking place. In a strong trend, a reversal or consolidation is usually takes only 2 or 3 days before resuming the trend. This pair is obviously has been in a strong uptrend over the last 7 days so We will only look for a pullback, probably, to a retest of the breakout of the Channel. See chart below.

GBPJPY – Daily.



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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

Re: myfxpedia : Daily Signals and Strategies

PostPosted: Wed Nov 28, 2012 12:00 am
by Amelia
Monthly Summary:

Number of Trades: 23
Winning Trades: 20
Losing Trades: 3
Total Pip Gain/Loss: +840.3



Yesterday:


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Yesterday Pip Gain/Loss:+40.0


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28 Nov 2012 Daily review by myfxpedia.com:

The resuming of negotiation between the Democrats and the Republicans on fiscal cliff has once again trigger the nerves of traders as seen overnight during NY session.

Despite the good news Core Durable Goods Order and a jump in Consumer Confidence in the US the market dropped significantly on comments of Senator Harry Reid which stated that the talks have made “little progress”. Furthermore, there were mud throwing at each other as Senator Mitch McConnell ripped into President Obama for not just promoting his tax agenda through tech but also planning to hit the road to rally support.

In the view of traders this negotiations is truly going nowhere for the time being and it seemed as though the law makers were busy having sling shots at each other instead of negotiations to come up with a compromise on both side to avoid the cliff. Oh well, just as frustrated as it seems, let us all say.....there’s the cliff – Jump. (Joking).

The market dropped last night and so was the risk currencies, namely the AUDUSD which dropped ½ cents (50pips) from yesterday high on the negative comments.

Talk about the AUDUSD that currently is the hottest currency around due to higher interest rate which then attract traders to bank or buy into AUDUSD using Carry Trade (borrowing money from other country with low interest rate and deposit/convert into currency that pay higher interest, for example: borrowing Yen at almost 0% interest and bank in AUDUSD that own 3.25% interest).

Although the Aussie dollars being enjoying the stellar run over the past decade, it is, in my personal opinion is not sustainable for the Australian economy. Surely, the Aussie economy cannot be immune from the global melt down and currently we are seeing global competition in trades, as evident with many countries weakening their currencies in order to revive their economy through exports (A notable country that we have seen doing over and over again is Japan and for Christ sake, they even talks about currency assassination (Yen) with unlimited QE). So, what’s good for Australia if you cannot export your goods due to high Aussie dollars and yet with higher dollars will also lure away many of tourists coming into Australia and so tourism industry will certainly take a big hit also if the Australian Government, namely the RBA, not doing about it.

Now, going into December, next Tuesday we will have the RBA meeting on Rate decision. Last month they decided to keep rates steady at 3.25% and that give a big boost to the Aussie dollars. So, will they cut interest rate this time round just to give tax payers a little relief to enjoy Xmas? Well, I stick my neck to say they will cut interest rate this time round. Note also that the next RBA meeting after December meeting will be schedule on the 1st Tuesday of February. There’s no board meeting in January.

Impact News today:

10:00 am (NY) USD – New Home Sales
12:15 pm (NY) CHF – SNB Chairman Speaks
07:00 pm (NY) NZD – Business Confidence

Trading Positions:

Yesterday trade EURUSD
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We also miss out on our second Pending Sell Limit on AUDUSD by about 5 pips. Chart below.
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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

29 Nov 2012 Daily review by myfxpedia.com

PostPosted: Thu Nov 29, 2012 5:43 am
by Amelia
Monthly Summary:

Number of Trades: 25
Winning Trades: 23
Losing Trades: 3
Total Pip Gain/Loss: +885.6



Yesterday:

Yesterday Pip Gain/Loss:+45.3


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29 Nov 2012 Daily review by myfxpedia.com:

Traders are currently looking for, listen out to any positive spins from the authorities just to move the market and ignoring the fundamental truth of the economy. This was shown from prices action yesterday.

During the European session, majority of risk currencies was under downward pressure and this downward pressure carried on into the early US session. We saw commodity such as Gold, Silver and Oil taking a nose dive. Then came the New Home Sales release in the US which fell significantly, way below analyst estimate. But then, by about 10:30 NY times, Republican Senator Boehmer came out saying that he is optimistic that a deal with President Obama can be reached. Wow, next thing you know was like a rocket being stuck under the risk currency, namely the Aussie, the Pound and the Euro.... Senator Boehmer, what a bummer.

