Market update - 20.10.2011

1:13 PM Dayal madan

Markets down on
internal EU-quarrels

Last hours disagreements between France and Germany on the role of the proposed new emergency bail out fund, have created new fears and dispair in global markets. Markets are back in deep red in US and Asia and futures for Europe and opening in US are pointing down threatening to wipe out gains over the last weeks.

The Euro is falling along with oil (NYMEX 86 and Brent 108) and commodity prices. Copper prices, one of the best indicators of economic growth, are falling for the seventh consecutive day. Even safe haven gold, is falling 65 dollar from from 1675 at the start of the week to present 1610. The US Federal reserve, FED, indicated yesterday that the US economy is showing slow, but steady progress with no turn around in either employment or housing. This careful statement, however, boosted the strength of the dollar.

An emergency meeting in Frankfurt yesterday evening between Merkel and Sarkozy ended in no results or statements with mixed signals coming from the countries top officials prior to the crucial EU-summit on Sunday both to the functioning of the emergency fund and the “hair cut” for Greece. As a prelude demonstrators came out in great numbers and changed central Athens into somewhat of a war zone, while Parliament discussed new austerity measures. Inside the EU it still seems to be disagreements as to whether the “hair cut” shall be as big as 50 %.

Posted in

My Update : A good news and a bad news!!

9:29 AM Dayal madan

. . Hello readers, feeling good posting after a long time. . But the news is I got selected at INFOSYS as an engineer traine. . 

Now comes the bad news. . 
Its that I lost nearly 100$ in one day. . Hahaha, that's really shocking. 
Actually what I did was by mistake, I placed a SELL order instead of BUY and left for my college early. But I was lucky enough to save 20$ for future trading.

Anyways, the rise and fall of market will remain for ever, but I am still very happy for now ( its because at least I have some bucks to trade). 

See ya later guys, will be posting few more updates for today. . 

Posted in

Market update - 19.10.2011

10:25 PM Dayal madan

Markets rally on
EU-solution rumors

After a dismal start on the trading week, rumors on a French-German agreement on increasing the emergency fund for sovereign debt and bank recapitalization to 2 Trillion Euros, spurred a strong world market rally initiated in US where Dow rose 1,58 and Nasdaq 1,63 %. Asian markets jump, and European futures are pointing up. US futures are down on disappointing quarterly results also from Apple. Finance and banking shares have recovered. Bank of America is up 7 %.

The rumors from Europe has led to a strong rebound in the EURO. Euro/USD trading at 1.3812. Oil prices are up; NYMEX at 88 and Brent on 111 levels. Greece is facing a Parliamentarian vote on continued austerity measures on Thursday. All Greece is on strike. Premier Papandreou is seeing the vote as decisive to avoid default. Moodys has downgraded Spain credit rating. This does not, however, place Spain on the same credit standing as Greece, Europe and Portugal.

In spite of some renewed market optimism, Angela Merkel yesterday repeated that the European credit crisis is deep rooted and shall be with the markets for a long time to come.

Posted in

Today's profit : 20$ ( Still contd.)

6:45 PM Dayal madan

Hello readers, its been a great pleasure sharing my today's profit with you. It is 20$ for today, and still I am trading till market is open. My current equity is 85$, gonna make it reach 100$ till the end of the day.

Now, lets talk about my strategy. well, its quite simple, I just check RSI indicator daily and the rising trend line gave me an idea about my target and opened a BUY order and my decision cam e to be damn right (wowww, I am amazing). Stopped the order with a profit of 20$ in a single trade. That's really awesome.

So guys, do check out my daily updated blog on regular basis to get to know about my trading experience and it would definitely be helpful for newbie traders who wants to make profitable trade.

Posted in

EUR/USD 7-10-11 : The upside prevails

6:19 PM Dayal madan

Long positions above 1.3395 with targets @ 1.3475 & 1.352 in extension.

Alternative scenario: Below 1.3395 look for further downside with 1.336 & 1.332 as targets.

Comment: the pair has rebounded on its support and is approaching its resistance.

Key levels

1.3565

1.352

1.3475

1.344 last

1.3395

1.336

1.332

Posted in

Market update - 07.10.2011

6:16 PM Dayal madan

Europe's leading central banks
returned to crisis-fighting mode

On Thursday, on October, 6th, key stock markets of the European region, as well as U.S. market have finished the trading session in positive territory. Interest rates as it has been predicted were left at former level of 0,5 % and 1,5 % accordingly.

Investors have complacently apprehended news that the European central bank will support liquidity in bank system by carrying out of two long-term operations on refinancing in October and December. Besides, ECB will start the new program of the repayment of sovereign debt papers for the amount of 40 bil. Euro.

