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You can but only if you do so flawlessly.
It's much better to trade with half your funds.
Precise entry is essential to profitably trading in forex.
I can't tell you how many times I was right about a reversal but was slightly wrong about the entry.
Ten pips can make or break you here.
It means the company is paying employees with stock because they have no money... Or atleast very little money.
No settlement rules, no day trading rules, no limits of that kind at all.
Trade as fast as you want, as much as you want.
Trade long or short without restriction.
Welcome to the board.
Welcome to all the new traders.
Welcome to a much larger much more reasoned world of trading.
Focus on the techs and make sure the fundamentals are not in your blind spot.
Whether you like to trade with the trend or if you're like me and a counter trend player, keep an eye on the larger trend.
Most important of all is learn to time entries perfectly, 50:1, 100:1. And especially 200:1 margin allows for no timing mistakes.
Enjoy the board and the refreshingly honest and learning condusive atmosphere.
Good luck and good trading.
The market actually starts at 2:30 on Sunday.
Most brokers won't let you trade till 5:30 because the volume is nearly nonexsistient.
Forex.com used to open early untill about a year ago for this very reason.
Handy too, I have it bookmarked on my blackberry as it's an easy way to get a quick look at the market while I'm at the office.
Yes it is.
Phe...
How pedestrian.
I don't care how much imported beer costs.
I'm not drinking that bubbly water they call Budweiser.
Thought I heard a murmmer about another rate cut down the pike.
That might play into it as well.
Depending on the next while it will be interesting.
If we see a consolidation then you can pretty much bet on a continuation.
If we see higher highs in the short term to mid term then you can bank on a pretty hefty reversal.
My thinking is the RSI needs to be in the 90's for there to be a reversal.
Also the MACD is still too wishy washy.
I don't know that I agree.
RSI isn't quite high enough to suggest a large downside move.
You had a good point with the visa mastercard thing.
They will make it a win win for Canada and Mexico simply because of our world leading reputation...
We will demand them because of their oil.. number one.
Both have oil... Canada has it in Alberta in sand.
Mexico has it.. wherever.. never lived there.. just know they have it.
Iran gets the same treatment we gave Iraq... meaning we're there and "winning".
They just can't produce oil.
Oil prices go up and one side.. either one.. whichever isn't in power..democrats or republicans whines all day every day about oil dependency.
Viola.. here comes new discoveries in Mexico and Canada.. new technologies to remove the oil from the sand in Canada..
New diplomacy to allow Mexico to transport pumped oil to us directly...
And bamm.. the SPP turns into something much bigger.
Untill the Amero...
My direction of this board, while seemingly minute, is not whimsical.
My focus as of late on political issues has been for good cause.
The U.S. knows it cannot compete monetarily against a united europe.
How can our government convince us to demand a unified currency with Mexico and Canada?
One of the things that sets this board apart from many of the other forex boards is most if not all of us are former or recovering penny traders...
WE KNOW SCAMS...
Short the buck...
Watch the weekly and the monthlies...
Short the hell out of it when you find a top.
AP
Fed Pumps $41B Into US Financial System
Thursday November 1, 5:15 pm ET
By Jeannine Aversa, AP Economics Writer
Fed Injects $41 Billion Into US Financial System to Help Ease Credit Problems
WASHINGTON (AP) -- The Federal Reserve pumped $41 billion into the U.S. financial system Thursday, the largest cash infusion since September 2001, to help companies get through a credit crunch.
The action came one day after Fed Chairman Ben Bernanke and all but one of his central bank colleagues voted to slice a key interest rate. It was the second time in six weeks that policymakers acted to protect the economy from the effects of the housing downturn and credit troubles.
http://biz.yahoo.com/ap/071101/fed_markets.html?.v=2
This means the buck goes lower... much lower.
Near term?... dunno
Long term?
YUP
Some time ago...
before I found or even adored forex I wondered why pennies got away with the dilution game...
Now I know.
They are but pupils of a corrupt governing body.
All speculation based on US aggression in the mid east.
If we go into Iran it will have the same effect on their oil exports as it did on Iraq's...
Really I don't see us avoiding full scale action in Iran so then I obviously think oil will sky rocket... and clearly I don't agree with the story.
Take Iran and the US' actions and suspected future actions out of the equation and yes there is no fundamental reason for $100/barrel oil.
Yup thought it was a tad over the top as well.
No way in hell they can predict anything a year out... much less five years.
Especially from a russian source.
