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are you out west? I am guessing you must be because it is 6:30 where I am. I used to get so tired in the last hour of work and that was when I only had one kid. I haven't worked outside the home really since before my oldest son - who turned 19 yesterday - was born. Doesn't seem that long ago lol. I am long the gpb/jpy from 141.65 hope I don't regret not taking my profits here....
thanks Omar. Good luck with your trade.
yeah wouldn't that be something only winning trades lol.
I am ten for ten today with 95 pips to the good. Feeling a little more confident, but not too much!!
wild swing for the usd/jpy this week.
lol that is why I hate to open my mouth I always think that will happen.
congrats Omar!
quit on my EUR/GBP short too soon.
I haven't been trading really I had decided that it was too risky this week. I have other things to take care of, taxes for me and a few friends, and thought I would get some spring cleaning done....going to try a eur/gbp short`here though, not so risky maybe as anything to do with the usd.
12:35 EUR/GBP: UK Clearer Says Cross "Most Overvalued Since Aug 1995" London, March 31. A UK clearer"s in-house model suggests that EUR/GBP is currently overvalued by 6.8%--its most extreme level since August 1995, when the bank first started collecting data. The clearer has written that EUR/GBP has only been overvalued by more than 5% on one previous occasion--the last two weeks of 2008. The bank says the cross was overvalued by 6.0% in the week beginning Monday December 22 and overvalued by 6.5% in the week beginning Monday December 29. EUR/GBP posted a record high of 0.9805 on Tuesday December 30.
The UK clearer recently issued a trade recommendation to sell EUR/GBP, targeting 0.8300 over six months, with a stop-loss at 0.9520. The cross most recently traded at 0.8300 on December 1 last year. Pre-0.9500 option barrier defence-related supply helped to cap the cross at an eight-week peak earlier this month (March 18, post-FOMC statement).
Barclays has entered exclusive negotiations with private equity group CVC Capital Partners to sell the exchange traded funds business of its iShares subsidiary in a deal worth about GBP 3bn (FT website). CVC Capital Partners is headquartered in Luxembourg, according to its website.
The OECD, meanwhile, predicts that Britain will escape with one of the shallowest recessions in the rich world (Telegraph website).
Touted month-end related buying from a major EZ National Bank helped inflate EUR/GBP to a London morning intra-day high of 0.9318. Today"s Asian session range was 0.9239-0.9268. Robert.Howard@thomsonreuters.com
and out already Case Shiller coming out at 9. Tiny gain.
going to try a eur/usd short here at 1.3329
My daughter opened an account I am excited for her to learn, though this would never be something she did full time- medicine is her interest- having a part time trading partner should be cool
China clearly sees an opportunity in the mess to effect a shift in the balance of power and they are going for it.
this is why I had decided to lay off trading this week just can't tell what might happen or be said or speculated upon
01:01 EUR/USD: Talk That G20 IMF Deal Could Result In USD Sales Sydney, March 31: Analysts that are closely monitoring the G20 Summit in London are saying that a deal between China, the G20 and the IMF could result in USD selling flows.
According to the Wall Street Journal Chinese officials have said the country could contribute in ways that don"t require an immediate overhaul of the organization, for instance by buying bonds issued by the IMF. The Wall Street Journal article went on to say: "China seems to want to strengthen and redirect the IMF, not undermine it. Central bank governor Zhou Xiaochuan'" proposal last week for a new global reserve currency would give the IMF even greater clout."
Analysts indicate that sources close to the G20 indicate that a deal might be hammered out whereby China is instrumental in boosting the resources of the IMF from the current 250 BOLN USD to a target of 500 BLN USD by purchasing IMF issued bonds. Under the current charter this is not possible, but the G20 coould recommend that it be changed to allow the issuance and it would be in a basket of currencies that would resemble the make up of SDRs.
