Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The more the better.
I understand completely.
I keep demo accounts for the same reason.
I don't always trade every whim.. but I will enter it into a demo to see... VERIFIABLY where it goes.
I have the compulsion that so many others have, to avoid truth when avoidable.
I'd rather you post each and every trade.
One, it's a valuable unescapable tool for you.
Two, it will be a benchmark for all of us who share in this board.
I don't want a board that is secretive about triumphs OR screw ups.
A community is emerging...
You and I .. and all of us here are welcoming many others just like we were away from scam markets, to this trader's resort we call forex.
The one thing that sets us apart is honesty.
The thing that sets us apart is our commitment to each other.
I hope to help you as much as you hope to help me.
Ok, how do I get started with this contest?
My experience in my corporate life is that contests are THE best way of learning and instilling proper technique, and I'm all for it.
Iran's next.. then that twit in Venezuala.
Surely we'll guise it as a defense of our freedom.. But we'll all know why it really happened.
EUR/USD bouncing off of descending trendline.. should be a decent move.
NEW YORK, May 25 (Reuters) - The dollar rose to a six-week high against the euro on Friday, on track for a fourth straight week of gains driven by reduced expectations that the Federal Reserve will trim interest rates this year.
A crop of solid U.S. economic data this month has led investors to price in less than a 50 percent chance the Fed will cut benchmark rates by the end of 2007, in contrast to early this year when more than one cut was fully priced in.
After an unexpectedly solid reading on U.S. new home sales on Thursday, traders' focus will shift to existing home sales figures at 10 a.m. (1400 GMT), the only data of note ahead of the long Memorial Day weekend. Both reports are for April.
The data from the National Association of Realtors is expected to show a modest rise in sales, after a sharp 8.4 percent decline in the previous month.
An increase in sales "would provide a significant boost to the U.S. dollar as it will help defuse the negative evidence seen in last week's release of the home price index, pending home sales and building permits," said Ashraf Laidi, chief FX analyst at CMC Markets, in a note to clients.
In early New York trading the euro <EUR=> was up 0.2 percent at $1.3453, within sight of an earlier 6-week low of $1.3411 on electronic trading system EBS.
The dollar was up 0.2 percent at 121.60 yen <JPY=>, nearing Wednesday's three-month high of 121.88. The euro was up 0.3 percent at 163.60 yen <EURJPY=>.
The yen weakened slightly earlier in the session after a report from Japan's Kyodo news agency that North Korea had fired several short range missiles into the Sea of Japan.
Canada dollar dips in quiet trade before rate move
TORONTO, May 28 (Reuters) - The Canadian dollar fell a
touch against the U.S. dollar on Monday amid lower oil prices,
but no major moves are likely with U.S. markets closed and
ahead of a looming Bank of Canada interest rate decision.
Domestic bond prices dropped on expectations the Bank of
Canada will leave rates steady on Tuesday but follow the
decision with a hawkish statement hinting at future rate
increases.
At 9:35 a.m. (1335 GMT), the Canadian unit was at C$1.0803,
or 92.57 U.S. cents, down from C$1.0794 to the U.S. dollar, or
92.64 U.S. cents, at Friday’s close.
After charging to a fresh 29-1/2-year high in nearly every
session last week, the Canadian dollar gave back some of those
gains in what is expected to be a quiet session.
U.S. financial markets were closed for Memorial Day, while
trading in Europe was thinned by public holidays in Britain,
Germany and Switzerland.
That’s left many market participants looking to the Bank of
Canada’s decision on Tuesday and its accompanying statement.
”Things can happen but I would suspect that today will be a
day of relative calm ahead of tomorrow’s Bank of Canada rate
decision,” said Carlos Leitao, chief economist at Laurentian
Bank of Canada in Montreal.
”I think there will be no change (in tone) but there is
quite a bit of anticipation, especially in the currency market,
that the bank will signal its willingness to increase rates in
the near term.”
Leitao expects the Bank of Canada to rephrase part of its
Monetary Policy Report from April, when it said it was not
overly concerned about a surprising upturn in inflation and a
surge in the Canadian dollar.
Many analysts expect the central bank statement to provide
hints on how aggressively it will head off inflation that has
crept up above its projections.
The Bank of Canada's overnight rate has been steady at 4.25
percent since May 2006, but a Reuters poll last week showed
most of Canada's primary dealers predict a rate hike by the end
of 2007.
