myfxpedia : Daily Signals and Strategies

[myfxpedia]

Dear members,

 

I post a new daily signal and strategy thread to share my experience with everyone. This thread will be updated daily 2 hours prior London open.

 

Thank you and as always

 

Happy Trading,

 

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.

 

 

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.

[myfxpedia]

06 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary:

Number of Trades: 7

Winning Trades: 6

Losing Trades: 1

Total Pip Gain/Loss: +143.3

 

 

Yesterday

 

 

Yesterday Pip Gain/Loss: +131.0

 

 

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.

 

 

 

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.

Edited December 6, 2012 by myfxpedia

[myfxpedia]

07 Dec 2012 Daily review by myfxpedia.com

 

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

 

 

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

 

 

 

 

NZDUSD – H4

 

 

 

 

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.

[ForexMike]

Why are you showing cut off charts? I see mid Nov, end of Nov, beginning June and October charts...this is 1st week of December.

 

You also claim two daily signals and show no entry signals in any of your postings.

Edited December 7, 2012 by ForexMike

[myfxpedia]

11 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary:

Number of Trades: 10

Winning Trades: 8

Losing Trades: 2

Total Pip Gain/Loss: +160.7

 

 

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.

 

 

 

AUDUSD – H4

 

 

 

 

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.

Edited December 11, 2012 by myfxpedia

[myfxpedia]

Sorry for your inconvenience. Because of big size picture, it can not show all. Today I resized all pics.

 

Happy trading,

Why are you showing cut off charts? I see mid Nov, end of Nov, beginning June and October charts...this is 1st week of December.

 

You also claim two daily signals and show no entry signals in any of your postings.

[ForexMike]

Sorry for your inconvenience. Because of big size picture, it can not show all. Today I resized all pics.

 

Happy trading,

 

Thank you my friend

[myfxpedia]

12 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary:

 

Number of Trades: 15

Winning Trades: 8

Losing Trades: 7

Total Pip Gain/Loss: -243.1

 

Yesterday

 

Yesterday Pip Gain/Loss: -278.2

 

12 Dec 2012 Daily review by myfxpedia.com:

 

 

 

At start the European session yesterday we got the unexpected growth of German Zew index that help boost the Euro to the upside and then came the confirmation of the Swiss National Bank that will charge interest on the money deposited and this again help the cross pair EURCHF further. Beside that there was no actual exciting news that paint a rosy picture at all for the global financial market.

 

In fact, we had much worse news than first thought but market just ignored any depressing new for the time being. It’s Xmas probably. Anyone think this market is being manipulated? Here, we have US trade deficit being widen up to 4.9% to $42.2 Billion, yet market rally. Oh well, they are under a mountain of debt anyway so a little more would mean nothing to anyone, I suppose.

 

Personally, I do think the market is being manipulated and it does seem as though a perfect storm is in the making and over the coming months, I say within 3 to 6 months time we are going to have a crash or at least a deep correction before a monster crash brought upon us. Well, let see what the next 6 months bring.

 

 

Impact News today:

 

04:30 am (NY) GBP – Claimant Count Change

12:30 pm (NY) USD – FOMC Statement; Economic Projections

02:15 pm (NY) USD – FOMC Press Conference

 

Trading Positions:

 

We were stop out of our long in AUDUSD, the prices is very extended but because of trading condition for this festive season is very unpredictable so We rather cut our lost and patiently wait for prices getting to the extreme level then we will rejoin. As we have many times saying that this December month trading is very unpredictable and it’s getting worse as we draw near Xmas. So, remember if you have to trade for whatever the reason, only trade with small lot sizes and prepare to widen your stop as the spread will certainly wider than you ever seen.

 

Below are charts of NZDUSD. This pair has been over extended and at around this level and up 86 level which we would identify as a Terminator Zone. So, we are sell into this pair base on Divergence on H4. I have another pending sell order in which it could have one more leg up on H1 to create a Negative Divergence with over bought on H1 which in turn will be in tandem with H4 for a down turn.

 

 

NZDUSD – Daily

 

NZDUSD –H4

 

 

 

 

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.

[myfxpedia]

13 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 15

Winning Trades: 8

Losing Trades: 7

Total Pip Gain/Loss: -243.1

 

13 Dec 2012 Daily review by myfxpedia.com:

 

The only news that actually move the FX market yesterday was from the FOMC statement and the speech of Big Ben. Ironically, the market was actually excited to know that the FED willing to go further into debt and keep that printing machines going without any indication of when to stop. Wow, that’s surely a good piece of news, get my drift? You see, they are in a deep hole of debts and the only way that they can think of to get out of that tunnel of debts is to dig a deeper tunnel of debts, then there they might find some lights on the other side of the tunnel. Such thinking shouldn’t it deserve Nobel Prize anyone? But then, who cares, obviously Mr. Market doesn’t care.

 

To sum up of what big Ben had said yesterday:

 

1) Interest Rate stay low, closer to zero until at least 2015

2) Reiterated that they had been buying $40 billions/month of mortgage back security. In turn, we see a boost in housing prices

3) Will start buying $45 billions/month of Treasury Bonds that is buying back their own debts

4) A rosy picture being painted of growth and expect growth of 2.3% to 3% and will rise to 3% to 3.5% in 2014.

5) Stern warning to the White House of Fiscal Cliff such that the FED has limited room to move, in other words, no ammunition to offset the damage if Fiscal Cliff isn’t resolve by the deadline.

 

Just to see how jumpy traders are we can observe through the S&P index – as soon as the words Fiscal Cliff mentioned and came the warning from big Ben the S&P wiped out all of its gained early in the day to close in the red.

 

Anyway, what we can see is that the market has been boiled with optimisms around Fiscal Cliff being avoided and so the run up in equities and risk currencies. So, now we have the market being stretched, risk currencies being extended to the upside. It certainly looks like a set up for perfect storm and we believe the big player with smart money are lurking around waiting for any sign of surprise to pounce on.