U.S. economy may be in crisis for next five years, expert says
25.10.2007 Source: Pravda.Ru URL: http://english.pravda.ru/world/americas/99507-usa_economy-0
The United States is unlikely to have the best investment environment in the next five years, according to Evgeni Nadorchin, a chief economist at Trust bank. Bigness.ru requested Nadorshin to comment on recent developments in the U.S. securities market.
The last week brought sad news for the White House. To begin with, Japanese companies agreed to make payments in yens for Iran’s crude imports last Tuesday. The Japanese had previously paid for Iranian oil in the U.S. dollar. In fact, Iran had earlier signed an agreement on the yen payments for its crude exports with a number of small-sized Japanese refineries. Two leading Japanese oil exporters of Iranian crude joined the agreement last Tuesday. Japan is one of the world’s major oil exporters. The country has sent a clear message to the global oil market by switching to the yen in its payments for Iran’s oil.
“The dollar isn’t a convenient currency for Iran’s oil receipts for political reasons. The dollar payments for oil are made via correspondent accounts at U.S. banks,” Nadorshin said, in an interview to Bigness.ru. “Keeping in mind that Iran is listed by the U.S. government among the countries of the “axis of evil,” the U.S. government is not only aware of those accounts, it can control them. The U.S. government even blocked certain accounts in the past,” Nadorshin added. From the technical point of view, it would be more difficult for the United States to block such accounts in a Japanese bank.
A mere 15 percent of Iran’s oil income is now being paid in the dollar. The biggest part of Iran’s income (65 percent) from crude exports is in euros. The yen payments account for 15 percent of Iran’s oil income.
Another of the last week’s unpleasant surprise for the dollar economy was of Asian origin. According to data released by the U.S. Treasury last Tuesday, the region’s major economies, namely, Japan, China and Taiwan unloaded some of U.S. Treasury bonds from their foreign reserves. The amount of U.S. Treasury bonds shed by the three countries totals $52 billions.
Compared with the countries’ aggregate amount of foreign reserves, which are worth trillions of dollars, the above sum is fairly small. However, the fact is of importance: Japan, China and Taiwan cut their investments in U.S. Treasure bonds to a record low in the last five years.
The United States have expressed concern about the move since the above three economies plus Hong Kong and South Korea account for 51 percent ($1.14 trillion) of the total amount of foreign investments in U.S. Treasury bonds.
Tougher times could be in store for the U.S. Treasury following all those developments if the government fails to curb inflation, according to Mark Ostwald, an analyst at Insigner de Beaufort.
“The Asian banks didn’t plan shedding their dollar reserves completely,” Nadorshin said in his interview to Bigness.ru. He stressed the point that $52 billion is a drop in the water for the countries “whose combined foreign reserves exceed two trillion U.S. dollars.” The move falls into the trend of the last several years i.e. the dollar proportion of foreign reserves is on the decrease.
Nadorshin reminded that U.S. Treasury bonds were traditionally considered gilt-edged securities.
However, now investors are concerned about the fact that they bought assets in a currency that is growing increasingly weaker. Besides, the U.S. economy may be heading for a recession.
The unloading of dollar assets was inevitable. On the contrary, the last several weeks have seen an inflow of $11 billion to investment funds that put money in the developing markets e.g. Russia.
Speaking of the negative impact on the U.S. economy in the wake of the events that occurred last week, Nadorshin argued that they might indicate a long-term economic crisis the global superpower is currently going through. “The U.S. economy has been showing its weakness throughout the year. It’s a weakness that prevents the economy from keeping the dollar strong against other currencies as the main unit of account. The economy has to tackle a number of issues including deficits and structural issues. The economic measures proved to be ineffective in resolving any of those issues. The country recently experienced a suprime mortgage crisis that will probably help them resolve the issues, which they tried to resolve by increasing interest rates,” Nadorshin said in his interview to Bigness.ru
avp is the only two executables running for Kapersky on my system.
Yeah I got rid of Norton for that very reason.
Do a cntrl+alt+del and look at all the norton programs running and all the memory they're using... crazy.
Anything with symantec in it is norton... should be seven or eight running.
Kapersky is better.
Uses alot less system resources and just as strong.
Bank of the South to rival IMF and World Bank
16.10.2007 Source: URL: http://english.pravda.ru/business/finance/98884-bank_south-0
Venezuela's leftist government is leading Brazil, Argentina and other regional economies in creating a new bank with the ambition of casting off unwelcome oversight by the IMF and World Bank.
The idea was first announced by Venezuela's President Hugo Chavez last December as part of his crusade against US influence and international financial institutions that he says are merely "tools of Washington."
The finance and economy ministers of Argentina, Bolivia, Brazil, Ecuador, Paraguay, Uruguay and Venezuela met last week in Rio de Janeiro to outline the main elements of the "Banco del Sur" -- or Bank of the South.