On the other side of the continent, Fitch rating agency also came out to warn France of its triple A rating status could be downgrade early next year if the fail to work on its debt reduction but this does not deter traders from the optimism view of Senator Boehmer which saw shares in European closing mixed, paring losses earlier in the day.

On a final note , just be careful with this hype in hope of rally. It could prove to be short live and let me tell you the reason for my arguments: Ok, suppose we have the fiscal cliff avoided but then the implementation cannot happen overnight and so the due process will take sometimes to actually implemented. Also, as President Obama have been advocated of taxing the rich and so will the riches, the Investment Funds will have to try to avoid being tax more when a new fiscal policy kicking in? What I am saying is they will use this hype and push the market along, watching it rally and then when they smell of fishy policy that’s going hurt their bottom line about to be enforce, surely, they will sell out their holdings, stocks, options what have you, just to avoid from paying higher tax. Off course, this rally could also prove to be a genuine rally but I just can’t help being a contrarian and believe me this sort of contrarian thinking have many times save me from banging my head to the wall.


Impact News today:

05:30 am (NY) GBP – King Speaks
08:30 am (NY) USD - Prelim GDP; Unemployment Claims
10:00 am (NY) USD – Pending Home Sales.

Trading Positions:

We are now only 2 days away from end of November and with a considerable good pips gain for the month, although not as spectacular as last month where we gained 1432 pips but we are not far from it.

Yesterday I added on another small short position on AUDUSD as I do not believe this rally is genuine when we have commodity being smash across the board and the Aussie economy is the resources base and so when the technical prices rally that is not in sync with the fundamentals I stand to chose the fundamental as reality will eventually come back and bite a big chunk out of the Aussie. Also, next week, Tuesday, we will have the RBA decision on Interest Rates. You know my thought on it.

We also traded EURJPY yesterday for a small gain during Asian sessions. Below is the chart of EURJPY with explanations of to why I took the trade.

EURJPY - H1
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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

Re: myfxpedia : Daily Signals and Strategies

PostPosted: Mon Dec 03, 2012 1:09 pm
by Amelia
Monthly Summary:

Number of Trades: 27
Winning Trades: 24
Losing Trades: 3
Total Pip Gain/Loss: +938.8



Yesterday:

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Yesterday Pip Gain/Loss:+ 53.2

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03 Dec 2012 Daily review by myfxpedia.com:

First day of the month and last month of the year folks and before I go any further I just want to add words of caution regarding trading for this month.

Since this is the biggest festive season month around the world and many of institutions, banks are winding up for the year as we head for Xmas and New Year. As we approaching Xmas the trade volumes will be dropped significantly and trading condition will be very erratic. It is therefore not to trade with guts feel and not being trigger happy as those sort of behaviours will sucks up your trading capitals so quickly before you know it. The erratics that I am talking about is the jumpy behaviour of prices movement and the spreads that can be so wide that you might have not seen before that can trigger your stop and take you out of the trade even the actual prices have never been there. So, please trade with caution and if you ever feel the need to trade, my advice is – better not to trade at all and if you have to have a pulse on the market then it is better to trade with small lot size and widen your stop but keep it within your risk parameter. Best of all – Stop Trading a week before Xmas and enjoy Xmas, New Year with your love ones and come back on the 2nd week of January when markets fully functions. Remember, market is always there for you to trade so only trade when the market condition is ready and you are feeling good and ready.

Now let see what do we have in store for the market over the coming days?

In the US, Jobs reports, the Non-Farm Payrolls and the Fiscal Cliff negotiations will be of focus and prices of USD be certainly be dominated by those news. Out of all those sensitive news the fiscal cliff negotiations will certainly play a key part in day to day news of likely outcome. So far, the negotiations has go nowhere but traders/investors alike will look out for with much anticipation of all to speculate on prices. While in Europe, the ongoing saga of Greece debts, bailout funds will not going away anytime soon. Although we had agreement of bailout fund to Greece from the European members, it is not certain until Greece actually being hand out with the funds.

In Asia, Japan is getting closer to have its crucial election and it seems riskier to actually short the Yen pairs as of now from the survey they do expect the opposition to take over the reign and they, opposition, have many times put forward of their intention to assassinate the Yen with unlimited QE.

