Pro Swing Trading

Morning,

I hope you had great holiday, tonight we have FOMC and we will back to trade tomorrow, Hope you will have great pips hunting on 2011.

Cheers
Nick

Stock index futures pointed to a lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.5 percent, Dow Jones futures down 0.4 percent and Nasdaq 100 futures down 0.5 percent at 1000 GMT (5 a.m. ET).

European stocks were down 0.7 percent in morning trade, as this week's sharp retreat by commodities prompted investors to take a breather after an almost 2 percent rise in stocks in the first two sessions of the year.

Investors were braced for Portugal's T-bill auction, at which the country was expected to pay almost twice as much as it did in September, keeping it at the forefront of market concerns over the euro zone debt crisis.

Economic data on tap on Wednesday includes the ADP employment report and the ISM non-manufacturing index, both for December. Economists in a Reuters survey expected 100,000 jobs were created versus 93,000 jobs created in November.

Hi

As trading idea Eur/Usd has long setup...

I gave 1.3110-20 for entry area but didn't fill because of only 5-6 pips

Expectations are mounting that the December job report will be strong given a flurry of positive signals this week, economists said on the eve of the report.

Economists are now expecting 175,000 nonfarm jobs created in December, up from 143,000 just a few days ago.

The unemployment rate is expected to remain steady at 9.8%. The Labor Department will release the data at 8:30 a.m. Eastern on Friday, and President Barack Obama will comment on the report from a Maryland manufacturing facility later in the day.

Many analysts lifted their estimates for job gains in the month after a record-breaking 297,000 increase in private sector jobs in December reported Wednesday from payroll firm Automatic Data Processing Inc and Macroeconomic Advisers.

http://ei.marketwatch.com/Multimedia...5083854_MD.jpg

although i was not going to trade until 17th jan, i took the last EU long trade.

got pretty hairy at times, i just got out with 18 pips profit on that one, dont ask me why, i just did not have much faith in the EURO at the time..

ok ok
now NO TRADING UNTIL 17th for me!

market is still flat to me, want to wait until the banks and fund managers are back at thier platforms!

The European Central Bank threw Portugal a temporary lifeline on Monday by buying up its bonds, traders said, as market and peer pressure mounted for Lisbon to seek an international bailout soon.

A senior euro zone source told Reuters on Sunday that Germany, France and other euro zone countries were pushing Portugal to seek an EU-IMF assistance program, following Greece and Ireland, in a bid to prevent contagion spreading to much larger Spain, the fourth biggest economy in the euro area.

The interest rate premium on Portuguese sovereign debt fell on Monday after rising sharply late last week as traders said the ECB intervened to buy government bonds on the secondary market.

Hi,

A/U hit both targets.

Nice one mate.)

Good job on the AUDUSD mate.

Thanks brother. we started our engines for 2011, lets bounce it

Took full lot on second TP. Super call from Nick. Woke up this morning with profit. Keep it rolling Nick!

Goldman Sachs Group Inc pledged to be more open about how it makes money and to put the interests of clients ahead of its own in an effort to rebut criticism it acted more like a hedge fund than a bank during the credit boom and misled investors.

Goldman revealed for the first time how much it made from trading and investing on its own behalf, which many investors have suspected is a key source of the bank's profits, during the first three quarters of the year.

The bank also made structural changes to its divisions, but there was no major management shake-up, leaving in place Chief Executive Lloyd Blankfein.

Blankfein and his firm came under siege last April after U.S. securities regulators sued Goldman and bond trader Fabrice Tourre for selling repackaged mortgage bonds to investors without disclosing key information about the securities.

Tourre referred to himself as "fabulous Fab" and to a collateralized debt obligation product he helped create as "a little like Frankenstein turning against his own inventor." To many critics of Goldman, he embodied the firm's willingness to put its own interests ahead of clients.

Soon after the SEC lawsuit, Goldman commissioned a report to determine how it should change the way it does business.

The report, released on Tuesday, recommends creating at least three internal committees and focuses mainly on disclosure and oversight. It makes few recommendations for how Goldman will change the way it does business day to day and some observers questioned how much will change.

"I'm not terribly convinced it produces a new culture," said Cornelius Hurley, a professor and director of Boston University's Morin Center for Banking and Financial Law. "It seems to be part of their concerted public relations effort."

Still, Goldman did shed new light on the heretofore murky realm of proprietary trading profits, revealing that its investment and lending group -- which includes the bank's bets with its own money -- accounted for nearly 30 percent of pre-tax earnings in the first three quarters of 2010.

And Goldman's disclosure overhaul could boost pressure on rivals to follow suit, especially after the sweeping Dodd Frank financial reform bill shone a spotlight on the propensity of big Wall Street firms to make risky bets with their own capital.

"I think other banks will follow Goldman on this," said Brad Hintz, investment banking analyst at Sanford C. Bernstein in New York. "They may not want to admit it, but this kind of disclosure puts pressure on other boards to act."

The report came even as other major banks express eagerness to put the financial meltdown of 2008 behind them. Barclays Plc's new boss, Bob Diamond, said on Tuesday that banks should stop apologizing for the mistakes that helped cause the crisis.

The 63-page report prepared by a committee led by executive and former Federal Reserve Bank of New York president Gerald Corrigan and by Michael Evans, a vice chairman of the company, details 39 plans for how it will change after years of investor accusations its financial statements are opaque and client complaints about conflicts of interest.

Goldman agreed in July to pay $550 million to settle the SEC lawsuit. The SEC accused the bank of creating and selling collateralized debt obligations linked to subprime mortgages without telling investors hedge fund Paulson & Co helped choose and bet against the debt. The settlement was one of the biggest arising from the U.S. housing and credit crises.

As part of Goldman's settlement, the investment bank agreed to require two internal committees to review mortgage bond deals to make sure marketing materials describe necessary facts to investors.

Hi,

Australia's unemployment rate decreased by 0.2 percentage points, to 5.0%, in December, the Australian Bureau of Statistics reported Thursday. The number of employed rose 2,300 to 11.4 million on a seasonally adjusted basis, with full-time employed up 1,700 to 8.034 million and part-time employed up 600 to 3.383 million. The amount of unemployed people decreased by 25,400 to 598,700 in December. Labor-force participation reached 65.8% in December, down 0.2 percentage points from November,

Hi,

As trading idea looking for short on EUR/USD.

Looks as if the E/U took a sharp move of nearly 300 pips since Asia, that is extreme for this pair, and to me shorts would be coming into the market, I had a 3391 limit order in from this morning, but it missed picking me up by just 10 pips.

Let me know what your seeing.

Cheers, Ken

Hi Ken,

Thanks for your reply, For me around 1.3395-85 is entry area i will wait until London to see how PA going...

Cheers
Nick

What hapend to that trade? Was it triggered or removed before it?

Forget about this post already got an answer