A drop in London Brent crude prices to below $70 a barrel
put some pressure on the Canadian dollar, but it still managed
to stay within sight of the multi-decade high of C$1.0776, or
92.80 U.S. cents, it touched on Friday.
BONDS DROP
Canadian bond prices fell, with the focus on the Bank of
Canada amid a dearth of other economic trading incentives.
The bond market has generally retreated for the past few
months as expectations have shifted toward interest-rate
increases.
The two-year bond was down 2 Canadian cents at C$98.70 to
yield 4.433 percent, while the 10-year bond fell 12 Canadian
cents to C$96.80 to yield 4.436 percent.
The yield spread between the two-year and 10-year bond was
-0.3 basis points, compared with -0.6 basis point at the
previous close.
The 30-year bond declined 25 Canadian cents to C$120.90 to
yield 4.39477 percent. In the United States, the 30-year
treasury yielded 5.006 percent.
The three-month when-issued T-bill yielded 4.21 percent, up
from 4.20 percent at the previous close.
Yup, shorting destabilization should be one of the laws of the universe.
I've kept my account with them open and can tell from a year ago there is a big change.
Yes they used to quote away from actualy rates to their benefit, but I don't see them doing it anymore.
Their platform has been revamped and while not as good as others like GFT, it's better than it used to be.
Many of the reviews... bad reviews we see on the net are old ones.
I wouldn't steer any newbies their way but they have come a long way from a year or two ago.
On the Hourly EUR/USD we're getting close to the descending trendline.
Could very well see another sizable drop tonight.
Used to some time ago..
Did Planes and cars for a while.
No such thing as physics anymore...
This guy just broke every law.
http://www.liveleak.com/view?i=844_1178669945
That kid has some mighty large gonads to go chasing after that pig.
This story has not alot to do with forex, but considering most of us came from penny stocks... it will strike a chord.
People Often Think An Opinion Heard Repeatedly From The Same Person Is Actually A Popular Opinion
Science Daily — Whether people are making financial decisions in the stock market or worrying about terrorism, they are likely to be influenced by what others think. And, according to a new study in this month's Journal of Personality and Social Psychology, published by the American Psychological Association (APA), repeated exposure to one person's viewpoint can have almost as much influence as exposure to shared opinions from multiple people. This finding shows that hearing an opinion multiple times increases the recipient's sense of familiarity and in some cases gives a listener a false sense that an opinion is more widespread then it actually is.
In a series of six experiments that included 1044 students, from the University of Michigan, Princeton University, Rutgers University, University of Michigan -- Dearborn, University of Toledo and Harvard University, researchers sought to understand individuals' accuracy in identifying group norms and opinions. The experiments included dividing students into three groups, (three person control group, single opinion group and repeated opinions group).
Participants in the three person control group read three opinion statements each made by a different group member. The participants in the repeated opinion group read the same three statements but they were all attributed to one group member. Those in the single opinion control group read one opinion statement from one group member.
The studies found that an opinion is more likely to be assumed to be the majority opinion when multiple group members express their opinion. However, the study also showed that hearing one person express the same opinion multiple times had nearly the same effect on listener's perception of the opinion being popular as hearing multiple people state his/her opinion.
Researchers examined the underlying processes that take place when individuals estimate the shared attitude of a group of people and how that estimation of collective opinion can be influenced by repetition from a single source. Since gauging public opinion is such an essential component in guiding our social interactions, this research has implications in almost every facet of modern day life.
"This study conveys an important message about how people construct estimates of group opinion based on subjective experiences of familiarity," states lead author Kimberlee Weaver, (Ph.D), of Virginia Polytechnic Institute and State University. "The repetition effect observed in this research can help us to understand how our own impressions are influenced by what we perceive to be the reality of others. For example, a congressman may get multiple phone calls from a small number of constituents requesting a certain policy be implemented or changed, and from those requests must decide how voters in their state feel about the issue. This study sheds light on the cognitive processes that take place that may influence such a decision."
Article: Inferring the Popularity of an Opinion From Its Familiarity: A Repetitive Voice Can Sound Like a Chorus. Kimberlee Weaver, Virginia Polytechnic Institute and State University, Stephen M. Garcia and Norbert Schwarz, University of Michigan, and Dale T. Miller, Stanford University; Journal of Personality and Social Psychology: Vol. 92, No.
I say that moments before every Epiphany
The feeling I got from the rumors was that it's down the road... not near term.
