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The Really Useless Thread

  • #8,621
  • Sep 6, 2011 4:16am Sep 6, 2011 4:16am
Quoting cloggie
Up 30, may build on it.

Up 70, all going to plan.
  • #8,622
  • Sep 6, 2011 4:16am Sep 6, 2011 4:16am
Quoting sofia101
mine was 58
Quoting FibbinArchie
4280, but there was massive lag, between my order entry quotes and my third party chart data, which is alpari, so alpari was the laggard...
Quoting Raza
I have 1.4272..

It seems its time to Buy everything!!
Mine 4280!!
  • #8,623
  • Sep 6, 2011 4:17am Sep 6, 2011 4:17am
well I'm flastki on that push, going to take a break...
Look Sharp/Trade Tight
  • #8,624
  • Sep 6, 2011 4:17am Sep 6, 2011 4:17am
for cloggie
Attached Image (click to enlarge)
Click to Enlarge Name: for cloggie.gif Size: 15 KB
  • #8,625
  • Sep 6, 2011 4:18am Sep 6, 2011 4:18am
Quoting fxjawn
for cloggie

You got it, you found the trigger, you found the sentiment and you traded it, simples.
  • #8,626
  • Sep 6, 2011 4:18am Sep 6, 2011 4:18am
Quoting cloggie
They didn't, again, they just set a target. The only time the Franc was properly pegged was Bretton Woods.

The big problem with this 1.20 target is that the rate fluctuations will carry through as inflation and the SNB may come under fire internally. A target will help export, but will hurt domestic spending and inflation.
Very good post. Agree Cloggie.

I see the SNB decision not as long term option but as a preemptive move on a double dip/financial crisis 2 that is closer by the minute. The exports vs inflation will require at least a couple of quarters to show so I take the fix as a very real first step to peg the CHF with the euro if shit hit the fans in the world markets. At least a decision (a good one IMO) not like the FED....

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #8,627
  • Sep 6, 2011 4:19am Sep 6, 2011 4:19am
Quoting kenfen69
How do, mofo?

Pip count definitely up after that...had a couple cheeky plays.

Gotta wonder how many people got wiped out there? If you were scalping, no stops, wrong side...horror!
good to hear , I'll drink to that - sláinte

early finish today i reckon
  • #8,628
  • Sep 6, 2011 4:19am Sep 6, 2011 4:19am
Quoting cloggie
A mechanical peg means giving up independence to the pegged currency, not something that the SNB will do easily. The mass media misuses the term pegging in all their outlets, for 1.20 to hold as a target the SNB will have to spend countless billions. They are fighting the market here trying to keep that 1.20.
Got you, thanks.

Yea a lot of the media is actually using the word peg as I am seeing but DJ didn't actually say peg about EUR/CHF or any of the other sources I use didn't either. But, DJ or UBS said peg about the franc to the DM though in that clip I posted.
  • #8,629
  • Sep 6, 2011 4:23am Sep 6, 2011 4:23am
Quoting cloggie
You got it, you found the trigger, you found the sentiment and you traded it, simples.
yep a lild late but yea...

thanks bro
  • #8,630
  • Sep 6, 2011 4:24am Sep 6, 2011 4:24am
Quoting PayTheLimit
correction, rat bastard...
lol
  • #8,631
  • Sep 6, 2011 4:25am Sep 6, 2011 4:25am
Quoting needpips
Long 4065
had a BE +2 SL...got tripped b4 the party started....well....guess it could have been worse.....I really wish sleep was a opt in scenario
  • #8,632
  • Sep 6, 2011 4:31am Sep 6, 2011 4:31am
sh 4220 ... BE+1...(nutty environment)
  • #8,633
  • Sep 6, 2011 4:32am Sep 6, 2011 4:32am
Quoting Monroe
Got you, thanks.

Yea a lot of the media is actually using the word peg as I am seeing but DJ didn't actually say peg about EUR/CHF or any of the other sources I use didn't either. But, DJ or UBS said peg about the franc to the DM though in that clip I posted.

Back in 78/79 the SNB again set a floor of .8/.9 DEM/CHF, (it drop below the floor for quite a while) the rate actually fluctuated throughout that year and a half and it hurt their domestic spending and inflation, the only thing that saved them was their rates were about 150bps lower then Germany. It was not a true pegging as they actually spend a serious amount of money trying to keep the floor, they did succeed though, but had the benefit of a larger gold reserve back then, 40% of the currency was backed by gold, by law, they did away with the gold reserve in 2000-01 and actually sold of about half their gold holdings.
  • #8,634
  • Sep 6, 2011 4:35am Sep 6, 2011 4:35am
Quoting cloggie
Back in 78/79 the SNB again set a floor of .8/.9 DEM/CHF, (it drop below the floor for quite a while) the rate actually fluctuated throughout that year and a half and it hurt their domestic spending and inflation, the only thing that saved them was their rates were about 150bps lower then Germany. They spend an absolute fortune holding it above the floor, it was not a true pegging as they actually spend a serious amount of money trying to keep the floor, they did succeed though, but had the benefit of a larger gold reserve back then, 40% of the...
man...gold pooped the bed...Swiss selling gold to pay for this little endeavor?
  • #8,635
  • Sep 6, 2011 4:35am Sep 6, 2011 4:35am
Quoting needpips
man...gold pooped the bed...Swiss selling gold to pay for this little endeavor?

NAh, flight to T instead.
  • #8,636
  • Sep 6, 2011 4:36am Sep 6, 2011 4:36am
Quoting cloggie
NAh, flight to T instead.
Ahhhh...
  • #8,637
  • Sep 6, 2011 4:36am Sep 6, 2011 4:36am
I fully expect to see a test of that 1.20 floor, maybe as soon as today, the markets don't take lightly to a CB trying to outplay them. They want to test their resolve. Fairly easy play for the big boys, drive it down, sit back and ride up the SNB move, rinse and repeat. Who has the deepest pockets, the markets of course, you can't outspend the FX market, going to be fun to watch.
  • #8,638
  • Sep 6, 2011 4:38am Sep 6, 2011 4:38am
Quoting cloggie
I fully expect to see a test of that 1.20 floor, maybe as soon as today, the markets don't take lightly to a CB trying to outplay them. They want to test their resolve.
1.20...E/U? ... Today?...
Markets are not Random, they are designed!
  • #8,639
  • Sep 6, 2011 4:39am Sep 6, 2011 4:39am
Quoting Raza
1.20...E/U? ... Today?...

Ec
  • #8,640
  • Sep 6, 2011 4:40am Sep 6, 2011 4:40am
Quoting cloggie
Back in 78/79 the SNB again set a floor of .8/.9 DEM/CHF, (it drop below the floor for quite a while) the rate actually fluctuated throughout that year and a half and it hurt their domestic spending and inflation, the only thing that saved them was their rates were about 150bps lower then Germany. It was not a true pegging as they actually spend a serious amount of money trying to keep the floor, they did succeed though, but had the benefit of a larger gold reserve back then, 40% of the currency was backed by gold, by law, they did away with the...
Cool thanks for knowledge. They will have to spend a serious amount to hold EUR/CHF at 1.2 as well I would think, but they are saying they are serious and will do what it takes, buying unlimited amounts of foreign currencies... which in effect would help the Euro in this case. They still think 1.2 is way overvalued though.
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