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Daily GBP/JPY analysis

  • #8,781
  • Jul 22, 2007 6:44pm Jul 22, 2007 6:44pm
Entered long at 249.02 on the dip, and closed it at 249.78 in this early Tokyo morning session. Earning this 76 pips profit by spotting D bottoms and expecting short covering to occur was not a tough trade, was it? It looks like most of people in this thread going short at this moment. I'll be on the sidelines at least until I see a definitive move.
  • #8,782
  • Jul 22, 2007 6:44pm Jul 22, 2007 6:44pm
U.K. RATE OUTLOOK - ERNST & YOUNG ITEM CLUB: EXPECTS A 25BPS RATE HIKE AS SOON AS AUGUST
- Study suggests that one further rate rise by the Bank of England to 6% should be sufficient to slow U.K. economic growth to below trend in 2008.

TTN


Hope this news wont give a boost to GBP today
  • #8,783
  • Jul 22, 2007 6:45pm Jul 22, 2007 6:45pm
Quoting trader8686
Thanks, but I am not for scalpin purpose, just in order to enter the long/short trades. I figured out this indicator setting is so important, can affect your trading result big. Like now, i am looking at 5,3,3 vs 15,5,2 gives me totally
different time to enter my short. Don't know which one to follow, I am still hanging here, not execute any.


885 is more a trending could use for entry on a 5 min while waitng for the 30 1h and 4 hr turns BUT stochs are useless really in a trending market and indicators in general are 50% useful at best anytime overall
"Millionaires don't use astrology, billionaires do"
  • #8,784
  • Jul 22, 2007 6:54pm Jul 22, 2007 6:54pm
Quoting DR.ich
marketiva doesnt
when i tried to find out information about the company like where they are located they refused to give it up I believe that Forex Company is a scam they dont seem to be regulated with anyone either.

Also, CMS currently has SWAP
  • #8,785
  • Jul 22, 2007 6:54pm Jul 22, 2007 6:54pm
Quoting ukutrader
Entered long at 249.02 on the dip, and closed it at 249.78 in this early Tokyo morning session. Earning this 76 pips profit by spotting D bottoms and expecting short covering to occur was not a tough trade, was it? It looks like most of people in this thread going short at this moment. I'll be on the sidelines at least until I see a definitive move.
same performance here..entered after the d bottoms last friday and shorted the gap +40 so far...ima put a trailing stop and get some sleep for the London session...

oh btw good call!...i was half afraid that i made a wrong decision going after long last friday dip..your post reaffirmed my analysis and made easy pips this mornin....good way to start the week
"it doesn't come any sharper than this!"
  • #8,786
  • Jul 22, 2007 6:55pm Jul 22, 2007 6:55pm
Quoting auslanco
U.K. RATE OUTLOOK - ERNST & YOUNG ITEM CLUB: EXPECTS A 25BPS RATE HIKE AS SOON AS AUGUST
- Study suggests that one further rate rise by the Bank of England to 6% should be sufficient to slow U.K. economic growth to below trend in 2008.

TTN


Hope this news wont give a boost to GBP today
Hmmm... I don't know I mean the floods are news in the opposite direction
Craazy
  • #8,787
  • Jul 22, 2007 7:00pm Jul 22, 2007 7:00pm
Quoting PipJunkie
when i tried to find out information about the company like where they are located they refused to give it up I believe that Forex Company is a scam they dont seem to be regulated with anyone either.

Also, CMS currently has SWAP
hmmm its on their page click home-about-(regulations)-(locations)

but then again my only experience with them is on a demo account so
you should do your research
"it doesn't come any sharper than this!"
  • #8,788
  • Jul 22, 2007 7:00pm Jul 22, 2007 7:00pm
Quoting auslanco
The NFA recently proposed raising the minimum adjusted net capital requirements for Forex Dealer Members (FDM) to $5 million.