The lender will provide "a new financial architecture" for development in the region, according to the seven backers, whose initiative comes just ahead of annual meetings of the IMF and World Bank this weekend.
"There will not be credit subjected to economic policies. There will not be credit that produces a calamity for our people and as a result, it will not be a tool of domination," said Venezuelan Finance Minister Rodrigo Cabeza.
Chavez speaks of liberating regional countries from the tutelage of the IMF, the World Bank and the Washington-based Inter-American Development Bank (IDB) which, he argues, impose economic policies that condemn millions to poverty.
Bolstered by robust economic growth, Latin American countries are displaying a new assertiveness toward the IMF now that several of them -- notably Brazil and Argentina -- have paid off their debts early.
The new bank enjoys backing from Brazilian President Lula Inacio Lula da Silva, who despite his leftist profile has overseen an economic policy marked by fiscal restraint and growing reserves since coming to power in 2003.
But South America's economic giant declined to give its agreement until clarifying that the bank's role would be limited to aiding investment in the region.
"Brazil shows less interest because it has the greatest credit capacity," said the country's finance minister, Guido Mantega.
However, "we continue to support the project because it will benefit our commercial partners and Brazilian businesses," he added.
The Bank of the South is supposed to finance public and private projects for development and regional integration. The official launch and the signing of a founding charter is set for November 3 in Caracas, which will host the bank's headquarters.
With seven billion dollars in capital, the Bank of the South will begin operating in 2008.
"The idea is to rely on a development agency for us, led by us," Cabeza said.
The seven founders hope to secure the membership of five other countries: Chile, Colombia, Peru, Guyana and Suriname.
Colombian President Alvaro Uribe said Friday on the margins of a summit with Chavez that his country wanted to join the Bank of the South, as long as it was "not a rejection of the World Bank and the International Monetary Fund but an expression of solidarity and brotherhood."
In 2006, the World Bank and the IDB allocated six billion dollars in credit for the region, according to Interamerican Dialogue, based in Washington.
US Treasury 'ignores' dollar
19.10.2007 Source: URL: http://english.pravda.ru/business/finance/99163-us_treasury-0
The U.S. government's adherence to the "strong-dollar" mantra, even as the currency plumbs record lows against the euro, has made markets skeptical that a finger will be lifted to stop a broad decline.
In all likelihood, the U.S. Treasury will not step in to save the dollar any time soon and the Bush administration may be the first since the gold standard was dropped in 1971 to not intervene in the currency market. In fact, the Treasury has not stepped into the currency market since September 2000, when it helped prop up the euro.
But the intention of the strong-dollar policy may be changing under current U.S. Treasury Secretary Henry Paulson to refer to the dollar's dominant role as a reserve currency and its significant place in an increasingly global marketplace.
On the eve of a Group of Seven rich nations meeting, the dollar dropped to an all-time low against a basket of major currencies, pushing the euro above $1.43 for the first time ever -- about 48 hours after Paulson reiterated that a strong dollar is in the interest of the United States.
After weakening 8 percent in 2006, the dollar has fallen another 7 percent so far this year, mostly because of expectations that the Federal Reserve will have to lower borrowing costs further to stave off an economic recession.
On the one hand, the dollar's downward march seems in line with one of Paulson's oft-repeated phrases: that exchange rates should be set in competitive markets based on fundamentals.
So, if the U.S. economy is showing signs of weakness, particularly because of its ailing housing sector, then the greenback should weaken relative to other currencies with more stable economies.
However, the insistence on saying a strong dollar is best for the U.S. economy -- when it is falling -- leaves many market participants scratching their heads.
"I think we have an ignore-the-dollar policy," said Leo Melamed, chairman emeritus of the Chicago Mercantile Exchange, Reuters reports.
"It's laughable to say we have a strong-dollar policy," said Melamed, who founded the world's first market for financial futures. "When you have a current account deficit like we do, an interest rate factor that is moving downward, and the credit problems that the United States has, it really is difficult to say we have a strong-dollar policy," he said.
The US dollar surrendered more ground to major currencies in afternoon trading in Asia on Friday as investors moved into safer, low-yielding assets amid growing fears the sub-prime mortgage crisis is far from over.
The greenback dived to near-record lows against the euro and the lowest level in nearly three weeks against the yen after the Bank of America (NYSE:BAC) , the largest deposit bank in the US, reported a 32 percent fall in third-quarter earnings due to credit market write-downs and loan losses. The report fuelled concerns about the outlook for the US economy.
