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the least I could do to for you, because your about to take one for the team.....
two weeks of federal furloughs for civilian employees
I was pretty damn lucky last week on my trade eur/usd holding it from the close over the weekend..so pushing my luck on friday I bought usd/jpy at the close ,now the question is ,will pick ur pockets sunday pick my pockets....or will my pockets be filled again.? at least this time I put a stop in....,its a very good possibility,that the trade will just inch slowly sideways,and keep me stuck for a day or so .... technical ,we should see usd/jpy come close to 89,and here is what action forex says..
at least thats what im banking on....
USD/JPY Weekly Outlook
USDJPY Outlook | Written by ActionForex.com | Sep 18 10 14:57 GMT
USD/JPY Weekly Outlook
USD/JPY staged a sharp reversal and rebounded strongly from 82.86 last week. Though, the strong rebound hit resistance of 85.89 and struggled to break through and turned sideway way. With 4 hours MACD staying below signal line, initial bias is neutral this week and we'd possibly see some retreat first. Though, downside should be contained by 84.77 cluster support and bring another rise. Sustained trading above 85.89 will turn bring stronger rally towards medium term fibo level at 38.2% retracement of 94.97 to 82.86 at 87.46 next. However, break of 84.77 will indicate that rebound from 82.86 might be finished and will flip intraday bias back to the downside for retesting this low.
In the bigger picture, considering bullish convergence condition in daily MACD, fall from 94.97 might have made a medium term low at 82.86. Though, we'd prefer to see decisive break of 85.89 resistance before confirming. In such case, stronger rally should be seen to 55 weeks EMA (now at 90.23) and above. On the downside, though, break of 82.86 support is needed to confirm down trend resumption to 79.75 low. But even in case, we'll be cautiously looking for more sign of loss of momentum in case of further decline.
In the long term picture, there is no indication of trend reversal yet and USD/JPY 's long term down trend could still extend further to 1995 low of 79.75. However, we'd be cautious on any sign of loss of momentum and reversal on next fall. Break of 94.97 resistance will now be an important signal of trend reversal.
good reading with your sunday morning coffee.......
Secrets of successful Forex Scalping
Absolutely !
Unexpectedly for who?.....who are these people..i have some property i would like to sell them...the brooklyn bridge..selling it cheep..$50,00,and also a few high rises in fort lee ,NJ.just make me an offer..
Consumer Sentiment Unexpectedly Falls
Consumer sentiment declined in September to its weakest level since August 2009 as concerns about jobs and finances intensified, a new survey shows.
watching charts ,news,day in day out forever ,I see things that the casual trader dont..I have to admit , neither rhyme or reason has very little to do with short term market activity....I am convinced ,it all hedges on algorithms and animated trading these days. everything now days is animated....where did the real world go?
give you all a little tip from the gypsy....look at your short term chart ..get in a trade ,which ever way it goes ,dont hesitate to get out of a trade ,take a 20 pip loss(20 pips should tell you your on the wrong side) ,jump back in and take it the way it goes...period.
Bernanke Shadow of Easing Limits BOJ Success With Yen Weakness
Bank of Japan Governor Masaaki Shirakawa ’s success in weakening the yen may hinge on Ben S. Bernanke .
yea right ..Ben wants the dollar to disappear and go to the SDR..
who knows at this point who will win ..our federal reserve or the world..im betting on the world....meaning a stronger dollar like ive always said..the feds are no longer in total control.!
Putting an End to SECrecy
Ahead of a key hearing Thursday, Rep. Darrell Issa introduced a bill to undo a controversial section of the Wall Street reform law that allows the SEC to refrain from sharing certain public information.
Import Prices Jump
Thanks to higher petroleum and food costs, import prices rose faster than expected in August, recording their largest increase in four months.
Dollar Pressures Stocks
Futures fell modestly after the Japanese government intervened in the value of its yen.
NY Fed Manufacturing Growth Slows
A gauge of manufacturing in New York fell to its lowest level in more than a year in September.
EU Unveils Short-Selling Curbs
The EU unveiled proposals to curb or temporarily ban short-selling and tighten controls on derivatives.