Healthy Forex Firmshttp://www.fxstreet.com/forum/images...s/icon_lol.gif

FXCM ($51,000,000)
GFT ($48,000,000)
Oanda ($44,000,000)
FX Solutions ($20,000,000)
Gain Capital ($20,000,000)
CMS ($10,000,000)


Dead Firms Walkinghttp://www.fxstreet.com/forum/images...s/icon_cry.gif

One World Capital ($1,105,000)
Velocity4X ($1,587,000)
Direct Forex LLC ($1,523,000)
FiniFX ($1,464,000)
Forex Club ($3,304,000)
GFS Futures & Forex ($3,074,000)
Nations Investments ($1,699,000)
Royal Forex Trading ($1,102,000)
SNC Investments ($1,565,000)
FXDD ($781,000)
I Trade FX (-$3,039,000!!!!! Close to Bankruptcy!!!!)
MB Futures ($3,080,000)
Money Garden ($3,399,844)
United Global Markets (Bankrupt)

Excellent point. Anyone with an account that has less than 5Mill reserves should seriously consider moving to another broker, you might just wake up one morning and be unable to open your account, (ie. Refco). I moved all mine last month and I look at the goverment posts every month as part of my review. Until there is a segregated account or Investor protection fund system in place like some brokers have in Canada (CIPF) or in Europe (Seg Accounts), you have to pick the brokers most unlikely to close doors unannounced.

Here's the link: http://www.cftc.gov/cftc/cftchome.htm
click Market Oversight
then Financial data for FCM's
Look at the pdf file for the most recent data and what you are looking for is Excess Net Capital.
For those with FXCM, they have 2 listings and the FX division is under Forex Capital Markets LLC.

Cheers
NP
  • #8,789
  • Jul 22, 2007 7:05pm Jul 22, 2007 7:05pm
Quoting OrionsWay
885 is more a trending could use for entry on a 5 min while waitng for the 30 1h and 4 hr turns BUT stochs are useless really in a trending market and indicators in general are 50% useful at best anytime overall
Really, did you say he stochs are not so much big deal?
(just attached your setting and try)
  • #8,790
  • Jul 22, 2007 7:12pm Jul 22, 2007 7:12pm
Just saying any indicator are at best 50% winners and designed for ranging markets
"Millionaires don't use astrology, billionaires do"
  • #8,791
  • Jul 22, 2007 7:13pm Jul 22, 2007 7:13pm
OrionsWay,

Let me keep on this topic with you, since I have your stochs setting on my chart now, looking at the 5m chart (that's you use for entry):

I guess it is better time to buy than sell. Right?
  • #8,792
  • Jul 22, 2007 7:14pm Jul 22, 2007 7:14pm
Quoting trader8686
Really, did you say he stochs are not so much big deal?
(just attached your setting and try)

I have tried MACD with lots of success for this pair. The settings:
12E 26E 9E trend confimation 4hr charts , entry 30min charts
  • #8,793
  • Jul 22, 2007 7:16pm Jul 22, 2007 7:16pm
steady break below 249.20 during tokyo will give a huge boost to reach 245-246
  • #8,794
  • Jul 22, 2007 7:18pm Jul 22, 2007 7:18pm
Trader u must set up same each chart and flip though them continuously, for me i trade not with indicators but volume and spreads in relation to the background. stochs is OS OB condiitions possible divergances
"Millionaires don't use astrology, billionaires do"
  • #8,795
  • Jul 22, 2007 7:24pm Jul 22, 2007 7:24pm
Quoting auslanco
I have tried MACD with lots of success for this pair. The settings:
12E 26E 9E trend confimation 4hr charts , entry 30min charts
I add it, and saw that there is red line cross bars:
So, when the red line goes above those bars is sell, and needs to be confirmed on 4h and 30m when entry. Am I right?
  • #8,796
  • Jul 22, 2007 7:36pm Jul 22, 2007 7:36pm
Quoting auslanco
steady break below 249.20 during tokyo will give a huge boost to reach 245-246
Sure am hoping!!!
Craazy
  • #8,797
  • Jul 22, 2007 7:38pm Jul 22, 2007 7:38pm
Can anyone tell me what the MACD is for? thanks.
  • #8,798
  • Jul 22, 2007 7:55pm Jul 22, 2007 7:55pm
Looks like its starting to drop
Craazy
  • #8,799
  • Jul 22, 2007 8:03pm Jul 22, 2007 8:03pm
I'm in this thing short since 249.74
If you can't tell what the herd is doing...you probably are the herd.
  • #8,800
  • Jul 22, 2007 8:04pm Jul 22, 2007 8:04pm
Quoting trader8686
Can anyone tell me what the MACD is for? thanks.
www.babypips.com I would reccommend you to graduate from the pip school. It's the best and free forex learning available.
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