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  • #1,301
  • Sep 13, 2018 6:54am Sep 13, 2018 6:54am
Quoting JTexclusive
Based on Erdogans comments earlier today about possibly lowering interest rates and high rates being the cause of the problems in turkey and his son in law heading the central bank. and I think the economy is in such shambles that no rate hike can save the lira. And I set a stop loss!
Fair enough but the hike was heavily anticipated that's why it's was selling off from the top. What you should have done was wait for the number and then trade it. Sorry about this and I hope you resolve the matter.
  • #1,302
  • Sep 13, 2018 7:06am Sep 13, 2018 7:06am
Quoting JTexclusive
Based on Erdogans comments earlier today about possibly lowering interest rates and high rates being the cause of the problems in turkey and his son in law heading the central bank. and I think the economy is in such shambles that no rate hike can save the lira. And I set a stop loss!
I just got told that the son in law is charge of the treasury and economy ministry not the central bank. Sorry but we can all learn from this.
  • #1,303
  • Sep 13, 2018 7:24am Sep 13, 2018 7:24am
Yeah hopefully oanda will respect the stop I've heard they will before. That's why I'm posting figured I may save another trader from some headache looks like it's recovered pretty modestly I got in at 6.44 was stoped out at 5.97 and an hour an a half later it's trading at 6.25..... goes back to the principle that sometimes the market stay irrational longer than you can stay liquid
  • #1,304
  • Sep 13, 2018 7:25am Sep 13, 2018 7:25am
Quoting JTexclusive
Based on Erdogans comments earlier today about possibly lowering interest rates and high rates being the cause of the problems in turkey and his son in law heading the central bank. and I think the economy is in such shambles that no rate hike can save the lira. And I set a stop loss!
this is why you do not play major news events, the risk far outweigh the rewards because.. you simply don't know what will happen. Yes you get a stop loss, but the slippage on very exotic pairs is massive. Anyways... It is just a $2k loss, nothing to run crazy about. Take it as a learning experiencing.

Now with the rates raised... Question is.. what now? The Turkish President is not happy about interest rate hikes, more likely than not... I do think he will make it worst by calling for looser monetary policy and eventually strip away the bank's independence... but in the meanwhile... Probably shouldn't be touching this pair... It is extremely volatile and unpredictable.
Trade what you see, not what you think!
  • #1,305
  • Sep 13, 2018 7:33am Sep 13, 2018 7:33am
The Aud reported a very solid job report last night. It appears that the AUD may start getting bids as economic data has improved as of late on top of loosening trade tensions between USA & China which all should work in its favor. The RBA has also shifted its tone, to more a neutral stance compared to their dovishness in the past months.
Trade what you see, not what you think!
  • #1,306
  • Sep 13, 2018 7:38am Sep 13, 2018 7:38am
Quoting RoninFX
I closed my short position on USD/CAD after news from Reuters +64 pips.
Trade what you see, not what you think!
  • #1,307
  • Sep 13, 2018 7:58am Sep 13, 2018 7:58am
Yeah I know it's exotic but it's not argentina if a brokers going to offer the pair I don't think there should be minuites missing off of a 5second chart just a rate decision not brexit.... I am curious if my TP would've been respected or if I would've made more profit from the "slip"
  • #1,308
  • Sep 13, 2018 8:03am Sep 13, 2018 8:03am
Quoting Mzwandile93
NZDUSD will be bullish for the next 11 trading days(USD will be weak against NZD) {image}
I hope y'all got on the ride up after 2nd chance to buy.
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Lord Forex
  • #1,309
  • Sep 13, 2018 8:33am Sep 13, 2018 8:33am
Quoting Mzwandile93
{quote} I hope y'all got on the ride up after 2nd chance to buy. {image}
Trade what you see, not what you think!
  • #1,310
  • Sep 13, 2018 8:34am Sep 13, 2018 8:34am
Gone long post ecb meeting although it was the weak cpi that triggered the market and not really draghi. Hope to hit profit soon.
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  • #1,311
  • Sep 13, 2018 8:54am Sep 13, 2018 8:54am
Quoting Samson85
Gone long post ecb meeting although it was the weak cpi that triggered the market and not really draghi. Hope to hit profit soon. {image}