 

Let us look at a few majors and strategise of how to play or look out for, for this festive seasons:

 

CAD - It is vulnerable and is depends on US demand, also, its economy is showing sign of weakness.

 

EUR – The situation in Europe is still in dire state and vulnerable to the downside. It is a very sensitive currency to trade as it is news driven: good news from US and Euro group will drive the pair higher but any bad news from US or Greece will see the pair running for cover.

 

JPY – In a risk off circumstances, JPY is still being considered as safe currency. Therefore, any sign of pessimism will support the Yen against USD while optimism will push USDJPY higher.

 

GBP – Mostly will be traded in an inverse relation to USDCHF, so this currency actually need the strength of the US market, in turn a weak USD.

 

NZD - This pair is more related to the US news than AUD.

 

AUD – Mostly depend on news from the Asia pacific countries, especially China but will also move in according to US news

 

Impact News today:

 

03:30 am (NY) CHF – Rates; Monetary Policy Statement; Press Conference

08:30 am (NY) USD – Core Retail Sales; PPI; Retail Sales; Unemployment Claims

08:45 pm (NY) CNY – HSBC Manufacturing.

 

 

Trading Positions:

 

Yesterday we added on another 2 pairs EURUSD and EURGBP as both triggered during big Ben speaks. Below are charts of EURUSD and EURGBP.

 

EURUSD – Daily.

 

 

EURUSD – H4

 

 

 

EURGBP – H4

 

 

EURGBP – H1

 

 

 

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.

[myfxpedia]

14 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 15

Winning Trades: 8

Losing Trades: 7

Total Pip Gain/Loss: -243.1

 

14 Dec 2012 Daily review by myfxpedia.com:

 

After six straight days of neglecting bad news and had risk on, the market finally break the bull stride yesterday as we had a risk off day. Well, it’s getting closer to Xmas and surely many traders that are heading for holiday, enjoying the festive season would probably want to keep their powder dry.

 

In the US news release yesterday, we have had better than expected news with the retails jumps and a drop in unemployment claims and yet this does not excite Mr. Market one bit, worse it went the other way. Geez, this is confusing, we rally on bad news and shy way on good news.......so true for the term “reverse psychology”.

 

On the other side of the continent, the Rating Agency, S&P, as according to CNBC came out with a revise outlook for the UK from being “Stable” to “Negative” and that has somehow put pressure on the Pounds as we can see the Pounds being weaken among the cross pairs.

 

In Asia Pacific region, in particularly, Australia, the Reserve Bank of Australia is being told by Central Bankers around the world RBA told intervention necessary to dampen $A | News | Business Spectator[/url] ) that if the RBA wants to lower the value of the Aussie dollars the only way it can do that is to seriously consider a heavy handed intervention since gradually cutting Interest Rate, perhaps closer to the level of other nations, which is almost close to zero will not do the job of stop the rise of the AUD. Gradually lower Interest Rate certainly won’t cut through the tofu, mustard...whatever have you, as we have seen that early in the month of December. It’s quite disturbing to know that, Officials from countries with bad banking system telling the RBA what to do when they can’t even manage their own banking system, maybe they have a point but damn, give us a break.

A few hours ago, reporting from CNBC that Senator Boehmer is on his way to the White House to meet President Obama. So, we would likely have some sort of new that would likely drive the market shortly or later today or by the weekend latest. In a nut case scenario, we don’t think Senator Boehmer just jump in a car for a drive to the White House, picking up President Obama and went for a drive hey, and drive they went....”off the cliff”.

Anyway, on a serious note, we certainly think that solution will be reach somehow, somewhat and then both parties would able to come out declaring victory. Note, the Fiscal Cliff solution is not the issue as there will be a solution, an agreement will be reach. The issue lies within the quality of the deal and an early deal without thorough assessment will only create havoc later on. So, if we are going to have an early limited deal just to calm investors/traders then the like reaction on FX market would be: a fall in USD and a relief rally on risk currencies initially and then the USD will be strengthen once again when market resume after New Year. As for Comprehensive deal is to be reach, we are not at all optimist that it could be finalised before the year end. Let leave it as that and see what they have to say about their get together today.

 

Impact News today:

 

03:30 am (NY) EUR – German Manufacturing

08:30 am (NY) USD – Core CPI.

 

 

Trading Positions:

 

Since we entered EURUSD yesterday, so far on the H1 it has formed triple tops. Prices currently building either a flag and then a down move. Or, it could retest the tops or even a bit higher to create continuous Negative Divergence then a down move. Chart below.

 

EURUSD – H1.

 

 

 

 

 

 

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.

[myfxpedia]

17 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary

[/color]

Number of Trades: 15

Winning Trades: 8

Losing Trades: 7

Total Pip Gain/Loss: -243.1

 

17 Dec 2012 Daily review by myfxpedia.com:

 

IF anyone follow the equities market and the FX market last Friday would have notice of big inverse correlation between the two. We have the S&P closing down or relatively unchanged while on the FX market we had a risk on day. The push higher in the FX market on the risk currencies took places just in the last hours of trading of the week. Call me sceptical if you wish but the way I see it is that this market has now being manipulated by the big boys, market makers and surely it was the best time to do it when there is less participants in the market and there is no high impact news, market was thin and so a few millions could certainly move this market and so the last few hours on Friday we saw a spike on the risk currencies that could concluded as “Stop” hunt.

 

Over the weekend we now have a reinstated of former Prime Minister of Japan, Shinzo Abe, who has been Prime Minister of Japan in 2006 and since then, Japan has had 6 Prime Minister changing hand. Could Abe be once again the saviour of the Japanese economics? He has been calling for further QE to weaken the Yen to boost the Japanese Export Industry. This theory of QE can be a double edge swords that could actually created a catastrophe to the Japan’s economy, it could potentially first creating a “bubble” in the Japan’s economy and as we all know: Bubbles do eventually Burst. And then they will go further into debts with the so call “unlimited” QE and then we probably will the Japan stand on the edge, a tipping point, a cliff and ultimately will lead to currency crisis. We just hope that will not happen for the sake of the Japanese people as they have already endure so much from the havoc of mother nature’s.

