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  • #78,841
  • Edited 9:32am Mar 23, 2009 9:32am | Edited 9:32am
Quoting trading801
dont flame me but. .. maybe more folks are forexing into USD to buy stocks?
euro pretty much hit the 38.2 retrace today @ 1.3746. imo, euro is outta gas. also, bond market yields are flat, not too much selling of treasuries.
"i wake up in the morning, and i piss excellence"
  • #78,842
  • Mar 23, 2009 9:51am Mar 23, 2009 9:51am
For all those who bother following the news a prime example today of why I do not:

Reuters- (Tokyo)

* Manufacturer sentiment weakest in at least five years
* BOJ tankan survey expected to be worst in about 34 yrs * Land prices fall for first time in three years.

By Yuzo Saeki

TOKYO, March 23 (Reuters) - Big Japanese manufacturers have grown increasingly bleak about business conditions in the last three months, suggesting a key central bank survey due next week could show the corporate mood is at its worst in about 34 years..........................


So what does the Nikkei do? Go up 3.4%
  • #78,843
  • Mar 23, 2009 10:04am Mar 23, 2009 10:04am
Quoting SunTrader
For all those who bother following the news a prime example today of why I do not:

Reuters- (Tokyo)

* Manufacturer sentiment weakest in at least five years
* BOJ tankan survey expected to be worst in about 34 yrs * Land prices fall for first time in three years.

By Yuzo Saeki

TOKYO, March 23 (Reuters) - Big Japanese manufacturers have grown increasingly bleak about business conditions in the last three months, suggesting a key central bank survey due next week could show the corporate mood is at its worst in about 34 years.............................
lol, got to love the punch line at the end
  • #78,844
  • Mar 23, 2009 10:09am Mar 23, 2009 10:09am
suntrader u are funny...

btw sometimes i think those news dont know anything.. they see the PA and try to associate something with it lol

for eg.. the s & p goes down and just happens there is an obama talk...

story = the S & P 500 went down by 5% on fears by investors on how the plan will help the economy

anyone noticeD?
  • #78,845
  • Mar 23, 2009 10:17am Mar 23, 2009 10:17am
So the 15Min 200MA is negative. We have a triple top, Big 200pip decline today...If we make a lower high I am thinking to short. Around the 3660-3700 area....
  • #78,846
  • Mar 23, 2009 10:21am Mar 23, 2009 10:21am
Quoting trading801
suntrader u are funny...

btw sometimes i think those news dont know anything.. they see the PA and try to associate something with it lol

for eg.. the s & p goes down and just happens there is an obama talk...

story = the S & P 500 went down by 5% on fears by investors on how the plan will help the economy

anyone noticeD?
Yep. Generally speaking the news comes after the fact. The news channels need to make something up for the move up or down.

The most pathetic and boring explanation that I hear them say is that if the EUR/USD goes down then people were being very risk averse and piled money into the USD.

But they never tell me why those traders felt that they had to do that. Why at that moment during the day did on mass the market decide to go down. Why all of a sudden did it make that move. No detail is provided from such tv channels.

Worst is CNBC with all their political BS. Asking politicans where they see the economy. OMG....so boring.

I'm tired of watching the same bs on news channels.

I appreciate that there are some fundemental events such as interest rate decisions or NFP and things like that which move the markets in a crazy way but beyond those types of events, there never seems to be much detail from these journalists.

There are no real tips...just a bunch of interviews with people like fund managers and the like who have a vested interest. They get them to talk up or down some stock or market that they try to benefit from.

It's pathetic actually....maybe I'm a bit harsh but i don't think so
  • #78,847
  • Mar 23, 2009 10:42am Mar 23, 2009 10:42am
Quoting emda
it depends on your skills
I'd recommend 20
I don't understand this talk about leverage. I have 50 because Oanda doesn't give more, but I would not trade any different if I had 20 or 400 leverage.
High leverage does not mean you have to trade for the maximum possible.
If that was the case, yes then I would have a leverage 1:10
New voice message: Why are you calling me? If I need you, I'll call you!
  • #78,848
  • Mar 23, 2009 10:43am Mar 23, 2009 10:43am
after retest possible run down
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  • #78,849
  • Mar 23, 2009 10:43am Mar 23, 2009 10:43am

Well guys,
I think that here where we are now, the market does not know what to do.

