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Knowledge is Power

  • #501
  • Jun 24, 2008 7:59am Jun 24, 2008 7:59am
Quoting bristolxyz
So Bruce,

Once again, a silly question, and I don't pretend to totally understand economics.. but why would the FED want to raise rates if it results in the value of the DLR going down, what else is th eresult or rates being raised? I mean immediatly?

Bristol
Any Question That Anyone Asks To Learn Something From Is A Good Question !!!

The FED does NOT want to raise rates PERIOD !!!

However if the market accepts their BS then it serves the same purpose as raising rates since they talk the US Dollar up !!!

However eventually if they do not raise as Oil goes higher and higher...

Everyone says BS and they lose credibility and then Forex Traders like you and I can send the US Dollar down to the Doggie House !!!

Bruce
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  • #502
  • Jun 24, 2008 8:00am Jun 24, 2008 8:00am
Quoting Warren Forex

I will short another position of 100K here as Dow Futues still down and my charts show it is at the top of the 1 minute chart on my Bollinger Bands !

Bruce
Do you use a 20 period or an 11 period bollinger band?

Thanks
  • #503
  • Jun 24, 2008 8:02am Jun 24, 2008 8:02am
Now Does The Fed Cut ?

Wow ! Such is Life ! Watch the Dow and Consumer Confidence at 10:00 AM


Bruce
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  • #504
  • Jun 24, 2008 8:05am Jun 24, 2008 8:05am
Quoting Warren Forex
Now Does The Fed Cut ?

Wow ! Such is Life ! Watch the Dow and Consumer Confidence at 10:00 AM


Bruce

Larry Curly and Moe on CNBC is saying it could have been worse so it is better so Dow Futures only down 31 now !

Any wonder most people get confused not understanding the silly game they play OVER and OVER !!!


Bruce
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  • #505
  • Edited 8:16am Jun 24, 2008 8:15am | Edited 8:16am
Bruce, the following earnings announcements are showing on Marketwatch:

Kroger posts higher quarterly profit, updates full-year view
ConAgra says fourth-quarter earnings to be above forecast
Kesa proforma profit climbs 7.3%, sees tough market ahead
Debenhams same-store sales up 1%

They all seem good to me, do you think they will put the DOW in the green as the day wears on?

Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #506
  • Jun 24, 2008 8:17am Jun 24, 2008 8:17am
Good Trading All Watch The Dow Open and See Where It Is at 11:00 AM

We might see some strange things happen. FED is meeting now !!!


Bruce
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  • #507
  • Jun 24, 2008 8:20am Jun 24, 2008 8:20am
OK, I am short 107.85, taking profit at 107.76 (1 lot of 100,000 in my practice acct).

Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #508
  • Jun 24, 2008 8:21am Jun 24, 2008 8:21am
Quoting bristolxyz
Bruce, the following earnings announcements are showing on Marketwatch:

Kroger posts higher quarterly profit, updates full-year view
ConAgra says fourth-quarter earnings to be above forecast
Kesa proforma profit climbs 7.3%, sees tough market ahead
Debenhams same-store sales up 1%

They all seem good to me, do you think they will put the DOW in the green as the day wears on?

Bristol
Who Is Looking At Those Companies that operate all over the world and what does that have to do with the US Economy ?


Bruce
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  • #509
  • Jun 24, 2008 8:24am Jun 24, 2008 8:24am
Most of them retail or food (necessities mostly).
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #510
  • Jun 24, 2008 8:28am Jun 24, 2008 8:28am
If the DOW fut shows down, why does the USD/JPY spike before opening ?

http://images.bloomberg.com/r06/glob...green-blue.gif FUTURES
VALUECHANGE% CHANGEDow11,798.00-33.00-0.28S&P 5001,313.20-5.10-0.39NASDAQ1,907.25-10.75-0.56
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #511
  • Jun 24, 2008 9:11am Jun 24, 2008 9:11am
I used GFT Forex to place an order and it was "rejected" I then placed a market order that got "requoted", then filled after more that 13 pips. I wasn't inside of the "news trade", I was actually more than a minute outside of it when there was no movement hardley at all.
What gives with these brokers? I get increasingly irritated with GFT Forex when things like this happen.
Rejected? Requoted?

?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #512
  • Jun 24, 2008 9:15am Jun 24, 2008 9:15am
Quoting Warren Forex
Any Question That Anyone Asks To Learn Something From Is A Good Question !!!

The FED does NOT want to raise rates PERIOD !!!

However if the market accepts their BS then it serves the same purpose as raising rates since they talk the US Dollar up !!!

However eventually if they do not raise as Oil goes higher and higher...

Everyone says BS and they lose credibility and then Forex Traders like you and I can send the US Dollar down to the Doggie House !!!

Bruce
I think US dollar will going down too if FED raise, cut and hold rates. So better raise the rates to curb inflation and push oil lower.
  • #513
  • Jun 24, 2008 9:29am Jun 24, 2008 9:29am
Quoting bristolxyz
I used GFT Forex to place an order and it was "rejected" I then placed a market order that got "requoted", then filled after more that 13 pips. I wasn't inside of the "news trade", I was actually more than a minute outside of it when there was no movement hardley at all.
What gives with these brokers? I get increasingly irritated with GFT Forex when things like this happen.
Rejected? Requoted?

?
Most of the brokers i met are doing this too. You can't fight with them, i had sent a hundred dozen of e-mails and letters to complain about this but nothing much changes done by them. This always happen when news came out. So to avoid this i have no other solution but combine technical and fundamental to trade. i always place my order on 6.00am or 7.00am. Try to predict the economics data or figure by goverment using macroecons. Like just now the consumer confidence index is expected to be worst as oil price going high. This happens to Germany consumer confidence index too.