In Australia, in the early Asia trading session we had have dismal Retail Sales, horrible jobs ads and the AUDUSD tank 33 pips on the news in an hour and traded below 1.0400. The sinking would have been worse if traders were not expect of better Manufacturing figure to come out of China in the next hour. As expected, the Manufacturing figure came out of China painting a much improve condition in the Chinese economy, the AUDUSD quickly change course and at time of writing (typing) the prices of AUDUSD traded at 1.0418.

In my personal opinion, and I have many time saying it over the last week or two, I tend to the view of RBA to lower Interest Rate tomorrow and today from the release of Retail Sales and Jobs ads has reinforce my view. Ah well, We just have to wait and see.

Impact News today:

04:30 am (NY) GBP – Manufacturing PMI
10:00 am (NY) USD – Manufacturing PMI
07:30 pm (NY) AUD – Building Approvals
10:30 pm (NY) AUD – Cash Rate; RBA Rate Statement.

Trading Positions:


Last Friday, in the early London session we exited our positions in AUDUSD for nice profit. We then put in a pending sell order as we expected prices to retrace before resume the down trend. We were right, prices did retrace and resume the downtrend but, guess what? We missed it by a hair of a margin. Our pending sell order stands @ 1.0448 and prices went up to 1.04466. If any of you were at the terminal and took on the trade. Well done.

I now have 3 orders in place for this pair. From price action this morning and with momentum being oversold on H1 I look for prices to retraces toward the MA20 on H4 before resume the downtrend. I might consider to lower my entry number 1 if I see the downward pressure is strong. Attach are daily and H4 and H1 charts. Enjoy.

AUDUSD Daily

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AUDUSD H4
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AUDUSD H1


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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

Re: myfxpedia : Daily Signals and Strategies

PostPosted: Mon Dec 03, 2012 11:19 pm
by Amelia
Monthly Summary:

Number of Trades: 2
Winning Trades: 1
Losing Trades: 1
Total Pip Gain/Loss: +13.3



Yesterday:


Yesterday Pip Gain/Loss: +13.3

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04 Dec 2012 Daily review by myfxpedia.com:


The Euro suddenly came back to life and kicking hard yesterday breaking above the psychological barrier of 1.30. Is this rally genuine? So let dissect into yesterday news and see what the reason behind the rally:

Firstly, we have the Greece government came out offered to buy back Bonds with expiration on the offer by 7th December. Although the offer of buy-back is somewhat about 60% haircut to the original Bond rate and yet the market rally due to better than market expectation. Oh, am I missing something? Is it the haircut to the initial Bond rate and the market love it....geez, Mr. Market must have expecting of getting nothing out of Greece. For that I just can’t wait to see the next round of Greece Bond auction, just wondering any gutsy investor(s) out there would buy into Greece Bond in the future? Ah, I forgot, maybe the European Central Bank (ECB) would smilingly put up both hands.

Next, came Germany Chancellor Angela Merkel opens up the can of worm, saying that Germany may ultimately accept a write off on Greek debt. Wow, what an astute investor decision that is, I cannot think of any sound investor would even contemplating of thinking about lending money to a debt ridden country or person and then announcing of probable writing off in near future. This surely can only be done by politicians since it’s not their hard earn dollars, ultimately, it’s tax payers money that they are dealing with. I just am gobsmack.

Finally, we have Spain coming out asking the ECB to bailout their banks and the euro rally some more..hahahaha. Note, Spain only request for bailout on their distress banks and not sovereign bailout. I guessed if it was actually the sovereign bailout request was make the euro would rally much harder. Damn, this is truly confusing for my cumquat little brain and so I thought...if one day Italy and then France came out requesting for bailout then the euro will probably shoot over the roof and out into the un-chart territory. Damn, that must be exciting.

Any, it just too hard to dissect into this awkward behaviour for my little cumquat brain and so we leave it there. I suppose the only thing we can do is to manage our trades and be patience until opportunity arrived and in the mean time we just have to sooth ourselves such that, the market can be irrational at time and the irrationality can be much longer than one’s pocket can bear.

