Pro Swing Trading

i've made a mistake!!!

it was SILVER not GOLD

even if it was silver it was just few pips to hit TP2!

Great Call on EU , Again!!! Thanks FXAdvice !!!

I have a question on how you calculate the results on the performance page on your web site.

I know you use two targets for your trade T1 and T2.

Let's say a trade only hits it's first target of 40 pips and the other part ends in break even.

Do you calculate this is a +40 pips on your performance page?

If the trade is a losing trade with -40 pips. Do you record this as -40 pips or -40 pips x 2 as you actually opens two trades.

The reason why I am asking is that if you have a losing trade of -40 pips and a trade that hits it's first Target and the rest ends in Breakeven you calculate this as -40 and +40 pips = 0 pips but on your account you have lost 1 lot of 40 pips = -$400 and only won ½ lot of 40 pips = +$200 and you are still down despite it's been showed as 0 pips on the performance page.

When that is said it looks like you get some pretty nice results

Hi,

First of all I don't open 2 positions in same time. I try to take position and manage the risk and trades base on my account conditions...

Morgan Stanley reported a surprising third-quarter loss, suggesting the bank is losing hard-won ground in the battle with Goldman Sachs for Wall Street supremacy.

The firm's $91 million loss, on weak volumes during one of the most difficult trading quarters in recent memory, came a day after Goldman overcame those same conditions to beat Street estimates with a $1.9 billion profit.

Morgan Stanley shares fell 3.5 percent in morning trading.

"Morgan Stanley is a caterpillar in metamorphosis. It's either going to turn into a beautiful butterfly or get eaten by a robin," said Brad Hintz, an analyst with Sanford C. Bernstein.

"You could look ahead and say I'm going to like the future Morgan better than I'm going to like the future Goldman, but you're still going to have a period that's pretty rough on the stock."

Morgan Stanley has been playing catch-up with its arch-rival since the financial crisis. In 2009, Goldman cashed in on windfall trading opportunities to report a record annual profit, while Morgan Stanley, which scaled back risk, reported a loss.

The leading investment banks have gone in different directions since the financial crisis: Morgan Stanley has rebalanced its business to include the largest retail brokerage, while Goldman has stuck to its banking and trading roots.

Analysts say Morgan Stanley still has more work ahead in that transition -- and it will never beat Goldman on traditional trading.

"Morgan Stanley has done an adequate job in these terrible markets of not performing very badly. But when you're competing against Goldman Sachs and there's a contrast, most times you're going to look bad, and this is one of those times," said Mike Holland, founder of Holland & Co in New York, which oversees more than $4 billion of assets.

NOT PROUD

Morgan Stanley knows it has work to do to catch up to Goldman in fixed income trading, which powered the banking industry's rebound from the financial crisis.

Morgan Stanley Chief Financial Officer Ruth Porat said the bank's efforts to rebuild its fixed income trading ranks have further to go, and it remains outnumbered by its peers.

Third-quarter fixed income net revenue was down by more than half from a year earlier.

"We have repeatedly said that fixed income is the area we need to build up," Porat told Reuters in an interview.

She said third-quarter results were hurt by the accounting ramifications of improvements in the bank's debt prices, but added that the trading results "were nothing to be proud about."

very good second part of this month!



market is crazy, but we getting nice results. keep them , Nick!

Agreed with you! This week market is a bit volatile, we managed to hit our FTP for all trades this week. We just a bit unfortunate for not hitting our STP, the price just simply went back to our entry zone or hit SL at BE point.

My weekly summary:
Missed UCAD trade on monday for 1 pips from entry (damn broker!)
40 pips on EUR trade on monday

40 pips on GU trade on tuesday. (Nick report 20 pips on his website)

40 pips on UCAD trade on wednesday.

Yup, we did not hit our 2nd TP for all of our trade, but most importantly, we'd a positive trade and 100% win so far for this week. Hoping the best for our trades ahead.

Great call nick!

will reach TP2??

http://img530.imageshack.us/img530/4849/222uj.th.gif

Hi,

The dollar turned up slightly versus a basket of currencies on Thursday after the euro gave up the bulk of earlier gains and the British pound headed back towards the lows of the day

The greenback had been under pressure earlier as a trio of economic reports from the U.S. and data out of Europe seemed to bolstered the case for the Federal Reserve to ease monetary policy by buying bonds.

Europe’s shared currency jumped after economic data about the private sector, with stronger-than-expected national PMI data for Germany trumping a drop for the euro-zone PMI overall, said Geoffrey Yu, strategist at UBS.

Hi bro,

I guess 1.0290- 1.0300 is possible target.

closed at 1.0364

I guess you meant 1.0264

Yes yes :-D

Loonie reached as i expected

The United States struggled on Friday to win backing for its proposal of setting numerical targets for external imbalances as a way of pressing surplus countries such as China to let their exchange rates rise.

