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07-08-2009, 11:37 AM
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Quote:
Originally Posted by CodyB
we have reached my objective posted yesterday and yes the others followed cable...it has been a very nice 24 hrs with cable leading the way......I am done for the day
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Cody,
Are you in the USD/CHF OR USD/CAD |
07-08-2009, 12:30 PM
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Quote:
Originally Posted by adam6655nyc
Cody,
Are you in the USD/CHF OR USD/CAD
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I am done and very happy with results this week so far, wont risk overtrading now  ...banked pips are good pips. Its too nice outside.
will come back at 7pm est and do my analysis for the asian and euopean sessions
__________________
Don't Chase the market let the market come to you
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07-08-2009, 12:34 PM
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Quote:
Originally Posted by adam6655nyc
the JPY pairs are outperforming the USD pairs
Hope you got some of that on your plate. I am pretty sure you did
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some but did not expect such a huge fall and got out wayyy to early...didnt lose anything so its was good. next trade?
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Don't Chase the market let the market come to you
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07-08-2009, 12:59 PM
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Join Date: Feb 2009
Posts: 786
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Quote:
Originally Posted by CodyB
I am done and very happy with results this week so far, wont risk overtrading now ...banked pips are good pips. Its too nice outside.
will come back at 7pm est and do my analysis for the asian and euopean sessions |
It is nice outside, I was going to go out too but entered into one more trade lol.....will close it few minutes before AA earnings
Are you in the TRI-STATE area? |
07-08-2009, 01:10 PM
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Join Date: Feb 2009
Posts: 786
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Quote:
Originally Posted by CodyB
some but did not expect such a huge fall and got out wayyy to early...didnt lose anything so its was good. next trade?
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I think the move today in the FX market was due to that guy who stole the GS trading platform lol.....funny that he justified his action by saying " I just did not mean to download that...I downloaded too much" lol
So his guys overseas activated the platform and start trading lol
expect more tomorrow |
07-08-2009, 01:20 PM
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Join Date: Jun 2009
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Will this be last attempt to go down? Rebound from here?
Long at 3840, chicken out at 3864, just 25 pips.
Anyone knows what happen to japan? Why such a crazy moved happen today?
Last edited by pichoo; 07-08-2009 at 03:12 PM..
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07-08-2009, 03:17 PM
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Posts: 38
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S & P close above 875
What a day !
I missed out today because I had to get check some feeding systems in a hog barn, yes a hog barn  and was away from my desk at the office.
Major Indices all seemed to hit a sort of bottom and made some good climbing before the NY market close. S & P made it back to 879.56, Dow 8178 after going to 8100.
Cody how would you suggest to persive this up leg at the end of the day. All us/x or x/us currencies have followed.
Some very good pips can be made if the entry is good and markets continus in it'S same direction.
I'm asking Cody but we are all Cody's now  so this is intended to anyone interested in giving a response !
Good pips to @
Sam ! |
07-08-2009, 03:19 PM
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Join Date: Mar 2008
Posts: 844
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European banks
I find Europe's approach to banking interesting. Evidently the best way to make the system work is to use more leverage, not require the banks to raise more capital as in the U.S. Basel II banking standards are already weaker than U.S. banking standards. This seems rather dangerous to use more leverage when leverage is what got everyone into this pickle.
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Talk about shutting the stable door after the horse has bolted. European finance ministers are drawing up plans for how to deal better with the next financial crisis. Germany is one of the few countries openly worried about the decline in bank credit during this one. Last weekend, Berlin suggested it might “force” its banks to lend more – and that the Bundesbank might even step in to their place. This week it has been lobbying its European partners to relax Basel II rules, which would allow banks to hold less capital in the downturn and so lend more. >>>>
Of course in the U.S. the Federal Reserve Hedgfund is busily snapping up Fannie and Freddie mortgages, and now they are accepting 125% loan to value loans.
This is going to be extremely damaging to these currencies. The U.S. Federal Reserve is borrowing short and lending long. This has been the cause of nearly every banking crisis throughout history. The average maturity of U.S. Treasury debt is 7 years. If the U.S. government finds itself unable to roll over this debt at favorable rates in the future we will have major problems. Can you say devaluation? Banana Republic?
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07-08-2009, 03:22 PM
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Euro/USD
Despite the fact that in the IMF report, EURO is the only area where they predicted a lag in recovery...euro bounce was stronger than the gbp and aud
although I am on the sideline when it comes to EURO (except euro/gbp) it must be frustrating for shorts here, I know it will drop like a rock just like gbp did this week (after it made a higher high 167 and reversed that day and ended at 1.64 same day) same thing happened with euro/jpy (made the high of 1.37 and closed same day at 1.3450) then there is gbp/jpy (closed 1.62 then dropped same day to 1.58)
so EU will drop when you do not expect it, the best thing to do , is short at higher point and set tight with your position
I am planning on watching this dog closely, hopefully I will get it around 142 and I will set tight on a loss if it goes all the way up to 1.50, I will just ignore that position....it is so annoying.
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07-08-2009, 03:27 PM
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Posts: 786
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Quote:
Originally Posted by samtao
What a day !
I missed out today because I had to get check some feeding systems in a hog barn, yes a hog barn and was away from my desk at the office.
Major Indices all seemed to hit a sort of bottom and made some good climbing before the NY market close. S & P made it back to 879.56, Dow 8178 after going to 8100.
