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Help needed in OANDA + users from Malaysia 105 replies

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  • #6,681
  • Feb 7, 2008 1:40am Feb 7, 2008 1:40am
Quoting hilmiy2k
what a volotile market...woohh !! up or down?still questionable... but my indicator show gu still in down trend price channel
Like I said before.... CALM before the STORM... and now the STORM is brewing.... Any position... SL got to be massive. Better stay out if clueless. BIG BOYS are active today. Nothing clear yet.... for me just PING PONG... UP and DOWN... good for SCALPERS.
  • #6,682
  • Feb 7, 2008 1:57am Feb 7, 2008 1:57am
GBP/JPY Intraday London session
1st sup.
[FONT='Verdana','sans-serif']208.46[/font]
2nd sup.
[FONT='Verdana','sans-serif']208.17[/font]
3rd sup.
[FONT='Verdana','sans-serif']207.75[/font]
1st res.
[FONT='Verdana','sans-serif']209.21[/font]
2nd res.
[FONT='Verdana','sans-serif']209.44[/font]
3rd res.
[FONT='Verdana','sans-serif']209.67[/font]

[FONT='Verdana','sans-serif'][/font]
[FONT='Verdana','sans-serif']Trend following strategy for short positions can be considered on fail of initial resistences between 209.21 and 209.44 with targets at 208.46 & 208.17 in extension.

Alternative scenario, above 209.44 looks for intraday correction to the upside with 209.67 as target.

Comment: On 30 minutes chart the price challenging the resistence but lack of upsde momentum.[/font]

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  • #6,683
  • Feb 7, 2008 2:06am Feb 7, 2008 2:06am
so ow what do you thin guy...??? bearish till 1.9500 has just began???
  • #6,684
  • Feb 7, 2008 2:08am Feb 7, 2008 2:08am
Quoting Malaysia
Like I said before.... CALM before the STORM... and now the STORM is brewing.... Any position... SL got to be massive. Better stay out if clueless. BIG BOYS are active today. Nothing clear yet.... for me just PING PONG... UP and DOWN... good for SCALPERS.
DescriptionMeasures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income.



news GBP at 5.30pm..
forecast +0.2%
good data for GBP

betul tak niea ku bace..hhuhuhu
any idea guys..
i.m still hold my 2 post buy...
  • #6,685
  • Feb 7, 2008 2:35am Feb 7, 2008 2:35am
Quoting fxfariz
DescriptionMeasures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income.



news GBP at 5.30pm..
forecast +0.2%
good data for GBP

betul tak niea ku bace..hhuhuhu
any idea guys..
i.m still hold my 2 post buy...
Remember... this are just ForeCast... actual one still not come out yet. As far as I am concern... lately the forecast from FF not really accurate. Always came out with SURPRISE data. If GREEN... UP UP at the WAYYYYYYYYYY......
  • #6,686
  • Feb 7, 2008 2:39am Feb 7, 2008 2:39am
Quoting Malaysia
Remember... this are just ForeCast... actual one still not come out yet. As far as I am concern... lately the forecast from FF not really accurate. Always came out with SURPRISE data. If GREEN... UP UP at the WAYYYYYYYYYY......
ic...
so bro, if data forecast is green....
then the GBP is storng?
and GJ will going up isn't...
  • #6,687
  • Feb 7, 2008 2:43am Feb 7, 2008 2:43am
Quoting fxfariz
ic...
so bro, if data forecast is green....
then the GBP is storng?
and GJ will going up isn't...
This is the tricky part... GJ is part of CARRY TRADES... if market psychology also in the mood of RISK APPETITE.... UP GJ go... but then if market in the mood of RISK AVERSION.... GJ can't go really high UP... thus.. halting CABLE to go up further... and VISE VERSA. Have to monitor EJ and UJ as well for CARRY TRADES psychology. Trading FOREX is not that easy huh.
  • #6,688
  • Feb 7, 2008 2:49am Feb 7, 2008 2:49am
Quoting Malaysia
This is the tricky part... GJ is part of CARRY TRADES... if market psychology also in the mood of RISK APPETITE.... UP GJ go... but then if market in the mood of RISK AVERSION.... GJ can't go really high UP... thus.. halting CABLE to go up further... and VISE VERSA. Have to monitor EJ and UJ as well for CARRY TRADES psychology. Trading FOREX is not that easy huh.

orite bro....
but as i see to UJ rite now...
UJ shooting up..same like EJ...
isn't there have a hint or clue??

