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  • #2,501
  • Dec 1, 2010 11:21pm Dec 1, 2010 11:21pm
As we get closer to NFP announcement charts are getting more difficult to analyze. I don't see anything worth trading yet.
  • #2,502
  • Dec 1, 2010 11:23pm Dec 1, 2010 11:23pm
Quoting stratman
As we get closer to NFP announcement charts are getting more difficult to analyze. I don't see anything worth trading yet.
Maybe EU,GU and GJ all have very small ranges during asian session. EJ maybe has support at 110?
  • #2,503
  • Dec 2, 2010 2:10am Dec 2, 2010 2:10am
Very slow grind ... entered a trade on GU. Entry based on pull-back to sma's and then break of trend-line. Confirmed by $index falling.

Exit based on $index hitting round number that was also previous SR line. News about to hit as well.

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  • #2,504
  • Dec 2, 2010 2:22am Dec 2, 2010 2:22am
Today is very choppy. I think I did well to get 1.5% out of the market when I did. Next news is in 1 hour ... my bed time. I'm going to call it a day.
  • #2,505
  • Dec 2, 2010 2:50am Dec 2, 2010 2:50am
good night Rob.. have a good sleep . Yes very choppy atm.. not trading just watching a bit of TV.. nice to relax a bit.cheers. jean
  • #2,506
  • Dec 2, 2010 7:51pm Dec 2, 2010 7:51pm
Good SR band for $index

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  • #2,507
  • Dec 2, 2010 8:05pm Dec 2, 2010 8:05pm
hi stratman,

what is the purpose of this in the bigger context?

how can we use this in forex?


thank you,
  • #2,508
  • Dec 2, 2010 10:47pm Dec 2, 2010 10:47pm
It is the BIGGER context, that is why

See here http://en.wikipedia.org/wiki/U.S._Dollar_Index

and here http://www.fxstreet.com/rates-charts/usdollar-index/

and here http://www.wikinvest.com/currency/U.S._Dollar_(USD)

Basically, it is important because = 85% of all currency transactions across the world involve the US dollar. It is the world's primary reserve currency and 25 different currencies are pegged to the US dollar.
Canadian by birth Australian by choice
  • #2,509
  • Dec 3, 2010 1:01am Dec 3, 2010 1:01am
ts,

thank you for that reply. i read some of those links that you sent me. so what is the correlation? if the usd index goes down do other currencies go up?

thank you,
  • #2,510
  • Dec 3, 2010 2:44pm Dec 3, 2010 2:44pm
SAM... i don't want to sound pedantic here, but there is a minimum y0u need to
know before trading FOREX. And the correlation USD INDEX and other currencies/OIL/GOLD etc is very important before entering a trade. Please do your own research... Cheers.
Jean
  • #2,511
  • Dec 3, 2010 4:14pm Dec 3, 2010 4:14pm
It's been quite rare for me to have losing trades lately so thought I would post this. As you can see, I was 24 pips in profit (my daily target) but I decided to leave it on the table with NFP being announced later. Greed obviously kicking in .

I went to bed just after I took this first picture and woke up to the second picture. Moral of the story: Don't be greedy and take what the market gives you

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  • #2,512
  • Dec 3, 2010 4:21pm Dec 3, 2010 4:21pm
if the $index is rising then currencies like GBPUSD and EURUSD will generally be falling and USDJPY rising.

This is because the $index is made from all these currencies. Search google for the fomula and it will be clear.


Quoting samk090905
hi stratman,

what is the purpose of this in the bigger context?

how can we use this in forex?


thank you,
  • #2,513
  • Dec 4, 2010 12:35pm Dec 4, 2010 12:35pm
not only do you sound pedantic; but, your input is senseless. my question was geared for a brief response to a specific question which called for a simple answer (as stratman pointed out--thank you) which you failed to recognize; which coincidentally, made you actually "sound" what you didn't want to. like others, if you do not feel like like answering a particular question, please refrain from answering with such a broad brush. bet yet, abstain from answering at all.




Quoting Froggy10
SAM... i don't want to sound pedantic here, but there is a minimum y0u need to
know before trading FOREX. And the correlation USD INDEX and other currencies/OIL/GOLD etc is very important before entering a trade. Please do your own research... Cheers.
Jean
  • #2,514
  • Dec 4, 2010 12:38pm Dec 4, 2010 12:38pm
thank you for your answer.

Quoting stratman
if the $index is rising then currencies like GBPUSD and EURUSD will generally be falling and USDJPY rising.

This is because the $index is made from all these currencies. Search google for the fomula and it will be clear.
  • #2,515
  • Dec 6, 2010 3:41pm Dec 6, 2010 3:41pm
I find the dollar index very useful ... as it has quite easily identified support and resistance ... typically at the roundish numbers of the chart I watch. I particularly like the H1 eg

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  • #2,516
  • Dec 6, 2010 3:55pm Dec 6, 2010 3:55pm
Didn't place any trades last session. I was upgrading my router, firewall, proxy and content filtering systems.

For anyone interested ...

I run an old server I picked up 2nd hand. It has 2 x 30GB hard drives and 2 network interfaces.

I installed vmware esxi server 3.5 (server is only 32 bit processor so can't run version 4)

I installed two linux virtual machines (proxy and firewall) configured as follows:

lan interface -> proxy -> firewall -> wan interface

The proxy vm has linux ubuntu server (10.10) with squid 2.7 (proxy) and dansguardian 2.10.1.1 (content filter).

The firewall is pfsense installed into FreeBSD.

The only piece of software I purchased was 'videocache' to cache youtube videos ie when a video is watched once, it is available again later from my proxy server.
  • #2,517
  • Dec 6, 2010 3:57pm Dec 6, 2010 3:57pm
so could i infer, the currencies that are highly correlated with the index will move in the same fashion as the index? meaning the currency will stall where the index stalls?

which "moves" first? the index or the currency?


thank you,
Quoting stratman
I find the dollar index very useful ... as it has quite easily identified support and resistance ... typically at the roundish numbers of the chart I watch. I particularly like the H1 eg

Attachment
  • #2,518
  • Dec 6, 2010 3:57pm Dec 6, 2010 3:57pm
Quoting stratman
I find the dollar index very useful ... as it has quite easily identified support and resistance ... typically at the roundish numbers of the chart I watch. I particularly like the H1 eg

Attachment
Take another look at my last $index post ... note the 80.00 round number ie how strong the SR is
  • #2,519
  • Dec 6, 2010 4:09pm Dec 6, 2010 4:09pm
Quoting stratman
Didn't place any trades last session. I was upgrading my router, firewall, proxy and content filtering systems.
Here's the layout of what I set up in case any of you have the desire to protect your systems in a similar way ...

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  • #2,520
  • Dec 6, 2010 4:18pm Dec 6, 2010 4:18pm
In New Zealand, internet bandwidth is quite expensive. The largest contributor for me is 7 pcs that need to regularly get windows updates. It's even worse as I run vmware virtual machines as well. I could have as many as 15 computers all wanting updates.

A great solution is to have one computer that gets the updates once on behalf of all the other computers. I'm setting that up today ... it's a microsoft product and it's FREE!

http://www.infoworld.com/t/platforms...ate-server-445
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