Cody how would you suggest to persive this up leg at the end of the day. All us/x or x/us currencies have followed.
Some very good pips can be made if the entry is good and markets continus in it'S same direction.
I'm asking Cody but we are all Cody's now so this is intended to anyone interested in giving a response !
Good pips to @
Sam ! |
it is good that you missed today, judge by the quiet silent board today, you can tell that many people lost today ....usually this board has charts flying left and right...today I was the only one here talking to myself lol
I think the best thing now is to give the market a day to digest this move before you can judge how the forces will interact with all the dead bodies
JPY was the crown winnner today....all pairs are down 400-500 pips (gbp/jpy over 750 pips in half an hour)
USD still gathering supporters ....no one believe that the dollar has power to rally but it is showing teeth today
the rest are in the decline mode, auto decline mode...we will have a bounce tonight for sure but look for another drop.
Last edited by adam6655nyc; 07-09-2009 at 02:44 AM..
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07-08-2009, 03:30 PM
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Join Date: Feb 2009
Posts: 786
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Quote:
Originally Posted by qed
I find Europe's approach to banking interesting. Evidently the best way to make the system work is to use more leverage, not require the banks to raise more capital as in the U.S. Basel II banking standards are already weaker than U.S. banking standards. This seems rather dangerous to use more leverage when leverage is what got everyone into this pickle.
<<
Talk about shutting the stable door after the horse has bolted. European finance ministers are drawing up plans for how to deal better with the next financial crisis. Germany is one of the few countries openly worried about the decline in bank credit during this one. Last weekend, Berlin suggested it might “force” its banks to lend more – and that the Bundesbank might even step in to their place. This week it has been lobbying its European partners to relax Basel II rules, which would allow banks to hold less capital in the downturn and so lend more. >>>>
Of course in the U.S. the Federal Reserve Hedgfund is busily snapping up Fannie and Freddie mortgages, and now they are accepting 125% loan to value loans.
This is going to be extremely damaging to these currencies. The U.S. Federal Reserve is borrowing short and lending long. This has been the cause of nearly every banking crisis throughout history. The average maturity of U.S. Treasury debt is 7 years. If the U.S. government finds itself unable to roll over this debt at favorable rates in the future we will have major problems. Can you say devaluation? Banana Republic?
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Qed, where have you been? Have not seen you in ages...hope all is well
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07-08-2009, 04:03 PM
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Join Date: Mar 2008
Posts: 844
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Quote:
Originally Posted by adam6655nyc
Qed, where have you been? Have not seen you in ages...hope all is well
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I have been around but am mainly just trying to stay focused on making money. |
07-08-2009, 04:18 PM
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Join Date: May 2009
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Hi Sylvester,
I'm sorry to hear that you've had problems, although the last 6-7 days have been a perfect run for some poeple, I'll perhaps include myself too.
Look at the picture I've posted, you need to avoid things in Red Circle and focus on green thingy
Remember price moves in Waves ...
Quote:
Originally Posted by Sylvester
Hi,
I need some help because I'm confused with the way trading is going this week.I've been lossing money since yesterday with MACD,Fiboncci signs.
Nothing is helping me at all this week.What advice can you give me in other to make a strong come back?
Regards
Sylvester
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07-08-2009, 04:29 PM
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Join Date: May 2009
Posts: 922
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Yesterday was a very important day
It looks like the Greenback Bulls have finally won the tug-of-war. Please take extreme care in the coming days and just flow with the river rather than forcing your way against the traffic.
We might see a jump back for EUR for next day or two but the Long Term Super Cycle is turning into a Dollar Market by every single hour.
Once again, stick the basics of swing trading and make pips.
Good luck.
Quote:
Originally Posted by D_Caron
It was a huge help actually, I was getting ready to exit a short position at a loss because I didn't like what I was seeing, and your chart basically confirmed I should stay in, I just exited with a nice profit. thanks.
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07-08-2009, 04:51 PM
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Member
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Join Date: Mar 2008
Posts: 844
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Quote:
Originally Posted by adam6655nyc
Despite the fact that in the IMF report, EURO is the only area where they predicted a lag in recovery...euro bounce was stronger than the gbp and aud
although I am on the sideline when it comes to EURO (except euro/gbp) it must be frustrating for shorts here, I know it will drop like a rock just like gbp did this week (after it made a higher high 167 and reversed that day and ended at 1.64 same day) same thing happened with euro/jpy (made the high of 1.37 and closed same day at 1.3450) then there is gbp/jpy (closed 1.62 then dropped same day to 1.58)
so EU will drop when you do not expect it, the best thing to do , is short at higher point and set tight with your position
I am planning on watching this dog closely, hopefully I will get it around 142 and I will set tight on a loss if it goes all the way up to 1.50, I will just ignore that position....it is so annoying.
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Yes, it is frustrating when the leading indexes in Europe are horrible and the leading index in the U.S. is predicting a much faster recovery. It is noteworthy though that the EURUSD has had negative reactions to German Factory orders and Industrial production. I guess one has to weigh faster growth in the U.S. with the combination of huge deficits and fiscal irresponsibity, against a slightly better fiscal position in Europe and slower growth. Europe cannot escape exploding deficits either as slow growth will produce little in the way of tax revenues.
And of course we know that Europes industrial production and factory orders are not from sustainable real demand, but cash for clunkers. Soon the U.S. will see its numbers ramp up as cash for clunkers takes effect here and we can delude ourselves as well.
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