Analysts say that if this arrangement was agreed to, it might result in China having to further diversify their FX reserves out of US dollars and into a basket of currencies. --John.Noonan@thomsonreuters.com
don't forget it is the fiscal year end for Japan so may be some surprises.....
certainly the idea is not being dismissed outright. Guess I have to read more about the mechanics
lol more importantly you are going to have a nice place to live.
how's the job
you should keep a log and then look over a whole month. I think I will try and do the same. Some weeks are harder than others more news events pms sick kids but if you have a whole month or two to look at you probably have a pretty good picture of how you are doing. But that was a good week it is hard to come back from such a loss. I am still not even close to coming back from mine last week.
I did a few little trades earlier but have been done for the day for a while now. Idzi has not been around for at least a week.
I was thinking of taking my account balance out of view and just focusing on the trades.
congrats on a great week Omar. You bounced back fast.
month end quarter end, Japanese fiscal year end. Plus big G20 meeting with continued yapping coming from heads of state and ECB rate decision. I am considering just taking next week off. I know that would be the smart thing to do. I could just go heavy on the spring cleaning, get my paperwork back in tip top order and then the following week I don't have to drive kids anywhere so can trade more comfortably.....maybe I will have my daughter take my laptop to work.....
when things are all a mess why not drink before noon?? yeah I am disappointed with Obama in this area, I was hoping for you know "change". I was saying to my daughter yesterday I am now hoping he is just being crafty, gaining their trust and then planning to outmaneuver them, maybe Geithner is helping him he is certainly smart enough. Otherwise all the other stuff is just a pretty dress up dance because everything really in the end is being controlled by these guys and their friends in the Federal Reserve.
regaining confidence is the biggest hurdle and learning to step back when you don't have it also an aquired discipline. Some weeks I just feel good I didn't lose more lol. This week I lost some more at the beginning but then quit trying to force it recouped some and feel good about that.
sigh:
Obama Seeks Input of Bank CEOs on Recovery Plans- AP
President Barack Obama wants to hear from the chief executives of some of the country's biggest banks as he caps a week in which he clarified his overall plan for stabilizing the financial system.
not the Eur no lol. And there was something else yesterday in the UK Telegraph that indicated that the EU maybe be ready to do some quantitative easing.
well Japan passed a bill to make reptriating funds more attractive and also this out of Europe:
09:42 EUR/USD: Hit After Steinbrueck Comments London, March 27th. Germany"s Fin Min Steinbrueck said the EUR would come under threat if the EU"s Stablity and growth pact is not taken seriously. His comments saw the EUR hit hard from the mid 1.35"s to 1.3478 before finding support, but back under pressure to probe sub 1.3470 since. A US Investment house was responsible for the bulk of the initial EUR selling. Same name though to be short a 1.34/1.3750 DNT (Held by an Asian sovereign) which expiries near term - thus expect some battling around 1.3400 if market manages those lows. Richard.Pace@Thomsonreuters.com
quarter end and fiscal year end for Japan. Trade with caution.
I went long the GBP/JPY last night too but then read that Japan had passed their own version of tax breaks if companies chose to repatriate funds so bailed for a small loss.
saw before I left to drive the kids to school how low it had gone and thought of you nice call, congrats!
lol first I read it as your colleague called you out at the office.
taking a stab long here though I suspect it goes lower first, Eur/usd long at 1.3507
yup and now that they have the cash to do it all over again they just get richer. That being said, I would much rather be the piss poor sorry little person I am than have sold my soul to the devil to be rich any day. In the meantime it looks like the Chinese are going to try leverage recent events to create a shift in the balance of financial and therefore global political power.
Oh I didn't write that that was from the Rolling Stone article. I am sure there is some slant in there but not a lot I don't think.
As complex as all the finances are, the politics aren't hard to follow. By creating an urgent crisis that can only be solved by those fluent in a language too complex for ordinary people to understand, the Wall Street crowd has turned the vast majority of Americans into non-participants in their own political future. There is a reason it used to be a crime in the Confederate states to teach a slave to read: Literacy is power. In the age of the CDS and CDO, most of us are financial illiterates. By making an already too-complex economy even more complex, Wall Street has used the crisis to effect a historic, revolutionary change in our political system — transforming a democracy into a two-tiered state, one with plugged-in financial bureaucrats above and clueless customers below.
