Sorry to disturb you guys again, I have successfully created a blinking led.
But the problem I'm facing right now is I wanted to create a WRITE method to record all the details that shown on Python Shell.

This is my code:
import RPi.GPIO as GPIO ## Import GPIO library
import time ## Import 'time' library. Allows us to use 'sleep'
import datetime
GPIO.setmode(GPIO.BOARD) ## Use board pin numbering
GPIO.setup(7, GPIO.OUT) ## Setup GPIO Pin 7 to OUT
##Define a function named Blink()
def Blink(numTimes,speed):
for i in range(0,numTimes): ## Run loop numTimes
print "Iteration " + str(i+1) ## Print current loop
GPIO.output(7,True) ## Switch on pin 7
time.sleep(speed) ## Wait
GPIO.output(7,False) ## Switch off pin 7
time.sleep(speed) ## Wait
print "Done" ## When loop is complete, print "Done"
GPIO.cleanup()
## Ask user for total number of blinks and length of each blink
iterations = raw_input("Enter total number of times to blink: ")
speed = raw_input("Enter length of each blink(seconds): ")
## Start Blink() function. Convert user input from strings to numeric data types
Blink(int(iterations),float(speed))
While True:
#Open Log File
f=open('leddata.txt','a')
now = datetime.datetime.now()
timestamp = now.strftime("%Y/%m/%d %H:$M")
outvalue = Blink()
outstring = str(timestamp)+ " " + str(outvalue) + "\n"
print outstring
f.write(outstring)
f.close()
I get quite a number of errors and very lost now.
Hope you guys could help me out with it, as soon as possible, thanks in advance, guys.