Japan Intervenes to Weaken Yen
Trying to stop the currency's relentless climb, Japan sold the yen in the market for the first time in six years.
More Sellers Cut Home Prices
To lure buyers into the market, homeowners slashed their asking prices again last month.
Reid Adding Amnesty Measure to Defense Bill
Senate Majority Leader aims to attach an amendment to a defense policy bill that would help young people who are in the country illegally become legal U.S. residents.
Like we have enough jobs to go around for our own young people....
Reid needs to go! tired of his smug wisdom....!!!they use them to build prisons for our young people!!!
and yes it was very subtle.......
it came on like a tsunami..you saw water come up over the shoreline that u thought would stop and and the water just keeps comming from nowhere..scares you in and out of trades,and actually robs the trend traders.......
i was lucky and happened to be trading the majors instead of the crosses at the time... been a very good day for me..might even go to bed early tonight..
;)
well the treasury dept is in cahoots..
one way of allowing us purchasing power without raising interest rates,and allowing manipulated inflation without leaving the few who have jobs ,not completely broke and tolerated..so in our eyes,its a good thing while they go about the true business behind smoke and mirror to complete the objective of the real new world order..
U.S. Treasury Declines to comment on Japan's intervention
Japan appears to have intervened in FX mkt -Kyodo
TOKYO, Sept 15 | Tue Sep 14, 2010 9:45pm EDT
(Reuters) - Japan appears to have intervened in the foreign exchange market, Kyodo news agency reported, citing a market source.
Japan appears to have bought the dollar and sold the yen, Kyodo said.
IMF fears 'social explosion' from world jobs crisis
America and Europe face the worst jobs crisis since the 1930s and risk "an explosion of social unrest" unless they tread carefully, the International Monetary Fund has warned.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/8000561/IMF-fears-social-explosion-from-world-jobs-crisis.html
Yen Touches 15-Year High Versus Dollar After Voting in Japan
The yen reached a 15-year high of against the dollar after Prime Minister Naoto Kan beat his rival Ichiro Ozawa in a party vote today, reducing the likelihood the government will take steps to weaken the currency.
Swiss Franc Reaches Parity With Dollar for the First Time Since December 4
The Swiss franc strengthened to parity with the dollar for the first time since December as concern the global economic recovery is faltering drove investors to the perceived safety of the currency.
The genitalia-washing program is part of a larger $12-million UCLA study examining how to better encourage Africans to undergo voluntary HIV testing and counseling – however, only the penis-washing study received money from the 2009 economic stimulus law. The washing portion of the study is set to end in 2011.
http://cnsnews.com/news/article/75198
wish i would of thought of that...
lol
Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program
Monday, September 13, 2010
By Matt Cover
The AIDS awareness symbol is used for earrings and pendants made at a counseling center in Chennai, India. (AP File Photo/M. Lakshman)
(CNSNews.com) – The National Institute of Mental Health (NIMH), a division of the National Institutes of Health (NIH), spent $823,200 of economic stimulus funds in 2009 on a study by a UCLA research team to teach uncircumcised African men how to wash their genitals after having sex.
Yen Rises Before Election on Waning Intervention Prospects; Kiwi Declines
The yen climbed from a one-week low versus the euro before an election today that will determine the leader of the ruling Democratic Party of Japan.
131 Trading Tips
3. Nobody is bigger than the market.
4. The challenge is not to be the market, but to read the market. Riding the wave is much more rewarding than being hit by it.
5. Trade with the trends, rather than trying to pick tops and bottoms.
6. Trying to pick tops and bottoms is another common fx trading mistake. If you're going to trade tops and bottoms, at least wait until the price action actually confirms that a top or a bottom has been formed before you take a position in the market. Trying to pin-point tops and bottoms in the foreign exchange market is very risky, but exercising a little patience and waiting for a proven top or bottom to form can increase your odds of profiting and somewhat reduce your risk.
