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  • #30,681
  • Sep 16, 2008 8:25am Sep 16, 2008 8:25am
Prices doing Lower Highs,
Southward forces slowly gaining grounds
There's a POT of GOLD at the END of the RAINBOW!!
  • #30,682
  • Sep 16, 2008 8:26am Sep 16, 2008 8:26am
Woah... what this sudden move south about all the sudden? Not good for me!
  • #30,683
  • Sep 16, 2008 8:31am Sep 16, 2008 8:31am
anyone know where this is head
  • #30,684
  • Sep 16, 2008 8:31am Sep 16, 2008 8:31am
Quoting wintrade
I'm kind a fresh-ish on the currencymarked, but regardig the rate-cut today; Will this help the US economy at all? Will the EUR boost up against USD when the cut is official?

Some how I keep saying to myself that the USD will rise against EUR due to the creation of "false safety" (due to the rate cut).
rate cuts will not save this economy, in fact it will make it worse, in fact i think they should have raised them last few months....the whole point of rate cuts was to avoid what IS going on now..this financial crisis and a recession(remember the stimulus package? FAILED)....clearly that continues and is getting worse by the day....soon enough inflation will be a concern too which would lead to guess what...the worst of all scenarios..stagflation...just my opinion and im not even big on fundamentals

wait i didnt answer your question...hahaha...theoretically it should...but like jurassic profile says...trade the reaction not the news

ALSO.....1.4185 good place to buy...20pip stop loss or so..just my opinion as a scalper trying to become TREND trader
Different opinions highly valued, ignorant to slander.
  • #30,685
  • Sep 16, 2008 8:32am Sep 16, 2008 8:32am
Quoting dougdude9
Woah... what this sudden move south about all the sudden? Not good for me!
(NO) NORWAY ALLOTS $5.0B IN FX SWAPS

More $s into the market. Traders are taking the money and cashing out in dollars.
  • #30,686
  • Sep 16, 2008 8:34am Sep 16, 2008 8:34am
i am so seriously battered and just about 180 pips from a margin call.i am longs and seriously stranded.i hope this thingy retraces otherwise i am kaput.this market has killed me.
  • #30,687
  • Sep 16, 2008 8:36am Sep 16, 2008 8:36am
In regard to rate cuts, I have a theory on how to make a little money.

Since I became fully aware of how important a rate change should be to us FX traders (after getting horribly burned by nzd/usd), I noticed a pattern. You guys can tell me if you think it's full of crap, but this is what I'm thinking.

You should always bet ON the currency with the rate change coming. Meaning, if the USD has a rate change coming, bet that it will get stronger against other currencies.

This worked with NZD/USD and AUD/USD, because just before the rate announcement, the currency goes way the heck up. I don't know if it's to knock out stop losses before a cut will drive the price down, or if it's because people get spooked and try to move the market one way or the other, but if you bet on it, chances are this will happen. And if the rate announcement is one that might make the currency weaker, simply get out when the wave changes direction. OR, the rate change will continue to push the currency in your favor, so it's win/win.
Do you think the karate kid knows kung-fu?
  • #30,688
  • Sep 16, 2008 8:37am Sep 16, 2008 8:37am
With ya on that oolides. This is my first live trade and it isn't a good start. I'm long and down some pipage here.
  • #30,689
  • Sep 16, 2008 8:37am Sep 16, 2008 8:37am
Today is a gamble waiting for it to go one way or another, I am +200
trading other pairs and i am going fishing anybody want to go?
  • #30,690
  • Sep 16, 2008 8:40am Sep 16, 2008 8:40am
Quoting oolides
i am so seriously battered and just about 180 pips from a margin call.i am longs and seriously stranded.i hope this thingy retraces otherwise i am kaput.this market has killed me.
You'll be ok, just be patient. I don't think it's going to stay down here long.
Do you think the karate kid knows kung-fu?
  • #30,691
  • Sep 16, 2008 8:40am Sep 16, 2008 8:40am
Closed a short entry based on BB hits for 50 pips in the time it took to drink a long cup of coffee. Going to call it an day and keep every single one of them. World is a bit screwy today.

Until tonite anyway... Careful trades all...

"Know when to hold 'em, know when to fold 'em, and know when to walk away...."
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FUBAR...
  • #30,692
  • Sep 16, 2008 8:40am Sep 16, 2008 8:40am
Quoting psiholog
rate cuts will not save this economy, in fact it will make it worse, in fact i think they should have raised them last few months....the whole point of rate cuts was to avoid what IS going on now..this financial crisis and a recession(remember the stimulus package? FAILED)....clearly that continues and is getting worse by the day....soon enough inflation will be a concern too which would lead to guess what...the worst of all scenarios..stagflation...just my opinion and im not even big on fundamentals

wait i didnt answer your question...hahaha...theoretically it should...but like jurassic profile says...trade the reaction not the news

ALSO.....1.4185 good place to buy...20pip stop loss or so..just my opinion as a scalper trying to become TREND trader

I would very much agree with your view. A rate cut of 25 basis points today, arguably even 50 lets say, would do very little in the US by the time it flows through.....especially considering the current conditions. It in fact would do more harm than good now IMO.
  • #30,693
  • Sep 16, 2008 8:40am Sep 16, 2008 8:40am
Quoting oolides
i am so seriously battered and just about 180 pips from a margin call.i am longs and seriously stranded.i hope this thingy retraces otherwise i am kaput.this market has killed me.

bro wat r u long from?
  • #30,694
  • Sep 16, 2008 8:41am Sep 16, 2008 8:41am
This way I trade News:
http://www.tradingliveonthenews.com/...807/index.html
{Promotion Removed}
  • #30,695
  • Sep 16, 2008 8:42am Sep 16, 2008 8:42am
trading NZD/USD is fun IMHO.. the candles dont lie
Money often costs too much...
  • #30,696
  • Sep 16, 2008 8:46am Sep 16, 2008 8:46am
Its hitting the 24hour floor. Should it rise back up?
(going down for a third floorhit?)
  • #30,697
  • Sep 16, 2008 8:49am Sep 16, 2008 8:49am
Quoting wintrade
Its hitting the 24hour floor. Should it rise back up?
yes..until break out occurs which will probably happen after fed rate decision..or at least close to it...we have been in a channel between 50% and 38.2% fib retracement (thursdays low to yesterdays high) for the past...forever!..haha

then again...paulson about to speak in 10mins...he might cause breakout too
Different opinions highly valued, ignorant to slander.
  • #30,698
  • Sep 16, 2008 8:50am Sep 16, 2008 8:50am
Quoting psiholog

then again...paulson about to speak in 10mins...he might cause breakout too
Breakout in what direction? =P
  • #30,699
  • Sep 16, 2008 8:52am Sep 16, 2008 8:52am
This is alot more scary than when doing demos... lol. hope my heart can take it. I'm to young to die. It will be interesting to see what this speech does. Normally I don't trade the news, but I'm already in a trade and I'm hoping by staying in, my long will work out!
  • #30,700
  • Sep 16, 2008 8:53am Sep 16, 2008 8:53am
Quoting wintrade
Breakout in what direction? =P
who knows..depends how he chooses his words...heres a good example...yesterday oil dropped big time well below 100 because "ike did not damage refineries"...they could have very well said "ike shut down refineries" which would have caused oil to jump up...well see
Different opinions highly valued, ignorant to slander.
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