 

Anyway, with the news of Abe wining the Prime Ministership the market took the joys what has been expected to make a big gap up on the Yen pairs and then gradually being sold down, as I type it has came off from the open. So true for the fact of: Buy the Rumour and Sell the Fact.

 

Impact News today:

 

09:30 am (NY) EUR – President Draghi Speaks

07:00 pm (NY) NZD – Business Confidence

07:30 pm (NY) AUD – Monetary Policy Meeting Minutes.

 

 

Trading Positions:

 

With the one of the most anticipated news, which is also as expected, regarding the election of Japan over the weekend out of the way. We have an overly excited market that further weaken the Yen as soon as market open. The run up of the Yen since early last month has been much factor in the prices and today Gap up, as we see it, is the exhaustion Gap. Attaches are charts of 3 different time frames, Weekly, Daily and H4. All, showing prices has been way extended and due for pullback.

 

GBPJPY – Weekly

 

 

 

GBPJPY – Daily

 

 

GBPJPY – H4

 

 

 

 

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.

[myfxpedia]

19 Dec 2012 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 15

Winning Trades: 8

Losing Trades: 7

Total Pip Gain/Loss: -243.1

 

19 Dec 2012 Daily review by myfxpedia.com:

 

Just a quick update. We are only 6 days away from Xmas, so this is going to be our last post for the year.

 

There isn’t much change in the fundamental of the global economy except for the optimism on the Fiscal Cliff which We are getting so bore of talking about.

 

It seems that bull market is everywhere and they did stack up a Santa Rally really well. We just like to caution traders not to be suck in with this bull hypes as what we can see is the rude awakening just lurking around waiting for opportunity to smash this market lower.

 

Finally I just want to say: Trade conservative through this period with small lot size and use wider stop as big swing is imminent through this festive season.

 

Merry Xmas and Happy New Year to all.

 

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.

[myfxpedia]

9 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 11

Winning Trades: 9

Losing Trades: 2

Total Pip Gain/Loss: +641.5

 

9 Jan 2012 Daily review by myfxpedia.com:

 

Welcome back folks, We trusted that you all have had a wonderful festive season and has been freshen up for the year 2013.

 

First let us put up a quick summary of what we have achieved so far in 2012. Although we only start our service provider back in July 2012 and the end result for the last 6 months was very encouraging. In fact, we are very proud to have actually achieve an average of 800 pips per month with highest monthly gained so far stands at 1432 pips and 1 losing month of -186 pips. That said, we have achieved an average strike rate of 80% with a Draw Down have never exceed 3%. That Statistic is remarkable in anyone book don’t you think? The challenge ahead going into 2013 is to maintain that level of performance.

 

Going into 2013, we will do our best to maintain this wonderful performance and further strengthening our services to our members. We are currently working on trade manager software to personally manage client trading account with the same risk parameter as per our live trading account and our reward is purely base on our performance. This Performance fees is base on, says, 2% per month and that is if we don’t make 2% per month on our client account then we will get nothing and once we meet our target then anything above 2% is ours – that’s fair enough? Also, for your peace of mind you will get exactly the same trade as per our personal trading account with same risk parameter and so, if a trade does not go our way then remember we are the first to lose and believe me, we are professional traders, we trade for living. Many of our Certified live trading accounts can be view on our website or onmyfxbook.com or you can contact our services desk for more details.

 

Now let us run through of what to expect for 2013. We expect volatility in the market will rise in the first half of 2013. You see, many major issues in many countries has not been sorted out comprehensively: Greece debt is still at the unsustainable level while Europe is still struggling to come out of recession and the Fiscal Cliff deal reached early in the year is like a patch of band-aid; and unemployment around the globe is still a major issue with Greece unemployment currently at 26% and Spain isn’t far from it with 25% unemployment rate and from yesterday news release, the unemployment rate within the Euro zone stands at 11.8%.

 

From last November we have start hearing of Currency War, a race to debase one own currency just to give a kick to one own county economy. We have seen the US keeps its printing machines running at a dizzy pace, with $85 billion of ammunition pumping into this so called Currency War. While in Japan, with the reinstated of former 2006 Prime Minister Abe, who has been vocal about his intention to actually assassinate the Yen and thus value of the Yen has dropped significantly over the past 2 months. While in the Euro Zone, they have never launch an official QE, not yet anyway, and seems as though they have lost in the Currency War up to date but last month the European Union President, Draghi, did mention of his intention to push for lower interest rate to boost the economy and join in this so called Currency War. Thus, a cut in interest rate might soon happens.

 

In Australia and New Zealand alike, with the high Aussies and Kiwi are not at all rosy to their economies and present a big headache to the RBA and RBNZ. In Australia, with the mining sector is at the tip of the hill while businesses outside the mining sectors is struggling we might see the Australian heading into a full blow out recession over the coming years if the pullback in the mining sector gather speeds and higher Aussies dollars will certainly killing off many Australian exporters. Such is an awful way to kill an economy, don’t you think? Now a day if you want to kill an economy, all you have to do is to push their currency up so high that will eventually hurt their export industry.

 

Ok, That’s enough for our very 1st post of the year and we once again wish everyone a Prosperous year and we believe with all the uncertainties for 2013 which in turn create high volatilities is the year to be a Currency Trader.

 

Cheers and Pips to all.

 

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.

[myfxpedia]

10 Jan 2012 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 11

Winning Trades: 9

Losing Trades: 2

Total Pip Gain/Loss: +641.5

 

10 Jan 2012 Daily review by myfxpedia.com:

 

The last few days markets, particularly the equity markets, are just sitting on edge, setting up as though it’s going to break to the upside but with lack of economic references traders and investors alike are trading very cautious. This can also be seen with most of the major currencies. They are trading in a very small range bound with downward pressure on the Pound and the Euro but have held up reasonably well.

