Trade #043 - entry:
BUY - EUR/JPY (H4)
Entry = 158.19
Trade #043 - exit
Exit = 158.53
Result = + 34 pips
Total = + 2269 pips (43 trades)
Thanks God, thanks skyson, thanks all
Wednesday, March 5, 2008
Trade #043
Trade #043 - entry:
BUY - EUR/JPY (H4)
Entry = 158.19
Trade #043 - exit
Exit = 158.53
Result = + 34 pips
Total = + 2269 pips (43 trades)
Thanks God, thanks skyson, thanks all
Trade #042
Trade #042
SELL -- EUR/JPY (H4)
Entry = 157.52
Exit = 157.52
Result = 0 pips
Total = + 2235 pips (42 trades)
See my live journal : here
Trade #041
Trade # 041
SELL - GBP/USD(H1)
Entry = 1.9795
Exit = 1.9670
Profit = + 125 pips
Total = + 2235 pips (41 trades)
See my live journal : Here
Trade #040
Trade #040
SELL -- GBP/JPY(H1)
Entry = 209.63
Exit = 209.43
Profit = + 20 pips
Total = + 2110 pips (40 trades)
My live journal here
Trade #039
Trade #039
BUY - GBP/USD(H1)
Entry = 1.9930
exit = 1.9845
Profit = + 15 pips
Total = 2090 (39 trades)
Thanks God ....
See my live journal :
Here
Trade #038
Trade #038
BUY - USD/JPY (H1)
Entry = 106.96
Exit = 107.30
Profit = + 34 pips
Total = + 2075 pips (38 trades)
Thanks God
See my real time live journal: here
Saturday, February 9, 2008
G7 gives China nod on yuan as Europe keeps up pressure
G7 gives China nod on yuan as Europe keeps up pressure
Sat Feb 9, 2008 3:01pm GMT
TOKYO (Reuters) - Group of Seven finance ministers and central bankers gave China a slight nod on its efforts to unshackle the yuan and allow more appreciation, even as European officials kept up their pressure on Beijing for more action.
The final communique from the G7's Tokyo meeting on Saturday said "we encourage" the need for greater appreciation of the yuan, a slight softening from "we stress" in the communique from the last gathering in October.
The tweak in language comes as China has the let the yuan rise at a quicker pace against the dollar and the euro, especially after European officials made a visit to Beijing late last year and pressed the case for a broader rise in the Chinese currency.
But Europe also remained steadfast in its calls for China to keep allowing the yuan to strengthen while expressing worries about the single currency's elevated level against the dollar and other major currencies.
European Central Bank President Jean-Claude Trichet said after the meeting that the message on the yuan is very clear: "We welcome and we encourage it to accelerate."
ECB Governing Council member Axel Weber said China should allow currency flexibility not just against the dollar but also against other major currencies.
European Union Monetary Affairs Commissioner Joaquin Almunia said the euro's broad trade-weighted value "has reached a level we can consider is above equilibrium level."
The yuan has been a hot-button issue for G7 powers over the past years who believe Beijing's tight management of the currency keeps it unfairly weak, giving China a trade advantage while contributing to global economic imbalances.
Those imbalances in China have been highlighted by its burgeoning trade surplus with the United States and Europe, as well as its swelling foreign reserves that at more than $1.5 trillion (770 billion pounds) are by far the biggest in the world.
But the yuan faded from the focus of this meeting as a response to the financial market turmoil and potential for a broadening global economic slowdown from the U.S. housing market's collapse took centre stage.
In his post-meeting press conference, U.S. Treasury Secretary Henry Paulson didn't field a single question on currencies.
The G7's stance on China and exchange rates has been an evolving one. Initially, the G7 statement referred to countries with large trade surpluses, such as those in Asia, allowing greater exchange rate flexibility.
In July 2005, China finally dropped the yuan's peg to the dollar and allowed it to move in a tight band against a basket of currencies.