I will do the following things:
if at 12.00h open > 3554 .. then long
if at 12.00h open < 3548 ... then short
if between .. then nothing

The best thing that can happen to you is to find out where you're wrong.
  • #78,850
  • Mar 23, 2009 10:44am Mar 23, 2009 10:44am
Quoting SunTrader
For all those who bother following the news a prime example today of why I do not:

Reuters- (Tokyo)

* Manufacturer sentiment weakest in at least five years
* BOJ tankan survey expected to be worst in about 34 yrs * Land prices fall for first time in three years.

By Yuzo Saeki

TOKYO, March 23 (Reuters) - Big Japanese manufacturers have grown increasingly bleak about business conditions in the last three months, suggesting a key central bank survey due next week could show the corporate mood is at its worst in about 34 years.............................
it went up because details of geithner bank plan was leaked yesterday and investors liked what they heard.
"i wake up in the morning, and i piss excellence"
  • #78,851
  • Mar 23, 2009 10:49am Mar 23, 2009 10:49am
Quoting Driver55

Well guys,

I think that here where we are now, the market does not know what to do.


I will do the following things:...


if between .. then nothing

Best post of the week so far.

Me? Fewer pips than I had at one point, and more than I had at another point = I'm outa here and glad for what I got.

Now I'm gonna run like I stole 'em from the mob.
FUBAR...
  • #78,852
  • Mar 23, 2009 10:49am Mar 23, 2009 10:49am
Quoting trader69
it went up because details of geithner bank plan was leaked yesterday and investors liked what they heard.
no one believes a "leaked" plan and you shouldn't too
  • #78,853
  • Mar 23, 2009 10:54am Mar 23, 2009 10:54am
Quoting trader69
it went up because details of geithner bank plan was leaked yesterday and investors liked what they heard.
Did you hear that on the news?

My point was, I don't care. It went up is all that matters.
  • #78,854
  • Mar 23, 2009 10:55am Mar 23, 2009 10:55am
Quoting KillerWhale
I don't understand this talk about leverage. I have 50 because Oanda doesn't give more, but I would not trade any different if I had 20 or 400 leverage.
High leverage does not mean you have to trade for the maximum possible.
If that was the case, yes then I would have a leverage 1:10
I could be in error, but with my broker (Oanda) i can change the account leverage in the menu, but when I trade I haven't any parameter to set for that specific order. So now I have 50 for every order I place. I'm thinking to switch to 20 for reduce the risk....
With other platform I know you can choose for each order what leverage to use.
I'll send a bottle of wine to my first voucherer ;-)
  • #78,855
  • Mar 23, 2009 10:58am Mar 23, 2009 10:58am
If you want to reduce the risk, just trade a smaller lot and calculate how much you're willing to risk for that trade, and put a suitable stop loss for it.
  • #78,856
  • Mar 23, 2009 11:00am Mar 23, 2009 11:00am
EUR-USD Down trendline being tested. See 15 min chart
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  • #78,857
  • Mar 23, 2009 11:04am Mar 23, 2009 11:04am
Quoting richboy1972
I could be in error, but with my broker (Oanda) i can change the account leverage in the menu, but when I trade I haven't any parameter to set for that specific order. So now I have 50 for every order I place. I'm thinking to switch to 20 for reduce the risk....
With other platform I know you can choose for each order what leverage to use.
IMO - you should ignore the leverage - Just work out what ur happy to risk - say 2% of equity and trade lot size accordingly.

If you got 10k in the acc 2% is $200 - thats what you should risk per trade.
  • #78,858
  • Mar 23, 2009 11:06am Mar 23, 2009 11:06am
Quoting KillerWhale
I don't understand this talk about leverage. I have 50 because Oanda doesn't give more, but I would not trade any different if I had 20 or 400 leverage.
High leverage does not mean you have to trade for the maximum possible.
If that was the case, yes then I would have a leverage 1:10
by limiting the leverage in your broker account to 10 or 20.. keeps you out from over risking your exposure.
if you use tight stops... like in scalping... you can use huge leverage... and the more leverage. the better.... but we are talking about trading... not scalping. to avoid noise wipeouts you normally don't want to use more than 50x leverage. specially true in this high volatile market.
  • #78,859
  • Mar 23, 2009 11:13am Mar 23, 2009 11:13am
I see it could be possible to check pivot again at 1.3600
  • #78,860
  • Mar 23, 2009 11:18am Mar 23, 2009 11:18am
I put a sell limit early befor i go to my work @1.3740 now i see it reach 1.3735 and drop !! what can i say 5 PIP lost my profit of 200 pip!!!
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