Trader456's trading ideas - page 6
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EURGBP is trading in an uptrend channel, currently at the bottom of the channel.
Bought 50,000 EURGBP at 0.7902
Stop level at 0.7875
Target level at 0.7928
Chart: Forex and Binary Trading: Bought 50,000 EURGBP at 0.7902
USDCHF maintains its downtrend channel, Daily stochastics is pointing down as well. Better than expected consumption indicator is providing some strength for Swiss Franc. Shorted USDCHF at 1.0324Stop level at 1.0366Target level at 1.0250 Chart: Forex and Binary Trading: USDCHF maintains its downtrend channel
Stop triggered. Loss is US$202.59.
I got stopped out in my USDCHF position, but my indicators and charting still shows that USDCHF deserves to go lower.
Shorted 50,000 USDCHF at 1.0447
Stop level at 1.0492
Target level at 1.0320
EURGBP should continue to trade sideways
European data has turned downturn, UK data has continued to be weak, so EURGBP should continue to trade in range.
Daily stochastics is pointing up for EURGBP.
Bought 20,000 EURGBP at 0.7878
Stop level at 0.7820
Target level at 0.7950
Chart: https://www.mql5.com/go?link=http://binarytrading.blogspot.com/2008/08/eurgbp-should-trade-sideways.html
In today's world, there is no such thing as a stable and secured career. If your company is not doing well in this recessionary environment, employers may choose to reduce its labour cost and retrench some of its staff.
But we as people in the society still have bills to pay, we cannot afford losing a job, income must still flow into our bank account on a monthly basis.
This is why we must try to achieve a few income streams, so in the event that we lost our job (I hope not), at least our secondary incomes are still flowing in.
One of the way to earn secondary income is through blogging.
How to do it:
1. Set up a few websites from free provider at blogger.com
Some people may prefer to buy a domain and pay for a server maintenance because it has a nicer website address but this incur costs.
I prefer to use a free provider because whatever that I earn from online is net profit for me. Cost of my blogging is zero.
2. Setup account at Adsense
Adsense is a pay-per-click advertising system from Google. By setting up adsense into your blog, you can earn revenue when your readers click on the ads from Adsense.
3. Tie up with a company to do marketing for them
Many people has this misunderstanding that if they setup a website, they must create their own things to sell. This is absolutely not true, you can do marketing for other companies. Whenever your readers open account OR purchase items from your website, you will earn some commission. In short this is call affiliate marketing.
Currently I am doing affiliate marketing for a European trading company call ForexYard. Commission for 1 standard account opened is US$250, commission for 1 mini account opened is US$100. You can tie up with ForexYard by register yourself here: FOREXYARD Forex Affiliate Program - Earn unlimited commissions promoting Online Currency trading
4. Install Google Analytics in your website
This allows you to track a few information that will be useful to you:
a. Where do your readers come from?
b. What is the referring websites?
c. Which contents are being actively being read?
d. What are the keywords that leads the readers to your website?
e. How many readers go to your website each day?
f. How much time do your readers spend reading your website?
5. Create traffic in your website
After setting up your own website, adsense account and affiliate account, you need to start creating traffic in your website. Meaning you need a lot of people to go into your website, then there is a higher chance that they will click on adsense ads and open account.
You need to write contents that will interest people to come to your website. And the content of your website must be updated regularly so your readers will go your website again and again.
1st year of blogging can be very disappointing for your online revenue as few people know about your website. Usually after the 1st year, your website will be more popular, more people will be aware of your website presence and revenue will increase.
Who knows? Your online revenue may eventually be greater than your full time job salary.
EURGBP strongly rebounds
U.K. pound fell against the euro for a third day and dropped versus the dollar.
The pound had its biggest weekly drop against the dollar last week since mid-June as manufacturing business shrank by the most in a decade, adding to evidence a recession is looming.
The faltering economy will weaken the pound to $1.90 and to 80 pence per euro by year-end, according to the median forecast of analysts and strategists surveyed by Bloomberg. The yield on the 10-year note will end the year at 4.87 percent, according to a separate survey.
Last Friday I had bought 20,000 EURGBP at 0.7878, stop level at 0.7820, target level at 0.7950. Current rate is 0.7916, unrealised profit is US$141.48.
Chart: Forex and Binary Trading: EURGBP strongly rebounds
AUDUSD looks oversold
Techically AUDUSD looks oversold based on stochastics, with good support at around 0.9300.
Short term chart shows that AUDUSD is picking up from a base of 0.9280.
Market expects Reserve Bank of Australia to keep its benchmarket rate at 7.25% tomorrow. I predict RBA to keep interest rate the same. So I expect AUDUSD to move higher after the announcement.
Bought 20,000 AUDUSD at 0.9334
Stop level at 0.9260
Target level at 0.9450
Chart: https://www.mql5.com/go?link=http://binarytrading.blogspot.com/2008/08/audusd-looks-oversold.html
Two indicators signal buy for USDJPY
Two of the proven indicator for USDJPY is Parabolic and MACD, currently both indicators are signalling buy.
But I have to warn my readers that FOMC is going to announce their interest rate decision at 18.15 GMT Time, so we have to expect volatility.
Bought 20,000 USDJPY at 107.86
Stop level at 107.00
Target level at 108.60
Chart: https://www.mql5.com/go?link=http://binarytrading.blogspot.com/2008/08/two-indicators-signal-buy-for-usdjpy.html
Two indicators signal buy for USDJPY Two of the proven indicator for USDJPY is Parabolic and MACD, currently both indicators are signalling buy. But I have to warn my readers that FOMC is going to announce their interest rate decision at 18.15 GMT Time, so we have to expect volatility. Bought 20,000 USDJPY at 107.86Stop level at 107.00Target level at 108.60 Chart: https://www.mql5.com/go?link=http://binarytrading.blogspot.com/2008/08/two-indicators-signal-buy-for-usdjpy.html
Target level 108.60 is reached, profit is US$136.
Bearish on NZDUSD
High yield currencies continue to suffer for the past 2 weeks as market perceives that the high interest rate will not be sustainable, sooner or later their central banks will have to cut interest rate to support their economy.
Kiwi is one of the high yield currency.
Due to weak economy data, market expects central bank to cut its interest rate over the next few months. Falling commodities prices also help to push Kiwi lower.
Bollingerband is showing sell signal for the daily chart. Hourly chart is still a downtrend. The trend is your friend.
Shorted 20,000 NZDUSD at 0.7199
Stop level at 0.7278
Target level at 0.7100
Chart: Forex and Binary Trading: Bearish on NZDUSD
ECB President Mr. Trichet said that recent economic data pointed toward "a weakening of real GDP growth in mid-2008" following strong growth during Q1.
I have been waiting for a good entry level to buy EURGBP. This has pushed EURGBP lower, creating an opportunity to buy EURGBP at lower price.
Both stochastic and comm channel had signaled buy for EURGBP.
Bought 20,000 EURGBP at 0.7912
Stop level at 0.7890
Target level at 0.7950
Chart: https://www.mql5.com/go?link=http://binarytrading.blogspot.com/2008/08/bought-20000-eurgbp.html