At 4.35 pm (0635 GMT), the US dollar was buying 115.005 yen compared with 115.57 yen in midmorning Sydney trade and 115.60 yen in late New York trade. The euro was up at 1.4296 US dollars from 1.4293 US dollars in Sydney and 1.4290 US dollars in New York.
The release of Bank of America's disappointing third-quarter result coincided with stronger-than-expected new weekly jobless claims which together increased the likelihood of the Federal Reserve cutting interest rates at its meeting on October 31. A lower interest rate will drain support for the greenback.
''The weak data following a week of increasing concerns over the state of the US economy stated by US officials and renewed credit market concerns has the Fed Funds futures pricing in a 70 percent chance of a Fed rate cut at their meeting on October 31. That is up from just over 30 percent earlier in the week,'' said John Noonan, an analyst at Thomson IFR.
The dollar could fall further after the conclusion of the G7 meeting of finance ministers in Washington on Friday. Currency traders expect the ministers to focus on increasing the value of the Chinese yuan rather than searching for ways to reverse the sustained weakness in the dollar, cnn.com reports.
Interesting...
I'm not sure how the system will ever get better without getting rid of the central bank.
It's just too much power centralized.
This country was supposed to be a free market system... and it would work a hell of alot better if it actually was.
The dollar should be based on gold and not based on it's fractional worth in relation to the total number of $'s the fed has pumped into the system.
This is the same damned thing as a diluting penny stock.
The only difference is atleast we can short the hell out of this one.
Tell ya what.
I've been a die hard conservative since birth.
Started listening to Rush when I was 18 and so on.
But the many revelations that I've endured in the last five years have led me to a place where I've realized it's all a scam.
Politicians are all playing a good cop bad cop routine with us...
I have no problem with both sides being posted and I have no problem with discussions about both on this board as I truly feel it helps us as traders.
If you know the scam you can predict the scam
Nostinc hasn't bailed.. just taking a breather...
We are all adorable... he can't stay away for long.
Yeah it's a good idea... and absolutely what we should be doing...
But you and I know that is nothing like what we're doing.
We haven't helped the first up and coming economy.
Our help has more strings than help.
Discussing the reasons for the dollar's decline and attempting to predict it's bottom can not be done without discussing our government's possible motives.
It's pretty clear from last week's headlines that the "Amero" is a planned and scheduled eventuality.
How can our government convince us to adopt if not pleed for this new currency?
By dropping the buck's worth to nill.
World affairs are an integral part of currency trading.
Not every politics oriented post needs to be directly qualified as Forex related or linked.
The more we know about the WHOLE picture the better able we will be at predicting future market moves.
This board is here so we can all learn by bouncing ideas off each other.
I think it's the whole world.. the whole species that needs a mental refresh.
We as a species need to grow the F up and realize we don't need nor should we EVER have a government.
We need public services... road fixers and such.
But we should NEVER allow any one group of socialites to seize power as we have encouraged throughout this age of humanity.
Russia's Putin : "Iran Is Not Afraid" Of US, Israel "Believe Me"
Darryl Mason
Wednesday, October 17, 2007
Russia's President Vladimir Putin has confirmed that he is backing Iran against the full force of the NeoCon-led propaganda campaign designed to force people in the US, the UK, Australia and across Europe to accept the 'reality' of the need for a new war in the Middle East.
Putin recently declared that Iran does not possess nuclear weapons, is not pursuing a nuclear weapons program and poses "no threat" to any nation, least of all the United States.
But the NeoCons have their heart set on bombing Iran before President Bush leaves office, and they don't let the fact that nobody, including President Bush himself, acknowledges that Iran currently poses a nuclear weapons capability threat, to mess with their blood-soaked dreams.
Putin made clear that Iran feels no fear from the threats of military action coming from the United States or Israel :
"Threatening someone, in this case the Iranian leadership and Iranian people, will lead nowhere," Putin said Monday during his trip to Germany. "They are not afraid, believe me."
Support amongst US allies for a War On Iran is thin, at best, and the United States closest Iraq War ally, Australia, recently pledged to not support any military action on Iran. France has also retreated from a 'pro-war' position on Iran, as has the United Kingdom.
But barely known to most in the West is that Putin is not alone in backing Iran against the threats of military strikes from the United States and Israel. Putin has the support of China, most of the 'Stans (including Afghanistan and Pakistan) and more than a dozen other countries who have lined up with China and Russia under the umbrella of new trade and economic alliances.
Putin also recently told a summit of energy-rich Caspian Sea bordering nations that they should not allow the United States to use their territory for staging attacks on Iran.