The most galling thing about this financial crisis is that so many Wall Street types think they actually deserve not only their huge bonuses and lavish lifestyles but the awesome political power their own mistakes have left them in possession of. When challenged, they talk about how hard they work, the 90-hour weeks, the stress, the failed marriages, the hemorrhoids and gallstones they all get before they hit 40.
"But wait a minute," you say to them. "No one ever asked you to stay up all night eight days a week trying to get filthy rich shorting what's left of the American auto industry or selling $600 billion in toxic, irredeemable mortgages to ex-strippers on work release and Taco Bell clerks. Actually, come to think of it, why are we even giving taxpayer money to you people? Why are we not throwing your ass in jail instead?"
But before you even finish saying that, they're rolling their eyes, because You Don't Get It. These people were never about anything except turning money into money, in order to get more money; valueswise they're on par with crack addicts, or obsessive sexual deviants who burgle homes to steal panties. Yet these are the people in whose hands our entire political future now rests.
Good luck with that, America. And enjoy tax season.
Which, of course, is exactly the opposite of what should be happening, since small, regional banks are far less guilty of the kinds of predatory lending that sank the economy. "They're not giving out subprime loans or easy credit," says Wheeless. "At the community level, it's much more bread-and-butter banking."
Nonetheless, the lion's share of the bailout money has gone to the larger, so-called "systemically important" banks. "It's like Treasury is picking winners and losers," says one state banking official who asked not to be identified.
This itself is a hugely important political development. In essence, the bailout accelerated the decline of regional community lenders by boosting the political power of their giant national competitors.
Which, when you think about it, is insane: What had brought us to the brink of collapse in the first place was this relentless instinct for building ever-larger megacompanies, passing deregulatory measures to gradually feed all the little fish in the sea to an ever-shrinking pool of Bigger Fish. To fix this problem, the government should have slowly liquidated these monster, too-big-to-fail firms and broken them down to smaller, more manageable companies. Instead, federal regulators closed ranks and used an almost completely secret bailout process to double down on the same faulty, merger-happy thinking that got us here in the first place, creating a constellation of megafirms under government control that are even bigger, more unwieldy and more crammed to the gills with systemic risk.
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In essence, Paulson and his cronies turned the federal government into one gigantic, half-opaque holding company, one whose balance sheet includes the world's most appallingly large and risky hedge fund, a controlling stake in a dying insurance giant, huge investments in a group of teetering megabanks, and shares here and there in various auto-finance companies, student loans, and other failing businesses. Like AIG, this new federal holding company is a firm that has no mechanism for auditing itself and is run by leaders who have very little grasp of the daily operations of its disparate subsidiary operations.
In other words, it's AIG's rip-roaringly shitty business model writ almost inconceivably massive — to echo Geithner, a huge, complex global company attached to a very complicated investment bank/hedge fund that's been allowed to build up without adult supervision. How much of what kinds of crap is actually on our balance sheet, and what did we pay for it? When exactly will the rent come due, when will the money run out? Does anyone know what the hell is going on? And on the linear spectrum of capitalism to socialism, where exactly are we now? Is there a dictionary word that even describes what we are now? It would be funny, if it weren't such a nightmare.
When one considers the comparatively extensive system of congressional checks and balances that goes into the spending of every dollar in the budget via the normal appropriations process, what's happening in the Fed amounts to something truly revolutionary — a kind of shadow government with a budget many times the size of the normal federal outlay, administered dictatorially by one man, Fed chairman Ben Bernanke. "We spend hours and hours and hours arguing over $10 million amendments on the floor of the Senate, but there has been no discussion about who has been receiving this $3 trillion," says Sen. Bernie Sanders. "It is beyond comprehension."
http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print
you have been on a roll all week. More and more I think that this would be a much more successful endeavor with a team managing one account. You would have to find the right combo of people who can be both confident and humble and work well as a team- although I imagine that most of us are sort of lone rangers which is why we are doing this instead of "working for the man".