At time of writing we are now only 2 ½ hrs away from the Reserve Bank of Australia Rate decision and I guess you all know my view on this as I have said it so many times in my daily updates. The only cloud that I can see that would make the RBA members to think twice in dropping rate was the much improve China Manufacturing report that released yesterday. Well, we just have to wait and see. It’s either our short positions in AUDUSD and AUDNZD will turn into candy or lemons, we will know in about 3 hrs time.

Impact News today:

03:00 am (NY) EUR – Spanish Unemployment Change
04:30 am (NY) GBP – Construction PMI
09:00 am (NY) CAD – BOC Rate Statement; Overnight Rate
07:30 pm (NY) AUD – GDP

Trading Positions:

AUDUSD – H4. This pair is currently being under short term downward pressure and trades within the downward channel. We took an initial short position yesterday.


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AUDNZD –Daily. This pair has been in a major downtrend since November 2011. It reached the low 1.2370 in last October 2012. This low has not been retested to confirm actual low. Over the last 2 weeks it has showing sign of weakness and upon break the upchannel to the downside will ultimately seeing the pair retesting the last low.


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EURCAD – H4. Yesterday we took an early entry (although, we already have a higher pending sell order) due to initial price behaviour at the 1st resistance (eclipse). Unfortunately, with much “excited” news came out of the Euro zone the prices continued its upward momentum and also triggered our initial Pending Sell limit that has been set sometimes last week. From chart below, you can see that prices is well extended on the 4 hr chart with momentum being overbought as well as showing Negative Divergences on H4 and H1. We will look initially for price to pull back to the 3rd degree uptrend line as target 1.


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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

05 Dec 2012 Daily review by myfxpedia.com:

PostPosted: Wed Dec 05, 2012 4:09 am
by Amelia
Monthly Summary:

Number of Trades: 2
Winning Trades: 1
Losing Trades: 1
Total Pip Gain/Loss: +13.3



05 Dec 2012 Daily review by myfxpedia.com:


Well, I was right all along for the last 3 weeks or so saying the RBA will cut Rate in December but then the Cut did not far enough to even cut through the tofu and that reflect in the rise of the AUD after the new released. The decision to cut rate was a right decision but it just a bit too late and not deep enough for the Australians to actually go out spending for Xmas and New Year. I suspect the RBA is playing the game of wait and see approach. Just as I have said yesterday there was sign of recovery in China on better than expect Manufacturing report and so the RBA keep their head in the sand, blocking their ears from the struggling average Australians as well as suffering businesses that has been calling out to Government to do more to save businesses to stay in Australia.

This early Asian session when listening to the Radio 2GB and the interview of Australian Treasurer Wayne Swan and when he said that the Australian economy is sound and strong and is resilient to the world economies turmoil I could not believe it. Where in the world is the Treasurer live in? He must be living in Wayne World I supposed. Dear Mr. Wayne Swan, Please get down to earth, particularly Australia, and see the battlers, the companies that is going out of businesses. Within this year we had have Darrell Lea Chocolates, an 87 years old company has to call in Administrations, then Colorado retailers and last week we had Rosella, an Australian icon of about 130 years old going into receiverships. And what about mining companies that has to shut down mines because it’s no longer economical to dig up. Anyway, final word, Get away from your Wayne World and meet the reality hey.

As I type, we just have the Aussie GDP figure came out that is 0.5%, that is below forecast. So far this week, news from Australia is showing cracks in the Aussie economy. Early in the week we had a drop in Retail Sales; big dropped in Building Approvals, a Rate cut and now less than expected GDP. Let see what tomorrow during Asian session will bring with the Australian Unemployment Rate.

In Europe, the pound retreats a little after the fall in Construction PMI news while the Euro charging on from the optimism of Greece quick fix.....I must be dreaming.

In the United State of A. The main concern and look out for any beats is the Fiscal Cliff negotiation between Democrats and Republicans – so far, it’s go nowhere.


Impact News today:

04:30 am (NY) GBP – GDP Service PMI
07:30 am (NY) GBP – Autumn Forecast Statement
08:15 am (NY) USD – ADP Non-Farm Employment Change
10:00 am (NY) USD – Non-Manufacture PMI
03:00 pm (NY) NZD – Official Cash Rate
07:30 pm (NY) AUD – Employment Change; Unemployment


Trading Positions:

Today I would like to put again the Daily chart on AUDUSD. See explanations on chart.

