I set for myself a return of just 2% return on investment for my captial.
This will reduce stress and there is no need to monitor the trades all time round the day.
BTW I just met my 2% target.
That's is only 10 days from 1 May, less than 8 days of trade.
Of course you may ask what is 2%? That is for a 200K I am willing to put in as a downpayment for a property -> 4K! (I did not say I have a capital of 200K). A downpayment for a house is 20% and a property cost for a 2B room is about 1 Mil.
I will stop trading now and will just monitor and start to put in trade in 1 June.
Friday, May 10, 2013
10 May 2013; GBPUSD
GBPUSD
The pound took a dive from EMA200 at 1.556-1.557 to reach EMA100 at 1.543. It hit EMA100 and now is hovering at that level.
The next major news is 1630SGT UK Trade Balance. The news may subject the pound to continue its downward movement, expecting a weaker report. Support is at 1.540 or EMA55.
Of course G7 is meeting and the expectation is that monetary policy will be used. Rates will continue to be kept low, flooding the market with easy money. The stock market has moved up with DOW staying above 15000, so are the Euro markets.
The pound is now at the Fib support line.
CCI is down and has yet to show sign of reversal.
I expectation is for the support at 1.54 with a potential for a short reversal up ward towards 1.55 EMA200.
The pound took a dive from EMA200 at 1.556-1.557 to reach EMA100 at 1.543. It hit EMA100 and now is hovering at that level.
The next major news is 1630SGT UK Trade Balance. The news may subject the pound to continue its downward movement, expecting a weaker report. Support is at 1.540 or EMA55.
Of course G7 is meeting and the expectation is that monetary policy will be used. Rates will continue to be kept low, flooding the market with easy money. The stock market has moved up with DOW staying above 15000, so are the Euro markets.
The pound is now at the Fib support line.
CCI is down and has yet to show sign of reversal.
I expectation is for the support at 1.54 with a potential for a short reversal up ward towards 1.55 EMA200.
Wednesday, May 08, 2013
8 May 2013; GBPUSD
GBPUSD
Dow stay above 15000 with support from better job data. This gives boost to USD.
Pound begin to move down after that piece of news at 2200hrs SGT last night.
The German news on factory orders yesterday rose on sign of recovery but did not much movement to the pound.
Today is still a holiday for the French. Similar German Industrial Production report at 1800SGT is expected to be better, but may not move the pound much.
As much there may not be much news to expect a directional movement for the pound.
Looking at technical, from the daily chart, the pound move past below the CCI34, an indicator of a reversal from yesterday downward movement.
Both Fib and the EMA show similar trend of a reversal.
The Fib support is at 1.5425 similar to the EMA100.
As such, I am expecting a good support at 1.5425 today and a resistance at EMA200 at 1.55.
Dow stay above 15000 with support from better job data. This gives boost to USD.
Pound begin to move down after that piece of news at 2200hrs SGT last night.
The German news on factory orders yesterday rose on sign of recovery but did not much movement to the pound.
Today is still a holiday for the French. Similar German Industrial Production report at 1800SGT is expected to be better, but may not move the pound much.
As much there may not be much news to expect a directional movement for the pound.
Looking at technical, from the daily chart, the pound move past below the CCI34, an indicator of a reversal from yesterday downward movement.
Both Fib and the EMA show similar trend of a reversal.
The Fib support is at 1.5425 similar to the EMA100.
As such, I am expecting a good support at 1.5425 today and a resistance at EMA200 at 1.55.
Tuesday, May 07, 2013
7 May 2013; GBPUSD
GPBUSD
It is going to be a slow week with a lack of news in Europe with the French and German hoildays.
Look out for Thursday UK rates announcement and US Unemployment claims.
Else based on technical and without the influence of news, I am expecting the pound to hover in the range 1.556 and 1.553 for today.
Overall technical calls for a sell. This is also supported by the expectation that UK will maintain rates.
It is going to be a slow week with a lack of news in Europe with the French and German hoildays.
Look out for Thursday UK rates announcement and US Unemployment claims.
Else based on technical and without the influence of news, I am expecting the pound to hover in the range 1.556 and 1.553 for today.
Overall technical calls for a sell. This is also supported by the expectation that UK will maintain rates.
Monday, May 06, 2013
6 May 2013; GBPUSD
GPBUSD
Last week saw a surge in the stocks market. Despite ECB lowering the rates by a quater point, the good news came both in the UK non farm employment data and the US job data.
Looking at the series of news this week - the expectation is for the German to do well.
On the technicals, based on Fib retracement, both pound has retrace from their low at 1.483 to hit the 61.8 level at 1.556. Taking another look at the CCI index, all indicators point to a movement down.
I put the support at 1.54, but of course a breakthrough in news can stir the pound to a new high of 1.576.
Last week saw a surge in the stocks market. Despite ECB lowering the rates by a quater point, the good news came both in the UK non farm employment data and the US job data.
Looking at the series of news this week - the expectation is for the German to do well.
On the technicals, based on Fib retracement, both pound has retrace from their low at 1.483 to hit the 61.8 level at 1.556. Taking another look at the CCI index, all indicators point to a movement down.
I put the support at 1.54, but of course a breakthrough in news can stir the pound to a new high of 1.576.
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