7. There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each.
8. Standing aside is a position.
9. In uptrends, buy the dips ;in downtrends, sell bounces.
10. In a Bull market, never sell a dull market, in Bear market, never buy a dull market.
11. Up market and down market patterns are ALWAYS present, merely one is more dominant. In an up market, for example, it is very easy to take sell signal after sell signal, only to be stopped out time and again. Select trades with the trend.
12. A buy signal that fails is a sell signal. A sell signal that fails is a buy signal.
13. Let profits run, cut losses short.
14. Let your profits run, but don't let greed get in the way. Once you've already made a nice profit on a trade, consider taking either some or all of the money off the table and move on to the next trade. It's natural to hope that one trade will end up as your "winning lottery ticket" and make you rich, but that is simply not realistic. Don't hold the position too long and end up giving all your well-deserved profits back to the market.
15. Use protective stops to limit losses.
16. Use appropriate stop-loss orders at all times to cut your losses and never, ever sit back and let your losses run. Almost every trader at some point makes the mistake of letting his or her losses run in hopes that the market will eventually turn around in his or her favor but, more often than not, it simply leads to an even greater loss. You win some, you lose some. Simply learn to cut your losses, take your occasional lumps and move on to the next trade. And if you made a mistake, learn from it and don't do it again. To avoid letting your losses run, get into the habit of determining an acceptable profit target as well as an acceptable risk tolerance level for each and every forex trade before entering the market. Then simply place a stop-loss order at the appropriate price - but not so tight (close to the market) that the stop could quickly take you out of the position before the market has a chance to move in your favor. Using a stop is always the smart move.
17. Avoid placing protective stops at obvious round numbers. Protective stops on long positions should be placed below round numbers (10, 20, 25, 50,75, 100) and on short positions ,above such numbers.
18. Placing stop loss is an art. The trader must combine technical factors on the price chart with money management considerations.
19. Analyze your losses. Learn from your losses. They're expensive lessons; you paid for them. Most traders don't learn from their mistakes because they don't like to think about them.
20. Stay out of trouble, your first loss is your smallest loss.
21. Survive! In forex trading, the ones who stay around long enough to be there when those "big moves" come along are often successful.
22. If you are a new trader, be a small trader (mini account) for at least a year, then analyze your good trades and your bad ones. You can really learn more from your bad ones.
23. Don't trade unless you're well financed...so that market action, not financial condition, dictates your entry and exit from the market. If you don't start with enough money, you may not be able to hang in there if the market temporarily turns against you.
24. Be more objective and less emotional.
25. Use money management principles.
26. Money management increases the odds that the trader will survive to reach the long run.
27. Diversify, but don’t overdo it.
28. Employ at least a 3 to 1 reward-to-risk ratio.
29. Calculate the risk/reward ratio before putting a trade on, then guard against holding it too long.
30. Don’t trade impulsively ; have a plan
31. Have specific goals and objectives.
32. Five steps to build a trading system: a) Start with a concept b)Turn it into a set of objective rules. c) Visually check it out on the charts d) Formally test it with a demo e) Evaluate the results.
33. Plan your work and work your plan.
34. Trade with a plan - not with hope, greed, or fear. Plan where you will get in the market, how much you will risk on the trade, and where you will take your profits.
35. Follow your plan. Once a position is established and stops are selected, do not get out unless the stop is reached or the fundamental reason for taking the position changes.
36. Any successful trading system must take into account three important factors: price forecasting , timing , and money management. Price forecasting indicates which way a market is expected to trend. Timing determines specific entry and exit points. Money management determines how much to commit to the trade.
37. Don't cherry-pick your system's set-ups. Trade every signal.
38.Trading systems that work in an up market may not work in a down market.
39. Establish your trading plans before the market opening to eliminate emotional reactions. Decide on entry points, exit points, and objectives. Subject your decisions to only minor changes during the session. Profits are for those who act, not react.Don't change during the session unless you have a very good reason.
40. Double-check everything.
41. Always think in terms of probabilities. Trading is all about thinking in probabilities NOT certainties. You can make all the “right” decisions and the trade still goes against you. This does not make it a “wrong” trade, just one of the many trades you will take which, through probability, are on the “loosing” side of your trading plan. Don’t expect not to have negative trades - they are a necessary part of the plan and cannot be avoided.
