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Anyone here into FOREX?

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OceanView said:
I bought based on no change. Meaning that the no change will make the CAD less attractive and the USD more attractive. Am I wrong in my thinking?
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No, that's a fair assumption, however as I alluded to above, the wording was more hawkish than usual so it could have easily gone the other way from a fundamental point of view. From a technical point of view, the pair has seen so much weakness though that this upward correction was not a surprise with no hike being announced.

Thanks for clarifying! :cool:
 
I made 8 pips on UK GDP...I was a little hesitant because of the 0.1 deviation but I got a few pips anyway :D

Did you guys trade it?
 
No exciting trades for sure. About 4 pips on eur/usd report.. and then 9 pips on UK report (pound seems to jump up on any little deviation) .. and then 4 pips on the US report.. hardly any deviation. Again, pound went down a bit.. and jumped right back up.

I wish there were aussie reports coming out :D Oh wait, nzd interest rate statement and trade balance today.. should be fun.
 
Yeah, not many pips to be had today. I didn't trade early this morning (decided to get a good sleep instead as I have a blood donation today) but I traded the US data - based on the #s I would have thought a bigger move, however it didn't happen until after the trade! ;) Made 5 pips on the news and got out - looks like I could have made another 10 if I had stayed in, but then that wouldn't have been news trading now would it? :p ;)

NZ announcement could be interesting, too bad I'll be at work for that one...
 
Yes, perfect trade on the EURUSD! :D Bought at 1.3640, sold at 1.3650, pretty much the exact bottom and exact top of the range! :cool:

I had my GBPUSD ready to sell, just in case, but didn't think it would happen which I why I focused on my EURUSD instead - I've made a few observations over the months and noticed that for this specific report, bad news has always made the currency move, however good news (unless it's really good news) has resulted in not much movement...

Anywho, I'll be at work at the time, but good luck to everyone on the NZD trades today! :)
 
OMG! that was a wild ride!

Can anyone explain why it was so volatile?
Also, why is it now lower than before the announcement?
 
OceanView said:
OMG! that was a wild ride!

Can anyone explain why it was so volatile?
Also, why is it now lower than before the announcement?
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You have to look at the price levels before the news report. NZD/USD has been climbing up quite a bit since the last week.. because most people did expect a rate hike.

So eventually, when the hike happened.. it didn't have much room to move up as it was already so high. And then there has to be correction, profit taking.. had NZ kept rates the same, you would have seen a 100 pip drop.
 
man, I stayed out of that one. I saw it jump up 20 or so pips before TTN said anything and I had been reading today that the central bank wants NZD to go down so when I saw it jump up, I just decided not to trade.

OceanView, I think the reason it went down after the report was because the central bank guy said that NZD is at "unjustifiably high levels". I could be wrong but thats the only reason I see for it going down.

Edit: Yeah, what MP said.
 
Thanks for the explanations guys.
I am still learning and trying to understand everything about this market, if that's possible :rolleyes: .

Hope we can make some pips on the NZD trade balance report coming up.
 
nhallmark said:
OceanView, I think the reason it went down after the report was because the central bank guy said that NZD is at "unjustifiably high levels". I could be wrong but thats the only reason I see for it going down.
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Haha.. these guys are funny. They always talk about how high aussie $, nz $ is.. etc.. but these carry trade hedge fund managers don't give a damn. They just want the high interest returns.. apart from the interest rate, there is really no reason why the nz $ should be so high.

The extremely high levels are hurting nz exporters. It's a weird situation, they probably have tons of money in the bank from all the investments, but their local economy is probably going to start to suffer.
 
Music_Producer said:
Haha.. these guys are funny. They always talk about how high aussie $, nz $ is.. etc.. but these carry trade hedge fund managers don't give a damn. They just want the high interest returns.. apart from the interest rate, there is really no reason why the nz $ should be so high.

The extremely high levels are hurting nz exporters. It's a weird situation, they probably have tons of money in the bank from all the investments, but their local economy is probably going to start to suffer.
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Yeah, that's basically what I was reading this morning. Now, Im looking at the NZD/USD chart and it looks a lot like NFP :p

Do you think anyone will care enough about the trade balance since they just hiked rates...i.e. do you think we will still see a move on it?

Edit: Have you guys checked out AAPL after the earnings report? Its finally over 100.
 
No trade on NZD trade balance...it didn't move anyway.

Are you guys going to watch the CAD monetary policy report in the morning. FF has it marked red so Ill probably watch it but I wouldnt have a clue what to trade on if there was a trade.
 
nhallmark said:
No trade on NZD trade balance...it didn't move anyway.

Are you guys going to watch the CAD monetary policy report in the morning. FF has it marked red so Ill probably watch it but I wouldnt have a clue what to trade on if there was a trade.
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I won't be trading the CAD in the morning. I don't think there will be any significant announcements, but then who knows. :confused:
Gonna take the time to get some work done. But I will be looking to trade on Friday's GDP reports.

Which report is more important by the way, the Annualized or Deflator Annualized?
 
Damn it :mad: I got a requote on japan industrial production. It was only good for 10-12 pips but still..

Did you guys trade it?
 
I watched it, but with several reports coming out like that I decided not to trade it, as it whipsawed around fairly well - up 10 pips, down 10 pips...

I'll keep an eye on the NZ news tonight and of course there's the good old BoJ! :D
 
nhallmark said:
Damn it :mad: I got a requote on japan industrial production. It was only good for 10-12 pips but still..

Did you guys trade it?
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Nope, I don't like trading jpy reports.. they don't really give me good profits.. and if they do, they keep jumping up and down. sidetracking again, but any of you have a plasma tv/projector? I want a plasma, but don't like the way it looks up close.. then again, the projector seems much more appealing.. I'll be using it for movies and playing games at home.

I've seen a few plasmas in studios but again, didn't quite like them much.

Edit : - I'm only trading US GDP tomorrow
 
I got 29 pips on US GDP!!!:D I traded EUR/USD this time just to switch it up.

Its April 27th and I have successfully made 300% of my account this month ;) :cool:

damn, thats a good way to end the week :D
 
Lol @dumb feds.. practically every US report is disappointing. Made 21 pips today.. could have made 40 pips, but f@cking CMC.. wouldn't let me close my position for at least 30 seconds. The message "Please wait before placing next order" kept popping up.. if I ever get my hands on the operator who was giving me that bullsh*t.. damn!!

Luckily, gbp stayed well above pre-news price. Bah.. I had a feeling GDP was going to be disappointing anyway, I don't know why I didn't buy gbp/usd earlier.. guess I didn't want to take a risk.
 
nhallmark said:
I got 29 pips on US GDP!!!:D I traded EUR/USD this time just to switch it up.

Its April 27th and I have successfully made 300% of my account this month ;) :cool:

damn, thats a good way to end the week :D
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WOW!

That's awesome!
Are you still using CMC Markets?
 
Yeah, Im still with CMC. Im opening an account with ADM but thats still in
progress...I'll let you know how they are once I get my account set up.

Did you trade it, OceanView?
 
nhallmark said:
I got 29 pips on US GDP!!!:D I traded EUR/USD this time just to switch it up.

Its April 27th and I have successfully made 300% of my account this month ;) :cool:

damn, thats a good way to end the week :D
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Nice job!! Pretty soon you won't even care to keep an account of how much gain you've been making.. you'll be so used to it ;) That is, of course, if our brokers don't mess with our trades.

Nice start to the weekend.. and it's me and the wife's anniversary.. combine that with a profitable week.. *bliss* :D
 
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