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What will NY session see when it wakes up?

  • #21
  • Nov 24, 2006 8:19am Nov 24, 2006 8:19am
Quoting Moe
We are truly not the number one currency no more. the pound got us by a mile. pound is the worlds strongest currency.
But you know what is the base of british economy ? Forex and sofisticated british kitchen ! they are very good in moving money

No offence to all the british retail traders here
  • #22
  • Nov 24, 2006 8:43am Nov 24, 2006 8:43am
Quoting Ghostpipper
here we go with more $ weakness !!!!!!
ok now here comes da steam Tooot Tooot
Ghost Swoopen in for my pips while no one is lookin !!
  • #23
  • Nov 24, 2006 8:47am Nov 24, 2006 8:47am
Quoting Moe
We are truly not the number one currency no more. the pound got us by a mile. pound is the worlds strongest currency.
It's all relative.... How much is a gallon of gas or a six pack of beer in the UK?
It makes no difference to me if the USD is going up or down, as long as I'm on the right side of the trade when it moves.


David
  • #24
  • Nov 24, 2006 9:00am Nov 24, 2006 9:00am
Trucco; No offense taken. - The only think we English are really good at is financial services. The city of London is getting bigger and more pwerful every year.


FXfox: Don;t ask how much a gallon of fuel is, it hurts too much!!
Over £ 4.00 a gallon and over 70% of that is tax.

UK is getting a very high tax country. (Thank god I earn my money offshore!!!)
  • #25
  • Nov 24, 2006 9:28am Nov 24, 2006 9:28am
Quoting Hawkeye1
Trucco; No offense taken. - The only think we English are really good at is financial services. The city of London is getting bigger and more pwerful every year.


FXfox: Don;t ask how much a gallon of fuel is, it hurts too much!!
Over £ 4.00 a gallon and over 70% of that is tax.

UK is getting a very high tax country. (Thank god I earn my money offshore!!!)
bahamas herei come.
If I Go Broke Trying Then I Will die happy.
  • #26
  • Nov 24, 2006 10:43am Nov 24, 2006 10:43am
Quoting Hawkeye1
Trucco; No offense taken. - The only think we English are really good at is financial services. The city of London is getting bigger and more pwerful every year.


FXfox: Don;t ask how much a gallon of fuel is, it hurts too much!!
Over £ 4.00 a gallon and over 70% of that is tax.

UK is getting a very high tax country. (Thank god I earn my money offshore!!!)
What I like about british finance is that they all push in one way usually, and if yu dont go against 'them' you are on the good rail, and this is usually what happens.
but what happend in this week was a bit too much..and I think that in somehow it was done on porpouse.... this wasnt very nice I guess
  • #27
  • Nov 24, 2006 10:45am Nov 24, 2006 10:45am
You guys think this rally in the pairs was a bit overdone? What is you all opinion since most of the big traders are away and the market performed unexpectedly especially over a holiday? What do you think?
  • #28
  • Nov 24, 2006 10:53am Nov 24, 2006 10:53am
when the fed gives the statement about rates ?.

ooo i forget,...why the euro even need to increase rates
its just money
  • #29
  • Nov 24, 2006 11:03am Nov 24, 2006 11:03am
Quoting kenmania
Speaking as an American, I don't think folk here really care about the strength of the dollar- only that their dollars are invested where the strength is...
Agreed. Several years ago i pulled all my 401k funds from American Based Companies to European/Asian Based Comps. Not trying to be unAmerican at all...RATHER...I'm trying to do what is best for my family. The value of my 401k was at a modest 13-15% increase for 7ish years w/the US based firms in the portfolio... the last 6 it has been in the low to mid 20% range.

I look at FX the same way. I'm not interested in which way i trade, only that i'm on the positive side of the trade. This week? All my trades were long GBP or EUR. It was a good week, but rather bizzar for a Holiday week imo.

: ) Thom
  • #30
  • Nov 24, 2006 11:21am Nov 24, 2006 11:21am
What are the chances that next week, the market takes the EUR/USD back down below 1.3?

Is the EUR/USD up there to stay?
  • #31
  • Nov 24, 2006 11:27am Nov 24, 2006 11:27am
can 1.34 be tested,...can it be broken?
its just money
  • #32
  • Nov 24, 2006 11:42am Nov 24, 2006 11:42am
I'm just worried that when everybody gets back into play on Monday, they take it back down to where it was... 1.29
  • #33
  • Nov 24, 2006 11:48am Nov 24, 2006 11:48am
Quoting tremon333
You guys think this rally in the pairs was a bit overdone? What is you all opinion since most of the big traders are away and the market performed unexpectedly especially over a holiday? What do you think?
Hi,
why all big players were on hoidays ?
london, switzerland and germany were not.

