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  • #101
  • Jan 21, 2010 1:20pm Jan 21, 2010 1:20pm
Speaking of the financial crisis, it was at least 50% due to the government in the first place. Those clowns were suing banks who weren't lending to people who weren't as qualified and claiming discrimination. They basically forced the banks to make a lot of the loans that eventually came back to kill the American financial system.

And now they are penalizing the banks?
  • #102
  • Jan 21, 2010 1:29pm Jan 21, 2010 1:29pm
agreed agreed agreed
  • #103
  • Jan 21, 2010 1:46pm Jan 21, 2010 1:46pm
I have been 4 lots short on Aussie since yesterday morning from 0.9128, TP 0.9006, no SL
  • #104
  • Jan 21, 2010 1:56pm Jan 21, 2010 1:56pm
I'm watching the Nov-Dec head and shoulders neckline for possible support. Might move up TP 10 pips if it does
  • #105
  • Jan 21, 2010 3:25pm Jan 21, 2010 3:25pm
They (Bill Clinton) forced the government to lend to people who couldn't afford to repay their loans and now Obama is pandering to the same worthless base by punishing those big bad banks.

He will be the last Dem president for 50 years.. I've been trying to avoid politics, but I am truly pissed about this.
  • #106
  • Jan 21, 2010 3:34pm Jan 21, 2010 3:34pm
http://www.nytimes.com/1999/09/30/bu...l?pagewanted=1

Notice the date of the article.. Sep 1999. .I'm surprised the NY Times didn't burn this article
  • #107
  • Jan 21, 2010 3:42pm Jan 21, 2010 3:42pm
Quoting Dam.
I have been 4 lots short on Aussie since yesterday morning from 0.9128, TP 0.9006, no SL
Bingo - you should have been hit - nice trade! What prompted you to take the short if you don't mind my asking?
  • #108
  • Jan 21, 2010 5:05pm Jan 21, 2010 5:05pm
126.8 is monster support on a weekly chart in EJ

I'm still long .. out at 126.6
  • #109
  • Jan 21, 2010 6:58pm Jan 21, 2010 6:58pm
Did you guys hear that we might be restricted to 10 to 1 leverage in the US?

This is from my broker..

"The U.S. Commodity Futures Trading Commission (CFTC) announced on January 13, 2010 that it is seeking public comment on proposed regulations concerning retail forex trading.

As part of the proposed regulations, "leverage in retail forex customer accounts would be subject to a 10-to-1 limitation," which means 10:1 leverage would be the maximum amount allowed for forex traders in the U.S. "
  • #110
  • Jan 21, 2010 9:04pm Jan 21, 2010 9:04pm
selling Euro 1.413 .. London session should be brutal..
  • #111
  • Jan 21, 2010 9:23pm Jan 21, 2010 9:23pm
Quoting TraderZer0
Bingo - you should have been hit - nice trade! What prompted you to take the short if you don't mind my asking?
Considering daily chart PA since October, predicted a significant bounce off the 0.9320 area and the recent double-top worked to confirm that.
  • #112
  • Jan 21, 2010 9:39pm Jan 21, 2010 9:39pm
Quoting Dam.
Considering daily chart PA since October, predicted a significant bounce off the 0.9320 area and the recent double-top worked to confirm that.
Well if you can regularly jag 100+ pips with 4 full lots that's nice going!

The Aussie is a good currency to trade: strong trends without as many violent whipsaws as many others. ATR is also pretty good at 125 pips daily over the past year; EUR is not much higher at 159.
  • #113
  • Jan 21, 2010 9:42pm Jan 21, 2010 9:42pm
Quoting Pippy5000
Did you guys hear that we might be restricted to 10 to 1 leverage in the US?

This is from my broker..

"The U.S. Commodity Futures Trading Commission (CFTC) announced on January 13, 2010 that it is seeking public comment on proposed regulations concerning retail forex trading.

As part of the proposed regulations, "leverage in retail forex customer accounts would be subject to a 10-to-1 limitation," which means 10:1 leverage would be the maximum amount allowed for forex traders in the U.S. "
It seems that there will be ways around it. Just have to adapt if it comes into play, and by that I don't mean trading 10:1
  • #114
  • Jan 21, 2010 9:47pm Jan 21, 2010 9:47pm
Quoting TraderZer0
Well if you can regularly jag 100+ pips with 4 full lots that's nice going!

The Aussie is a good currency to trade: strong trends without as many violent whipsaws as many others. ATR is also pretty good at 125 pips daily over the past year; EUR is not much higher at 159.
Well that trade was certainly the exception to the rule, but maybe one day... I enjoy trading Aussie, it always seems to be going somewhere
  • #115
  • Jan 21, 2010 10:03pm Jan 21, 2010 10:03pm
Quoting Dam.
Well that trade was certainly the exception to the rule, but maybe one day... I enjoy trading Aussie, it always seems to be going somewhere
The carry trade alone ensures nice strong trends - it's always winding up or unwinding.

By the way, I was in your home town of Toronto in late October and it reminds me so much of my former home town in Australia - Melbourne. Both have good restaurants, shopping, sports mad and are cosmopolitan without being ginormous.

Anyway, congrats on the big trade: I'd better get my act together and get back to trading - things might be getting warmer with the Aussie once Europe opens.
  • #116
  • Jan 21, 2010 10:34pm Jan 21, 2010 10:34pm
Quoting TraderZer0
By the way, I was in your home town of Toronto in late October and it reminds me so much of my former home town in Australia - Melbourne. Both have good restaurants, shopping, sports mad and are cosmopolitan without being ginormous.
Born and raised, great city, but would like to see my way out. I have Vancouver in my sights after all the craziness out there is through.

Long EJ as well, 126.93
  • #117
  • Jan 21, 2010 10:59pm Jan 21, 2010 10:59pm
I got 70 on UJ got 30 on UJ lost 70 on EJ and I'm closing EU for 15 to end a very crazy day, but a positive day

10 to 1 will ruin my life.. Realistically, I will have to keep $20,000 in my trading account to trade with $100,000 and have enough margin for pullbacks..

One bad month and I'll have to go get a job or sell my personal property to maintain the ridiculous amount of margin they want me to keep.

I'm fuming at the government today and I'm just about the most apolitical person you'll ever meet.
  • #118
  • Jan 21, 2010 11:07pm Jan 21, 2010 11:07pm
Yes, if I was as invested as you into this, I would be extremely pissed at the prospect of a change to 10:1. But there will be a lot of incentive for brokers outside the US to find a way to allow US traders to trade with greater margin.
  • #119
  • Jan 21, 2010 11:08pm Jan 21, 2010 11:08pm
heh.. we might be neighbors soon DAM.. I need to buy a big coat and learn the rules to hockey.
  • #120
  • Jan 21, 2010 11:12pm Jan 21, 2010 11:12pm
haha, the cold isn't all that bad, you had a taste of it not too long ago. And I don't even like hockey that much
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