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well we went from having a very busy board to it being rather dead.
thinking we may have seen the highs for a while in usd/jpy, maybe it is time to go back to shorting on the bounces .
you haven't been around in a while, why are you ticked off?
mine were out last week and yesterday. Glad you had a fun day.
well luckily I had some nice profits on gbp/jpy and gbp/usd some I am ok but I have a bigger chunk of usd/jpy and still a small chunk of gbp/jpy which is also getting dragged down. I gotta go back to sleep kids back to school this morning.
usd/jpy always seems to fry me. I am not clear why it is dropping so.....
yeah I am dizzy! last post til midnight
Sherri busy at work today? and where has Idzi gone? he hasn't been around in a while. Oh and my daughter just told me it is snowing outside!! It is starting to feel like spring is never going to return here in Michigan.
lol here is a headline you gotta love
04/13 20:29 EUR BRIEFING: Single Ccy Chops Higher No One Knows Why
thanks for both those.
I have a question that only an old timer can answer, does this time of year tend to be more choppy? I remember that last year around this time quite frequently I would close out a position for a loss only to watch it bounce back. Is it not until later in the year that trends are established and there are bigger positions to defend that things tend to move more according to an established trend?
17:25 USD/JPY: GS Implieds Rise Ahead of Earnings New York, April 13. The Reuters equity section has implied vols building in Goldman ahead of tomorrow morning"s earnings announcement. Shares are up $3 today, at $128. The top GS option trades of the day are April 125/135 call spreads. Implieds are trading around 69%. The First Call has GS Q1 estimates at $1.60 per share with ranges of $2.80 to $0.75. Robert.Fullem@ThomsonReuters.com
yes DailyFX.Plus I think you need an account with FXCM but you could get one for $25 and get the news feed. They do have a lot of good stuff.
"I see I exited GBP:USD too soon. Made a nice buck so I shouldn't complain, but it would have hit my TPs if I'd let it." ditto.
17:01 GBP/USD: Sterling Still Gaining, Now With Less Drag Boston, April 13th. Earlier in the day, cable"s ascent was somewhat hampered by a sharp rally in EUR/GBP. The cross has settled into a nice range, though, so the GBP is back to keeping pace against the USD with the EUR and other majors. In this period sterling has also been able to make a bit of ground against the JPY.
Things have turned a little bit in terms of the cross-market view. Stocks are near their best levels of the day, which we would normally expect to see with cable rallying. Oil is well off its lows and Treasuries have leveled out. Even this, though, is a bit contrary to the recent pattern as normally EUR/GBP has risen in the face of better stocks and all that.
Naturally, a lot of this may be laid at the door of light volume trading exacerbating moves that otherwise would have been minor. The proof of that will come on Tuesday when the traders of the world come back in. If today"s action is reversed in meaningful fashion then we"ll know the markets haven"t completely turned upside down. If not, though, it will be time to start re-evaluating the relationships. John.Forman@ThomsonReuters.com
lol.
you are welcome. It is starting to look more like a USD problem as USD/JPY is also dropping.
14:19 EUR/USD: Technical Rebound Rather Than Fundamental Shift New York, April 13. There seems to be some settling of the jitters in Europe as the Eastern European currencies gain ground against the USD but lose ground against the Swiss and Euro. IMF support and changes in local conditions have given the Eastern European block a boost of late but today "s price action looks as though the central part of Europe is seeing signs of life. Part of this may be due to simple bottom fishing of the Euro after several bouts of selling. In addition, the Frankfurter Allgemeine reported that German Fin Min Steinbruek is looking into the creation of several bad banks and will look into the difference between toxic and illiquid assets. This may suggest that Europe is opening its eyes to solving problems.
EUR/USD has climbed back above its 100 day MA at 1.3185 but is meeting resistance at its 7 day MA of 1.3293. From a broader perspective, the EUR is trading near the middle (1.3373) of its Bollinger band and will soon meet up with its 21 day MA at 1.3354. Since the rise seems more of a technical issue than a fundamental shift in the Euros attractiveness as an asset, technical resistance points will prove difficult to move.
13:34 US TECHS: S&P Outlook; Trading Blueprint for Eventful Week Boston, April 13. The overnight session has been lethargic courtesy of bourses that are closed in Asia and Europe along with those that are dragging themselves into the post-holiday trade Stateside.
Q1 big bank earnings are front and center this week as the market pauses to see if Goldman (Tuesday before bell), JPMorgan/BlackRock (Thursday before bell), and Citi (Friday before bell) can match the positive direction that Wells pre- announced last week. Other key reports will be from J&J (Tuesday before bell), Intel (Tuesday after bell), AMR (Wednesday during day), and Google (Thursday after bell). The key economic data will be Retail Sales (Tuesday), CPI/NAHB/IP (Wednesday), Claims/Housing Starts/Philly Fed (Thursday), and Reuters/UMich Sentiment (Friday).