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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

06 Dec 2012 Daily review by myfxpedia.com

PostPosted: Wed Dec 05, 2012 11:39 pm
by Amelia
Monthly Summary:

Number of Trades: 7
Winning Trades: 6
Losing Trades: 1
Total Pip Gain/Loss: +143.3

Yesterday
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Yesterday Pip Gain/Loss: +131.0

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06 Dec 2012 Daily review by myfxpedia.com:


Instead of recapping of what going on around the financial markets, today let us talk about our Trade Management as It has brought to our attention that some of the members are curious in regarding to the way we manage our trades.

First and foremost we are Professional Traders, we trade for a living and above all we don’t dream of hitting Jackpot overnight or getting rich in a short period of times. It’s impossible for that to ever happen to anyone that claim as Trader., believe me, it’s a long winding road.

As Traders, we at myfxpedia are strictly adhered to our Risk Control as we understand to have a successful business we must therefore have a sound Risk Management. With that in mind, we so far has never risk more than 5% of our Trading Capitals, for the records, our Draw Down, up to now has never exceeding 3% even when we hold more than 5 positions at any one time. Normally, we try to have only 4 trades open at any one time, beyond that, it’s just too intensive to manage. But, sometimes our Pending orders got triggered and thus we have more than the desire number of open trades. As soon as we have more than 4 open positions we will immediately assessing the situations and scaling back on our holdings to bring it back to a manageable numbers as we do not want to have ourselves ballooning our Risk parameter. Sometimes, it meant we have to close the positions and took profit a tad too early, so be it.

Here at myfxpedia, we are being realistic and only aiming for a return of + 3% of profit per month, that equate to over 36% per year. That let me assure you, no banks or financial institutions would give you that kind of return, especially during this calamity of financial debt being built up around the world. With aiming of 3% plus per month we have so far achieve that target consistently over the last 5 months since we go public and have our records verified.

So, if you follow our signals and happy with 3% plus profit per month then don’t feel bad if we don’t milk all the pips that we supposed to have got. In hindsight, it was not a good decision to have close a winning position too early but then who would say that it won’t turn and go against us. Remember, we can’t control price movement, the only thing that we can take control of is our Money Management and ultimately, Capital Preservation with sound Risk Control, culminate with well thought out trading plan is the only way to stay in business, especially, when you trade for a living.

As a Professional Trader, we trade with the notion of: No Greed, No fear.


Impact News today:

03:15 am (NY) CHF – CPI
07:00 am (NY) GBP – Asset Purchase Facility; Official Bank Rate
07:45 am (NY) EUR – Minimum Bid Rate
08:30 am (NY) CAD – Building Permits
08:50 am (NY) ECB Press Conference
08:50 am (NY) USD – Unemployment Claims
10:00 am (NY) CAD – PMI
07:30 pm (NY) AUD – Trade Balance.



Trading Positions:

Yesterday, during the NY session, at one point we were holding 7 opens positions. We then immediately did our best to scaling down the numbers of open positions. We finally closed 4 positions with 1 position AUDNZD which now looked as though it was a bad decision to bank profit too early. The reason, aside from our explanation above, was the fact that NZD will have a high impact news to be released and since we are no “news” trader we chose to bank our profit and stand on the sideline.

Below is the chart of AUDNZD – H4 for which we banked our small profit. The decision arrived when prices were at major uptrend line support and high impact news pending. We exited.

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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

07 Dec 2012 Daily review by myfxpedia.com

PostPosted: Thu Dec 06, 2012 11:09 pm
by Amelia
Monthly Summary:

Number of Trades: 10
Winning Trades: 8
Losing Trades: 2
Total Pip Gain/Loss: +160.7

Yesterday

Yesterday Pip Gain/Loss: +16.4

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07 Dec 2012 Daily review by myfxpedia.com:


After more than 3 weeks of stacking up a pre-Xmas rally (on stocks and risk currencies) on hope of Fiscal Cliff in the US will eventually be solved before the New Year and, adding on to the rally was the optimism on Greece inititive in curbing its ballooning debt. The market has eventually taking a breather yesterday with most of risk currencies shredding off their gains earlier in the day during the ECB President Draghi speaks.