Following the results of the trading session " index Dow Jones Industrial Average has raised on 1,68 % and was closed on a level of 11123,30 points, the index of wide market S&P 500 has grown on 1,83 % to level 1164,97 points, and the index of hi-tech companies Nasdaq has risen on 1,88 % to a mark 2506,82 points.

The price for futures for oil of Light following the results of the auctions on NYMEX has raised on $2,91 or 3,52 % to level of $82,59 for barrel.

The price for futures for gold following the results of the auctions on COMEX has raised on $11,60 or 0,7 % to value to $1653,20 for ounce.

On Friday all attention will be chained to the data on a labor market of the USA - to a rate of unemployment and employment in non-agricultural sector. This news will affect the further dynamics of the market and in a case of negative results – we can see new minimums.

Posted in

Profit for day | 15$

10:54 PM Dayal madan

Hello fellas, sharing my Forex profit with you, its 15$ for today.

Had a very hectic trading day today, had several big losses but still I managed to make 15$ as a total profit for today.
Here's my trading stat for today, all traded for EUR/USD pair

BUY 0.04 lot at 1.3343, close at 1.3345. Profit = 0.80$
SELL 0.04 lot at 1.3333, close at 1.3348. Loss = 6$
SELL 0.03 lot at 1.3330, close at 1.3303, Profit = 8.1$
SELL 0.01 lot at 1.3347, close at 1.3346, Profit = 0.10$
SELL 0.01 lot at 1.3375, close at 1.3295, Profit = 8$
BUY 0.02 lot at 1.3395, close at 1.3295, Loss = 13.4$
SELL 0.01 lot at 1.3353, close at 1.3295, Profit = 5.8$
BUY 0.01 lot at 1.3334, close at 1.3321, Loss = 1.3$
BUY 0.01 lot at 1.3310, close at 1.3315, Profit = 0.50$
BUY 0.01 lot at 1.3314, close at 1.3350, Profit = 3.6$
BUY 0.01 lot at 1.3310, close at 1.3350, Profit = 4$
BUY 0.01 lot at 1.3296, close at 1.3350, Profit = 5.4$

That's all for today, gonna try my experience tomorrow. . Stay tuned till then. . 

Posted in

EUR/USD 6-10-11

6:47 AM Dayal madan

Long positions above 1.328 with targets @ 1.342 & 1.348 in extension.

Alternative scenario: Below 1.328 look for further downside with 1.3225 & 1.315 as targets.

Comment: the RSI has just landed on its neutrality area at 50% and is turning up.

Key levels

1.352

1.348

1.342

1.3344 last

1.328

1.3225

1.315


Posted in

25$ | MY profit as for today

9:58 PM Dayal madan

Hello all, I am so happy today, today was my first day trading Forex with 30$ initial investment and guess what, I made a net profit  of 25$ with only two trades. 
So, let me share that how did I made such profit.

Well, to start up, I woke up at 7 AM, opened, logged in, and then checked the RSI indicator movements, which suggested that EUR/USD will surely go up. So I opened an order of 0.02 lot at quote 1.3281 and put take profit at 1.3331, means closing order at a profit of 50 pips. And after coming back from college, when I logged in again, then saw 40$ as my Forex equity.

Then, for my second order, I again checked RSI indicator indicating that quote will go down. So this time, I made SELL order of EUR/USD of 0.03 lot and again made a profit of 50 pips.
So, my total profit for today will summed up as 25$. 

For now, I am pretty tired, gonna sleep for sure. Stay tuned for further updates and more from me. 

. . This is Dyal, signing off now. . 


Posted in

Market update - 05.10.2011

9:56 PM Dayal madan

Italian downgrade
adds to market fear

Moody’s downgrade of Italy has increased volatility prior to opening of markets in Europe. After steep falls Dow Jones and Nasdaq turned around during last hour’s trade and ended up 1,44 and 2,95 % respectively. The EURO/USD corrected down upon the news of the Italian downgrade from 1.3365 to 1.3305. The rally did not influence Asian traders. Hang Seng dropped new 3 %. One share is up for each three falling shares. Copper gained for the first time in six days, but is 35 % down from it’s peak in January.

Copper is though a sensible indicator on industrial activity and yesterday’s gain might signal that the bottom trend is starting to phase out. Most analysts do, however, agree that the worst is not yet been seen, and that markets still could fall another 10 – 15 %. A lot of wild speculation going on illustrated in Gold trading. Gold fluctuated between 1680 and 1605 during yesterday’s session opening the morning at 1630. Yen is steady towards USD at 76,665. Downward trend in GBP continues.

Italian SOVEREIGN debt was downgraded from A2 to AA2. Moody’s Investor Service is finding future perspectives for Italy negative with weak economic growth and problems and consequent problems in refinancing their debt. These are problems very similar to those facing Greece and other debt-stricken EU-countries. Before EU is coming up with a credible answer as to how to handle the sovereign debt problems market volatility is going to continue.