42. The place to start your market analysis is always by determining the general trend of the market.
43. Trade only with a strategy that you've proven to yourself.
44. When pyramiding (adding positions), follow these guidelines. a. Each successive layer should be smaller than before.
b. Add only to winning positions.
c. Never add to a losing position. One of the few trade management rules that we can state we never break is ‘Never add to a losing trade’. Trades are split into winners and losers, and if a trade is a loser, the chances of it turning right around and becoming a winner are too small to risk more money on. If indeed it is a winner disguised as a loser, why not wait until it shows it’s true colors (and becomes a
d. winner)before you add to it. If you do this you will notice that nearly always the trade ends up hitting your stop loss and does not look back. Sometimes the trade turns around before it hits your stop and becomes a winner and you can count yourself very fortunate. Sometimes the trade hits your stop loss and then turns around and becomes a winner and you can count yourself unlucky. Whatever the result, it is never worth adding to a loser, hoping that it will become a winner. The odds of success are just too low to risk more capital in addition to the initial risk.
e. Adjust protective stops to the breakeven point.
45. Risk Control
A)Never risk more than 3-4 percent of your capital on any trade
B)Predetermine your exit point before you get into a trade
c)If you lose a certain predetermined amount of your starting capital, stop trading, analyze what went wrong, and wait until you feel confident before you begin trading
46. Don’t trade scared money. No one ever made any money trading when they had to do it to pay the mortgage at the end of the month. Having a requirement to make X dollars per month or you will be financially in trouble is the best way I know to completely mess up all trading discipline, rules, objectives, and leads quickly to disaster. Trading is about taking a reasonable risk in order to achieve a good reward. The markets and how and when they give up their profits is not under your control. Do not trade if you need the money to pay bills. Do not trade if your business and personal expenses are not covered by another income stream or cash reserve. This will only lead to additional unmanageable stress and be very detrimental to your trading performance.
47. Know why you are in the markets. To relieve boredom? To hit it big? When you can honestly answer this question, you may be on your way to successful forex trading
48. Never meet a margin call; don’t throw good money after bad.
49. Close out losing positions before the winning ones,
50. Except for very short term trading, make decisions away from the market, preferably when the markets are closed.
51. Work from the long term to the short term.
52. Use intraday charts to fine-tune entry and exit.
53. Master interday trading before trying intraday trading.
54. Don't trade the time frame. Trade the pattern. Reversal patterns, hesitation patterns and breakout patterns appear often. Learn to look for the pattern in any time frame.
55. Try to ignore conventional wisdom; don’t take anything said in the financial media too seriously.
56. Always do your homework and stay current on global events. You never know what's going to set off a particular currency on any given day.
57. Learn to be comfortable being in the minority. If you are right on the market, most people will disagree with you. (90% losers,10% winners).
58. Technical analysis is a skill that improves with experience and study. Always be a student and keep learning.
59. Beware of all tips and inside information. Wait for the market's action to tell you if the information you've obtained is accurate, then take a position with the developing trend.
60. Buy the rumor, sell the news.
61. K.I.S.S – Keep It Simple Stupid, more complicated isn’t always better.
62. Timing is especially crucial in forex trading.
63. Timing is everything in forex trading. Determining the correct direction of the market only solves a portion of the trading problem. If the timing of the entry point is off by a day ,or sometimes even minutes ,it can mean the difference between a winner or a loser.
64. A “buy and hold” strategy doesn’t apply in forex trading
65. When you open an account with a broker, don't just decide on the amount of money, decide on the length of time you should trade. This approach helps you conserve your equity, and helps avoid the Las Vegas approach of "Well, I'll trade till my stake runs out." Experience shows that many who have been at it over a long period of time end up making money.
66. Carry a notebook with you, and jot down interesting market information. Write down the market openings, price ranges, your fills, stop orders, and your own personal observations. Re-read your notes from time to time; use them to help analyze your performance.