can u teach me bro how to learn CARRY TRADER psychology...
  • #6,689
  • Feb 7, 2008 2:53am Feb 7, 2008 2:53am
Quoting fxfariz
orite bro....
but as i see to UJ rite now...
UJ shooting up..same like EJ...
isn't there have a hint or clue??

can u teach me bro how to learn CARRY TRADER psychology...
Still no CLEAR direction... look at H4 charts... all ranging. Market still INDECISIVE.
  • #6,690
  • Feb 7, 2008 2:56am Feb 7, 2008 2:56am
Quoting Malaysia
Still no CLEAR direction... look at H4 charts... all ranging. Market still INDECISIVE.
yup..
H4 still ranging....
up n down like hell...
still no clear direction........
  • #6,691
  • Feb 7, 2008 3:00am Feb 7, 2008 3:00am
Quoting fxfariz
orite bro....
but as i see to UJ rite now...
UJ shooting up..same like EJ...
isn't there have a hint or clue??

can u teach me bro how to learn CARRY TRADER psychology...
Basic thing in CARRY TRADES... go LONG for the SWAP. If you notice this early morning... about 30mins to mark 6am Malaysia time (5pm US time)... UJ shoot up like rocket... then 6.01.... BOOOMMM.... down. It was WEDNESDAY... the swap for long always TRIPPLE of your carry trades from Wednesday to Thursday. So normally BIG PLAYERS go LONG with massive lots.... then close position immediately when the SWAP is bank in. That is GUARANTEED income!

There are many more to be learn about carry trades... keep reading the NEWS section in FF and also Google or Yahoo search for it.
Quote
The extreme volatility of stock markets in recent weeks has helped the yen and the franc, low-yielding currencies, benefit as investors avoid risky 'carry trades.'

Carry trades involve borrowing currencies from countries with low interest rates and investing the funds in higher-yielding assets elsewhere. Carry-trade beneficiaries are usually the euro and currencies of countries with high interest rates.
  • #6,692
  • Feb 7, 2008 3:13am Feb 7, 2008 3:13am
Quoting Malaysia
Basic thing in CARRY TRADES... go LONG for the SWAP. If you notice this early morning... about 30mins to mark 6am Malaysia time (5pm US time)... UJ shoot up like rocket... then 6.01.... BOOOMMM.... down. It was WEDNESDAY... the swap for long always TRIPPLE of your carry trades from Wednesday to Thursday. So normally BIG PLAYERS go LONG with massive lots.... then close position immediately when the SWAP is bank in. That is GUARANTEED income!

There are many more to be learn about carry trades... keep reading the NEWS section in FF and also Google or Yahoo search for it.
Make Money With Carry Trades http://www.forexproject.com/images/M...rintButton.png http://www.forexproject.com/images/M...mailButton.png Wednesday, February 07, 2007
I don't know if I can call my current state of Forex trading a slump but February has been tough going for a couple of reasons. I've been experimenting with a couple of new strategies and unfortunately I always do so on a live account. This may not be the smartest thing to do but what's done is done. I'm currently at -217 for the month. The H-system is at -102 and Lien Schlossberg is at -83. I found out the other day that when I signed up for the service, I signed up using quarterly payments. This means that I have 3 months of their service. I'm going to see what I can do to change this to monthly because what I've seen so far from them is less than impressive. It's still early in the month so I have plenty of time to recover.
One addition to my trading history is the tracking of interest. I've been talking to another trader about carry trades and I've also been reading about an interesting strategy on the Oanda forums. You can read more about it but basically, this trader will buy a pair where the base currency has a higher interest rate, such as the GBP/JPY. The GBP has an interest rate of 5.25% and the JPY is at .25%. The easiest way to try to explain this is with an example:
First day: He'll buy the GBP/JPY at some predetermined time in the evening.

  1. If target hits 100 pip profit, he will close position
  2. There is no stop loss
  3. If 100 pips profit target is not hit, the position remains open
  4. He is collecting interest equal to GBP, JPY differential

Second day:

  1. If the current price is below the price he entered but not more than 100 pips below, he sits tight. Remember, this position is collecting interest.
  2. If the current price is over 100 pips below the price he entered at, he opens another position based on 1 percent of his NAV. So he is scaling in (on a losing position)
  3. If the current price is above the price he entered, he closes the position at a profit

To continue the example, I'll assume that he either had to scale in or sit tight. Third day:
This is basically a repeat of second day steps.

