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06-01-2007, 10:21 AM
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Moderator
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Join Date: Jan 2007
Posts: 399
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We Answered Your Questions!
Here are the responses to this week's questions! Keep on posting and we will respond next Friday.
Kathy and Boris' Q&A 06-01-07 Responses |
06-01-2007, 12:50 PM
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Registered User
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Join Date: Jun 2007
Posts: 2
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Hello Kathy and Boris. Good morning.
Related to NFP data news, I was reading this friday(2007/06/01) related to it and the currency pair used for trade was EURUSD.
So, the question is why this pair reacts better to this news than others?
For example, why not GBPUSD or USDJPY?
What are the factors that make a currency more sensitive to one news than other?
Sorry, I know it is basic question!
Thank you very much!
Joao Paulo
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06-01-2007, 05:18 PM
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Registered User
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Join Date: Jun 2007
Posts: 1
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Dear FXCM staff,
The historic level of the USD/CAD pair suggests a buying opportunity.
What signals would you suggest to decipher an entry point?
-Wallstkilla
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06-01-2007, 05:29 PM
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Join Date: Jun 2007
Posts: 1
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How important is technical analysis during a major economic release, such as non-farm payrolls? In particular, how strong are support and resistance levels?
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06-01-2007, 06:23 PM
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Registered User
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Join Date: Jun 2007
Posts: 2
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Given that technical analysis is said to filter out effects of sentiments on movement in the currency market, what (if any) market conditions make it important to consider the effect of market sentiment when making trades?
Thanks!
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06-02-2007, 01:59 PM
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Member
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Join Date: May 2007
Posts: 7
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Support/Resistance levels
I trade the hourly charts, mostly EUR/USD. At the end of each day i draw trendlines and pivot points, trying to identify the Support/Resistance levels for the following day.
When following price action, what chart and indicator should I use to find out whether a level that has been tested is likely to hold and the price likely to revert from that level? Is it correct if I follow the action on a 1 minute chart and look for an invalidation of the last trend-move towards that level? (price action touching the level and after that, going back through all the 3 major Fib of the last trend move towards that level - for example). My goal is to catch as much as possible from the reversal move.
Also, I have the same question when it comes to price action breaking a level. Is it correct to assume that a level has been broken when a 1hour candle closes above that level if I follow an uptrend, respectively below that level in a downtrend?
Thank you
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06-03-2007, 12:04 AM
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Member
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Join Date: May 2007
Posts: 444
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Using BBs
Hello K&B,
I just want to ask to you, in your opinion, in which pairs the Bollinger banda "bands" work much better? I know that in GBPUSD is working well. pairs with CHF also?
Thank you !
Adrian Rodriguez
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06-03-2007, 11:53 AM
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Registered User
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Join Date: Jun 2007
Posts: 1
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Trading Journal
Hi Kathy and Boris,
I have been trading currencies on and off but would like to get more serious. I recently read Kathy's Book and was wondering if there is more information about the trading journal online. Is there a place that I can go to quickly get the Hi, Low, 10 Day hi, etc or do I have to get that information from charts?
Also my goal is to avg about 10 pips a day to start. I would be trading from 5pm EST to about 11pm EST. Do you have any suggestions on a good strategy? Is there a currecny pair that would be better suited to accomplish this goal?
Thank you
Last edited by MikeR; 06-07-2007 at 06:42 PM..
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06-03-2007, 12:53 PM
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Member
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Join Date: Aug 2006
Posts: 8
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As a relatively new trader, I understand that one of the most important, if not THE most important tenet for sucessful trading is to BUY AT SUPPORT AND SELL AT RESISTANCE.
My problem to date centers around properly identifying SIGNIFICANT support and resistance levels. I trade on intraday charts, using the 4hr chart for trend direction, and the 1hr chart for entries. Some experts recommend, for instance, that during a trending period, you should focus on Fibonacci retracements/extensions for S/R; others say to use pivot points, and still others say to trendlines to identify S/R.
Which of the aforementioned should a trader use to identify support/resistance, or is there some other method?
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06-04-2007, 07:07 AM
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Registered User
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Join Date: Jun 2007
Posts: 4
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Tips Trading
Hi all
I am new member in this forum and would like to have fruitfull conversation regading of Forex market
I am just wondering if this forum is technically or fundamentally?
Please let me know in order i join to you soon if that is fudamentally?
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06-04-2007, 03:22 PM
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Member
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Join Date: Jun 2007
Posts: 6
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The Asian Connection
Could someone explain to me the interrelationships of the Chinese Stock Market, the Dow Jones, The Carry Trades and the Japanese economy? A simple direct/inverse relationship explanation would be fine with maybe a bit of 'why' thrown in. I just can't seem to understand how or why what goes up or down when it does in relation to these things, which means I can never understand Kathy's articles in regards to these matters.
Thanx in advance
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06-05-2007, 04:46 PM
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Registered User
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Join Date: Jun 2007
Posts: 1
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internak spot FX
Hi,
When a price maker is doing a mixture of trades for clients and their own account - how is the P/L calcualted during the day - is it at based on a first in first out basis (FIFO) if so what price - is it an average price ?
eg say he buys $1m then sells $3m he buys $2m to square positon then is the $2m an average of the buys against the sell ?
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06-05-2007, 04:58 PM
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Join Date: Jun 2007
Posts: 2
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CAD Strength
As a Brit, I am used to boom/bust cycles similar to those we experienced in the 70's and 80's.
While I understand the fundamentals behind the Loonie's strength, many of these could equally be applied to Australia. However, the Aussies strength seems to be controlled whereas I doubt the same can be said of CAD.
Is it likely that we could see a major reversal in CAD (a move from boom to bust) and, if so, what fundamentals should we look for in addition to technical indicators?
Regards
Cliff
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06-05-2007, 05:20 PM
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Registered User
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Join Date: Jun 2007
Posts: 2
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I was reading an article by Kathy , posted on 06/04/07, on the DailyFX website (which, by the way, is awesome!) was particularly interested in her forecast that , in this particular case, Tuesday's 06/05/07 ISM non-manufacturing data rather than, for e.g, global equity markets. I realize that this deduction comes from an experienced strategist who has been monitoring currencies for a significant period of time, and am curious to learn about how a novice can base trades on historical correlations. In your opinion, how reliable is evidence about past correlations in the face of constantly changing economic conditions?
Thanks!
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06-05-2007, 08:11 PM
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Registered User
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Join Date: May 2007
Posts: 2
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Reading articles related to China, Dow and carry trade.
a) When someone mentions that the carry trade levels are high what are they looking at? Is there a specific measure of the carry trade level?
b) How would I know when the carry trade is starting to unwind or more importantly how to identify the states of the carry trade?
Thanks
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