67. Don't count profits in your first 20 trades. Keep track of the percentage of wins. Once you know you can pick direction, profits can be increased with multi-plot trading and variations in using your stops. In other words, now is the time to get serious about money management.
68."Rome was not built in a day," and no real movement of importance takes place in one day.
69. Do not overtrade.
70. Have two accounts. One real account and the other a demo account. Learning doesn't stop when trading real dollars begins. Keep the demo account and use it to test alternative trades, alternative stops, etc.
71. Patience is important not only in waiting for the right trades,but also in staying with trades that are working.
72. You are superstitious; don't trade if something bothers you.
73. Technical analysis is the study of market action through the use of charts,for the purpose of forecasting future price trends.
74. The charts reflect the bullish or bearish psychology of the marketplace.
75. The whole purpose of charting the price action of a market is to identify trends in early stages of their development for the purpose of trading in the direction of those trends
76. The fundamentalist studies the cause of market movement, while the technician studies the effect.
77. Rising commodity prices generally hint at a stronger economy and rising inflationary pressure. Falling commodity prices usually warn that the economy is slowing along with inflation.
78. The longer the period of time that priced trade in a support or resistance area,the more significant that area becomes.
79. There are three decisions confronting the trader –whether- to go long, go short or do nothing. When a market is rising, the best strategy is preferable. When the market is falling, the second approach would be correct. However, when the market is moving sideways, the third choice –to stay out of the market- is usually the wisest.
80. Channel lines have measuring implications. Once a breakout occurs from an existing price channel ,prices usually travel a distance equal to the width of the channel .Therefore, the trader has to simply measure the width of the channel and then project that amount from the point at which either trendline is broken.
81. The larger the Pattern ,the Great the potential. When we use the term “larger” ,we are referring to the the height and the width of the price pattern. The height measures the volatility of the pattern. The width is the amount of time required to build and complete the pattern. The greater the size of the pattern-that is ,the wider the price swings within the pattern (the volatility ) and the longer it takes to build –the more important the pattern becomes and the greater the potential for the ensuing price move.
82. The breaking of important trendlines . The first sign of an impending trend reversal is often the breaking of an important trendline. Remember however ,that the violation of a major trendline does not necessarily signal a trend reversal.The breaking of a major up trendline might signal the beginning of a sideways price pattern ,which later would be intedified as either the reversal or consolidation type.Sometimes the breaking of the major trendline coincides with the completion of the price pattern.
83. The minimum requirement for a triangle is four reversal points. Remember that it always takes two points to draw a trendline.
84. The moving average is a follower , not a leader. It never anticipates;it only reacts. The moving average follows a market and tells us that a trend has begun, but only after the fact.
85. Shorter term averages are more sensitive to the price action ,whereas longer range averages are less sensitive.In certain types of markets ,it is more advantageous to use a shorter average and ,at other times , a longer and less sensitive average proves more useful.
86. When the closing price moves above the moving average , a buy signal is generated. A sell signal is given when prices move below the moving average.
87. A buying signal on a two-moving average combination occurs when the shorter term of two consecutive averages intersects the longer one upward. A selling signal occurs when the reverse happens, and the longer of two consecutive averages intersects the shorter one downward.
89. Shorter average generates more false signals ,it has the advantage of giving trend signals earlier in the move .The trick is to find the average that is sensitive enough to generate early signals, but insensitive enough to avoid most of the random “noise”.
90. Cutting losses is painful for every trader. The ability to cut one’s losses in time is the sign of a seasoned trader.
91.A channel breakout suggests a target for the currency price equal to the width of the channel.
92. Long term charts provide important information regarding long-terms or cycles. The trader can get a correct perspective regarding the real direction of the market in the long run, the strength or direction of the current trend occurring within that trend, or the possibility of a breakout from the long-term trend.
93. Common Points All Of Reversal Patterms
A)The first signal of an impending trend reversal is often the breaking of an important trendline.
B)The larger the pattern,the greater the subsequent move
C)Topping patterns are usually shorter in duration and more volatile than bottoms.
