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  • #74,721
  • Mar 12, 2009 10:10am Mar 12, 2009 10:10am
Quoting trading801
p/s stock is doing good today.. usual this means usd weakens right?
usually no correlation, if there is it's temporary. My BAC vertical spreads are killing the Bears tho
"Diversification is an excuse for a lack of talent" ~FXC
  • #74,722
  • Mar 12, 2009 10:12am Mar 12, 2009 10:12am
I'm short and will be short, it's either you're with me or against me, in the end we're all just exchanging money.
"Diversification is an excuse for a lack of talent" ~FXC
  • #74,723
  • Mar 12, 2009 10:13am Mar 12, 2009 10:13am
Quoting Jhig
Yeah ... I check my ego at the door, before sitting down in front of my computer.

But what I still don't understand is, why did GBP gain from the SWISS currency buy/rate cut?
GBP/CHF moved 500 pips in favor of GBP.
The snb sold the swissy against everything who would stand in front of them? seems like they made it clear.
"Simplicity is the ultimate sophistication" leonardo da vinci
  • #74,724
  • Mar 12, 2009 10:13am Mar 12, 2009 10:13am
I will be looking for longs, instead of shorts at the moment.

But not right now, market is still pretty much undecided by the looks of it.

Next target will be 1.2850 or 1.2880.

Unless of course a 1H candle closes below the 1.2740 line.
Attached Image (click to enlarge)
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  • #74,725
  • Mar 12, 2009 10:14am Mar 12, 2009 10:14am
Looks like 1.2730 is strong support, if dow holds gains i'm takin ga long and putting a stop there, euro is holding up well.
  • #74,726
  • Mar 12, 2009 10:14am Mar 12, 2009 10:14am
Quoting stewrigh
It was general Franc weakness - both the Dollar and pound went up
Thanks Stewrigh,
See I never keep up with the FRANC. Though, if I were are trader that traded news/fundies ... I would have probably have bet all my equity in favor of the FRANC ... and would have lost it all.

Thankfully, I'm not a fundie trader.
  • #74,727
  • Mar 12, 2009 10:16am Mar 12, 2009 10:16am
Quoting vulture
The snb sold the swissy against everything who would stand in front of them? seems like they made it clear.
yes, and they shouted the news of these foreign currency purchases from the rooftop, so the effect would be big and traders would hopefully learn not to fight the intentions of the SNB, through continuing to make large one-way bets in favour of the CHF.

incredible moves though....
  • #74,728
  • Mar 12, 2009 10:17am Mar 12, 2009 10:17am
Emas are given sell order
  • #74,729
  • Mar 12, 2009 10:19am Mar 12, 2009 10:19am
Quoting trading801
p/s stock is doing good today.. usual this means usd weakens right?
Some week ago, that's right. But now, it's maybe not like that.
You will see stock up and USD index up to, not sure just my watching.
The market is always right, but it is not never wrong!!!
  • #74,730
  • Mar 12, 2009 10:19am Mar 12, 2009 10:19am
jailed bernie
Disgraced money manager Bernard Madoff is expected to plead guilty on Thursday to 11 criminal counts stemming from his alleged multibillion pyramid scheme. But Madoff's decision not to fight the charges leaves him under no obligation to disclose any accomplices or turn over assets, leaving his ruined clients worried they may never see justice.
those who can, do. those who cant, talk about those who can
  • #74,731
  • Mar 12, 2009 10:22am Mar 12, 2009 10:22am
I am keeping my shorts until 1.2833.

I see further down moves, must see where we will close today!

But all set ups is to the Downside, but and there is always a but do not get too overconfident and do not overtrade.

Control your MM, see my average in my chart 1.2832.

You guys must think, if this guy is almost all the time certain why not to heavily open trades and just leave it! this doesn't work like that.
The Market only gives you money if you follow Market rules, who break the rules will be killed by the market!
Attached Image
  • #74,732
  • Mar 12, 2009 10:22am Mar 12, 2009 10:22am
This might explain some of the Swiss Franc weakness.

http://www.instantnews.net/ubs-deal-...ttractive.aspx
  • #74,733
  • Mar 12, 2009 10:22am Mar 12, 2009 10:22am
down to 1.25 i think..
  • #74,734
  • Mar 12, 2009 10:23am Mar 12, 2009 10:23am
Just got some on my positions
"Diversification is an excuse for a lack of talent" ~FXC
  • #74,735
  • Mar 12, 2009 10:24am Mar 12, 2009 10:24am
Quoting gatorinla
...anyway i like getting some of that gov corp welfare where i bought houses for a 1 dollar... and this time i got plenty of dollars lined up..at taxpayers expence .i almost bought one from the bank neil bush screwed taxpayers on but was under bid... thanks for the welfare program..

I don't have to speak for you...your pro-welfare, pro realocation of taxpayer funds is documented in your own words...you must have forgotten.
It's OK GatorinLA..the memory is the first thing to go...Just make sure you put away sharp objects and hire a nurse or your children to check on you once in a while.
  • #74,736
  • Mar 12, 2009 10:24am Mar 12, 2009 10:24am
Quoting BoredToLoose
I am keeping my shorts until 1.2833.

I see further down moves, must see where we will close today!

But all set ups is to the Downside, but and there is always a but do not get to overconfident and do not overtrade.

Control your MM, see my average in my chart 1.2832.

You guys must think, if this guy is almost all the time certain why not to heavily open trades and just leave it! this doesn't work like that.
The Market only gives you money if you follow Market rules, who break the rules will be killed by the market!
Looks like a slanted HnS
"Diversification is an excuse for a lack of talent" ~FXC
  • #74,737
  • Mar 12, 2009 10:26am Mar 12, 2009 10:26am
Quoting stewrigh
This might explain some of the Swiss Franc weakness.

http://www.instantnews.net/ubs-deal-...ttractive.aspx
thanks. pretty informative. i did not consider the UBS effect in today's moves..
  • #74,738
  • Mar 12, 2009 10:28am Mar 12, 2009 10:28am
Doubt it's going to happen sometime today.

It hasn't even come anywhere close to going past 1.2700 yet, keeps getting rejecting. So I think for now, the current uptrend will hold.




Quoting Gogson
down to 1.25 i think..
  • #74,739
  • Mar 12, 2009 10:31am Mar 12, 2009 10:31am
Quoting BoredToLoose
I am keeping my shorts until 1.2833.

I see further down moves, must see where we will close today!

But all set ups is to the Downside, but and there is always a but do not get to overconfident and do not overtrade.

Control your MM, see my average in my chart 1.2832.

You guys must think, if this guy is almost all the time certain why not to heavily open trades and just leave it! this doesn't work like that.
The Market only gives you money if you follow Market rules, who break the rules will be killed by the market!
I leave a lot of my good trades open, once I have correctly identified the initial move and suspect a major trend that way. So, say I am up 25 pips on a trade, I move my SL down in to profitable territory, and I leave it, than if I get another signal the same way, I trade it again, and repeat, and so forth. Some people like to lock in trades, and that is good, I just like to get a feel and go with it. I don't know what I'm doing quite yet, but I'm getting better. I was playing around with hedges last night, and came away huge, about 33%, without risking anymore than 2% at a time. That doesn't mean I didn't have more than 2% open on trades, but those were protected by profitable stoplosses.
  • #74,740
  • Mar 12, 2009 10:36am Mar 12, 2009 10:36am
If this one close green and next one cross 1.2800 I am sure it will go to 1.2827!!
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