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.
XXX was only a place holder for naming of d'cable.
Posted by: Ataglance2
In reply to: TexasRedGT who wrote msg# 12653
Date:7/5/2007 5:49:07 PM
Post #of 12689
yes the beast is the gbp/jpy.....
turtle: usd/jpy
Python: eur/usd
Ugly sister: eur/jpy
yellow tiger: xau/usd ..reall dont want to mess with the yellow tiger with real money though....
I have twenty acres in Stagecoarch Nevada, can you swingby and pickup a few tumble weed?
So your the new Tonto riding with d'Lone Ranger?
closed long GBP/JPY - Tonto has to sleep. GL
long d'beast @ 247.520
horse jumped d'gate and I bought a false race.
time to turn my screen upside down
Set your Silver T/P for the first blonde trader that enters the market...
This Guy who owns a porno shop and has his friend watch the store while he runs some errands.
While the owner is away in walks this red head lady. She walks up to the counter and asks, "How much for that pink dildo up on the shelf?" The guy replies, "$25." She said, "I'll take it!"
A few minutes later in walks this brunette. She walks up to the counter and asks, "How much for that purple dildo up on the shelf?" The guy replies, "$50." She said, "I'll take it."
A while later this blonde walks in. Her eyes got as big as saucers. She walked up to the counter and asked, "How much for that big silver dildo on the shelf?" The guy replies, "$100." She pays him and leaves.
In walks the owner and asks how business was doing, and his friend replies, "I sold the pink dildo for $25, I sold the purple dildo for $50, and I sold your THERMOS for a $100."
I hope you do better then I did.
I will always hold d'record on silver losses.
Tonto will NOT be your sidekick your gonna have to be d'Lone Ranger and ride Silver alone....
I have the same turtle battle plan, I would watch it test the upper trend, wait for d'stall then go short and cover to the lower trend line.
My beast battle plan is to watch it test the lower trend, wait for d'stall then go long.
oh shit - I should check d'Forex Factory Calendar for news....
short term it's a reversal of the longer term trend, it nice watch'n d'triangle (pendant) squeeze on both d'turtle and d'beast...
reset crows trades to see which way d'wind is blowing
turtle - short 1-unit $/jpy 122.749 (upper channel reversal)
beast - short 1-unit gbp/jpy 247.380 (upper channel reversal)
cable - long 1-unit gbp/$ 2.01565 (lower channel reversal)
Position value - $5.03
Will watch and make correction 1-1/2 hours before the London open
Hiding in d'bushes
You may get your turtle moon shot once cable break support of 2.01326.
It's updated now.
I made about $750 dollars driving my car during rush hour traffic last night.
Somebody kissed the rear driver side bumper and I'm looking around trying to figure out what happen, then I slowed down waited for the first car to exit the next freeway off ramp.
Three dollars of white paint, some rubbing compound and I'm ready to drive down the Forex freeway again....
If we don't treat it like a business we may all be living in our cars and standing next to freeways with cardboard signs asking for change....
Only the game account, I still have to prove to myself that I have the skills to make money in the Forex market.
I do agree with you, but I'm a simple bear, I only have to walk up to river and check the flow, depth, direction, and temperature of the water before I start to fish.
Then hide in the bushes and wait for the other fisherman's to start fishing, then I can steal a few fishes from each one of them.
We our all Forex bears in the currency market, it just a matter of time before we have our hides tanned and sold back to the fisherman.
I just have to manage the risk and be in the market when the conditions our in my favor.
No I only started with only $10,000 dollars to control myself from over investing.
I have a simple goals of only earning $1000 dollars per week, and be able to withdraw my seed money after 3 months.
So far I'm on track for the week
Sunday - $250
Monday - $440
So I only need to have a $310 play to meet my weekly goal.
I also created a sub-account under the demo account that I use for controlling my urge to alway play d'market, and for tracking different play scenario.
Yesterday I watch the interaction of the beast, turtle, and cable for over six hours before increasing my crow wager.
Crow tracking
long $/JPY - up 11.3 pips
long gbp/jpy - up 32.7 pips
long gbp/$ - up 10 pips
Crow position - $5.04 (up a penny)
current crow hold'n
long $/jpy
long gbp/jpy
long gbp/$
position value - $5.03
thanks works much better.
closed out GBP/JPY for a small gain and d'bastard takes off to d'moon without me....
keep going --- I'm not watch'n --- I'm taken my profit and sitting on d'sidelines...
