Thread: Discuss the AUD/USD, NZD/USD , USD/CAD and more

Originally Posted by SkiBunny

Something plenty cheap that it would suck vacationers into Greece instead of elsewhere in Europe and strike a blow to EU tourism and economy. Hmm, I would love a bargain holiday in the Greek Islands, if I can pay drachma prices instead of Euro prices. Greece probably has the upper hand in the EU debt negotiations when you think about it.



Very true. However if policymakers had not forced FASB (under threat of death) in 2009 to repeal mark-to-market accounting, at least the banks could not hide losses by valuing “assets” however they please. And if they did so and if the external auditors signed off, investors had solid legal recourse against both the auditors and the company. Like with Enron and its auditors Arthur Andersen.

Anyway rumour is that the JPM loss is $18-billion not $2-billion. As long as the trade is open, nobody outside JPM will really know because, again, JPM can value it on their books how they please. And as you said, who knows how many more of these cockroaches are out there?

Interestingly, when the Feds indicted Arthur Anderson (which may have been the first time in history that they indicted an entire firm ) the basis was the fact that they interfered with the federal investigation, not the fraud itself.
I'm sure class action lawyers are licking their chops and preparing briefs for a suit against JP Morgan for this - but they have had many lawsuits over the last few years and they settle them by writing a check. I guess they figure its part of the cost of doing business these days. As far as the credit default swap regulations, the fact that the swaps have to be traded on exchanges is a big deal as the market is no longer opaque. But I don't know what type of horrific catastrophe would have to ensue to force the governments of the world to stop banks from dealing in derivatives .There is a demand for derivatives, somebody is going to underwrite them. Jamie Dimon has been very outspoken about the concept that the American banks have more regulations than the Europeans and therefore they have a competitive disadvantage in the global marketplace. Maybe any type of real global reform would have to originate in the EU.

[QUOTE=SkiBunny;1144933]Something plenty cheap that it would suck vacationers into Greece instead of elsewhere in Europe and strike a blow to EU tourism and economy. Hmm, I would love a bargain holiday in the Greek Islands, if I can pay drachma prices instead of Euro prices. Greece probably has the upper hand in the EU debt negotiations when you think about it.

Cheap is one thing, worthless is another. When Russia defaulted in the 1990s the ruble became worthless, people didn't use it. They used the US dollar, or barter. Greece might have to have another country's permission to peg the drachma - to 1/100 the value of a euro maybe?

Hello Traders! Its time for the Lightning ROUND

In 1 or 2 lines tell us if you are Long, Short or Flat any of the commodity currencies

If you want to add a stop, limit, or price, feel free. Chart not necessary!

Let's HAVE Some Fun With THIS and see how many posts we can rack up to get a feel of the real time sentiment!

I am Long Euro 1.2834

Originally Posted by Gregory McLeod

Hello Traders! Its time for the Lightning ROUND

In 1 or 2 lines tell us if you are Long, Short or Flat any of the commodity currencies

If you want to add a stop, limit, or price, feel free. Chart not necessary!

Let's HAVE Some Fun With THIS and see how many posts we can rack up to get a feel of the real time sentiment!

I am Long Euro 1.2834

short aud/usd from 1.01 - took profit on half. Want to see if stocks make a big dip down and rebound back upwards, in which case we could see a move down in dollar. if not I think aud/usd could go to .9860 before a rebound

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs Bears - The spread Betting Morning Update May 14 - 2012 | DailyFX: Bulls vs Bears on Blip

Originally Posted by fahmy313

my short positions

DailyFX Important Economic Announcements to Watch for the Week of May15 to May 19th

Though there are no US economic data releases today, the Australian monetary minutes come out later this evening that could be a catalyst for further moves below parity for the Aussie Dollar.

Mark these dates on your calendar and be careful of extreme volatility around these important releases.

Go to Economic Calendar | DailyFX Forex Events Calendar | DailyFX for a detailed calendar highlighting all the upcoming announcements. You can even customize it for your time zone and filter the countries you want to highlight.

Scalping the James Stanley way!

Today I went short EUR/USD given my own analysis and bias but used James’s Finger-trap strategy to generate the entry signal. The good thing with this setup is that it’s very straight forward to apply James’s strategy and could therefore be picked up fairly easy by new traders.

• Something I would like to add is not to enter the market when we start to reach the S2 and R2 of the Pivot point indicator, as we tend to get reversals at these levels.
• I would also ONLY use the strategy using the 1 hr and 5 min time frame during the European trading session i.e. 7:00 GMT to 17:00 GMT as the momentum fades out after 17:00 GMT.
• I need to know that I will at least make 1-1.5 times the risk before entering a trade i.e. if I am risking 15 pips then I need to be able to make 22.5 pips. I use the pivot points levels and my own analysis (Bulls vs. Bears webinar and my charts) to know if there is scope of the trade to be profitable.

For more on the Finger Trap strategy feel free to read this article Short-Term Momentum Scalping in the Forex Market | DailyFX

Webinar which explains my strategy
http://forexforums.dailyfx.com/eur-u...-zambrano.html


Closed EUR/USD short
5 min




Active NZD/USD short
As I missed the breakout I instead sold bounce - this entry is not covered in James strategy - I used Fibonacci to give me a selling zone and I looked at the potential reward versus the potential risk.

Originally Posted by Mary R

short aud/usd from 1.01 - took profit on half. Want to see if stocks make a big dip down and rebound back upwards, in which case we could see a move down in dollar. if not I think aud/usd could go to .9860 before a rebound

Just banked profits from Cable, Euro & Ozzie. Total 184.9 pips for the day. Went back in on Ozzie & Euro. Target for Oz 0.9854. Target for Euro. 1.2678..... Now I'm off to bed to recharge the batteries for tomorrows assault on the markets.

DailyFX Speculative Sentiment Index for May 14, 2012

Hello Traders! It's me again. Hope you are making some pips! Price action is fairly slow but you can take a breather before the New York session and see how retail traders are positioned in the Euro this morning using the Speculative Sentiment Index.

For you newcomers, the Speculative Sentiment Index or SSI is a contrarian indicator that shows how FXCM traders are positioned. If more traders are long the Euro than short, then we could expect prices to fall. If more traders are position short than long, then we could expect price to rise.

SSI is released twice daily and can be accessed by Real FXCM trading accounts here: Forex Trading Signals | DailyFX

You can use the same link to register with a demo and gain access as well.

SSI is also updated once a week on the DailyFX homepage:
Forex Sentiment | Forex Technical Analysis | DailyFX

Originally Posted by Ikee

Just banked profits from Cable, Euro & Ozzie. Total 184.9 pips for the day. Went back in on Ozzie & Euro. Target for Oz 0.9854. Target for Euro. 1.2678..... Now I'm off to bed to recharge the batteries for tomorrows assault on the markets.

Nice work Ikee! Dinner is on you today! Have a good sleep! We will see you tomorrow.

Originally Posted by fahmy313

Really good Fahmy

Originally Posted by Alejandro Zambrano

Really good Fahmy

Fahmy is Fabulous!

Originally Posted by Alejandro Zambrano

Really good Fahmy

thanks man
i am just student comparing you
i have closed my positions on 0.9960 and opend new short from 1.0000
what do u think about that ?

Originally Posted by Gregory McLeod

Fahmy is Fabulous!

thanks Greg
i appreciate that
hope you great profit