Posted in

My first deposit this month | back to business!!

7:17 AM Dayal madan

Hello folks, finally, after a long break of one break of one month, I am back to Forex trading, deposited a  sum of 30$ into my Forex account yesterday. This time, I am really looking up for more profit and less loss as my bank balance is going to reach a zero in a short span of time :( . 

I opened my first order today for EUR/USD BUY at quote of 1.3281 in accordance with the RSI indicator as it says, the quote will definitely go up at target 1.34, so I am really hoping for it to go up I should make my first profit.

For now, I am getting late for my college, so I can't post more, stay tuned guys for further update.

Posted in

EUR/USD 5-10-11

7:09 AM Dayal madan

Long positions above 1.32 with targets @ 1.342 & 1.348 in extension.

Alternative scenario: Below 1.32 look for further downside with 1.315 & 1.31 as targets.

Comment: the pair has broken above its declining trend line and should reach its next resistance.

Key levels

1.3545

1.348

1.342

1.3287 last

1.32

1.315

1.31

Posted in

Market update - 04.10.2011

9:09 PM Dayal madan

European debt crisis
spread global panic


October is living up to its reputation as the worst performing month in financial markets. Monday’s steep falls
in Asia were followed by Wall Street. Dow Jones dropped 2,4 % to 10 655 with the magic 10 000 limit in sight. Futures for Europe and USA are down after Asia fall for the consecutive day. Oil prices plunge with NYMEX tipping below
USD 76 and Brent fighting to stay beyond 100 barrel.

EURO/USD is at 1.3200. The EU-finance ministers failed to give any signals to calm markets after meeting in Luxembourg. This
has added to the pressure on the Euro. A Greek default is seem to be taken for granted. The visiting TROIKA (representative from the European Central Bank, IMF and EU-commission) has once again stated that Greek austerity measures are lagging behind. The final decision to release the next debt tranche to Greece is postponed to the 17th October meeting with heads of state.

In the meantime there is no money left in the Greek state coffers and the massive protests against the austerity measures and greedy bankers are continuing in the streets. Protests against bail outs and greedy bankers are not limited to Europe. Wall street witnessed over the week end that 700 protesters were arrested.

Big US banks as JP Morgan and Bank of America are as heavy debt loaded as its European counterparts. One of the few messages given by EU-ministers of finance, is that creditors must be prepared for taking increased Greek losses. Greek treasury bills are trading on 46 % of face value indicating creditor losses up to 50 %.

In an atmosphere of volatility and uncertainty Gold is springing back to life up to1671. Another precious metal, silver, is also been given a boost. Among the currencies British pound is under increased pressure GBP/USD at 1,5465.

Posted in

Market update - 03.10.2011

5:14 PM Dayal madan

Sell off
continues

Sell off of shares continued in Asia this morning with Hang Seng dropping 5, 4 %. The sell off came on top a dismal third quarter which saw stocks falling 25 %. October is traditionally one of the worst performing months in stock markets.

The Euro continues tits slide towards other currencies. EURO/USD trading at 1.3319. Oil prices (NYMEX 78 and Brent 101,85) are trading at lowest levels in one year. The sell off in Asia is due more to foreign investors taking profit and cutting losses elsewhere than weaker fundamentals. Industrial output in China is up in September. Gold is stabilizing on 1630. Silver is also up since last Friday.

Uncertainty continues to dominate in the EURO-markets. Obama added his worries stating that Euro-zone debt crisis clouds the global horizon. EU finance Ministers meet in Luxembourg today amidst growing concern on Greece. No clear solution seems in sight with continued political bickering. The austerity measures are adding to the pain. The Greek GDP is expected to fall 5,5 % in 2011, much steeper than predicted.

From outside Greece seems on the brink of a social collapse. Demonstrators are crowding the streets, and a new general strike is announced for Tuesday.

Expect a new volatile week with continued opportunities for traders who read the rends correctly.

Posted in

EUR/USD :

6:49 AM Dayal madan

Pivot : 1.3465
Short positions below 1.3465 with targets @ 1.3285 & 1.326 in extension.

Alternative scenario: Above 1.3465 look for further upside with 1.3525 & 1.3565 as targets.

Key levels

1.3565

1.3525

1.3465

1.3357 last

1.3285

1.326

1.32

RSI capped my a declining trend line.

Posted in

Loss!!!!!!

11:06 PM Dayal madan

Readers, by now, you must have been aware of profit making capabilities of Forex. But Forex trading involves substantial risks, even loosing the whole Forex equity ( as I'd gone through this phase thrice).