  1. If the current price is below the price he entered but not more than 100 pips below, he sits tight. Remember, this position is collecting interest.
  2. If the current price is over 100 pips below the price he entered at, he opens another position based on 1 percent of his NAV. So he is scaling in (on a losing position)
  3. If the current price is above the price he entered, he closes the position at a profit

This strategy could incur significant drawdowns but he's also collecting a nice amount of interest on money that really isn't his (leverage.)
I hope I'm understanding this. It's not the easiest thing to explain. Read over the thread at Oanda. I'm not saying I'm going to use this but I've never really investigated carry trade strategies and I find it very interesting.
Oanda post

  • #6,693
  • Feb 7, 2008 3:16am Feb 7, 2008 3:16am
Start your engine. Bagi panas sket. Ready to go. South or North depend on the news release @ 5.30 pm.

Pair to choose is GU. For South, it should break the support @ 1.9553

Good luck to all
  • #6,694
  • Feb 7, 2008 3:20am Feb 7, 2008 3:20am
Quoting fxfariz
Make Money With Carry Trades http://www.forexproject.com/images/M...rintButton.png http://www.forexproject.com/images/M...mailButton.png Wednesday, February 07, 2007
I don't know if I can call my current state of Forex trading a slump but February has been tough going for a couple of reasons.......... yada yada yada.........
Good INFO friend You got the right Idea about it. The only problems is GJ is very volatile.... sometimes move 1000pips in a day. Happened before. SO... that's the draw back if wanna leave position floating without SL on GJ. Everything got Pro and Cons.

SAVANT good at this... but he is on CNY holiday. When he comes back ... ask him... his been trading Carry Trades for ages
  • #6,695
  • Feb 7, 2008 3:22am Feb 7, 2008 3:22am
Quoting abanglong
Start your engine. Bagi panas sket. Ready to go. South or North depend on the news release @ 5.30 pm.

Pair to choose is GU. For South, it should break the support @ 1.9553

Good luck to all
please my friend...hold tight ur short position right now...it will push cable deep down...
  • #6,696
  • Feb 7, 2008 3:24am Feb 7, 2008 3:24am
Quoting abanglong
Start your engine. Bagi panas sket. Ready to go. South or North depend on the news release @ 5.30 pm.

Pair to choose is GU. For South, it should break the support @ 1.9553

Good luck to all
Engine started since early morning But not moving to any destination yet. Fuh... hours of warm up... now is the time. It could be just a SPIKE up or down since the most important News still pending. I guess... I wait until the actual release... see price action... then ACTION.

:surprised Huh It could be leaking NEWS... BIG PLAYERS got inside informer. CABLE and FIBLE already ROCKETING UP ...... Duh!!! FALSE ALARM
  • #6,697
  • Feb 7, 2008 3:29am Feb 7, 2008 3:29am
Quoting Malaysia
It could be just a SPIKE up or down since the most important News still pending. I guess... I wait until the actual release... see price action... then ACTION.
Yup. Beware of the spike. See where price goes. then.. u know what to do.
  • #6,698
  • Feb 7, 2008 3:37am Feb 7, 2008 3:37am
Aiyaa... news tak cantekk le. Not on my trigger.

Back to square one.
  • #6,699
  • Feb 7, 2008 3:37am Feb 7, 2008 3:37am
5:30pm GBP http://www.forexfactory.com/images/m...mpact_high.gif Industrial Production m/m -0.1% 0.2% -0.1%
5:30pm GBP http://www.forexfactory.com/images/m...act_medium.gif Manufacturing Production m/m -0.2% 0.1% -0.1%

I SHORTED and now EXIT... 15 pips only.... markets looks funny. UsdCHF drop down as well and FIBER shoot UP. Real STRANGE.

Now I am LONG at the DIP with SL 15pips. I am CRAZY. Don't follow me.
  • #6,700
  • Feb 7, 2008 3:37am Feb 7, 2008 3:37am
Quoting Malaysia
Good INFO friend You got the right Idea about it. The only problems is GJ is very volatile.... sometimes move 1000pips in a day. Happened before. SO... that's the draw back if wanna leave position floating without SL on GJ. Everything got Pro and Cons.

SAVANT good at this... but he is on CNY holiday. When he comes back ... ask him... his been trading Carry Trades for ages

huh..so nervous rite now...
normally i trade without stop loss...
im just wait until hit TP..
but today...nyawa2 ikan ready...

hrmm...
just let it be....
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