D)Bottoms usually have smaller price ranges and take longer to build
94. The head-and-shoulders formation is confirmed only when the completion of the three rallies and their reversals is followed by a breach of the neckline. The failure of the price to break through the neckline on closing prices basis puts on hold or negates the validity of the formation.
95. The double-top formation is confirmed only when the full completion of the two rallies and their respective reversals is followed by a breach of the neckline (the closing price is outside the neckline ).The failure of the price to break through the neckline puts on hold or negates the validity of the formation.
96. The flag formation is a reliable chart pattern that provides two vital signals: direction and price objective. This formation consists of a brief consolidation period within a solid and steep upward trend or downward trend. The consolidation itself tends to be sloped in the opposite direction from the slope of the original trend, or simply flat.
97. A Breakaway gap provides the direction of the market.
98. The runaway or measurement gap provides the direction of the market. This gap confirms the health and velocity of the trend.
99. The runaway or measurement gap is the only type of gap that provides a price objective. The price objective is the previous length of the trend, measured from the runaway gap, in the same direction as the original trend.
100. The exhaustion gap provides the direction of the market.
101. Near the beginning of important moves, oscillator analysis isn’t that helpful and can be misleading. Toward the end of market moves ,however ,oscillators become extremely valuable.
102. When the oscillator reaches an extreme value in either the upper or lower end of the band, this suggest that the current price move have gone too far too fast and is due for a correction of some type.
103. The oscillator is most useful when its value reaches an extreme reading near the upper or lower end of its boundaries. The market is said to be overbought when it is near the upper extreme and oversold when it is near the lower extreme. This warns that the price trend is overextended and vulnerable.
104. A divergence between the oscillator and the price action when the oscillator is in an extreme position is usually an important warning.
105.-Oscillator-The crossing of the zero line can give important trading signals in the direction of the price trend.
106.Because of the way it is constructed, the momentum line is always a step ahead of the price movement. It leads the advance or decline in prices , then levels off while the current price trend is still in effect. It then begins to move in the opposite direction as prices begin to level off.
107. RSI is plotted on a vertical scale of 0 to 100. Movements above 70 are considered overbought, while an oversold condition would be a move under 30 .Because of shifting that takes place in bull and bear markets, the 80 level usually becomes the overbought level in bull markets and the 20 level the oversold level in bear markets.
108. The first move of RSI into the overbought or oversold region is usually just a warning. The signal to pay close attention to is the second move by the oscillator into the danger zone. If the second move fails to confirm the price move into new highs or new lows, a possible divergence exists. At that point ,some defensive action can be taken to protect existing positions. If the oscillator moves in the opposite direction, breaking a previous high or low, then a divergence or failure swing is confirmed.
109. Stochastics simply measures , on a percentage basis of 0 to 100, where the closing price is in relation to the total price range for a selected time period. A very high reading (over 80) would put the closing price near the top of the range ,while a low reading (under 20) near the bottom of the range.
110. One way to combine daily and weekly stochastics is to use weekly signals to determine market direction and daily signals for timing(it depends from the type of the trader). It’s also a good idea to combine stochastics with RSI.
111. Most oscillator buy signals work best in uptrends and oscillator sell signals are most profitables in downtrends. The place to start your market analysis is always by determining the general trend of the market. Oscillators can then be used to help time market entry.
112. Give less attention to the oscillators in the early stages of an important move, but pay close attention to its signals as the move reaches maturity.
113.The best way to combine technical indicators is use weekly signals to determine market direction and the daily signals to fine-tune entry and exit points. A daily signal is followed only when it agrees with the weekly signal. (daily-weekly, 4 hour-daily,4 hour-1 hour).
114. The failure of prices to react to bullish news in an overbought area is a clear warning that a turn may be near. The failure of prices in an oversold area to react to bearish news can be taken as a warning that all the bad news has been fully discounted in the current low price. Any bullish news will push prices higher.
115. -Elliot Wave Theory- A complete bull market cycle is made up of eight waves, five up waves followed by three down waves.
116 -Elliot Wave Theory- A trend divides into five waves in the direction of the longer trend.
117-Elliot Wave Theory- Corrections always take place in three waves.
