YES.
, i am having a bad week.
hi phillip and all
Look to the GU chat .. we are between the 3 majors MA .. I think we should wait to see the breakout ..
Best wishes
ammar
ammar
- #6,602
- Aug 30, 2007 5:10pm Aug 30, 2007 5:10pm
Thanks aboammar for your supportive words.
i took this trade because i thought that this could be the break out trade, since price had not been able to do it on previous attempts. Another thing i observe is that price is making higher lows on the chart, not on the macd. So the feeling i had was this this price is trending upwards.I know my entry was not the smartest one.But the intention was to be part of the break out if price reaches 200 sma. Forex is risky business. I am still in the trade, I only have one micro lot so well within my risk parameters of my tiny account( hehehe). I might get taken out by tonight or i might be part of a break out. that is a risk i am willing to take. (sure i can say that now, you should have seen me earlier today.
)
Anyways tommorow is friday, before a long weekend here, so you never know. Like they say. ANYTHING CAN HAPPEN!!!.
i took this trade because i thought that this could be the break out trade, since price had not been able to do it on previous attempts. Another thing i observe is that price is making higher lows on the chart, not on the macd. So the feeling i had was this this price is trending upwards.I know my entry was not the smartest one.But the intention was to be part of the break out if price reaches 200 sma. Forex is risky business. I am still in the trade, I only have one micro lot so well within my risk parameters of my tiny account( hehehe). I might get taken out by tonight or i might be part of a break out. that is a risk i am willing to take. (sure i can say that now, you should have seen me earlier today.
) Anyways tommorow is friday, before a long weekend here, so you never know. Like they say. ANYTHING CAN HAPPEN!!!.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
- #6,607
- Edited 2:51am Aug 31, 2007 2:27am | Edited 2:51am
- | Joined Feb 2007 | Status: Trader | 989 Posts
Hi everyone, i hate to bring up the topic of....fundamentals, but can anyone explain how this apparent USD$ subprime problem causes strengthening of the USD $ when unwinding of carry-trades happens(which i understand). Just wondering Thanks
Maybe this has been answered already...if so...sorry. If not....
When the unwinding of the carry happens, the base currency gets repurchased, which causes it to strengthen. So...when you liquidate from Kiwi or OZ, dollars get repurchased. In the case of the synthetic pairs, like G/J and E/J, you have to sell Sterling, buy dollars (causes decline in G/U), and sell dollars and buy yen(increases strength of yen, which causes a shorting opportunity in U/J). The same applies to E/J.
Basically, because the USD is the base currency in many of the transactions, it needs to be repurchased w/the unwinding of the carry...it is effectively the "home" currency. The repurchase is what causes the strength...heavy demand = higher pricing. A bit counterintuitive at first, until you think of repatriating of funds. (pretty odd too when the flight from risk is b/c of US issues,eh?).
Hope this helped and didn't confuse more.
Have a happy weekend!
Pips
Well I am confused too, Eur/Usd is going up and at the same time Usd/Jpy is going up too
See the interaction of currencies? Nothing is as simple as it seems at first, eh?
.......That's why it is so much better to focus on technicals...let's you know when to enter, when to exit...and you don't need to worry about all the different reports that can potentially impact your trading decisions. Fundamentals are interesting though...and can give us the outline (parameters) to our trading decisions....but may often cloud our thoughts by making us either bullish or bearish (this can lead us to mis-see the info on the charts).
I think there are some ppl out there trying to be funny.. Keep looking to clear those stoplosses.. haha... i'm talking about cable.. hope my stoploss is not within their reach.. Cable is not easy to trade, those ppl are hunting ur stoplosses at a range of 20 to 30 pips.. Those who aren't firm or sure, will be scare and might caused them to closed the trade earlier or trigger their stoplosses.. I'm in the trade but still scare about it.. Just imagine how those people play with ur emotions...
Focus on your position and have a reasonable stop loss in place at the time you do the trade. Then be like an astronaut – sit back and enjoy the ride. No sense worrying because you have no real control. The market will do what it wants to do. - It helps me a lot
.I have noticed that phrases like these do help me a lot. For example yesterday, when I had a short position on U/J I kept telling myself, never add to a losing position, I am really glad I didn't as my SL was hit.
- #6,611
- Aug 31, 2007 7:25am Aug 31, 2007 7:25am
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #6,613
- Aug 31, 2007 7:39am Aug 31, 2007 7:39am
How to go from --- to ---- in 24 hours!
Well cable did turn around after costing me quite a few pips earlier this week. It did hit 200 sma eventually which was my target so made some pips on that today.
However i did learn valuable lessons about money management and multiple lots and self control--- and the list goes on. No more trades for me until next week. Long weekend here in U.S. Be safe and Enjoy.
P.S i also took usd/jpy and eur/jpy long which closed pretty nicely this morning. Lots of news so wanted to stay out of the market. Happy trading to you all.
Nadia.
--- to ---- in 24 hours!Well cable did turn around after costing me quite a few pips earlier this week. It did hit 200 sma eventually which was my target so made some pips on that today.
However i did learn valuable lessons about money management and multiple lots and self control--- and the list goes on. No more trades for me until next week. Long weekend here in U.S. Be safe and Enjoy.
P.S i also took usd/jpy and eur/jpy long which closed pretty nicely this morning. Lots of news so wanted to stay out of the market. Happy trading to you all.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
- #6,614
- Aug 31, 2007 7:49am Aug 31, 2007 7:49am
It seems as we have got a breakout on EUR up. Buuuut, I'm coserned of two things: it's still 5 minutes to the news release, and the volume is low, but it should be high in a real breakout, at least more than a prevous candle. Am I too suspisious???
. Good luck.Nadia.
P.S. its nice to have you back. and belated Happy Birthday,
TRADE WHAT YOU SEE... FOCUS ON SUCCESS
- #6,616
- Edited 8:27am Aug 31, 2007 8:26am | Edited 8:27am
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
I think it's a perfect example of taking the stops, both long and short positions (see the charts). Price went 60 pips up with the tail and the candle closed below 200MA. Luckily I listened to Palmer and didn't trade today. This week was bad for me, but that's only my fault, I didn't feel the rhythm and started to play with a new pair.
Happy weekend everybody
!!! My congratulations to those who are in America, by the way what is the holiday??
Happy weekend everybody
!!! My congratulations to those who are in America, by the way what is the holiday?? 
- #6,619
- Aug 31, 2007 11:21am Aug 31, 2007 11:21am
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Hi Ira,
It's Labour Day Holiday.We have it here in Canada too
Mike
It's Labour Day Holiday.We have it here in Canada too
Mike
Failure, is a wonderful teacher!
- #6,620
- Edited 3:55pm Aug 31, 2007 11:43am | Edited 3:55pm
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Failure, is a wonderful teacher!