You can try to switch broker. I dont trust GFT actually. I'm thinking to switch broker too because my brokers suck big time too. I can't place an order during news time. If i do the profit that i reap will be forfeited. My broker give excuses that they can do hedging during news came out as big spike happens. This suck man. That why i'm placing my order earlier.

Bruce, can you recommend any brokers? I prefer those big firm like MF Global. Any other brokers beside MF Global?
  • #514
  • Jun 24, 2008 9:39am Jun 24, 2008 9:39am
ehcydotcom,

Yep. I called the orderdesk and they of course had a lame excuse about trading during news. It was outside of the announcement so I don't see how it matters. Even with slippage and a late execution, I should be in a winning trade, but now I am out by over $100 for that trade. (hahah my practice account is doing well Bruce! No issues there )
Oh well, no sense crying about it.
I have a friend that has changed brokers several times and always has issues (he trades the news).
I've always tried to be very patient and either trade well before the news using my own preception with fundementals and charting, but sometimes it's hard to not want to wait. My "live" account is doing ok. Most of teh time I am able to soak up little bits and pieces of the dollar and make small profits. It's so hard to have patience, or not wait too long, or wait out stops etc getting greedy.

Bristol


Quoting ehcydotcom
Most of the brokers i met are doing this too. You can't fight with them, i had sent a hundred dozen of e-mails and letters to complain about this but nothing much changes done by them. This always happen when news came out. So to avoid this i have no other solution but combine technical and fundamental to trade. i always place my order on 6.00am or 7.00am. Try to predict the economics data or figure by goverment using macroecons. Like just now the consumer confidence index is expected to be worst as oil price going high. This happens to Germany consumer confidence index too.

You can try to switch broker. I dont trust GFT actually. I'm thinking to switch broker too because my brokers suck big time too. I can't place an order during news time. If i do the profit that i reap will be forfeited. My broker give excuses that they can do hedging during news came out as big spike happens. This suck man. That why i'm placing my order earlier.

Bruce, can you recommend any brokers? I prefer those big firm like MF Global. Any other from MF Global?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #515
  • Jun 24, 2008 10:28am Jun 24, 2008 10:28am
There ya go, market up after crappy news. It figures.

Bristol

Quoting Warren Forex
Who Is Looking At Those Companies that operate all over the world and what does that have to do with the US Economy ?


Bruce
Quote
Originally Posted by bristolxyz http://www.forexfactory.com/images/buttons/viewpost.gif
Bruce, the following earnings announcements are showing on Marketwatch:

Kroger posts higher quarterly profit, updates full-year view
ConAgra says fourth-quarter earnings to be above forecast
Kesa proforma profit climbs 7.3%, sees tough market ahead
Debenhams same-store sales up 1%

They all seem good to me, do you think they will put the DOW in the green as the day wears on?

Bristol
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #516
  • Jun 24, 2008 10:58am Jun 24, 2008 10:58am
Can that be what is leading the market UP? That and all the financials along with hoseing stocks. What do you think Bruce?
I read news this morning till I was blue in the face. And it goes th eother way.

B
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #517
  • Jun 24, 2008 11:20am Jun 24, 2008 11:20am
Quoting bristolxyz
Can that be what is leading the market UP? That and all the financials along with hoseing stocks. What do you think Bruce?
I read news this morning till I was blue in the face. And it goes th eother way.

B
I think it's because money coming out from Japanese Yen. As you can see EUR/JPY had a big spike too but EUR/USD has little change.
  • #518
  • Jun 24, 2008 12:51pm Jun 24, 2008 12:51pm
HI ALL,
I was out for some days and was not able to catch up with this thread. Did Bruce started the training ? I hope everyone is benefitting from his wisdom. I am going out again tomorrow and will be back on next Monday. I promise will contribute to this thread after I come back. Keep this thread alive and running


Leo
  • #519
  • Jun 24, 2008 3:50pm Jun 24, 2008 3:50pm
Quoting ehcydotcom
I think it's because money coming out from Japanese Yen. As you can see EUR/JPY had a big spike too but EUR/USD has little change.
The News itself. How the market reacts to the news. What EUR/USD is doing ? What the Dow is doing ? The time of day ?

From here until 5:00 PM tomorrow, be ready for anything !

Good Trading !

My feeling is 107.00 and below however no sure thing so be ready to adjust based on new factors out there.


Bruce
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  • #520
  • Jun 24, 2008 3:56pm Jun 24, 2008 3:56pm
Strategy:[email protected] Short taken against the rebound from the spike low of 107.37 was stopped out at the 108.05 rebound high. Oversold hourly buys lifted prices after the morning spike lower, now neutral. Dailies are primed for a breakout and remain top-heavy. Eyeing last two days" lows near 107.10 as the initial downside pivot; 108.60 on the topside.(RD) 19:56 GMT

Date: 2008/06/24Time: 21:32 (GMT +2)Ticker: JPYLast: 107.81Pivot: 107.61st sup.107.62nd sup.107.353rd sup.107.151st res.108.052nd res.108.253rd res.108.4Title: USD/JPY intraday: bullish bias above 107.6.Summary: Update on supports and resistances.Story: Pivot: 107.6

Our preference: Long positions above 107.6 with targets @ 108.05 & 108.25 in extension.

Alternative scenario: Below 107.6 look for further downside with 107.35 & 107.15 as targets.

Comment: Intraday technical indicators are mixed and call for caution.
http://www.tradingcentral.com/chart/...0624153149.GIF
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