 

The one thing we want to bring to your attention is not to be suck in into the fake rally, wait for confirmation. This sort of market condition and the set up seems as though the bulls are ready to roam and how many times in history that has turn out to be a disaster.

 

We all know there are investors sitting on the sidelines waiting for opportunity to get into the market and then just as soon as fresh money entering the market, more often than not, turn out to be the losing money. Just remember, what seems to be obvious isn’t always the way it will be.

 

Earlier in the Asian session we have got report on China Trade Balance which came out much better than expected and the risk currencies, particularly AUD switch on the bullish mode but still within tight range. Now with China good data hitting the market as well as other nation around the globes this could provide a hint that the RBA might just as well keep Rate on hold in early February and if Rate is to be on hold then it would not come as a surprise to see the AUDUSD ballooning to 1.06; 1.08 or even retest of the high created back in July 2011 at 1.1080. and believe it or not, that will create a big headache for the RBA if the AUD rise to the level back in July 2011. That would be a bitter sweet way of killing an economy in the midst of currency war.

 

Impact News today:

 

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

08:30 am (NY) EUR – ECB Press Conference

08:30 am (NY) USD – Unemployment Claims

06:50 pm (NY) JPY – Current Account

08:30 pm (NY) CNY – CPI.

 

 

Trading Positions:

 

EURGBP – H4

 

 

 

 

 

EURGBP – H1

 

 

 

 

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.

Edited January 10, 2013 by myfxpedia

[myfxpedia]

11 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 14

Winning Trades: 10

Losing Trades: 4

Total Pip Gain/Loss: +487.8

 

11 Jan 2012 Daily review by myfxpedia.com:

 

Such a volatility for currency market during the European session, especially after the announcement of rate on hold and add on to the optimism during ECB President Draghi speeches. Although nothing that he said is new to the market and the only thing that seems to be so important for optimistic traders was the President’s rosy view of the market later in the year. That’s being said, we just wonder would that be enough for traders to actually banking on his words?

 

We do think that the markets especially the Euro was overshoot itself yesterday. The President did say of recovery But that is later in the year, not now, not in this first quarter nor even in the 2nd quarter. If we look at the fundamental of the European market, there is a thing that has change, the unemployment figures within the euro zone has not improve one bit. The latest Greece unemployment rate is still at 25% and 50% for young people, same for Spain which also recorded unemployment rate of 25%.

 

Basically, we think the Euro dollar has been overreacted and traders exuberance is well and truly exaggerated. Having saying that we don’t mean to say that the Euro cannot go any higher and yes, it can still shoot up to 1.33/34 or even 1.35 just to clean out all the remaining shorts before heading lower for a retest of 1.27ish and could even head lower toward 1.20 if Greece issue popping out of the radar.

 

Impact News today:

 

03:15 am (NY) CHF – CPI

04:30 am (NY) GBP – Manufacturing Production

08:30 am (NY) CAD – Trade Balance

 

 

Trading Positions:

 

As mentioned above, we have the Euro dollars was under the rocket which we somehow stand in the way in the EURJPY and EURGBP pairs and coped the loss as prices overshoot and defy the bearish pressure. Well, that’s part of trading and one just have to learn to take losses along the way. We still hold the view that this pair is way overbought. It has ran for over 2400 (weekly chart) since July 2012 without any significant pullback. Yes, we are acknowledging that there is a generation shift in the Yen but in the short to medium term these Yen pair appear to be way overbought.

 

We currently hold GBPNZD (1 entry) @ 1.9035. We exited the early entry for 20 pips profit and put in a pending buy order at 1.9108 and early in the Asian session the prices did actually retrace to as low as 1.9103 but due to the spread were high early in the Asian session our account with AxiTrader did not trigger. If any of you out there have entered at 1.9108 then you are well truly in profit now.

 

Below is the chart of USDCHF which we entered during the European session yesterday: We entered on Retest of breakout level back in early January, unfortunately, prices went through the support during president Draghi speeches. Please notice from the chart below I have amended stop lost 20 pips below previous low created on 02 January 2013. On wave count on H4, we are looking for resumption of short term uptrend and creating a wave 3 up to at least retest of previous high.

 

USDCHF – H4

 

 

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.

[myfxpedia]

14 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 15

Winning Trades: 11

Losing Trades: 4

Total Pip Gain/Loss: +681.1

 

Yesterday:

 

 

 

Yesterday Pip Gain/Loss: +198.1

 

 

 

14 Jan 2012 Daily review by myfxpedia.com:

 

There isn’t much to add from the past trading week except for what we all knew about of the so call relief rally on risk assets after the Fiscal Cliff deal. Add on to the relief rally we have the bullish view came out of Euro Zone via President Draghi. Personally, we think they have actually underestimate the Euro Risk Crisis. Level head thinking we can see that with the US, they have big debt issues, however, it does not present a larger threat like the Euro Zone where insolvency and break up are the real possibility, they remain far from the light at the end of the tunnel. With current bullish sentiments It seems the Euro still have further to go, possibly toward 1.35 – 1.37 but in our view any push higher from this level (1.34) is a dangerous play for Long play. Remember, Sentiments as often than not always strike back.

 

 

Impact News today:

 

04:00 pm (NY) USD – FED Chairman Bernanke Speaks.

 

Trading Positions:

The All the Yen cross has been in the bull mode over the last 6 months without a stop for breather – 6 bullish monthly candle is just amazing. We don’t deny there is a generation shift in the Yen but the bullish run in a short period of time. What makes the EURJPY standout from other Yen pairs was the fact that we have short term bullish sentiment on the Euro couple that with bearish sentiment of the Yen. In our view this pair will be corrected over the coming days before the next leg up. Below we the weekly chart of EURJPY. We are trading this with the investor style where we will play with small lot sizes and wider stop.