The yuan's glacial rise against the dollar at the beginning gradually accelerated, and the currency climbed 3.4 percent in 2006 and then nearly 7 percent last year.
The G7 acknowledged these steps, but in 2006 the G7 took investors and analysts by surprise by attaching an annex to its communique on global imbalances.
Read More Here
Sat Feb 9, 2008 3:01pm GMT
TOKYO (Reuters) - Group of Seven finance ministers and central bankers gave China a slight nod on its efforts to unshackle the yuan and allow more appreciation, even as European officials kept up their pressure on Beijing for more action.
The final communique from the G7's Tokyo meeting on Saturday said "we encourage" the need for greater appreciation of the yuan, a slight softening from "we stress" in the communique from the last gathering in October.
The tweak in language comes as China has the let the yuan rise at a quicker pace against the dollar and the euro, especially after European officials made a visit to Beijing late last year and pressed the case for a broader rise in the Chinese currency.
But Europe also remained steadfast in its calls for China to keep allowing the yuan to strengthen while expressing worries about the single currency's elevated level against the dollar and other major currencies.
European Central Bank President Jean-Claude Trichet said after the meeting that the message on the yuan is very clear: "We welcome and we encourage it to accelerate."
ECB Governing Council member Axel Weber said China should allow currency flexibility not just against the dollar but also against other major currencies.
European Union Monetary Affairs Commissioner Joaquin Almunia said the euro's broad trade-weighted value "has reached a level we can consider is above equilibrium level."
The yuan has been a hot-button issue for G7 powers over the past years who believe Beijing's tight management of the currency keeps it unfairly weak, giving China a trade advantage while contributing to global economic imbalances.
Those imbalances in China have been highlighted by its burgeoning trade surplus with the United States and Europe, as well as its swelling foreign reserves that at more than $1.5 trillion (770 billion pounds) are by far the biggest in the world.
But the yuan faded from the focus of this meeting as a response to the financial market turmoil and potential for a broadening global economic slowdown from the U.S. housing market's collapse took centre stage.
In his post-meeting press conference, U.S. Treasury Secretary Henry Paulson didn't field a single question on currencies.
The G7's stance on China and exchange rates has been an evolving one. Initially, the G7 statement referred to countries with large trade surpluses, such as those in Asia, allowing greater exchange rate flexibility.
In July 2005, China finally dropped the yuan's peg to the dollar and allowed it to move in a tight band against a basket of currencies.
The yuan's glacial rise against the dollar at the beginning gradually accelerated, and the currency climbed 3.4 percent in 2006 and then nearly 7 percent last year.
The G7 acknowledged these steps, but in 2006 the G7 took investors and analysts by surprise by attaching an annex to its communique on global imbalances.
Read More Here
Trade #037
Trade #037
Buy - EUR/JPY (H1)
Entry = 158.22
Exit = 158.35
Total = + 2041 pips (37 trades)
See my live journal : here
Buy - EUR/JPY (H1)
Entry = 158.22
Exit = 158.35
Total = + 2041 pips (37 trades)
See my live journal : here
Thursday, February 7, 2008
Wednesday, February 6, 2008
Northern Rock-style crisis 'would cause chaos in Eurozone'
Northern Rock-style crisis 'would cause chaos in Eurozone'
By Edmund Conway and Katherine Griffiths
Last Updated: 1:22am GMT 07/02/2008
A Northern Rock-style disaster would cause "chaos" if it happened in the Eurozone, the European Commissioner for Internal Markets admitted last night.
In a speech to the Society of Business Economists, Charlie McCreevy warned that with 44 financial regulatory institutions on the Continent it was almost impossible to conceive of how they would unite to combat a potential Europe-wide bank run.
Responding to a question from economist Tim Congdon about what would have happened had Northern Rock been based in the Eurozone, he said: "The reality is we would be in a mess. There would be chaos. There are 44 regulatory institutions and we have to find some modus operandi to get them together, because as sure as night follows day there will soon be a crisis we all have to deal with."