In a letter to fellow finance ministers of the Group of 20 leading economies, U.S. Treasury Secretary Timothy Geithner said countries should implement policies to reduce their current account imbalances below a specified share of national output.

Diplomats said the Treasury chief was proposing to limit surpluses and deficits on the current account -- the broadest measure of trade in goods and services -- to 4 percent of gross domestic product.

But Geithner's proposal met a cool reception on the first day of a two-day meeting meant to smooth the path for a G20 summit in Seoul on November 11-12.

German Economy Minister Rainer Bruederle warned of falling back into "planned economy thinking," while Russian Deputy Finance Minister Dmitry Pankin said the draft communiqué to be issued on Saturday would stay clear of numerical targets.

"The communiqué is very politically correct. There's nothing sharp in it," Pankin said. "In the long term the focus should be on the exchange rates reflecting market conditions. Excessive state interference in currencies should be avoided."

DOUBTS ABOUND

Japanese Finance Minister Yoshihiko Noda also voiced skepticism about Geithner's proposal.

"We said that we doubt whether rigid numerical targets should be set. But when checking the progress in rectifying imbalances, that might be an idea," he told reporters.

The criticism underscored the difficulties facing the G20 as it strives to put the world economy on a more stable footing and defuse currency tensions that economists fear could trigger trade wars.

While the G20 won praise for coordination of stimulus packages during the global financial crisis, its unity has been tested by low growth in rich countries and various attempts by emerging market economies to preserve their export competitiveness by holding down their exchange rates.

India and Russia are running substantial current account surpluses, but China is the chief culprit in Washington's eyes -- and the unspoken target of Geithner's letter -- because of its massive currency market intervention to keep a lid on the yuan.

Beijing has amassed $2.65 trillion in official currency reserves as a consequence and has prompted the U.S. House of Representatives to pass a bill threatening retaliation unless China lets its currency off the leash to reduce its huge trade surplus with the United States.

G20 countries, Geithner said, "should commit to refrain from exchange rate policies designed to achieve competitive advantage by either weakening their currency or preventing the appreciation of an undervalued currency."

:nerd: Closed at 1.0295

Yep Thx Nick for another excellent week totalled around the 140pip mark from your signals which is excellent. Shame about the volatility but then again we've had more speakers this last 2 weeks than i had in my ford fiesta when i was 17.
If one of em farted in the wrong direction the market went off at a tangent.
Heres to next week bud.

Morning,

I hope you had great weekend, USD this week started with loss ground! but during London session going sideway... I will waiting for NY session maybe new action will happen.

Cheers
Nick

The Federal Reserve cannot "wave a magic wand" to fix the economy overnight, but it can provide "essential" support, a top Fed policymaker said on Monday.

Indeed, support will likely be warranted unless economic conditions improve, William Dudley, president of the New York Fed and a permanent voter on the Fed's policy-setting panel, said in a speech at Cornell University.

His comments underline market expectations that the Fed will buy more long-term assets at its next policy-setting meeting on Nov 2-3 to try to revive the economic recovery.

The U.S. central bank cut interest rates to near zero and bought $1.7 trillion in mortgage-related and Treasury debt to try to boost the economy during the global financial crisis.

However, a Fed colleague known for steady opposition to easy monetary polices said further easing would be a "dangerous gamble" that could set in motion another wrenching boom and bust cycle.

"There are real risks to quantitative easing," Kansas City Federal Reserve Bank President Thomas Hoenig said in Lawrence, Kansas, referring to extensive asset purchases by the Fed to push borrowing costs lower even though short-term rates are near zero.

Hoenig acknowledged he held a minority view on the Fed. He has used his voting status this year to dissent six times against Fed policies aimed at supporting the recovery.

Dudley, who has been among Fed officials making the case for monetary easing, said the road to full recovery is likely to be "long and bumpy." Momentum is slowing, he said.

"The Fed cannot wave a magic wand and make the problems remaining from the preceding period of excess vanish immediately," Dudley said. "But we can provide essential support for the needed adjustments."

Dudley repeated his view that high unemployment and low inflation were inconsistent with the Fed's mandate to maintain price stability and maximum employment.

"I said that I thought further Fed action was likely warranted unless the economic outlook were to evolve in a way that made me more confident we would see better outcomes for both employment and inflation before too long."

Hoenig, for his part, restated his belief that ultra low interest rates and a more than doubling of the Fed's balance sheet from pre-crisis levels risks creating asset bubbles and sets the stage for another crisis.

INFLATION RISK

Although critics argue further support for the economy could prove inflationary, a former Fed chairman known for his inflation fighting commitment said inflation is unlikely to be a problem for years. Paul Volcker added he does not see the risk of a damaging spell of falling prices.

"Inflation is not a problem right now. It won't be a problem next year, it won't be a problem for several years," said Volcker, who is now chairman of the Obama administration's Economic Recovery Board, in Boston.

Morning,

EUR/USD already between two lines (1.3825-1.3770) any break on these lines will start upward or downward moves...

Cheers
Nick