 

EURJPY – Weekly

 

 

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.

[myfxpedia]

16 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 23

Winning Trades: 18

Losing Trades: 5

Total Pip Gain/Loss: +1,194.1

 

Yesterday:

 

 

 

Yesterday Pip Gain/Loss: +454.9

 

 

 

16 Jan 2012 Daily review by myfxpedia.com:

 

 

There isn’t much news early in the week this week beside of what we already aware of. What interesting on the fundamental ground is that the US is facing with a probable of defaulting its debt repayment if the debt ceiling isn’t raise over the coming 4 weeks or so as Geithner had advise the President Obama that they are running on empty tank and possibly will stop dead in the middle of February if the issue of raising debt ceiling is not resolved. On the other side of politics, the Republicans are playing hard head with many of majority of Republicans publicly saying that they will let the country go into default if the Democrats not agreeing to cut Government spending. Oh well, market storm ahead folks.

 

Also, The other day we have ECB President Draghi projecting an upbeat tone on the Euro Zone and that send the Euro roaring to the upside – Fact is, we don’t know what he has for breakfast that day to actually believing that the Euro will soon see light at end of tunnel. Anyway, Yesterday we have the European Union President Juncker came out saying that EURO exchange rate is dangerously high – which in our view is true to the core – what is best for the Euro is to have a lower Euro so that they can attract investors which in turn will give their ailing economy a boost. And with that statement of President Juncker immediately send the Euro lower. Oh well, Draghi (Druggy) was probably on drug and feeling high and therefore higher Euro while Juncker (Junky) love to spend every cents and therefore sending Euro to junk. Joking.

 

 

Impact News today:

 

08:30 am (NY) USD – Core CPI

07:30 pm (NY) AUD – Employment Change; Unemployment Rate.

 

Trading Positions:

 

 

We are now in mid month of January and so far most of our trades turn fruitful, with another 2 weeks to go our aim is to this as a record month in pips gain. Our record currently stands at 1400 pips for the month of October and we are currently only another 200 pips short to take out that record.

 

Below are the charts of EURJPY on Daily, H4 and H1. You can also view the Weekly chart that we posted last Monday.

 

EURJPY – Daily

 

 

EURJPY – H4

 

 

 

EURJPY – H1

 

 

 

 

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.

[myfxpedia]

17 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 25

Winning Trades: 20

Losing Trades: 5

Total Pip Gain/Loss: +1,306.5

 

Yesterday:

 

 

Yesterday Pip Gain/Loss: +112.4

 

 

 

17 Jan 2012 Daily review by myfxpedia.com:

 

 

There wasn’t much movement yesterday in the FX market, most of the majors are trading in range as there were lack of news from Europe as well as US.

 

Today let take a look at what we call Commodity currency, AUD, and the health of the Australian economy that in our view is slowly in dire and thus a possible of Interest Rate cut coming our way in early February.

 

The last 2 weeks of news coming out of Australia isn’t at all rosy and early in the Asian session today the Employment rate was down, much worse than expected and that was evident on Chart as prices being knocked down about 50 pips as soon as news hit the market. Add on to that, a major Manufacture and construction company, Boral came out announcing of shredding 700 jobs as well as closing most of its plants in Sydney. Furthermore, the Retails and Manufacturing Association President came out saying: 2013 could be the year to make or break of the Australian Manufacture in Australia as higher AUD put lots of pressure on competitiveness of Australians goods. These news surely will wake up the Aussie politicians, especially, the Treasurer Wayne Swan who we think still have his head in the sand or stuck between his buttock.

 

If we look at the AUDUSD chart, over the past few sessions it has been trading in tight range, in short term we do not see it will change direction substantially but over the coming week, on the 23rd January when the Inflation number coming out we probably will see the big smart money start to pouring in. In our current view it’s going to head south.

 

 

Impact News today:

 

08:30 am (NY) USD – Building Permits; Unemployment Claims

10:00 am (NY) USD – Philly Fed Manufacturing Index

04:45 pm (NY) NZD – CPI

09:00 pm (NY) CNY - GDP

 

Trading Positions:

 

 

We have amended our pending order on EURJPY. We move it to Pending sell @ 119.16 instead of 118.35 as We want to be in position with the optimum probability since the pair is still in a strong trend and what we are looking for is the short term correction. So what we are watching is for Price to retraced and retest of the short term uptrend line and if we draw a short term downtrend line on H4, it happens that our current pending sell order is at about the intersection of 2 trend lines. Yes, Prices could even push higher to challenge the last high or even go a bit higher to actually created Negative Divergences before heading for a deeper correction.

 

Also, in so far over the last 2 weeks with handsome profits we just have to be selective with our trades and hold on to our wins as best as we can and therefore being conservative and selective on our orders is prudent. See chart below.

 

EURJPY – H4.

 

 

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.

[myfxpedia]

18 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 25

Winning Trades: 20

Losing Trades: 5

Total Pip Gain/Loss: +1,306.5

 

18 Jan 2012 Daily review by myfxpedia.com:

 

 

The Bullish and upbeat market in the first month of the year is astonishing. The rise of the S&P yesterday has put on a new high that has not been seen in the last 5 years. The Bull surely has come roaring in folks. People are now talking about stocks, investing and many major outlets, medias are painting a very rosy pictures for 2013. You know what? That’s the first to get very worry about your investment. Remember, the medias are just reporting the views of these so call “guru” that belongs to the big institutions and these big players are often than not always have their hidden agendas.