The week shall thus be volatile (options expiration Friday) despite the VIX below 40 and will not likely be bull/bear decisive until Citi's results are seen. However the market's predilection to lean in the right direction is strong and should provide clues as to whether the recovery rally can continue. Trend lines on the daily chart above and below are 859 and 825 which should contain the action until the bank earnings paint a more descriptive picture of financial health. The beginning to rise top Bollinger band is at 861 and below the mid Bollinger is 808 with the 50-day mover at 803. Duncan.Balsbaugh@Thomsonreuters.com
to be blunt, crap like this makes me want to puke
Bonus kerfuffle cost taxpayers, says AIG boss
By Sam Mamudi
Last update: 8:54 a.m. EDT April 13, 2009
Comments: 5
NEW YORK (MarketWatch) -- The outcry over bonuses paid to executives of American International Group (AIG:
AIG 1.16, +0.08, +7.4%) likely hurt taxpayers because the unwinding work of its financial products unit was set back by weeks, the unit's chief told The Wall Street Journal. In an interview in Monday's paper, Gerry Pasciucco said about 20 out of 370 staff left amid the controversy and remaining staff were so "stunned" that their work slowed down. The unit needs staff familiar with its portfolio to help maintain hedges on current trades, he said. Pasciucco added that the unit's trading partners were concerned about being dragged into the situation. Staff are worried that their pay could again come under political attack, said Pasciucco. End of Story
yes I am out of all my longs as well but it looks like there is a shift to negative US news being USD negative.....
note to self if I am still around doing this in a year.....don't trade over the Easter Holiday!!! so nervewraking.
depends on whether you count the first six months where I went nowhere then a year if you only count from that last time I was at 25 then six months.
yes that is the standard price. It took me a while if you include the half year that I fluctuated back and forth and had to add money. But starting in September was the last time I had about $25 and I started to steadily increase and it took me till about the beg of March.
I use FXCM.
I micro lot gets you 10cents a pip. You spend 2.50 to buy one micro lot. So if you buy 5 micro lots it will cost you 12.50. Which means your account can't go below that. If the spread on the pair you buy is 1.5 , then 1.5 x .5 is .75 So add that to your 12.50 which brings you to 13.25. Now if the trade goes against you every pip costs you 50 cents. So you have $25. -$13.25 or $11.25 of money left to lose, divide that by .50 and you get 22.50 so you can go handle an additional 22 pip move against you before they close out the trade and leave you with 12.50 in your account. So you have lost half your money on a pretty small move against you. It would be wiser to go in 1 micro costing you $2.50 plus 15 cents or $2.65. That leaves you $22.35 to work with and at 10 cents a pip so you can handle a 223 pip move against you before they close you out leaving you with $2.50 which would shut you down. But you don't want to let it get that far away from you. Anyway the point is that it is smarter to go in small and catch decent size moves in your favor while being able to handle a little bit of a slide against you. Your gains will start off being small but you learn good disciplined entries, how to cut your losses and not to make the number one mistake that takes out most traders - even the more advanced - and that is using too much leverage for the size of your account. I have built my account up to 1600 from 25. I had a bad day (where I overleveraged) and am down at 900 currently but the point is you can build your account from there doing it slowly and wisely instead of depending on luck.
thanks Omar. The day is almost over where you are isn't it?
you are the master of reading the fine print lol, is it a sort of hobby?
A little time passes and the younger crew has moved on with dizzying speed - without us. Which is unfortunate because if we had listened to the lessons of our parents we would not be in the global free fall we are now in. But we also set their valuable lessons aside as unnecessary caution, we were smarter there was a new financial model and those outdated quaint concerns were only impediments to great wealth. A little shuffling of some names at the top of an IBox doesn't change what many of us here know to be so.
I didn't know they were mostly dealing in house. I feel kind of stupid at times that I don't know more about how these outfits are run. So basically they are like bookies?
I am amazed they are able to stay in business you have a successful trade they are paying out 400, 200 100 times what you put up. So to my mind they certainly aren't going to make it easy they will however make it appear to be. Like I said these things happen you just have learn how to navigate around them if you want to trade. Seems like a fair trade off to me. Even the marketing if they made if blatantly clear how difficult this is then far fewer people would try and us little people would not be able to do this.
lol who shops anymore? gbp/usd it is leaping frogging back and forth. Guess I am holding over the weekend.
that is a super tight stop and would not take much activity to be taken out. Think about it these are 100th of a cent moves they just seem bigger because of the high leverage. Anyway I am not saying it doesn't happen I only set mental stops because of it 15-20 pip stop grabs are not unusual, there are stop hunters in currency just as in other markets.
my take on these types of things is that it is the price we pay for 400, 200, 100/1 leverage. It seems that most suspect that the brokers they use take out stops if they are close enough and the markets are thin enough. I just incorporate these "road blocks" into my trading strategy.
you only have five days if they aren't done. I really wasn't thinking I somehow thought April 15th was a bit further off.
The Alchemy of Finance
I have that somewhere I think I will find it I never read it I started it but didn't get far....Ah found it already. I have to do my taxes too.
Well summer isn't that far off you could maybe find a teenager to help out while you are trying to work for less than a nanny. But that bonding that is happening now pays off immensely when they get older. There is a non verbal foundation that gets established and is just there to carry you through the tougher moments. And it is really great that she is getting to establish that with both of you. When I had my middle girl ( middle child too ) I fell even deeper into some mental health issues that had always plagued me to some degree but became severe enough to interfere in a more measurable way with my care for her. I did what I had to and I loved her of course but I was struggling to handle my own problems and didn't give anything extra. And she is the one now that I struggle the most with, she doesn't feel like I "get" her at all, and so I am not much comfort to her when she is going through difficult times.
lol isn't it amazing how such a little bit of a thing consumes/rules your whole life? and it seems like they know it on some level too.
How is your baby? past the worst of the teething for now?