In the past two years, Iran has cut new energy deals with China, Russia, Pakistan and India worth hundreds of billions of dollars. China and Russia have both publicly stated that their energy deals with Iran fall under the "national interest" category, which the US and Australia used to justify their illegal invasion and occupation of Iraq.
Trade and economic alliances are always backed by military alliances, as shown by recent joint war games hosted by China and Russia. How else do you defend to the hilt your trade interests other than with the force of your military?
Just to ram home the point that Russia and China will not tolerate any attacks on Iran, Putin has now placed his arsenal of long range, strategic bombers on airborne stand-by for the rest of October. They will be patrolling most of the world's skies, with a particular focus on the Pacific, interestingly enough at the same time the United States will be holding some of its biggest airborne 'war games' in decades.
Putin also recently told a summit of energy-rich Caspian Sea bordering nations that they should not allow the United States to use their territory for staging attacks on Iran.
I made note of an allience forming a few years ago between Russia, China, and Iran...
In the time that has passed I have become laden with many epiphones.
Our government is out of control and heading us into a major world war...
Not a nice pretty one like WW2...
Russia and China allowed us to take Iraq from a bumbling psycho...
I do NOT think they will allow us Iran.
The United States is 4% of the world population and 18% of it's economy...
We are not as important as our idiotic elected leaders tell us we are.
Japan and China lead flight from the dollar
By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 5:21pm BST 17/10/2007
Japan and China led a record withdrawl of foreign funds from the United States in August, heightening fears of a fresh slide in the dollar and a spike in US bond yields.
Japan and China lead flight from the dollar
The US requires $70bn a month in capital inflows to cover its current account deficit
Data from the US Treasury showed outflows of $163bn (£80bn) from all forms of US investments. "These numbers are absolutely stunning," said Marc Ostwald, an economist at Insinger de Beaufort.
Asian investors dumped $52bn worth of US Treasury bonds alone, led by Japan ($23bn), China ($14.2bn) and Taiwan ($5bn). It is the first time since 1998 that foreigners have, on balance, sold Treasuries.
Mr Ostwald warned that US bond yields could start to rise again unless the outflows reverse quickly. "Woe betide US Treasuries if inflation does not remain benign," he said.
The release comes a day after the IMF warned that the dollar was still overvalued and likely to face "some depreciation in the medium term".
The dollar's short-lived rally over recent days stopped abruptly on the data, increasing pressure on US Treasury Secretary Hank Paulson to shore up Washington's "strong dollar" rhetoric at the G7 summit this week.
The Greenback has already fallen below parity against the Canadian Loonie for the first time since 1976 and has touched record lows against a global basket. It closed at $2.032 against the pound.
David Woo, an analyst at Barclays Capital, said Washington was happy to see the dollar slide. "They don't care so long as the fall is not disorderly. They see it as a way of correcting the deficit. " he said.
Mr Woo said a chunk of the August outflows may have come from foreigners borrowing in the US during the liquidity crunch to meet needs in euros. "We think it may be a one-off," he said.
The US requires $70bn a month in capital inflows to cover its current account deficit, but the key sources of finance are drying up one by one.
BNP Paribas said America has relied on "hot money" from abroad to cover 25pc to 30pc of the US short-term credit and commercial paper market over the last two years.
This flow is now in danger after the seizure in parts of the market over the summer and after the Federal Reserve's half point rate cut, which has shaved the US yield advantage over other countries.
Ian Stannard, a Paribas currency analyst, said the data was "extremely negative" for the dollar. "It exceeds the worst fears. It is not just foreigners who are selling US assets. Americans are turning their back as well," he said.
Central banks in Singapore, Korea, Taiwan, and Vietnam have all begun to cut purchases of US bonds, or signalled an intent to do so. In effect, they are giving up trying to hold down their currencies because the policy is starting to set off inflation.
The Treasury data would have been even worse if it had not been for $60bn of inflows from hedge funds based in Britain and the Caymans, which needed to cover US positions at the height of the credit crunch.
Brilliantly stated.
Welcome to the board.
Not sure about the Columbian Peso... Maybe GFT does it?
Not sure.
Get ready for a new currency.
Same argument was used before the last economic downturn here in the states.
Anyone who noted that the dot com bubble was bursting was instantly bashed as talking down the economy.
OT:
http://www.local10.com/news/14138122/detail.html?rss=mia&psp=news
How dare he ask a question when he was so graciously offered the chance to ask a question...
Citizens need to be tamed.
This is the American way?
Depends completely on what the fed does from here.
Everything is pointing to them pulling another recession and reducing the number of $'s in circulation.
You are hinting that the opposite will happen.
It's a coin toss at this point.