The currency market volatility has been boiled this week and I suspect it will continue into next week before everyone packing up for Xmas and New Year celebration. As time running out for the Fiscal Cliff issue to be resolved there will be traders who probably will bank their profits before heading for holiday if there isn’t any genuine deal being cut between the Democrats and the Republicans. As we get closer to the 15 December and with no definite solution the markets, the risk currencies could be in for a nasty surprise, that is a sharp fall in the markets and along with it are the risk currencies.

As always the first week, first Friday of the month we have slew of high impact news the currencies can go either way depending on the result of the news released. The highly traded news of all, once a month, is the Non-Farm Payroll that takes place at 8:30 am NY session. Unless you are news driven trader I advise you to stand on the sideline, turn off your screen and have times out with friends, family.


Impact News today:

03:00 am (NY) CHF – Foreign Currency Reserves
04:30 am (NY) GBP – Manufacture Production
05:00 am (NY) EUR – ECB President Draghi Speaks
08:30 am (NY) CAD – Employment Change; Unemployment Rate
08:30 am (NY) USD – Non-Farm Payroll; Unemployment Change
09:55 am (NY) USD – Prelim Consumer Sentiment.




Trading Positions:

We re-entered NZDUSD short position base on H4 Candle formation when prices being rejected and the Major Resistance, also Prices at top Channels. We will look for prices to initially pullback to the bottom of the sub channel as target 1 (which also is about the 20MA support)and target 2 is the bottom of major up channel on Daily chart. We entered with reduced lot size and wider stop but keep our risk parameter the same.

NZDUSD – Daily

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NZDUSD – H4

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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

11 Dec 2012 Daily review by myfxpedia.com

PostPosted: Tue Dec 11, 2012 4:50 am
by Amelia
Monthly Summary:

Number of Trades: 10
Winning Trades: 8
Losing Trades: 2
Total Pip Gain/Loss: +160.7

Yesterday

11 Dec 2012 Daily review by myfxpedia.com:


Yesterday was a range bound trading in the FX market as there were lack of impact news and as times pass, Traders are on edges as optimism on the Fiscal Cliff will soon be resolved.

The only new during the weekend and early Asian session that would have carry some weigh would have been the resignation of Italian Prime Minister, Mario Monti. Then guess what? Silvio Berlusconi, a colourful ex-PM of Italy just about 14 months ago came out putting his hand up wanting to run for Office again. With this sort of new under normal circumstances would have speculate on the market regard the Euro as we all know Berlusconi with his colourful remarks to the German Chancellor, Angela Merkel, regarding her sex appeal.....hahahaha...”we are going to have another bunga bunga party and you are not invited Angela” – Just Joking.

Anyway, the market was mute about the news yesterday as we suspect all eyes and ears are now looking and listening out for what Bernanke has to say on Wednesday in regarding to the Fiscal Cliff and what the FED can do in their power to support the market. We recalled from last month FED meeting Bernanke had actually stating somewhat that the FED has very limited ammunitions if Fiscal Cliff isn’t resolve. This time around he probably will be more blunt on the issue which could in turn spook the market for a sharp sell off before we stack up for an end of year rally.


Impact News today:

05:00 am (NY) EUR – German Economic Sentiment
08:30 am (NY) CAD – Trade Balance
08:30 am (NY) USD – Trade Balance
11:30 pm (NY) AUD – RBA Governor Glen Stevens Speaks.


Trading Positions:

We are in an extreme difficult period for trading as volumes start wearing thin and the nervousness on impending news is agonising. In brief, market currently does not have define direction and with this sort of uncertainty as we are heading for the Festive season we just have to control our risk, not to greedy for profit or fear of losing. We have to learn to be happy with our profit and cutting/accepting loss as Mr. Market allows us.

Remember, in this Trading Business, The Winner is the Best Loser. Such a oxymoron statement but hold true to the core when comes to think of it – The Winner is the one that cut loss early and therefore is the Best Loser as you lose the least when market goes against you.

The AUDUSD Charts below illustrate our positions. We have now scaled down our stop @ 1.0520 and also lowering our profit target as market condition has now change.

AUDUSD – Daily.

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AUDUSD – H4

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The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.

11 Dec 2012 Daily review by myfxpedia.com (reupload picture)

PostPosted: Tue Dec 11, 2012 5:11 am
by Amelia
AUDUSD Daily

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AUDUSD H4

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