Rate cuts are being rumored again... Not sure anyone is buying the buck at this point.
Yep, I figured it was an appropriate article for us...
Seems it's the business we're in.
Charts and such only go so far.
Truth known, We're all pretty much trading based on our future seeing guts.
Many Scientists are Convinced that Man Can See the Future
By DR DANNY PENMAN
PROFESSOR Dick Bierman sits hunched over his computer in a darkened room. The gentle whirring of machinery can be heard faintly in the background. He smiles and presses a grubby-looking red button. In the next room, a patient slips slowly inside a hospital brain scanner. If it wasn't for the strange smiles and grimaces that flicker across the woman's face, you could be forgiven for thinking this was just a normal health check.
But this scanner is engaged in one of the most profound paranormal experiments of all time, one that may well prove whether or not it is possible to predict the future.
For the results - released exclusively to the Daily Mail - suggest that ordinary people really do have a sixth sense that can help them 'see' the future.
Such amazing studies - if verified - might help explain the predictive powers of mediums and a range of other psychic phenomena such Extra Sensory Perception, dEj vu and clairvoyance. On a more mundane level, it may account for 'gut feelings' and instinct.
The man behind the experiments is certainly convinced. 'We're satisfied that people can sense the future before it happens,' says Professor Bierman, a psychologist at the University of Amsterdam. 'We'd now like to move on and see what kind of person is particularly good at it.' And Bierman is not alone: his findings mirror the data gathered by other scientists and paranormal researchers both here and abroad.
Professor Brian Josephson, a Nobel Prize-winning physicist from Cambridge University, says: 'So far, the evidence seems compelling. What seems to be happening is that information is coming from the future.
'In fact, it's not clear in physics why you can't see the future. In physics, you certainly cannot completely rule out this effect.' Virtually all the great scientific formulae which explain how the world works allow information to flow backwards and forwards through time - they can work either way, regardless.
SHORTLY after 9/11, strange stories began circulating about the lucky few who had escaped the outrage. It transpired that many of the survivors had changed their plans at the last minute after vague feelings of unease.
It was a subtle, gnawing feeling that 'something' was not right. Nobody vocalised it but shortly before the attacks, people started altering their plans out of an unspoken instinct.
One woman suffered crippling stomach pain while queuing for one of the ill-fated planes which flew into the World Trade Center. She made her way to the lavatory only to recover spontaneously. She missed her flight but survived the day. Amid the collective outpouring of grief and horror it was easy to overlook such stories or write them off as coincidences. But in fact, these kind of stories point to an interesting and deeper truth for those willing to look.
If, for example, fewer people decided to fly on aircraft that subsequently crashed, then that would suggest a subconscious ability to divine the future.
Well, strange as it seems, that's just what happens.
THE aircraft which flew into the Twin Towers on 9/11 were unusually empty.
All the hijacked planes were carrying only half the usual number of passengers. Perhaps one unusually empty plane could be explained away, but all four?
And it wasn't just on 9/11 that people subconsciously seemed to avoid disaster. The scientist Ed Cox found that trains 'destined' to crash carried far fewer people than they did normally.
Dr Jessica Utts, a statistician at the University of California, found exactly the same bizarre effect.
If it was possible to divine the future, you might expect those at the sharp end, such as pilots, to have the most finely tuned instincts of all. And again, that's just what you see.
When the Air France Concorde crashed in 2000, it wasn't long before the colleagues of those killed in the crash spoke about a sense of foreboding that had gripped the crew and flight engineers before the accident.
Speaking anonymously to the French newspaper Le Parisien, one spoke of a 'morbid expectation of an accident'.
'I had this sense that we were going to bump into the scenery,' he said.
'The atmosphere on the Concorde team for the last few months, if one has the guts to admit it, had been one of morbid expectation of an accident.
It was as if I was waiting for something to happen.' All of these stories suggest that we can pick up premonitions of events that are yet to be.
Although these premonitions are not in glorious Technicolor, they are often emotionally powerful enough for us to act upon them.
In technical parlance it is known as 'presentiment' because emotional feelings are being received from the future, not hard facts or information.
The military has long been fascinated by such phenomena. For many years the U.S. military (and latterly the CIA) funded a secretive programme known as Stargate, which set out to investigate premonitions and the ability of mediums to predict the future.
Dr Dean Radin worked on the Stargate programme and became fascinated by the ability of 'lucky' soldiers to forecast the future.
