Lol @ -17k. Where all the stupid optimists now (that I see in the political forums thread.. saying that more jobs have been created) Sweet 117 pips on GBP/JPY. Looking to sell rallies.. but I'll be careful since today is a Friday and profit taking might take place (although that should be later on)
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Anyone here into FOREX?
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Holy crap! Once again, as I've said over and over, the US is hurting and anyone who thinks the recession is over, blah blah blah, it hasn't even begun.
Made 48 pips cumulative on the EURUSD (initial trade plus retrace) - great trade! But man, I was watching the GBPJPY for the first time during a news announcement - wow.
It's pretty much down 200 pips. If I would have known I would have shorted it, but now I feel it might be too late to get in on the action and there will most likely be a retrace of some sort...
Made 48 pips cumulative on the EURUSD (initial trade plus retrace) - great trade! But man, I was watching the GBPJPY for the first time during a news announcement - wow.
It's pretty much down 200 pips. If I would have known I would have shorted it, but now I feel it might be too late to get in on the action and there will most likely be a retrace of some sort...Holy crap! Once again, as I've said over and over, the US is hurting and anyone who thinks the recession is over, blah blah blah, it hasn't even begun.
Made 48 pips cumulative on the EURUSD (initial trade plus retrace) - great trade! But man, I was watching the GBPJPY for the first time during a news announcement - wow.
Get in man! I've made 210 pips so far.. just shorting every time it goes up (to 210.20) I'm done now.. phew.. that was the best. Same as last time.. when report came out 18k and GJ plunged 150+ pips. I love GJ during NFP
Edit - Wow I never noticed how badly GU got dragged. It has been on a downtrend since the last hour or so.. lot of banks selling the pound. Wonder what the hell's going on? Maybe just taking positions before they shoot it up towards 2.00? Who knows..no wonder GJ's getting really beat - both by GU and UJ
GY was 15-18 pips.. at one time it went to 25 but was for a split second.
Markets.. don't you know? They all smoke weed and trade. Basically bad jobs = more chances of rate cuts. So the markets dance. Don't ask me how these guys get paid so much, when their collective common sense is like horse manure.
Edit - wait.. I just realized.. microsoft bought Yahoo? WTF?? What a dumb investment. For $44 billion $?!!
No.. it was 1m lot.. I'm still conservative when it comes to GJ. It just moves all over the place.. but I think I have the hang of 'it' now.
I will never trade GJ during normal times .. and I will never rely on a chart to tell me where it's going to go next.
You crazy brits..
"London, February 1. Cable has tumbled by a cent-and-a-quarter to a four-day low of 1.9764 having initially rallied on the back of January"s woeful US Non-Farm Payroll number. There is some head scratching about GBP price action--and speculation that an earlier GBP fix order allegedly done the wrong way might still be being unwound (the pound was reportedly bought when it needed to be sold).
A rumour of a possible BoE announcement about either Northern Rock, Rachel Lomax or Paul Tucker has also been flagged as a factor in the GBP weakness. Lomax is BoE Deputy Governor responsible for monetary policy. Tucker is BoE Executive Director, Markets."
"London, February 1. Cable has tumbled by a cent-and-a-quarter to a four-day low of 1.9764 having initially rallied on the back of January"s woeful US Non-Farm Payroll number. There is some head scratching about GBP price action--and speculation that an earlier GBP fix order allegedly done the wrong way might still be being unwound (the pound was reportedly bought when it needed to be sold).
A rumour of a possible BoE announcement about either Northern Rock, Rachel Lomax or Paul Tucker has also been flagged as a factor in the GBP weakness. Lomax is BoE Deputy Governor responsible for monetary policy. Tucker is BoE Executive Director, Markets."
Yup - $44.6B for Yahoo. It's an unsolicited offer, so no deal has been signed yet, but if it goes through it will be the largest tech deal in history. I guess Microsoft wants to try to better compete with Google and this is how they see it being possible?...
I've been watching GBPJPY for the last 10 minutes or so but it looks like it has (relatively) stabilized (for now) and may even rebound a bit, so I don't feel comfortable trading it...