 

Don’t get us wrong, we are not saying that the market is going to collapse overnight, not yet anyway. The way we see it is over the next 3 to 4 months many investors will be caught naked with a nasty surprise. Yes, maybe we are being too sceptical but we game enough to make that bold call . Through our experiences of many years in the markets we have seen this similarity of behaviour before so we just have to be cautious and trade wisely. Currently, we are at the turn at the market where majority of people has been holding tight to their wallets over the year and now seeing the sign of optimism many people would open their wallet to have a punt in the markets. Being saying that we noticed the bull or at least a mini bull is stepping up for a fight and no, we do not know or can tell you the exact date as when the bear will come out to wrestle this mini bull. So, just don’t go and short the market or banking on the rise of the USD as often majorities would seek for safe haven currency in time of turmoil. Remember this: Markets sometimes, behave much more irrational than your deep pocket can bear.

 

Yesterday, after the Japan’s economy minister came out making a statements that the Yen is still under correcting from being extremely overvalue for some years and that the priority of the current Japanese Government is to make an end to Strong Yen and deflation as its top priority. This has bolster the Yen once again and EURJPY has now cracked the 120.00 barrier; Bugger that. Anyway, we have been caught with our pending sell order that took us in yesterday and since next Tuesday the BOJ meeting and work on their 101 trillion Yen asset purchase programs and if the market smell and sign of the go ahead they will send the pair skyrocketing to 138.00, back to the high of 2008, 2019,2010.

 

So, since we have been caught short what we are going to do now is to scale down our stop and accepting the loss and will see what happens next week.

 

 

Impact News today:

 

04:30 am (NY) GBP – Retail Sales

09:55 am (NY) USD – Consumer sentiment.

 

Trading Positions:

 

Ok, As said above you will see from the chart I will use H1 to scale down our stop as this trade is now in our view does not given us a high probability so we will scale down our stop using the High of H1 and as long as lower high is formed we will keep lowering our stop until taken out and accept the loss on this trade.

 

EURJPY – H1.

 

 

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.

[myfxpedia]

22 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary

Number of Trades: 28

Winning Trades: 22

Losing Trades: 6

Total Pip Gain/Loss: +1,221.2

 

Yesterday:

 

 

Yesterday Pip Gain/Loss: +17.4

 

 

 

22 Jan 2012 Daily review by myfxpedia.com:

 

Well there wasn’t much news yesterday to mention about and so most of the major currencies are ranging except for the Pound which face a downward pressure and fell , currently, only about 80 pips await from a stiff support. The falls has been excessive and oversold, at least in the short space of time. We think the pair is showing sign of bottoming out and ready for a retrace to the upside and then resuming its downtrend, at least, retesting the support (1.5750 there about) for confirmation of the Support. Notes: Since we had a breakout to the upside of 1.5750 level back in August 2012. That level since then has never been tested and so this time round this could be its first test.

 

On the fundamental fronts, with the heavy snows in the UK, many of the analysts, medias, suggesting this dampen weather could put the UK into a so called Triple – Dip Recession and so maybe that has actually put further pressure on the Pound. In Japan, the BOJ continuing its 2 days meeting and so the news could be at any moment. If the news is not what the market expected we probably see the start of the correction on the Yen. Look out folks.

 

 

Impact News today:

 

05:00 am (NY) EUR – German Economic Sentiment

08:30 am (NY) CAD – Core Retail Sales

10:00 am (NY) USD – Existing Home Sales

01:00 pm (NY) EUR – ECB President Speaks

07:30 pm (NY) AUD – CPI.

 

Trading Positions:

 

Yesterday we exited our short position on EURGBP due to momentum change in H1. We decided to exit the trade for a tiny profit, we are now putting on another pending sell order using chart analysis of H4 and H1. Below are the charts of H4 and H1.

 

EURGBP - H4

 

 

EURGBP – H1

 

 

 

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.

[myfxpedia]

23 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 27

Winning Trades: 21

Losing Trades: 6

Total Pip Gain/Loss: +1,267.7

 

Yesterday:

 

 

Yesterday Pip Gain/Loss: +46.5

 

 

 

23 Jan 2012 Daily review by myfxpedia.com:

 

Ok, the so called Currency War has now started yesterday after the BOJ announcing of its determination to follow the US and devalue the Yen by Unlimited QE. So, basically we now have the US and Japan will go into full forces of printing ($) their way out of trouble. The winner will be the one that can lower its currency the quickest, just a shame, that many of the European countries that are financially troubled were unable to join in the race.

 

The announcement of an open-end QE from the BOJ yesterday gave a kick on knee jerk reaction as we see the Yen initially dropped but then recovered and actually gained strength throughout trading day. Well, the open-end QE will only kick start in January 2014 after the current QE in place lapse and so after the knee jerk reaction many of the Yen cross lost ground – so true for “Buy Rumour and Sell on Fact”.

 

Other new that were driving the market yesterday was also the Stronger than expected German Sentiment Survey which saw the reading jumped to 31.5 from 6.9 with expectation of only 12.00. But this was only survey, traders will look forward to coming Thursday for German Manufacturing PMI to confirm the Bullish Sentiment actually has any ground.

 

The Australian CPI new that release in the early Asian session today was lower than expected and the Aussie Treasurer Wayne Swan were quickly jumped on the new saying that, with the contained inflation has now given RBA room to cut interest rate on their first meeting of the year in February. The release of CPI and words from Wayne has increase the probability of further interest rate cut and we quick see the AUDUSD dropped 35 odd pips. Also, as China is Australian biggest trading partner, and tomorrow with China HSBC Manufacturing PMI to be released and if it show any sign of weakness in the data this will also add weight to the AUD and further strengthen the chance that RBA will cut rate in February.

 

 

 

Impact News today:

 

04:30 am (NY) GBP – Claimant Count Change; MPC Meeting Minutes

10:00 am (NY) CAD – BOC Monetary Policy Report; Rate Statement; Overnight Rate

11:15 am (NY) CAD – BOC Press Conference

08:45 pm )NY) CNY – HSBC Flash Manufacturing PMI.

 

Trading Positions:

 

We are now holding 4 pairs: Short EURUSD; EURGBP; AUDUSD and Long GBPNZD.