Yes - had to restart the computer about six times, it would only load to about 84 percent then freeze up....
Beast (GBP/JPY) get'n ready to run to my T/P of 247.849
OANDA is starting to become a piece of $%@$ takes 1 hour to log on to my trading account. I find out it missed my T/P by a few pips 30 minutes ago.
Then my trade turn south for a loss, and the $%&@ work of art kicks me out of the system....
Almost forgot - GBP/JPY long @ 246.835
Does anybody know what the Forex Holiday trading hours will be?
I'm guessing that only the US Market is closed, and it will be like a normal pick your pocket Sunday, but only mid-week.
Market trend'n w'd-crows
short USD/JPY (turtle)
short GBP/JPY (beast)
long GBP/USD (cable)
Down 59 cents wait'n for d'market to follow my crows...
Check'n to see which way d'crow will fly
LONG - GBP/USD (100) @ 2.0093
SHORT - USD/JPY (100) @ 122.995
SHORT - GBP/JPY (100) @ 247.046
I'm planning on only trading <USD/JPY, GBP/JPY, GBP/USD> (turtle, beast, XXX)
Markets fear global 'credit crunch'
By Edmund Conway, Economics Editor
Last Updated: 7:48pm BST 29/06/2007
Fears of a global 'credit crunch' have engulfed markets as the sub-prime shake-out claimed yet more victims and the Bank of England Governor warned investors to 'think before you lend'.
US Federal Reserve chairman Ben Bernanke - Markets fear global 'credit crunch'
Ben Bernanke announced he had left interest rates at 5.25pc
A London-based hedge fund announced it is to close, after racking up crippling losses on the troubled US sub-prime mortgage market. It also coincided with news that at least eight companies have been forced to withdraw major bond sales.
It is fuelling fears that, after five years in which the market gorged itself on cheap money and historically low interest rates, borrowing is about to become far more expensive, as the so-called credit cycle turns and lenders reconsider the appetite for risk.
"The elevated levels of risk appetite are inconsistent with fundamentals," said James Montier, strategist at Dresdner Kleinwort.
Fears that the Federal Reserve has still not yet beaten the inflation threat in the US were barely assuaged as its chairman Ben Bernanke announced he had left interest rates on hold at 5.25pc, adding that "the committee's predominant concern remains the risk that inflation will fail to moderate as expected".
Meanwhile, Bank governor Mervyn King used an appearance at the House of Commons Treasury Select Committee to warn on the dangers of investing in ever-popular complex debt instruments.
"Most financial crises have involved a high level of leverage. Having said on earlier occasions 'think before you borrow', what I wanted to make clear was 'think before you lend'," he said.
"If we ever got to the point where some of the lenders started to liquefy their instruments at the same time, people may realise their balance sheet isn't as secure as they thought."
Caliber Global Investment, a $908m (£450m) London hedge fund, announced it is to sell off its assets and close within a year. It follows news that two hedge funds owned by US investment bank Bear Stearns came close to collapse after heavy losses in the sub-prime market.
Queens Walk, another London hedge fund run by Cheyne Capital, has incurred a $91m annual loss related to the US property market, while private equity group Carlyle has cut the size of its initial public offering for a property fund by 25pc to $300m.
The American mortgage market has crumbled in recent months as many homeowners default on their loans, with knock-on consequences for almost every part of the financial system.
Analysts are worried that the problems experienced in the sub-prime market could spread to the wider debt markets, causing easy credit to dry up across the globe. They also fear a pick-up in inflation both in the US and Europe.
Korean motor company Kia yesterday became the latest group to cancel a bond offering, shelving plans to sell $500m worth of debt. A host of other companies, including private equity group Kohlberg Kravis Roberts and steel maker Arcelor Mittal have between them pulled more than $3bn of debt sales, citing worries about the potential lack of demand.
Robert Appleby, chief investment officer of ADM Capital in Hong Kong, said: "This may mark a tipping point in the credit cycle. If we see a shakeout, it will be healthy as it will prevent deals from being priced incorrectly."
BIS warns of Great Depression dangers from credit spree
By Ambrose Evans-Pritchard
Last Updated: 9:02am BST 25/06/2007
The Bank for International Settlements, the world's most prestigious financial body, has warned that years of loose monetary policy has fuelled a dangerous credit bubble, leaving the global economy more vulnerable to another 1930s-style slump than generally understood.
