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  • #773,841
  • Mar 19, 2013 5:42am Mar 19, 2013 5:42am
Quoting math_GB
Same here, watching 122.90... If it hits of course...
I have daily pivot @ 122.93, and lower BB at 123.01. It might hit a few pips shy from your target.

Of course, the 3-pip difference might be due to extra high margin that your broker wants
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,842
  • Mar 19, 2013 5:43am Mar 19, 2013 5:43am
Quoting Firstboss
I have daily pivot @ 122.93, and lower BB at 123.01. It might hit few pips shy of your target
Of course, it may not even reach there mate, not a significant selling pressure so far...
  • #773,843
  • Mar 19, 2013 5:47am Mar 19, 2013 5:47am
Quoting math_GB
Of course, it may not even reach there mate, not a significant selling pressure so far...
yes, the markets are tight waiting for news to spike on. GBP is doing surprisingly healthy at the moment
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,844
  • Mar 19, 2013 5:47am Mar 19, 2013 5:47am
wtf is this spike up and then sell down...shit
  • #773,845
  • Mar 19, 2013 5:49am Mar 19, 2013 5:49am
Deja vu, PA rubbish due to waiting for politicians. Again
  • #773,846
  • Mar 19, 2013 5:50am Mar 19, 2013 5:50am
Quoting SnaveForex
wtf is this spike up and then sell down...shit
It's a tight range between 1.2918 and 1.2950 - perfect fro catching few pips both ways
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,847
  • Mar 19, 2013 5:51am Mar 19, 2013 5:51am
Quoting Vectamart
How long will it be before the Cypriot government begin fleecing peoples assets other than their bank a/cs?
more interestingly is what will happen when the banks re-open.....

they estimate a 10% withdraw

but we all know how officials tend to under-estimate

you could even see a complete run on the banks especially if the foreign money all gets pulled - but of course it is in cyprus for a reason and they might see the levy as reasonable taxation versus moving it.. either way I would expect more than 10% to move which could start another panic
  • #773,848
  • Mar 19, 2013 5:52am Mar 19, 2013 5:52am
Quoting Firstboss
yes, the markets are tight waiting for news to spike on. GBP is doing surprisingly healthy at the moment
It has done enough bullshit lately. So many people are fooked with it, I guess the only players left there are the ones who kinda know how to deal with it, not an amateur leaugue - profis only - therefore I have no position there
  • #773,849
  • Mar 19, 2013 5:53am Mar 19, 2013 5:53am
I agree this is one bad decision on the bailout of Cyprus, and long-term disaster for the country.
But even EURUSD rally to 1,37 on Greece going even into recession and misery on a daily basis. Markets don't care about it.
"You're solid gold, see you in hell"
  • #773,850
  • Mar 19, 2013 5:56am Mar 19, 2013 5:56am
Quoting MaxDoom
more interestingly is what will happen when the banks re-open.....

they estimate a 10% withdraw

but we all know how officials tend to under-estimate

you could even see a complete run on the banks especially if the foreign money all gets pulled - but of course it is in cyprus for a reason and they might see the levy as reasonable taxation versus moving it.. either way I would expect more than 10% to move which could start another panic
It does seem a very silly idea, Cyprus may be small but its the dangerous precedent that it sets. Despite assurances that Cyprus is a special case you could see depositors in other periphery countries getting very twitchy, I think there will be more than 10% withdrawal rate.

From a trading point of view its just annoying, stupid situation needlessly created by idiot politicians. But, how many times could we say that recently
  • #773,851
  • Mar 19, 2013 5:56am Mar 19, 2013 5:56am
my expectations on EJ
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  • #773,852
  • Mar 19, 2013 5:59am Mar 19, 2013 5:59am
Quoting bennyblanco
From a trading point of view its just annoying, stupid situation needlessly created by idiot politicians. But, how many times could we say that recently
True
"You're solid gold, see you in hell"
  • #773,853
  • Mar 19, 2013 6:04am Mar 19, 2013 6:04am
Well, on Cyprus there are three possibilities, really:

- Rob tax evaders hiding money in Cyprus of 12% of their deposits to finance the bailout;

- Let the EU taxpayers foot the whole bill;

- Let Cyprus default and reward bad investment decisions with a 100% loss (except the small retail customer accounts that are insured)

Taking position in the name of fairness, and adhering the standards of a free market economy I would rather they went with the third option. The same should've been done with Greece - managed default with institutional investors taking the losses
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,854
  • Mar 19, 2013 6:05am Mar 19, 2013 6:05am
Quoting bennyblanco
It does seem a very silly idea, Cyprus may be small but its the dangerous precedent that it sets. Despite assurances that Cyprus is a special case you could see depositors in other periphery countries getting very twitchy, I think there will be more than 10% withdrawal rate.

From a trading point of view its just annoying, stupid situation needlessly created by idiot politicians. But, how many times could we say that recently
I can't help thinking that if the Cypriot government goes ahead with this raid on people's bank accounts and gets away with it, other Eurozone governments will try and copy the idea if they find themselves sinking deeper and deeper into the sh*t.

Is this raid supposed to be limited to individuals' accounts or does it also affect corporate bank accounts?
  • #773,855
  • Mar 19, 2013 6:07am Mar 19, 2013 6:07am
Quoting Vectamart
How long will it be before the Cypriot government begin fleecing peoples assets other than their bank a/cs?
don't leak out next eu country rescue plan
Mohan
  • #773,856
  • Mar 19, 2013 6:07am Mar 19, 2013 6:07am
Quoting MaxDoom
re-join... that would require that Turkey was owned it all eh! now there is a volatile subject
We should stop it Will delete my post, some people might be offended. Apologies in advance...
  • #773,857
  • Mar 19, 2013 6:08am Mar 19, 2013 6:08am
Quoting Firstboss
Well, on Cyprus there are three possibilities, really:
- Rob tax evaders hiding money in Cyprus of 12% of their deposits to finance the bailout;
- Let the EU taxpayers foot the whole bill;
- Let Cyprus default and reward bad investment decisions with a 100% loss (except the small retail customer accounts that are insured)
Taking position in the name of fairness, and adhering the standards of a free market economy I would rather they went with the third option. The same should've been done with Greece - managed default with institutional investors taking the losses

that means the public in other countries given that the banks in other EU countries have all been bailed out
  • #773,858
  • Mar 19, 2013 6:08am Mar 19, 2013 6:08am
short 43.1
Trade What You See Not What You Want To See
  • #773,859
  • Mar 19, 2013 6:14am Mar 19, 2013 6:14am
Quoting MaxDoom
that means the public in other countries given that the banks in other EU countries have all been bailed out
Banks always privatize profits and socialize losses - the usual business for them

Bailing out, nationalizing, bankrupting or liquidating problem banks must be an internal matter for the bank's home country, where the primary concerns are safeguarding retail account balances and keeping confidence in the financial system.
However, bad investment decisions MUST be rewarded with losses up to a complete bankruptcy.
"Luxury is one of the basic needs", (c), Don Corleone
  • #773,860
  • Mar 19, 2013 6:14am Mar 19, 2013 6:14am
Quoting math_GB
It has done enough bullshit lately. So many people are fooked with it, I guess the only players left there are the ones who kinda know how to deal with it, not an amateur leaugue - profis only - therefore I have no position there
It has been tricky recently, I went into a real nosedive with my confidence due to the severity of the run down triggered by Draghi/Italian elections. My broker change has helped me recover, Oanda have higher margin requirements and therefore I'm playing with smaller lot sizes/fewer open trades. S/L's are bigger & I'm not getting stopped as much, account growth is slower but more stable.
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