 

EURUSD - as for this pair What I am looking for is Wave 5 down on Weekly, on weekly it’s starting to show Prices Momentum Divergence and is trading at critical resistance zone. On Daily, we already have Continuous Negative Divergence and on Fundamental front it isn’t prudent for the Euro economy to have higher Euro and therefore We only look for shorts on Euro.

 

AUDUSD - level 1.0580 had been a stiff resistance for this pair which has been tested 5 times on H4 and with the bearish pressure as we approach February we probably will see this pair to

Pullback to 1.0350 support. As long as Resistance 1.0630 intact we only look for short on this pair.

 

GBPNZD – This pair is being oversold and is trading close to all time low Major Support and now in the process of forming the base. We will look for retrace to the upside with first target 1.9000

 

EURGBP – As from previous 2 updates we had been in and out of this trade twice base on H4 and H1. Yesterday we exit the trade and put on another pending sell limit which triggered our

Entry during Draghi’s speaks. So, we are now in this trade again for the 3rd time. Chart below.

 

 

EURGBP – H1

 

 

 

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.

[myfxpedia]

24 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

[/color]

Number of Trades: 27

Winning Trades: 21

Losing Trades: 6

Total Pip Gain/Loss: +1,267.7

 

Yesterday:

 

 

Yesterday Pip Gain/Loss: +46.5

 

 

 

24 Jan 2012 Daily review by myfxpedia.com:

 

Ok, the so called Currency War has now started yesterday after the BOJ announcing of its determination to follow the US and devalue the Yen by Unlimited QE. So, basically we now have the US and Japan will go into full forces of printing ($) their way out of trouble. The winner will be the one that can lower its currency the quickest, just a shame, that many of the European countries that are financially troubled were unable to join in the race.

 

The announcement of an open-end QE from the BOJ yesterday gave a kick on knee jerk reaction as we see the Yen initially dropped but then recovered and actually gained strength throughout trading day. Well, the open-end QE will only kick start in January 2014 after the current QE in place lapse and so after the knee jerk reaction many of the Yen cross lost ground – so true for “Buy Rumour and Sell on Fact”.

 

Other new that were driving the market yesterday was also the Stronger than expected German Sentiment Survey which saw the reading jumped to 31.5 from 6.9 with expectation of only 12.00. But this was only survey, traders will look forward to coming Thursday for German Manufacturing PMI to confirm the Bullish Sentiment actually has any ground.

 

The Australian CPI new that release in the early Asian session today was lower than expected and the Aussie Treasurer Wayne Swan were quickly jumped on the new saying that, with the contained inflation has now given RBA room to cut interest rate on their first meeting of the year in February. The release of CPI and words from Wayne has increase the probability of further interest rate cut and we quick see the AUDUSD dropped 35 odd pips. Also, as China is Australian biggest trading partner, and tomorrow with China HSBC Manufacturing PMI to be released and if it show any sign of weakness in the data this will also add weight to the AUD and further strengthen the chance that RBA will cut rate in February.

 

 

 

Impact News today:

 

04:30 am (NY) GBP – Claimant Count Change; MPC Meeting Minutes

10:00 am (NY) CAD – BOC Monetary Policy Report; Rate Statement; Overnight Rate

11:15 am (NY) CAD – BOC Press Conference

08:45 pm )NY) CNY – HSBC Flash Manufacturing PMI.

 

Trading Positions:

 

We are now holding 4 pairs: Short EURUSD; EURGBP; AUDUSD and Long GBPNZD.

 

EURUSD - as for this pair What I am looking for is Wave 5 down on Weekly, on weekly it’s starting to show Prices Momentum Divergence and is trading at critical resistance zone. On Daily, we already have Continuous Negative Divergence and on Fundamental front it isn’t prudent for the Euro economy to have higher Euro and therefore We only look for shorts on Euro.

 

AUDUSD - level 1.0580 had been a stiff resistance for this pair which has been tested 5 times on H4 and with the bearish pressure as we approach February we probably will see this pair to

Pullback to 1.0350 support. As long as Resistance 1.0630 intact we only look for short on this pair.

 

GBPNZD – This pair is being oversold and is trading close to all time low Major Support and now in the process of forming the base. We will look for retrace to the upside with first target 1.9000

 

EURGBP – As from previous 2 updates we had been in and out of this trade twice base on H4 and H1. Yesterday we exit the trade and put on another pending sell limit which triggered our

Entry during Draghi’s speaks. So, we are now in this trade again for the 3rd time. Chart below.

 

 

EURGBP – H1

 

 

 

 

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.

[myfxpedia]

25 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 28

Winning Trades: 22

Losing Trades: 6

Total Pip Gain/Loss: +1,321.3

 

Yesterday:

 

 

 

 

Yesterday Pip Gain/Loss: +53.6

 

 

25 Jan 2012 Daily review by myfxpedia.com:

 

 

 

 

 

 

Like we said from yesterday update, what we are seeing now is the inverse relation between the Equities market and the Risk currencies. Usually when we have run on the Equities market the risk currency: AUD, NZD, EURO...etc will also push higher. This wasn’t the case of late and yesterday the Dow Jones crossing the 15000 mark for the first time since 2007 and yet the risk currencies are still trading in tight range.

 

What we observe from the technical perspective is that the Equities market are overbought and hype and that will soon be corrected and when we have the Equities market corrected we will probably see further bearish momentum on many of the risk currencies. From recent data release they are much seems rosy globally with China manufacturing is expanding at the fastest rate in 24 months and from the German Sentiment and Manufacturing PMI also improves and Yet the AUD which usually link to China activities wasn’t in a bullish mode at all, as a matter of fact, after a spike up of around 45 pips it soon gave it all back plus interest.

 

Interesting time ahead as February approach and if the market decided to have a little correction now then the risk currencies will have further to fall and if you are playing with the crosses instead of the majors then go Long with the country that has bigger economy.