118-Elliot Wave Theory- Waves can be expanded into longer waves and subdivided into shorter waves.
119-Elliot Wave Theory- Sometimes one of the impulse waves extends. The other two should then be equal in time and magnitude.
120-Elliot Wave Theory- The Finobacci sequence is the mathematical basis of the Elliot Wave Theory.
121-Elliot Wave Theory- The number of waves follows the Finobacci sequence.
122-Elliot Wave Theory- Finobacci ratios and retracements are used to determine price objectives. The most common retracements are 62%, 50% and 38%.
123 -Elliot Wave Theory- Bear markets should not fall below the bottom of the previous fourth wave.
124 -Elliot Wave Theory- Wave 4 should not overlap wave 1.
125 .Support and resistance are the most effective chart tools to use for entry and exit points. For purposes of placing stop loss, support and resistance levels are most valuable.
126. One of the commodities most effected by the dollar is the gold market. The prices of gold and the U.S. dollar usually trend in opposite directions.
127. The Yen is sensitive to changes in the price or structure of the raw material markets.
128. The commodity-producing countries (Canada, Australia, N. Zealand ) are more dependent on Japan than the other way around.
129. The Yen is sensitive to the fortunes of the Nikkei index, the Japanese stock market and the real estate market.
130. The majority of the pound transactions take place in London with a volume decreasing significantly in the U.S. market, and slowing down to a trickle in Asia. Therefore, in the New York market, many banks have to stop quoting the pound at noon.
131. Swiss Franc has a very close economic relationship with Germany, and thus to the euro zone.
132. The major markets are London, with 32 percent of the market,New York with 18 percent and Tokyo with 8 percent. Singapore follows with 7 percent, Germany has 5 percent and Switzerland, France and Hong Kong have 4 percent each.
133. Don't use the markets to feed your need for excitement.
Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.
The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.
"The US has run out of bullets," Roubini told an economic forum in Italy earlier this month. "Any shock at this point can tip you back into recession."
But other economists, who have so far stayed out of the media limelight, are also proselytizing nightmarish visions of the future.
Boston University professor Laurence Kotlikoff, who warned as far back as the 1980s of the dangers of a public deficit, lent credence to such dark predictions in an International Monetary Fund publication last week.
He unveiled a doomsday scenario -- which many dismiss as pure fantasy -- of an economic clash between superpowers the United States and China, which holds more than 843 billion dollars of US Treasury bonds.
"A minor trade dispute between the United States and China could make some people think that other people are going to sell US treasury bonds," he wrote in the IMF's Finance & Development review.
"That belief, coupled with major concern about inflation, could lead to a sell-off of government bonds that causes the public to withdraw their bank deposits and buy durable goods."
Kotlikoff warned such a move would spark a run on banks and money market funds as well as insurance companies as policy holders cash in their surrender values.
"In a short period of time, the Federal Reserve would have to print trillions of dollars to cover its explicit and implicit guarantees. All that new money could produce strong inflation, perhaps hyperinflation," he said.
"There are other less apocalyptic, perhaps more plausible, but still quite unpleasant, scenarios that could result from multiple equilibria."
According to a poll by the StrategyOne Institute published Friday, some 65 percent of Americans believe there will be a new recession.
And the view that America is on a decline seems rather well ingrained in many people's minds supported by 65 percent of people questioned in a Wall Street Journal/NBC poll published last week.
"It is true: Today's economic problems are structural, not cyclical," argued New York Times editorial writer David Brooks.
He said the United Sates is losing its world dominance much in the same way the British Empire began to crumble more than a century ago.
"We are in the middle of yet another jobless recovery. Wages have been lagging for decades. Our labor market woes are deep and intractable," Brooks said.
Nobel Economics Prize winner Paul Krugman also voiced concern about the fate of the fragile economic recovery if voters return the Republicans to political power.
"It's hard to overstate how destructive the economic ideas offered earlier this week by John Boehner, the House minority leader, would be if put into practice," he wrote in a recent editorial.
"Fewer jobs and bigger deficits -- the perfect combination."