I would assume that 70% of retail traders are short, but the price went up anyway. So , like always, is not us having any kind of influence on prices, but big players, which did this with the help of many stops hit giving more boost to the move
  • #34
  • Nov 24, 2006 12:07pm Nov 24, 2006 12:07pm
Quoting kenmania
Speaking as an American, I don't think folk here really care about the strength of the dollar- only that their dollars are invested where the strength is. And I'm especially convinced that that's true for the market makers over here (that is the banks).

I was up when the big move happened last night...not waving my stars and stripes and shorting the pound and euro...I was long @ 9165 on the pound and @ 2956 on the euro. And very happy about an hour after the U.K. session opened.

I have no respect for a "dollar". It's not because I'm unAmerican- but because it's worthless fiat like most of the other currencies- and the cospiracy theorist in me believes that the international banks have a "take-down" in mind for this wretched currency- and today's session has convinced me just that much more.

BTW, when the dollar goes down, generally speaking gold and silver bullion go up. The bullion markets reacted, albeit a few hours after the big move. Something to keep in mind for the future...
Me too.
  • #35
  • Nov 24, 2006 1:54pm Nov 24, 2006 1:54pm
Quoting trucco
Hi,
why all big players were on hoidays ?
london, switzerland and germany were not.

I would assume that 70% of retail traders are short, but the price went up anyway. So , like always, is not us having any kind of influence on prices, but big players, which did this with the help of many stops hit giving more boost to the move
When you see 70% of the people shorting ... you do the opposite ... works most of the time. I learned to go with the trend and not try to pick tops and bottoms. If this trend is going to reverse back down to 1.29, then I will wait and see the turn.
  • #36
  • Nov 24, 2006 2:22pm Nov 24, 2006 2:22pm
Quoting angiegiles00
Does anyone know what caused such a move as witnessed earlier?

Angie
Momentum. If you are looking for someone to point the finger at there it is.
A. Finesse Williams Making Millions One Pip At A Time!
  • #37
  • Nov 24, 2006 2:35pm Nov 24, 2006 2:35pm
Quoting nitman
When you see 70% of the people shorting ... you do the opposite ... works most of the time. I learned to go with the trend and not try to pick tops and bottoms. If this trend is going to reverse back down to 1.29, then I will wait and see the turn.
You are ablosutly right. But this week was an exeption, and I dont want to say that we were all wrong, because 70% of times I follow the trend and catch also tops and bottoms. But you are right, trying to catch the little down waves into a big trend is wrong and many people paid a lot with this.
I freezed (hedged) my shorts since 2 days and got back today when i closed the long pound 60 from there and 30 from euro.
Netto, I managed to loose not much as I went long for the first part of the week.
But I learned the lesson because it could have been much worst, and won't try again to catch 'all' the waves into the big one.
I will consider the trend changed only when it confirms me. Better to loose the first down wave, then too loose money going against the trend too early
  • #38
  • Nov 24, 2006 2:45pm Nov 24, 2006 2:45pm
With all that was going on in the news I was steadily ignorig that and sticking to the pattern of the candlesticks. Got in long at 8967 watching pattern and indicators.
  • #39
  • Nov 24, 2006 2:48pm Nov 24, 2006 2:48pm
Quoting shewill
Me too.
114 pips. Woo Hoo!!!
A. Finesse Williams Making Millions One Pip At A Time!
  • #40
  • Last Post: Nov 24, 2006 4:09pm Nov 24, 2006 4:09pm
Quoting Moe
We are truly not the number one currency no more. the pound got us by a mile. pound is the worlds strongest currency.
IMHO, GBP is one of "weaker" currencies. But the terms "strong" or "weak" are really depending on the personal point of view.. In my opinion, the world“s "strongest" currency currently is.. surprisingly the weak as seen by many people. Japanese Yen!

Why? Where would JPY be if BoJ wouldn“t take actions and interventions to substantially (and after all, artificially) devaluate the Yen? Japan is a country with its economy based totally on export.. and they make huge profits on carry trades thx to near-zero interest rate on JPY. But 7 of 10 world“s largest banks are Japanese. Japan is the world“s largest borrower, and the U.S. are its largest debitors. Japs are owning over a half of biz buildings in L.A.

Btw the last week was no real surprise for me, and I expected the fall of the dollar to happen since the reaction of the market on housing starts&building permits last friday. At this moment, I“m really convinced that we are at the end of months-lasting ranging market. A real trend is on, and it“s name is: dollar down.

I“m demoing for the six month on FX, and I feel it is on time to spend some real bucks to the FX School .-) Next week I“ll go live.

Here are my stats & some goodshots for the past week:

IBFX:
http://www.easic.cz/files/ibfx.png
http://www.easic.cz/files/DetailedStatement.htm

Oanda:
http://www.easic.cz/files/oanda.png


Happy trading,
Tom T.

PS. Sorry for my poor english, (Prague/CZ/Europe).
:-anything
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