So here, we talk about losses in currency trading and how it can be minimized. The first thing, a trader must acquire is a lot of patience. 
                                                 

Don't be greedy, open trade orders of small lots. Although profits can be less, but any loss if occur, will also be less. Let me share one of my experience with you. I had around 450$ of equity, I opened a SELL order on EUR/USD pair at price of 1.4445 of 0.5 lot, means 5$ per pip change. I was damn sure the prices will go down, but the very next day, I was shocked to see the quote of 1.4548 and my whole equity was gone. But if I'd opened a trade of even 0.4 lot, then I would still had some equity that time, and the present EUR/USD rate is around 1.3350, means, till today, I'd made more than 4000$ with a single trade. 

Now I really regret my decision of being greedy, every trade will surely lead to profit if we won't make greedy orders ( or unless we just don't gamble ).

. .I guess, its enough for this post now, stay tuned for more cool posts here. . 

Posted in

Beginner Forex strategy

1:12 PM Dayal madan

Hello people, in this post, I am going to share how a beginner trader should start trading in currency market.

There is a term called 'Scalping'. For those who don't know what scalping is, I'll describe that. Scalping a basically opening and closing a trade for a very short duration of time, usually within few minutes for a profit of 1-2 pips per trade. It might sound very unprofitable but think once again, if you can make a profit of 1 pip in one minute, then how much profit you gonna make in one hour full of trading!!! Yeah, its 60 pips.

Now lets take an example, suppose you have 30$ in your trading account, and you opened a trade of 0.02 lot. Then for every 1 pip profit, you'll make 20 cents. Now suppose, you are very lazy as I am and cannot trade for one continuous hour. So you traded for 15 minutes, hence you have made 15*0.20 = 3$ in just 15 minutes.
As Forex market is open 24 hours, so if in one day, you had one hour trading experience, then your profit in one day would be 3*4 = 12$. Isn't that's amazing for only one hour working in a single day!!!

Now, as you make profits, your equity increases and so, you can trade for bigger lots and hence more profit.

I would suggest you to go for scalping until you reach 100$ mark. After reaching 100$ of equity, you would be having much experience that you can go for bigger lots trading and for longer duration, which will lead to much more profit in a single trade.
But, there's always a risk of loosing your equity, when trading for longer duration. So, before going for a trade, you must be able to identify the expected market movements, and then trade accordingly. This can be done through various market indicators.

More information on market indicators will be posted soon. 

Posted in

Where to Start?

1:04 AM Dayal madan

After reading a lot about Forex trading, I guess everyone should have a brief idea about Forex. For those who are still confused, they can contact me through Facebook or mail me at : admin@forexmash.in .

Now, lets leave all the theoretical part, and start with some practical experience. To begin Forex trading, one needs a broker, trading platform and an investment. 

The broker which I would suggest you is UWCFX and they provide a meta trader 4trading platform, which can be downloaded from their website. To know more about UWCFX, click here

Now, the last thing we need is the investment. Most of the brokers have several deposit and withdrawal methods, out which I usually prefer credit card or Alertpay deposit and withdrawal through bank wire. For those who don't have a credit card ( persons like me) need not to worry, just go to www.entropay.com and make a virtual credit card which can be funded through debit cards, now that's awesome. 

So now, we've a broker, trading platform and an investment, what else we need!! Now we need is trading strategy. Strategy, is something that determines the profit or loss of a trader. Just gambling in forex is not a good option. So, before going for a real trade, I would suggest you all to go for a demo account trading and making strategy on it, and then try their strategy on a real account.

Wish you all the very best.

Posted in

My first post | Why Forex Mash!!

10:04 PM Dayal madan

Hello people, starting with my very first post of my blog, I am going to tell you why I thought of making a Forex blog! Well, I started trading Forex two months ago with an initial investment of 25$. I still remember I made 7.6$ profit one the very first day I started to trade, that's really awesome. But I'd no idea how much more profit I can be able to generate profit. Within seven days of trading, I reached a mark of 100$. Anyone cannot make such a huge profit online with a business other than this. 

Days passed by and I began to earn more and more, I made my first withdrawal of 60$ when I reached 200$ mark. But then, due to sudden market change, I made about 100$ in a single day and 278$ in the very next day. After all the deposit and withdrawal, I had a net profit of 400$ transferred into my bank account.

But there are also bad phases which i want to share with you all. On August 29, 2011, due to one wrong decision, I lost all of my equity in Forex, which was around 600$, but that was my profit that I lost. Actually if i could go back in time and save my loss, then I could had more than 1000$ into my bank account, but still 400$ is isn't bad enough. 

Now finally, after a month of break, i am again going to start Forex trading, and this time, I thought of posting all my experience onto a blog so that rookie traders can get to learn more about the profits and risks. Moreover, i'll also get referrals for my Forex account, so its not a bad deal. 
Well, lot of writing for this post, do, check out my daily/weekly updated blog for a new Forex Mash experience. 

Take care. .

Posted in
Subscribe to: Posts (Atom)
Twitter Delicious Facebook Digg Stumbleupon Favorites More