Forex Trading Life

Hello all,

First post here in Forex Factory after having been a reader for a long while. Since September 2008 (about 6 weeks now) I have been keeping a blog consistently.

Some of my favorite posts have been:

1. Traders Love Markets that Move
2. Come on a 1,820% return in how many hours?
3. Who owns the Federal Reserve?
4. Free Trading - Rules To Live By For Aggressive Returns

I think today I posted my favorite post to date. It's called "Oh how much could in happen in one day..."

I am excited about that so I decided to begin sharing my thoughts here as well and hopefully have some quality discussions that can help us all understand the current global financial crisis better so that we can survive and prosper.

Please check it out and let me know if you think!
http://forextradinglife.com/fed-shocked-disbelief

I think I am starting to get hang of blogging now too! It is just like trading or anything else, you have to spend time doing something you love and it becomes easy.

God bless,
traderjcl

[17:19:46] jordan: thanks for sending that article my way
[17:20:44] jordan: i think the most important piece to take from it was the headline "G7 warns market on YEN volatility"
[17:23:06] Nikos: yes, i didn't find the original one from Thomson so i came across this one
[17:24:43] jordan: it seems as if they are not taking action just "talking" it up. I think usd/jpy would need to trade in the 70. area before they did
[17:26:14] Nikos: In the other article it said that they more than hinted that they will take action, and that was amazing as they had not up to now done that
[17:27:36] jordan: the good news is the increased volatility is here too say. what is also interesting is that they are now talking about unified (all central banks) taking action while months ago it was just the bank of Japan talking about it
[17:28:42] Nikos: Yes, exactly...we might see some interesting action in the coming days
[17:33:58] Nikos: Is the Fed about to cut rates?
[17:36:06] jordan: in the US yes, I am not sure if it will be another unified cut like we saw recently (which was amazing and a first)
[17:37:46] Nikos: The thing here in the EU is that EURIBOR (lending rates between banks) are still very high!
[17:38:38] jordan: YES! here too. the first wave of bailout money in the US starts this week (150 billion) we need to see if that helps lower the rate or not 'Banks Are Likely to Hold Tight to Bailout Money'
[17:40:48] Nikos: I would be happier if this money went to the small-medium business, say with a 3 year grace and fixed low rates for say 10 years
[17:42:15] Nikos: I get a feeling that the distribution of those funds might not be optimum!
[17:43:01] jordan: me too. I wish we were also following China. Because of the slow down they are spending $445 Billion on their infrastructure (train lines). They did this in the 90's (with their roads) and it helped them. It creates jobs, stimulates the economy, and is fruitful (building infrastructure). I wish in the US and Euro we did the same. '
[17:43:04] Nikos: The economy has to be heated even at the expense of inflation
[17:43:49] jordan: instead of as you are saying the unfair distribution of those funds (to the rich). We were told we needed the bailout so banks could lend money again and now they are just holding that money
[17:47:57] Nikos: it seems those responsible were too busy building "Hot Air"
[17:49:00] jordan: wealth is not lost in this crisis or any other, it is redistributed. And it is being redistributed to the elite (top 5%)
[17:50:30] Nikos: ...how true
[17:53:15] Nikos: There was a plea today by French Priminister to Corporations not to be too quick to fire people...
[17:53:54] jordan: people who got us into this mess?
[17:55:04] jordan: I suppose another difference is we (US & Europe) have to borrow the for the 'bailout' and China can use their reserves to build their infrastructure and create jobs
[17:55:08] Nikos: Greed got us to this mess...which was exploited by those who really make money regardless
[18:05:03] Nikos: Very nice talking to you this morning Jordan, have a nice day and a nice day to all in the group. And do not forget...as is my favorite saying: "This too, shall pass!"
[18:05:25] jordan: hehe thank Nikos http://www.jcls-forex.com/chatroom/s...lies/smile.png you are GREAT!

[16:50:27] Nikos: by the way I am still on on that long play...for the moment anywayhttp://www.jcls-forex.com/chatroom/s...lies/smile.png
[16:51:15] Nikos: not now as I am caught up with some private matters that occupy me most of the day
[16:51:26] andy: what's put you on the trade ?
[16:51:52] Nikos: u mean that long one?
[16:52:12] andy: yep
[16:53:22] Nikos: I started by riding the momentum nov 4th and playing the ups and downs
[16:54:16] Nikos: but as i said I am very busy lately and did not optimize my chances...still made more than 1000 pips to now
[16:55:22] andy: ok - good to hear you making pips
[16:55:32] Nikos: my last entry is on 154.75 with a stop at entry and is close to close which will close the trade for now if it does
[16:57:06] andy: What are you using as an entry signal?
[16:57:23] Nikos: London...nice used to work there way back
[16:57:51] andy: where about you live while in London?
[16:57:59] andy: i'm near greenwich (the g out of GMT)
[16:58:17] Nikos: High Holborn
[17:00:10] Nikos: Sorry Andy must run again...as far as signals well its a long story...Jordan has covered examples in the forum i think will talk to him and if he thinks its educational will copy the chart
[17:00:34] andy: ok catch you later
[17:01:07] Nikos: ups...just hit the stop at entry...will call it quits at this point
[17:01:17] Nikos: cu bb

This week's top posts:

* How to Manage a Trade

*Writing Down a Plan Yep a Trading Plan

* Traders Talk: Long Term Market Direction


Would love for you to contribute comment on articles with your views opinions.

God bless
traderjcl