These are the ones who survived battles against seemingly impossible odds.
Radin became convinced that thoughts and feelings - and occasionally-actual glimpses of the future - could flow backwards in time to guide soldiers. It helped them make lifesaving decisions, often on the basis of a hunch.
He devised an experiment to test these ideas. He hooked up volunteers to a modified lie detector, which measured an electrical current across the surface of the skin.
This current changes when a person reacts to an event such as seeing an extremely violent picture or video. It's the electrical equivalent of a wince. Radin showed sexually explicit, violent or soothing images to volunteers in a random sequence determined by computer.
And he soon discovered that people began reacting to the pictures before they saw them. It was unmistakable.
They began to 'wince' a few seconds before they actually saw the image.
And it happened time and time again, way beyond what chance alone would allow.
So impressive were Radin's results that Dr Kary Mullis, a Nobel Prizewinning chemist, took an interest.
He was hooked up to Radin's machine and shown the emotionally charged images.
'It's spooky,' he says 'I could see about three seconds into the future.
You shouldn't be able to do that.' OTHER researchers from around the world, from Edinburgh University to Cornell in the U.S., rushed to duplicate Radin's experiment and improve on it. And they got similar results.
It was soon discovered that gamblers began reacting subconsciously shortly before they won or lost. The same effect was seen in those terrified of animals, moments before they were shown the creatures. The odds against all of these trials being wrong are literally millions to one against.
Professor Dick Bierman decided to take this work even further. He is a psychologist who has become convinced that time as we understand it is an illusion. He could see no reason why people could not see into the future just as easily as we dip into memories of our past.
He's in good company. Einstein described the distinction between the past, present and future as 'a stubbornly persistent illusion'.
To prove Einstein's point, Bierman looked inside the brains of volunteers using a hospital MRI scanner while he repeated Dr Radin's experiments. These scanners show which parts of the brain are active when we do certain tasks or experience specific emotions.
Although extremely complex, and with each analysis taking weeks of computing time, he has run the experiments twice involving more than 20 volunteers.
And the results suggest quite clearly that seemingly ordinary people are capable of sensing the future on a fairly consistent basis.
Bierman emphasises that people are receiving feelings from the future rather than specific 'visions'.
It's clear, though, that if ordinary people can receive feelings from the future then perhaps the especially gifted may receive visions of things yet to be.
It's also clear that many paranormal phenomena such as ESP and clairvoyance could have their roots in presentiment.
After all, if you can see a few seconds into the future, why not a few days or even years? And surely if you could look through time, why not across great distances?It's a concept that ties the mind in knots, unless you're a physicist.
'I believe that we can "sense" the future,' says the Nobel Prizewinning physicist Brian Josephson.
'We just haven't yet established the mechanism allowing it to happen.
'People have had so called " paranormal" or "transcendental" experiences along these lines. Bierman's work is another piece of the jigsaw.
The fact that we don't understand something does not mean that it doesn't happen.' If we are all regularly sensing the future or occasionally receiving glimpses of it, as some mediums claim to do, then doesn't that mean we can change the future and render the 'prediction' obsolete?
Or perhaps we were meant to receive the premonition and act upon it? Such paradoxes could go on for ever, providing a rich seam of material for films such as Minority Report - based on a short story of the same name - in which a special police department is able to foresee and prevent crimes before they have even taken place.
COULD such science fiction have a grain of truth in it after all? The emerging view, Bierman explains, is that 'the future has implications for the past'.
'This phenomena allows you to make a decision on the basis of what will happen in the future.
Does that restrain our free will?
That's up to the philosophers. I'm far too shallow a person to worry about that.' The problem with presentiment is that it appears so nebulous that you can't rely on it to make reliable decisions. That may be the case, but there are plenty of instances where people wished they had listened to their premonitions or feelings of presentiment.
One of the saddest involves the Aberfan disaster. This occurred in 1966 when a coal tip collapsed and swept through a Welsh school killing 144 people, including 116 children. It turned out that 24 people had received premonitions of the tragedy.
One involved a little girl who was killed. She told her mother shortly before she was taken to school: 'I dreamed I went to school and there was no school there. Something black had come down all over it.' So should we listen to our instincts, hunches and dreams?
Some experts believe we may already be using them in our everyday lives to a surprising degree.