TP pretty much hit.
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  • #1,312
  • Sep 13, 2018 9:23am Sep 13, 2018 9:23am
Quoting Samson85
Shorted oil based on the following: market is tightening up The Brent price range of USD 70-80bbl seen since April could be tested OPEC crude output stands at a 9-month high of 32.63mln bpd in Augus {image}
Boom 69.00 hit on oil.
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  • #1,313
  • Sep 13, 2018 9:42am Sep 13, 2018 9:42am
Just took a short on Audjpy as trump is tweeting negative about China again. Looking for profit near the pivot point.
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  • #1,314
  • Sep 13, 2018 9:59am Sep 13, 2018 9:59am
Quoting Samson85
Just took a short on Audjpy as trump is tweeting negative about China again. Looking for profit near the pivot point. {image}
ah... Trump... Trump...Trump

I think can be a possibility for re-load on the long side... Unless, he start slapping tariffs again... then... It is back to the sell side for the AUD.
Trade what you see, not what you think!
  • #1,315
  • Sep 13, 2018 10:00am Sep 13, 2018 10:00am
Quoting Mzwandile93
{quote} I hope y'all got on the ride up after 2nd chance to buy. {image}
This pair is currently falling if you check the charts. Trumps tweet looks like it effected it.
  • #1,316
  • Sep 13, 2018 10:04am Sep 13, 2018 10:04am
Quoting OMGtrader
{quote} this is why you do not play major news events, the risk far outweigh the rewards because.. you simply don't know what will happen. Yes you get a stop loss, but the slippage on very exotic pairs is massive. Anyways... It is just a $2k loss, nothing to run crazy about. Take it as a learning experiencing. Now with the rates raised... Question is.. what now? The Turkish President is not happy about interest rate hikes, more likely than not... I do think he will make it worst by calling for looser monetary policy and eventually strip away the...
Hmm I agree with you to an extent. I trade risk events constantly and profit from them, but I will be frank in saying when trading them for SEK, NOK, TRY, MXN, RUB, ZAR they can fly up and down like crazy. For example I would not trade a TRY risk event because you cannot use hard stop losses and the wrong drive can blow your account.

In regards to USD/TRY I think its going back up.
  • #1,317
  • Sep 13, 2018 10:05am Sep 13, 2018 10:05am
Quoting JTexclusive
Yeah hopefully oanda will respect the stop I've heard they will before. That's why I'm posting figured I may save another trader from some headache looks like it's recovered pretty modestly I got in at 6.44 was stoped out at 5.97 and an hour an a half later it's trading at 6.25..... goes back to the principle that sometimes the market stay irrational longer than you can stay liquid
Have they refunded you?

Also I suggest you use Ransquawk or at least have forexlive.com paired on your phone for free. A few banks were expecting a hike today, its just that TRY did not hike the last time and it spiked.
  • #1,318
  • Sep 13, 2018 10:29am Sep 13, 2018 10:29am
Quoting Samson85
Just took a short on Audjpy as trump is tweeting negative about China again. Looking for profit near the pivot point. {image}
Closed this for 6 pips profit. Not enough drive from that trump tweet
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  • #1,319
  • Sep 13, 2018 12:22pm Sep 13, 2018 12:22pm
I am using fundamentals to signal which currency and direction I would trade. Then I use technical analysis to determine when I'll close a position and get out of a trade. I also use technical analysis to determine when it's time to manage my losing positions to get them to at least breakeven if not profitable.
  • #1,320
  • Sep 13, 2018 2:52pm Sep 13, 2018 2:52pm
Quoting Samson85
{quote} This pair is currently falling if you check the charts. Trumps tweet looks like it effected it.
Not worried about it going down a lil, that will give me another chance to buy. I'm buying that pair until the 27th this month. I believe it will move up again once it pulls back down. My fundamental analysis indicates weak dollar...
Lord Forex
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