Pro Swing Trading

Hi ,

sorry what's wrong with my ID ?

LOL Ok

If you dont want to follow him then dont. You have a choice. Just dont knock other people for following him. I dont post on this website either. I think most people are just signed up for his service.

Yes.
A very nice finish to the month Nick. Well done!

Morning,

I hope you had great weekend, today i edited first post of this thread and added some text for better guide.

Thanks
Nick

U.S. stocks fell in light trading on Monday as investors took profits on recent gains, using middling economic data and worries about euro zone debt as a catalyst for shedding long positions.

Commodities stocks led the decliners in reaction to the rising dollar. The greenback was stronger as investors shifted away from the euro, which fell about 0.8 percent versus the dollar in late trading, on renewed concerns about euro-zone public debt. The S&P materials index .GSPM led the decline, falling 1.4 percent.

cheers

Hi,

As trading idea E/U has short setup.

Cheers
Nick

Careful calibration of a U.S. dollar devaluation looks to be the only way to avert the sort of currency war flagged by Brazil and others, leaving G20 powers the unenviable task of agreeing some control of the process.

The top world economies, shaken by three years of financial turmoil, are scrambling to cap or weaken their currencies in a fight over fragile global demand for exports -- prompting retaliatory capital curbs and damaging trade rows.

As G20 finance chiefs prepare to meet on October 22, they are no closer to resolution of the decade-old bugbear of global imbalances between export-driven economies -- mostly developing nations such as China, but also Japan and Germany -- and the big global consumers, the United States, Britain and elsewhere.

While there have been loose agreements on rebalancing over time -- where emerging powers allow currencies to rise gradually -- the lack of an agreed blueprint to manage the transition is already prompting unilateral actions and tit-for-tat reactions in a febrile economic and political environment.

Faced with fiscal exhaustion, hostile electorates and booming China's refusal to allow a rapid rise of the yuan, the U.S., Japan and possibly Britain seem set on another bout of money printing to reboot their ailing economies and weaken their currencies.

Fast-growing developing countries with flexible exchange rates are caught in the crossfire and are reacting fast, leading to Brazil on Monday to double taxes on foreign inflows and South Korea on Tuesday to threaten curbs on currency trading.

France, which takes G20's rotating chair next month, has denied weekend reports of "secret negotiations" with China. But it's clear that patience in the status quo is running out.

"To avoid the damaging consequences of continued unilateral action ... a core group of major economies needs to agree urgently on a multilateral and coordinated package of policy measures," Charles Dallara, director of banking group the Institute for International Finance, said on Monday.

U.S. trade threats against China over the yuan showed the "counterproductive nature of unilateral policy," Dallara said in an open letter to the International Monetary Fund's annual meeting.

ALL HANDS TO THE PUMP

The main problem for emerging economies is much of the freshly minted "core" liquidity, chased away by depressed western interest rates, is flowing to higher overseas returns rather than strapped firms and households in America or Japan.

Their bind is a choice between standing back and accepting

export-stunting currency surges and asset bubbles or to resume heavy intervention or capital controls that lead to inflation headaches or further trade distortions.

Robert Johnson, director of the Soros-funded Institute for New Economic Thinking, said G20 needs agreement on the size and pace of the currency shifts between three main groups -- the United States and major consumers; the big exporters of China, Japan and Germany; and a grouping of emerging exporters.

eu stoped me out by 1 pip

Few pips of gain.
Stop loss for me was set at 1.3886, with 1.3880 as max.
Sorry for your, just 1 pip :-(

recorded negative on website

I like your honesty. Nice one.

Ugly market today.

EU looks like it may be topping for a down move to 1.3800... but POMO on for another 15 min .

GU had an ok down move BUT man was it choppy

Yes, i think most of traders waiting for EUR news and also NFP

did well on that euro long we are talking about on Monday ..150 pip and did well on ES yesterday with POMO of 5 billion injected into the market so tkaing rest of week off.

I'm pleased its not just me that has that sort of luck my SL was at 1.3880, now how accurate was that

when will the EU stop?
its well overdue for a turn down.....
is'nt it?

the USD must be in a world of pain

yes... also euro try to cross from 1.4000

I closed this trade with small profit because usually I add SL to last entrance area price + spread, so, my SL was at 86.