Dr Jessica Utts at the University of California, who has worked for the U.S.
military and CIA as an independent auditor of its paranormal research, believes we are constantly sampling the future and using the knowledge to help us make better decisions.
'I think we're doing it all the time,' she says. 'We've looked at the data and it does seem to happen.' So perhaps the Queen in Through The Looking Glass was right: 'It's a poor sort of memory that only works backwards.'
Whilst perusing news stories I stumbled across what's wrong with this world... Just one sentence in this article.
Just one.
Japan's first "baby hatch", where parents can drop off unwanted infants anonymously, opened Thursday despite opposition from the conservative national government.
The baby hatch, modelled on a project in Germany, went into operation at a Roman Catholic hospital in the city of Kumamoto, some 900 kilometres (560 miles) southwest of Tokyo.
Prime Minister Shinzo Abe, who has urged Japan to return to "family values," opposed the idea but found no legal grounds to stop it.
"A mother must not leave her child or abandon him or her anonymously," Abe told reporters.
"I want mothers to seek help first if they have problems," said Abe, who is childless after unsuccessful attempts with his wife Akie.
Government spokesman Yasuhisa Shiozaki added: "Even at a hospital facility, abandoning a baby still should not be tolerated.
"It is the government's role to help parents raise children on their own."
Since the hospital announced plans to set up the hatch in November, it has reportedly received about 40 inquiries.
Advocates say the plan, if replicated, could help boost the dwindling birth rate in Japan, where abortion is widely accepted.
The city of Kumamoto approved the Jikei Hospital's plan in April after deciding it did not violate any laws.
Called "the cradle of storks," the hatch is set into the wall of the hospital's lobby like a mailbox.
It has a door, 50 centimetres (20 inches) by 60 centimetres (24 inches), with a drawing of two storks carrying a baby and a message reading, "Please leave something with the baby."
When the door is opened, a nurse is alerted by an alarm. There is an intercom next to the door to encourage parents to contact hospital staff.
"When I saw a simulation, in which a baby doll was placed into the hatch, I again felt determined that we must build a society in which this hatch will never be needed," Kumamoto Mayor Seishi Kouyama said, as quoted by Jiji Press.
No babies were left in the hatch during the first hours that it was open.
Now using shorter timeframes means smaller reversals.. Not sure if that's what you meant.
Not really sure what you mean by that.
When I back tested those two indicators I found them to be as sure a thing as there is in any market.
The trick is for both of them to be in the same state and at similar if not the same level.
That's the key.
Having Stochastics at 10 and RSI at ten means reversal damn near everytime.. no matter the timeframe.
Having Stochastics at 10 and RSI at 35 means continuation.
When combined and adhered to, The RSI and Stochastics will not steer you wrong. :)
EUR/USD starting to look a tad oversold on the daily.
Stochastics are in the teens but the RSI is still 30ish.
1.35 or so might see some action from early longs.
Slow Drivers - Move Over!
Grassroots campaign prods slowpokes out of left lanes
Posted: May 7, 2007
1:00 p.m. Eastern
Enough with slow drivers in the left lane! “As traffic gets increasingly congested, it’s time for citizens to reclaim the left lane,” says J.A. Tosti, spokesman for Left Lane Drivers of America, a grassroots effort to get slower traffic to move right. “More and more these days, you find slow drivers in the left lane, causing no end of headache and frustration to those of us who have places to go and people to see. Some of these offenders are timid and tentative, some are completely oblivious to what’s going on around them, and some are self-appointed ‘hall monitors’ regulating what they alone have determined to be proper driving speeds. Whatever be the case, it’s time for us to trumpet the message, ‘If you’re not a Left Lane Driver, get out of the left lane!’”
In order to actually help slower drivers move right, Left Lane Drivers of America offers copyrighted windshield decals which boldly and prominently display their unified sentiment in the offending driver’s rearview mirror. The decal, which reads “MOVE OVER” also has a large arrow showing them where to go. The words and arrow display backwards on the windshield so that they read properly when seen in the mirror (click here to see picture). According to Tosti, “Although the message minces no words, the idea here is not to be rude or pushy but to offer slow drivers a gentle prod, reminding them of the need to either pick up the pace or make room for those who choose to drive a bit faster.”
In fact, slow drivers do need to move over. In many states, the left lane is supposed to be the passing lane and slower drivers can be cited for obstructing traffic. Those who stake out permanent positions for themselves in the left lane tend to provoke those wanting to drive faster, often giving them no other choice but the dangerous strategy of passing on the right in order to get ahead. Slow drivers can easily become slow moving safety hazards.