 

In regarding to the Euro, once again 1.3400 proves to be a tough resistance yet, it won’t be a surprise see it pushes higher taking out all the Shorts at current level before heading back down, so, a break of 1.3400 level could sprint to another 50 to 100 pips to clear out all stops of people that went shorts, so, be careful not to fall victims of stop hunts by the big boys.

 

 

Impact News today:

 

 

04:00 am (NY) EUR – German Business Climate

04:30 am (NY) GBP – Prelim GDP

08:30 am (NY) CAD – Core CPI

10:00 am (NY) USD – New Home Sales.

 

 

Trading Positions:

 

We exited 1 of our last entry GBPNZD for a small gains and put another 2 pending Buy orders. Base on H4 we are currently being overbought and a pullback to either retest previous low or even push a bit lower and create a bullish Divergence on H4 before making a retrace to the upside. See chart below.

 

GBPNZD – H4

 

 

 

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.

[myfxpedia]

Monthly Summary ( click here to update online ):

Number of Trades: 29

Winning Trades: 23

Losing Trades: 6

Total Pip Gain/Loss: +1,277.6

 

 

29 Jan 2012 Daily review by myfxpedia.com:

 

Last week we have seen the market was in a jovial moods with many of the indexes pushing up and mainstream media also talking up the market as well. Should this be the warning sign of what to come over the coming weeks? Maybe over the next 2 to 5 weeks we think a good correction in the equities market will eventuate.

 

Regarding to the currency market , traders was propping up the Euro to the level that we think will dampen the economic recovery for the Euro Zone. Let give this a bit of thought: here we have Central Banks around the globe is trying to devaluate their currencies to be able to compete globally and with the higher Euro how can countries within the Euro Groups compete? What can countries like Greece, Portugal, Ireland export beside, perhaps, maybe cheap labours ? and surely Germany would not like to see their manufacturing being taken over by cheap Japanese, Chinese goods. Yes, we agreed that the sentiment regarding Europe seems as though it has been stabilize but then the outlook for near to medium term isn’t at all positive: there is a debt crisis with countries within the Euro Group that has not been probably addressed and there isn’t any clear direction for economy growths for the group. Although, the ECB did said that it expect the Euro Zone to return to growth later in the year but did not elaborate as to how that can be done and yet, the German Economy Ministry last week came out and lower its 2013. So, there you have it, the ECB expect growth and yet the strongest economy of the Euro Zone isn’t carry the same view.

 

Anyway, over the next few weeks we will have the issue of Debt Ceiling in the US coming back to rattle the market and there is Italy Election by end of February and there is a hidden catalyst is waiting in the wing and that is China. As the newly elected Government in China appears to try to move away from its export driven economy to a more consumer base economy and the shift in policy as well as the asset, property bubble in China could eventually dampen the Chinese economy as well as sovereignty risk with its neighbour could also triggered uncertainty in the markets and with any of these events eventuate then watch out risk currencies, particularly the AUD could might as well goes below parity.

 

Impact News today:

 

10:00 am (NY) USD – Consumer Confidence.

 

Trading Positions:

 

Currently we are holdings a few positions and applying the daily cycles. Over the last 2 weeks we are only taking small positions and adding positions. Although We are in negative for the time been but do not let it deter you as the daily cycle will come over the coming days and once the correction kick in we are looking of at least 200 to 500 pips of correction on these pairs.

 

EURGBP – On Daily we have a complete 100% projection of Channel Duplication and with yesterday Gap Up could prove to be an exhaustion Gap so the pair will probably play around this region or a tad higher over the next few days before falling over and eventually will retest the uptrend line or retest of the breakout level. Note: Charts for EURCAD is also similar to EURGBP.

 

 

 

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.

[myfxpedia]

30 Jan 2013 Daily review by myfxpedia.com

 

Monthly Summary ( click here to update online ):

Number of Trades: 29

Winning Trades: 23

Losing Trades: 6

Total Pip Gain/Loss: +1,277.6

 

 

30 Jan 2013 Daily review by myfxpedia.com:

 

Well beside the Euro and the Yen buck the trend there isn’t much movement decent movement around. What we have seen over the last week or so was the Equities market are pushing and pushing higher and the Euro tags along as well while the Pound and the Aussie has been heading south which is quite unusual. So, there must be a missing link and as we have been saying since the last 2 weeks updates: The Equities market is overshoot itself for the time being and correction as we sense, is just around the corner.

 

As from today till end of the week and leading into February should provides lots of trading opportunities as there will be more frequent and sensitive news flowing into the market that certainly moves the currency market. And if the correction eventuate as we suspect it will shortly over the coming week or 2 then the deep pullback from the Euro is not out of the question.

Impact News today:

 

10:00 am (NY)

 

08:15 am (NY) USD – ADP Non-Farm Employment Change

08:30 am (NY) USD – Advance GDP

02:15 pm (NY) USD – FOMC Statement

03:00 pm (NY) NZD – Official Cash Rate; RBNZ Rate Statement.

 

Technical Analysis:

 

We are still holding 4 pairs that we are trading with daily cycles and just be patient and do not over trade and do not using big lots size on these trades.

 

Anyway, today We would like to bring to your attention to the USDCHF pair. Base on H4 chart below the pair has made a zigzag retracement within the tight channel and prices currently sitting on the 61.8% Fibonacci support. There are 2 ways of playing this: One – looking for a bullish H4 candle formation (a bullish marubozu candle is most preferable) at around this level then enter Long for a retest of at least previous high. Two – we have a pending Buy order which is sitting a bit lower closer to the uptrend line, at about the intersection of the bottom of the channel and the uptrend line; here we had the support of the uptrend line and the Major support at around 0.9170 as price is being oversold and is we look and visualise H1 chart when price reaching this point it probably would create a Bullish Divergence on H1 and Stochastic would also in coming off from oversold and heading up which will go in tandem with H4. Charts below.

 

USDCHF - H4

 

 

USDCHF - H1

 

 

 

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.