The Wall Street Journal, usually more favorable to Boehner's call for tax cuts, ran a commentary from another Nobel Prize-winning economist -- Vernon Smith -- that failed to provide much comfort for readers.
"This fact needs to be confronted: We are almost surely in for a long slog," Smith wrote.
And it seems such pessimism has even filtered into the IMF, which warned on Friday that high levels of national debt and a still shaky financial sector threaten to derail the global economic recovery.
"The foreclosure backlog in US property markets is large and growing, in part due to the recent expiration of the home buyer's tax credit. When realized, this could further depress real estate prices."
This could lead to "disproportionate losses" for small and medium-sized banks, which could in turn "precipitate a loss of market confidence in the recovery," the IMF warned.
i must say though,
kinda sounds like u..guess mine will change with my moods in the future.
EURUSD Outlook | Written by ActionForex.com | Sep 11 10 20:32 GMT
EUR/USD Weekly Outlook
The failure to take out 1.2921 resistance last week retained the bearish outlook in EUR/USD, that is, fall from 1.3330 is still in progress and should resume sooner or later. With 4 hours MACD above signal line, some consolidations might be seen initially this week first. Break of 1.2587 support will confirm fall resumption for 61.8% retracement of 1.1875 to 1.3330 at 1.2431 next. However, decisive break of 1.2921 will indicate that fall from 1.3330 is possibly completed and will bring stronger rally to retest this high instead.
In the bigger picture, note that EUR/USD is still limited below 55 weeks EMA (now at 1.3322) and thus, there is no indication of medium term bottoming. Whole decline from 1.6039 is possibly still in progress. Such decline is treated as correction to long term up trend and will target 1.1639 support after taking out 1.1875 low. On the upside, though, above 1.3330 will turn focus back to 55 weeks EMA and sustained trading above there will pave the wave to further rise to upper trend line resistance (1.6039, 1.5143, now at 1.4600).
In the long term picture, considering the five wave impulsive structure of the long term up trend from 2000 low of 0.8223 to 2008 high of 1.6039, price actions from 1.6039 are viewed as a correction only. Hence, we'd expect strong support between 61.8% retracement of 0.8223 to 1.6039 at 1.1209 and 1.1639 support to contain downside and bring another long term up trend. However, note that sustained break of 1.1209 key fibonacci level will dampen this view and open up the case of a take on parity.
Took a long position on eur/usd at the close on friday..looking at todays 3 hr chart,im not so convicted now..,but I think with a little pick your pockets strategy,i might have a chance to make a quick buck..I hope ..I didnt use a stop and fxcm,s platform you cant trade until 5 pm est.... so ill start my week on a gamble.
AND ,MUSLIMS PROTEST!
that one mad tomato.........
did u make it to italy yet?
im still waiting to see,
what profile face u put on ur ihub icon, more than whats happening around the world for the moment.
;)
a trader has to have short time priorities, ya know..
yep,
and having the media rile us up so much,that we just want to git our guns and go hunting in the streets,then be backlashed for a harmless protest to burn a few books,by the president,the media,the fbi........and congress!and not even use it for a tactical advantage to lure out the radicals..what a waste .after a few book burnings ,we might be able to get rid of the airport scanners.
its all a scam like u said to invade iran,and NK....
interesting..
im still at odds as to the real ruler of the USA,let alone the real truths about whats happening in other countries.....,
this is too funny.....
;)
Christians rips a page from Muslim holy book in front of White House...
Guess thats showing them not to run planes into our buildings ever again,!!!! and to show washington we will rip pages if we have too...! dont tempt us!..
take away our guns but we still have fingers,,,dont tempt us!
and for the internet experts..
http://www.bombaybookclub.com/download/A%20Short%20History%20Of%20Nearly%20Everything.pdf
I added it.
thanks,looks like something I would read.....
;)
learned a little trick about finding free books for the novice..
in the search on B&N,type in 0.00and look through the almost 10,000 free books to choose from.
but I did just get my..
Barns and noble nook!!
mwwwwhaaahaahah.
youre making me feel like snidely whiplash without the stash.!