Bottom Line: Moving over is a matter of courtesy. It is a matter of safety. It is a matter of doing one's part to help traffic flow smoothly. And it is the law in many states: “Stay to the right except to pass”. Left Lane Drivers of America is doing something positive to help improve traffic flow on today’s overcrowded, pressure-packed freeways. Their “Move Over” message has the potential of helping reduce instances of road rage, hazardous driving and untimely, often deadly accidents.
http://www.leftlanedrivers.org/wnd.html
Good point
A gloomy book if I remember correctly.
From the enlightened view of less government is better for every human on this planet; one world government is a sure fire way to exterminate the spirit of humanity... The freedom we all deserve and the prosperity we all desire.
President Bush signed an agreement creating a "permanent body" that commits the U.S. to "deeper transatlantic economic integration," without ratification by the Senate as a treaty or passage by Congress as a law.
The "Transatlantic Economic Integration" between the U.S. and the European Union was signed April 30 at the White House by Bush, German Chancellor Angela Merkel – the current president of the European Council – and European Commission President José Manuel Barroso.
The document acknowledges "the transatlantic economy remains at the forefront of globalization," arguing that the U.S. and the European Union "seek to strengthen transatlantic economic integration."
The agreement established a new Transatlantic Economic Council to be chaired on the U.S. side by a cabinet-level officer in the White House and on the EU side by a member of the European Commission.
The current U.S. head of the new Transatlantic Economic Council is Allan Hubbard, assistant to the president for Economic Policy and director of the National Economic Council.
The current EU head of the council is Günther Verheugen, vice-President of the European Commission in charge of enterprise and industry.
(Story continues below)
The Transatlantic Economic Council was tasked with creating regulatory convergence between the U.S. and the EU on some 40 different public policy areas, including intellectual property rights, developing security standards for international trade, getting U.S. GAAP (Generally Accepted Accounting Practices) recognized in Europe, developing innovation and technology in health industries, implementing RFID (Radio Frequency Identification) technologies, developing a science-based plan on bio-based products and establishing a "regular dialogue" to address obstacles to investment.
At a joint press conference, Bush thanked the other two leaders for signing the "trans-Atlantic economic integration plan," commenting that, "It is a recognition that the closer that the United States and the EU become, the better off our people will be."
Barroso said the Transatlantic Economic Council is meant to be "a permanent body, with senior people on both sides of the Atlantic."
As WND has reported, Secretary of Commerce Carlos Gutierrez repeatedly has pushed for North American integration, much as the April 30 agreement proposes closer U.S.-EU integration.
Mexico's ambassador to the U.N., Enrique Berruga, has called for a North American Union to be created in the next eight years.
But the Bush administration's push for North American integration is facing increasing opposition within Congress.
WND reported Rep. Virgil Goode, R-Va., has introduced House Concurrent Resolution 40, which opposes the administration's Security and Prosperity Partnership, blocks a NAFTA Superhighway System and expresses opposition to the U.S. entry into a North American Union with Mexico and Canada.
WND also has reported a movement led by Phyllis Schlafly of Eagle Forum has led to an increasing number of state legislatures proposing resolutions opposing a North American Union
The funny thing is everyone is worried about the US merging with Canada and Mexico to combat the euro...
They need to be more concerned about ALL nations combing to form one world government....
It's coming sooner than you might think.
I'll bring the beer if you bring the popcorn as we watch the frenchies burn paris.
That is true more of stocks than forex.
True it is difficult to get a feel for that method of trading... but it can be done.
I also use trendlines in conjunction for added security.
hmmmm
I see your crack dealer must be having a two for one sale again.
Go back and backtest correlating signals from both RSI and slow stochastics... you'll see.
I beg to differ.
Indicators work better in forex than anywhere else.
Slow stochastics coupled with the RSI is just about as sure a thing as there can be in any market.
Glad to see you stopping by Fringe.
Welcome aboard.
Are you expecting an uptrend or a spike?
Daily chart looks like at the very least a continued consolidation period.
It's funny...
They were saying the same thing at .10... .01... .008...
.005...
Dollar Declines to All-Time Low Against Euro as Economy Slows
By Min Zeng and Bo Nielsen
April 27 (Bloomberg) -- The dollar dropped to an all-time low against the euro after the U.S. government reported the economy grew at its slowest pace in four years.