UK interest rate trade was a good one.. here's how I traded:
Markets had already priced in a 25bps cut.. so when the BoE announced the same, GU actually went up. I waited for the accompanying statement.. BoE basically claimed that the economy is not looking too good, credit squeeze, consumer spending is decreasing, etc. So I shorted GU.. soon as I short, they come out with a "Inflation risk is high short-term"
GU went up 10-15 pips.. but eventually it slid down. I got out at 1.9506 for about 32 pips. Soon as I get out, darn thing falls down 40 pips more
Seems like everyone is following the US regarding the cuts - it's rate cuts on a global scale!
Markets had already priced in a 25bps cut.. so when the BoE announced the same, GU actually went up. I waited for the accompanying statement.. BoE basically claimed that the economy is not looking too good, credit squeeze, consumer spending is decreasing, etc. So I shorted GU.. soon as I short, they come out with a "Inflation risk is high short-term"
GU went up 10-15 pips.. but eventually it slid down. I got out at 1.9506 for about 32 pips. Soon as I get out, darn thing falls down 40 pips more
Seems like everyone is following the US regarding the cuts - it's rate cuts on a global scale!
Good work Music_Producer. I'l be watching the ECB announcement in a few minutes very closely for that very reason - man, if there was a surprise rate cut...
Regardless, I'm thinking there will probably be some sort of movement -hopefully I'll be able to grab a piece of it...
Regardless, I'm thinking there will probably be some sort of movement -hopefully I'll be able to grab a piece of it...
CMC filled my order, but once again I seemed to get in before the spike - well, before CMC's spike at least.
They seem to fix the price at times so that no one can trade the news spike, then their quotes react afterwards (sometimes up to 30 seconds after the news I've seen! ) however if you're using a good service such as TTN and you react to the report quick enough, you can sometimes screw them over I am finding as of late. Anyway, only made 21 pips, could have made way more obviously, but I was quite happy with that nonetheless - can't get too greedy!
A successful week overall for me, let's hope next week brings more of the same....
Have a great weekend everybody!
I have had many requotes in similar situations, but this time I got lucky and it actually just filled for me. It was odd too, as it didn't fill instantly, then the price moved, and I assumed I had missed out, but miraculously CMC failed in screwing me over.
Forex platform or spreadbetting? Not sure what you mean, sorry...
very quiet on this board. Loads of profits on GY over the last few days. I found a good resource on the net. http://blogspot.forexlivepro.com
They trade only GY, but with good accuracy, and combine with news trades too.
Anyway, next week should be big: interest rates, nfp, CAD, Oz releases. Massive.
They trade only GY, but with good accuracy, and combine with news trades too.
Anyway, next week should be big: interest rates, nfp, CAD, Oz releases. Massive.
Been too busy to trade the last couple of weeks. Hoping to get back into it next week and take advantage of some of the more major announcements.
Happy trading everyone....
Hoping to get back into it next week and take advantage of some of the more major announcements.Happy trading everyone....
Hey everyone, hope you all have been trading. BritGuy, you're the new GY king (and btw, heathrow is such a mess!) I'm back from my trip.. couldn't trade at all in Bombay, was on dial-up.. but I had a short position on GY open.. so closed that today at a good profit (very small lot though) It was a short from 212.45 I am still looking for GJ to hit 175-ish levels if market conditions remain the same.
Today's Aussie trade was as expected - interest rates were hiked.. so I shorted Aussie $.. got out with 60 pips. However, I am trying a new strategy and I am currently short on aussie $ (small lot - just for experimental purposes) I am targeting 0.9220.
Let's see if this works.
I'm back from my trip.. couldn't trade at all in Bombay, was on dial-up.. but I had a short position on GY open.. so closed that today at a good profit (very small lot though) It was a short from 212.45 I am still looking for GJ to hit 175-ish levels if market conditions remain the same. Today's Aussie trade was as expected - interest rates were hiked.. so I shorted Aussie $.. got out with 60 pips. However, I am trying a new strategy and I am currently short on aussie $ (small lot - just for experimental purposes) I am targeting 0.9220.
Let's see if this works.
GY will continue to fall.. I was going to post earlier today that it will be a bear market for stocks and GY, because of a couple of bad announcements (from Intel, Citigroup, etc) BoC decision added to the overall sentiment as well.
My aussie profit was booked for more than 120 pips. Small lot, will continue testing this strategy and see if it really works.
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