While not in favour of a single regulator, Mr McCreevy said the Eurozone needed a lead institution.
The admission came as the UK regulator said it was reviewing its practices in light of the Northern Rock crisis.
The Financial Services Authority (FSA) said it was considering whether it can improve its supervision of companies and reviewing the way it analyses a company's liquidity.
The FSA unveiled the exercise as it published its business plan for 2008. It said spending would increase by 7pc to £323m this year, as it faces increased uncertainty about the economic outlook and a need to beef up supervision in certain areas.
Almost all of the budget increase will be met by bigger contributions to the regulator from individual companies.
Politicians attacked the FSA in the wake of the Northern Rock crisis for its failure to put the brakes on the bank, which relied on wholesale debt markets for 75pc its funding.
Yesterday, Hector Sants, the FSA's chief executive, said: "The outcome of the follow-up initiatives arising from the various reviews of Northern Rock is likely to cause us to reassess our priorities."
Mr Sants said he had commissioned a "lessons learned" review of the FSA's approach to supervision. The results will be published in March. The FSA is also co-operating with the Bank of England to consider the UK's approach to assessing liquidity, Mr Sants added.
"We are conscious that the coming year presents more difficulties and uncertainties than we have faced in recent times," he said.
The regulator said it is also working with the other members of the Tripartite Authorities - the Treasury and the Bank - to review the way they respond to an emergency situation such as the Northern Rock debacle.
The FSA said firms needed to have a comprehensive view of all the possible demands on liquidity that could arise from various sources and develop plans to meet those demands. They should also maintain an emergency supply of cash.
Source:Telegraph.co.uk
By Edmund Conway and Katherine Griffiths
Last Updated: 1:22am GMT 07/02/2008
A Northern Rock-style disaster would cause "chaos" if it happened in the Eurozone, the European Commissioner for Internal Markets admitted last night.
In a speech to the Society of Business Economists, Charlie McCreevy warned that with 44 financial regulatory institutions on the Continent it was almost impossible to conceive of how they would unite to combat a potential Europe-wide bank run.
Responding to a question from economist Tim Congdon about what would have happened had Northern Rock been based in the Eurozone, he said: "The reality is we would be in a mess. There would be chaos. There are 44 regulatory institutions and we have to find some modus operandi to get them together, because as sure as night follows day there will soon be a crisis we all have to deal with."
While not in favour of a single regulator, Mr McCreevy said the Eurozone needed a lead institution.
The admission came as the UK regulator said it was reviewing its practices in light of the Northern Rock crisis.
The Financial Services Authority (FSA) said it was considering whether it can improve its supervision of companies and reviewing the way it analyses a company's liquidity.
The FSA unveiled the exercise as it published its business plan for 2008. It said spending would increase by 7pc to £323m this year, as it faces increased uncertainty about the economic outlook and a need to beef up supervision in certain areas.
Almost all of the budget increase will be met by bigger contributions to the regulator from individual companies.
Politicians attacked the FSA in the wake of the Northern Rock crisis for its failure to put the brakes on the bank, which relied on wholesale debt markets for 75pc its funding.
Yesterday, Hector Sants, the FSA's chief executive, said: "The outcome of the follow-up initiatives arising from the various reviews of Northern Rock is likely to cause us to reassess our priorities."
Mr Sants said he had commissioned a "lessons learned" review of the FSA's approach to supervision. The results will be published in March. The FSA is also co-operating with the Bank of England to consider the UK's approach to assessing liquidity, Mr Sants added.
"We are conscious that the coming year presents more difficulties and uncertainties than we have faced in recent times," he said.
The regulator said it is also working with the other members of the Tripartite Authorities - the Treasury and the Bank - to review the way they respond to an emergency situation such as the Northern Rock debacle.
The FSA said firms needed to have a comprehensive view of all the possible demands on liquidity that could arise from various sources and develop plans to meet those demands. They should also maintain an emergency supply of cash.
Source:Telegraph.co.uk
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