The dollar also weakened against most other major currencies, with a Federal Reserve index measuring dollar strength near the lowest level in its 36-year history. The U.S. currency pared its decline against the euro after the record low triggered buy orders.
``The main trend is averse to the dollar,'' said Paul A. Samuelson, professor emeritus of economics at the Massachusetts Institute of Technology and a Nobel Prize winner in economics. ``With the U.S. in moderate slowdown, that's not encouraging foreign savers at the old dollar exchange rate.''
The dollar fell as weak as $1.3681 per euro today, eclipsing the previous record low of $1.3666, touched April 25 and first reached Dec. 30, 2004. The euro debuted in January 1999 at about $1.17. The dollar traded at $1.3632 at 1:56 p.m. in New York.
U.S. gross domestic product, the sum of all goods and services produced, grew at an annual rate of 1.3 percent from January through March after a 2.5 percent pace in the fourth quarter, the Commerce Department reported in Washington today.
The current account, the broadest definition of trade, fell to a record deficit of $856.7 billion last year, draining the dollar's strength.
``The current account has weakened the dollar for some time, while interest rates supported it,'' said Torsten Slok, an economist in New York at Deutsche Bank AG. ``If rates start to fall relative to other areas, both indicators will point down for the dollar.''
Fed Rate Outlook
Slok and his colleagues believe the Federal Reserve will lower its target rate for overnight lending between banks to 4.75 percent this year from the current 5.25 percent and the dollar will remain weak at $1.36 by the end of the year.
The U.S. currency's rebound accelerated after it rose to the range of $1.3640 to $1.3650, where orders had been set by investors to buy back the dollar to limit losses, said Brian Dolan, research director at Forex.com, a unit of online currency trader Gain Capital in Bedminster, New Jersey.
The dollar strengthened 0.10 percent to 119.68 yen, erasing its previous losses and rebounding from as low as 118.88 after the Commerce Department released its economic data.
The yen dropped to a record low against the euro after a Japanese government report showed consumer prices dropped last month and the BOJ lowered its forecast for inflation for the 2007-2008 fiscal year.
Carry Trade
Investors speculated the BOJ will refrain from boosting interest rates at a faster pace, spurring buying of higher- yielding assets funded by loans in Japan, a practice known as the carry trade. The BOJ kept its benchmark rate unchanged at 0.5 percent, the lowest among major economies.
The Japanese currency fell 0.33 percent to 163.13 per euro and earlier touched an all-time low of 163.24.
A declining dollar is benefiting U.S. companies such as McDonald's Corp., EBay Inc. and 3M Co., whose overseas revenue has increased when expressed in dollar terms.
The U.S. government's views on the currency haven't changed since Treasury Secretary Henry Paulson reiterated his support for a ``strong dollar'' on April 20, said Brookly McLaughlin, Paulson's spokeswoman in Washington.
European Central Bank council member Yves Mersch told the Boersen-Zeitung newspaper on April 25 that German exporters ``can live with the current exchange rate'' and that in a ``monetary union internal adjustment processes are more important than'' external ones.
Europe Versus U.S.
The 13-country euro region's economy grew 2.7 percent last year, the fastest in six years. The region will expand 2.3 percent this year, compared with growth of 2.2 percent in the U.S., according to the International Monetary Fund.
The Fed's U.S. Trade Weighted Major Currency Dollar Index weighted against major currencies dropped to an all-time low of 78.99 on April 25, with 100 being the index's March 1973 reading.
The dollar has fallen 16 percent against the euro since the European currency's 1999 launch. The U.S. currency has declined 21 percent versus the pound, 36 percent against the Australian currency, 40 percent versus the New Zealand currency and 38 percent against its Canadian counterpart over the same period.
The Fed has held its target rate for overnight lending between banks at 5.25 percent since June, while the European Central Bank raised its benchmark a quarter percentage point to 3.75 percent last month.
The yield advantage of 10-year U.S. Treasury notes over similar-maturity German bunds traded at 0.474 percentage point, close to 0.459 set on April 24, the lowest since November 2004. A narrowing yield gap dims the allure of dollar-denominated assets.
To contact the reporters on this story: Min Zeng in New York at mzeng2@bloomberg.net ; Bo Nielsen in New York at bnielsen4@bloomberg.net .
EUR/USD and the EUR/GBP
Crude Oil
Ascending Triangle formation.. darn near perfectly formed...