Construction in Shanghai: BIS warns of Great Depression dangers from credit spree
The BIS said China may have repeated the disastrous errors made by Japan in the 1980s
"Virtually nobody foresaw the Great Depression of the 1930s, or the crises which affected Japan and southeast Asia in the early and late 1990s. In fact, each downturn was preceded by a period of non-inflationary growth exuberant enough to lead many commentators to suggest that a 'new era' had arrived", said the bank.
The BIS, the ultimate bank of central bankers, pointed to a confluence a worrying signs, citing mass issuance of new-fangled credit instruments, soaring levels of household debt, extreme appetite for risk shown by investors, and entrenched imbalances in the world currency system.
"Behind each set of concerns lurks the common factor of highly accommodating financial conditions. Tail events affecting the global economy might at some point have much higher costs than is commonly supposed," it said.
The BIS said China may have repeated the disastrous errors made by Japan in the 1980s when Tokyo let rip with excess liquidity.
advertisement
"The Chinese economy seems to be demonstrating very similar, disquieting symptoms," it said, citing ballooning credit, an asset boom, and "massive investments" in heavy industry.
Some 40pc of China's state-owned enterprises are loss-making, exposing the banking system to likely stress in a downturn.
It said China's growth was "unstable, unbalanced, uncoordinated and unsustainable", borrowing a line from Chinese premier Wen Jiabao
In a thinly-veiled rebuke to the US Federal Reserve, the BIS said central banks were starting to doubt the wisdom of letting asset bubbles build up on the assumption that they could safely be "cleaned up" afterwards - which was more or less the strategy pursued by former Fed chief Alan Greenspan after the dotcom bust.
It said this approach had failed in the US in 1930 and in Japan in 1991 because excess debt and investment built up in the boom years had suffocating effects.
While cutting interest rates in such a crisis may help, it has the effect of transferring wealth from creditors to debtors and "sowing the seeds for more serious problems further ahead."
The bank said it was far from clear whether the US would be able to shrug off the consequences of its latest imbalances, citing a current account deficit running at 6.5pc of GDP, a rise in US external liabilities by over $4 trillion from 2001 to 2005, and an unpredented drop in the savings rate. "The dollar clearly remains vulnerable to a sudden loss of private sector confidence," it said.
The BIS said last year's record issuance of $470bn in collateralized debt obligations (CDO), and a further $524bn in "synthetic" CDOs had effectively opened the lending taps even further. "Mortgage credit has become more available and on easier terms to borrowers almost everywhere. Only in recent months has the downside become more apparent," it said.
CDO's are bond-like packages of mortgages and other forms of debt. The BIS said banks transfer the exposure to buyers of the securities, giving them little incentive to assess risk or carry out due diligence.
Mergers and takeovers reached $4.1 trillion worldwide last year.
Leveraged buy-outs touched $753bn, with an average debt/cash flow ratio hitting a record 5:4.
"Sooner or later the credit cycle will turn and default rates will begin to rise," said the bank.
"The levels of leverage employed in private equity transactions have raised questions about their longer-term sustainability. The strategy depends on the availability of cheap funding," it said.
That may not last much longer.
I agree, I'm planning on trading only d'turtle next month...USD/JPY
I'm passing on d'silver and d'gold plays for now, but I do reserve the right to buy at the top and sell at the bottom of the Forex market.
long - USD/JPY @ 123.049 closed 123.148
long - GBP/JPY @ 246.036 closed 246.264
long - AUD/JPY @ 103.571 closed 103.639
long - EUR/JPY @ 165.634 closed 165.770
taken my winning and calling it a night - good-luck
long - USD/JPY @ 123.049
long - GBP/JPY @ 246.036
long - AUD/JPY @ 103.571
long - EUR/JPY @ 165.634
I'm wait'n to see if it breaks 103.60...all of the other horses are wait'n
USD/JPY
GBP/JPY
CAD/JPY
EUR/JPY
Looks like a false start
It's better than One Step Forward then Two Steps Back...
I think I win d'prize
1st trade - down $650
- news comes out that d'Chineses and Russians our short squeeze'n and all my positions turn against me...
2nd trade - up $150
- bought near the bottom and sold out for pocket change
If you want to make money tonight, do the opposite of what I post...
Canary trades
Short USD/JPY @ 122.916
Short CAD/JPY @ 114.844
Short GBY/JPY @ 245.665
Short AUD/JPY @ 103.146
Short EUR/JPY @ 165.284