Fast Trading the FOMC Statement +30 pips

Fed plans to leave rates near zero for some time. Read statement released by the Fed after its Jan. 27-28 meeting on interest rate policy.

News Event: US FOMC Statement
Short GBP/USD @ 1.4250 for +25 & 5 pips

Newstrading Update: ECB Cut Rate by 50 Basis Points

Soon after the (Newstrader EA) program's exits, we saw the EUR/USD market did a major reversal of more than 150 pips. The program managed to make a lucky escape just in time. I was quite pleased with the fast scalp which in the end yielded a total of +58 pips.

News Event: ECB Press Conference
Long EUR/USD @ 1.3186 for +25 & 33 pips

Newstrading EA: Making the Most Out of UK Rate Cut

The Bank of England has cut interest rates to 1.5%, the lowest level in its 315-year history.

I managed to established two long positions with the newstrader EA, and the newstrading program gave me the largest profit of this month so far (+89 pips).

Below is the price action following the interest rate announcement.

Long GBP/USD @ 1.5110 for +25 & 64 pips

The Start of 2009 & Daytrading Routine

Monday marked the start of the first full trading week for 2009. I officially kicked off my new year trading with two straight winners. Price volatility had come down quite a lot recently and I was able to make good use of my day trading program/plan. Owing to efforts made in 2008, now I keep a simple, automatic and discipline daytrading routine.

Below shows the two newly closed positions. The captured screenshots show my EA program's automatic entries and exits. Two exit targets were employed which produced a combined profit of +139 pips with the use of EA programs. A possible +85 pips with manual trade. All real-time trade entries and exits can be found on my daily spreadsheets - which is made available to my program subscribers.

European Session
No. of signal recommendations: 1
End-of-session results: USD/CAD +85 pips

100-pip EA
No. of auto-entries: 1
USD/CAD +40 & 43.5 pips
EA screenshot attached:


Day 15 - London Open Breakouts
No trade EUR/USD
Short EUR/JPY at 127.087 with stop at 127.687. Final Profits: +40 & 15.5 pips
EA screenshot attached:

Last-Gasp 2008 Winners & Let's Start Over Again

100-pip EA Program @ ScoutForex (+233 pips for the month, +3,793 pips for the year)

Wed, Dec. 31st
USD/CAD + 40 & 50 pips

Tue, Dec. 30th
AUD/JPY + 40 & 73 pips
USD/CAD + 40 & 100 pips

Newstrader EA Program @ ScoutForex (+411 pips for the month, +3,317 pips for the year)

Tue, Dec. 30th
US Consumer Confidence + 25 & 46 pips
US Chicago PMI + 1 & 1 pips

2008 was finally behind us. Nonetheless, it was an exciting and rewarding year for all of us. Let's hope we can keep this up in the new year.

End of Year & Daytrading Profits

Last full trading week of the year. We managed some strong gains today using the same daytrading method I introduced back in February. The system had proved useful and carried me far this year.

During these couple of months, I setup a lot of day trades which gave me a lot of small but consistent profits. Using the same approach, just recently, I also managed to establish some long-term positions which had become fruitful as the US dollar got seriously hammered in the last few days. I had been adding positions since November 24: Discretionary Forex Trades Paying Off For Now.

It has been an eventful year for me. I am grateful with the results. We'll be winding down our trading for the year and getting ready for 2009 as we draw closer to the holiday period.

Today's Signals: European Session

No. of signal recommendations: 2
End-of-session results: GBP/USD +95 pips & GBP/JPY +175 pips

Ecstatic London Open Breakout Actions on Friday (Day 13: +787 pips, Up 229 pips)

Day 13. London Open Breakouts. Overnight action saw the yen rallied to multi-year high against the dollar to 88.53 at one point. Yes, 88.53. This was due to the auto-bailout vote failing at the senate. Anyway, at the opening of the London trading session, we went long in the Euro markets, i.e. Long EUR/USD and EUR/JPY.

Here are the results !

Long EUR/USD 1.3298 with stop at 1.3228. Final profits: +40 & 49 pips

Long EUR/JPY 119.47 with stop at 118.87. Final Profits: +40 & 100 pips

All Results Since the Start +787 pips (Also click here to subscribe)

I may post some screenshots with LOBS' entries and exits later.

Boosting the Cross-Yen Account by Few More Pips

The end-of-session daytrading system had added three more cross-yen winners for this week. Up 400 pips for this month so far. I really liked watching the price action this week. Hope we could continue to find more winning trades.

Check out this encouraging post: Day Traders Thrive in Volatile Market

Europe Session
No. of signal recommendations: 3
Cross- yen results: EUR/JPY+10 pips , AUD/JPY +10 pips & CHF/JPY +30 pips

100-pip EA
No. of auto-entries: 1
EUR/JPY +40 & 7 pips

My Simple Yet Effective Trade Ideas

Daytrading sessions resumed today. My method had immediately yielded good payouts with the yen-crosses pairs in the US session. Final results of +315 pips.

US Session
No. of signal recommendations: 4
Yen-crosses results: GBP/JPY (+195 pips), EUR/JPY (+50 pips), AUD/JPY(+70 pips) and CHF/JPY (0 pip)

100-pip System
No. of dynamic entries: 2
GBP/JPY & AUD/JPY

Bank of England Cut UK Rates to 2% Today

Is the US FED to be the next central bank to cut rate on Dec 16?

Click here for the latest World Interest Rates Table.