stagger:

Your call was defective from the get-go. In an intervention, it is always good to know which currency the central bank is buying with its own currency. In yesterday's move by the BoJ, they sold close to 500billion Yen and bought USD. After the initial intervention, another round of selling was done at 78.35 (don't ask how I know; I have access to some deadly insider news software). This massive flow of USD buying is what has prompted USD strength, especially in the carry trade currencies of the AUD and NZD.

I personally did not trade the USDJPY, but sold the NZDUSD (see my post on this at 3am this morning when the intervention took place). You can see how far south the NZDUSD has moved.

Always understand the fundamentals thoroughly before going technical.

that is true

@ stagger how can we get that 'deadly insider news software' ?

I have been in this business and trading constantly since 2006 when forex was just becoming popular in Nigeria. I have read so many of the posts in this thread since it started and i just decided to keep quiet. There are so many experiences i m seeing from people who post in this thread, So many people have been hurt trading forex because they lost money.some due to their greed, ignorance, fear or sheer laziness. from whatever angle you are viewing this, you are doing this business in order to make money, period! So act in your own best interest, So many people condemn things which is meant to help your trading like indicators, EAs, trading styles e.t.c. from others because they suffered a tragic loss of their money which is their own fault and they are looking for someone or something to blame for their misfortune so they turn a blind eye to the whole package they were using. Please, if you still blame someone or something for your trading results, It is either you change or you have no business doing this business cos you will never make it, (it is not a curse). The market is multifaceted and several factors contribute to change in prices so don't expect something palatable all the time. It is you who have to look into yourself and make necessary adjustments.
RESULT IS ALL THAT MATTERS, DO IT THE WAY IT IS SUPPOSED TO BE DONE

My company DAYLIS CONSULTING is giving out our own personally encoded trading EA MoneySpinnerV2 on this thread. We ran this software for 2 good years with a few modifications in the programming and the results have simply shown this software is definitely as intelligent as the coders, Below is the latest trading results, Feel free to contact Daylis consulting on 017418223 for more information

stagger:

Your call was defective from the get-go. In an intervention, it is always good to know which currency the central bank is buying with its own currency. In yesterday's move by the BoJ, they sold close to 500billion Yen and bought USD. After the initial intervention, another round of selling was done at 78.35 (don't ask how I know; I have access to some deadly insider news software). This massive flow of USD buying is what has prompted USD strength, especially in the carry trade currencies of the AUD and NZD.

I personally did not trade the USDJPY, but sold the NZDUSD (see my post on this at 3am this morning when the intervention took place). You can see how far south the NZDUSD has moved.

Always understand the fundamentals thoroughly before going technical.

Thanks a bunch bro but please be careful how you use the news report you hear.
Think about the fact that USA outsources most of its product to Asia.
Also think about the words I highlighted in bold "carry trade" . . .
DO YOU EARN POSITIVE SWAP SELLING AUDUSD OR NZDUSD?
Anyway, thanks again for your "advice", very kind hearted of you.
Have a pleasant day.
Meshach.

meshpips:

Thanks a bunch bro but please be careful how you use the news report you hear.
Think about the fact that USA outsources most of its product to Asia.
Also think about the words I highlighted in bold "carry trade" . . .
DO YOU EARN POSITIVE SWAP SELLING AUDUSD OR NZDUSD?
Anyway, thanks again for your "advice", very kind hearted of you.
Have a pleasant day.
Meshach.

You cannot compare the gains or loss of an interest rate differential with a move of 100 pips. I know all about swaps, and in fact, if you go to fxstreet.com, they have a calculator that helps you calculate your earnings on a carry trade over time.

The swaps only make sense when you are trading up to 50 to 500 Standard lots like the big dogs do. That is why long term investors factor in swaps into their trades. As far as intra-day traders like me are concerned, swaps are not important.

They only mean that for a short trade on the AUD or NZD, you won't gain $10 per pip on a Standard trade. You will probably gain $8.2 if you have a winning short trade.

So if like I did, I sold the NZDUSD and made 100 pips from it, why would I bother about swaps? Again, I follow the news because it tells what is about to happen. With it, you can make informed decisions. I was also guided by comments by the NZD finance minister:

"intervention is up to the RBNZ" (this was 45 minutes after intervention).

On Friday last week and Tuesday, the same guy had made comments that a Strong Kiwi was of great concern to the NZ govt.

On the strength of these comments and the eventual intervention, what USD pair do you think I should be selling? EURUSD, GBPUSD, or NZDUSD? Look at the performance of the three pairs in the first 3 hours post intervention.

The news is there to guide us. I use it, analyse it and then use it to make rational trades.

stagger:

You cannot compare the gains or loss of an interest rate differential with a move of 100 pips. I know all about swaps, and in fact, if you go to fxstreet.com, they have a calculator that helps you calculate your earnings on a carry trade over time.

The swaps only make sense when you are trading up to 50 to 500 Standard lots like the big dogs do. That is why long term investors factor in swaps into their trades. As far as intra-day traders like me are concerned, swaps are not important.

They only mean that for a short trade on the AUD or NZD, you won't gain $10 per pip on a Standard trade. You will probably gain $8.2 if you have a winning short trade.

So if like I did, I sold the NZDUSD and made 100 pips from it, why would I bother about swaps? Again, I follow the news because it tells what is about to happen. With it, you can make informed decisions. I was also guided by comments by the NZD finance minister:

"intervention is up to the RBNZ" (this was 45 minutes after intervention).

On Friday last week and Tuesday, the same guy had made comments that a Strong Kiwi was of great concern to the NZ govt.

On the strength of these comments and the eventual intervention, what USD pair do you think I should be selling? EURUSD, GBPUSD, or NZDUSD? Look at the performance of the three pairs in the first 3 hours post intervention.

The news is there to guide us. I use it, analyse it and then use it to make rational trades.

Nice, life is easy. If trading fundamentals work for you, go ahead and keep making money with it.
I'm glad to know you've found what works for you.
keep reigning bro!
Meshach.

meshpips:

Nice, life is easy. If trading fundamentals work for you, go ahead and keep making money with it.
I'm glad to know you've found what works for you.
keep reigning bro!
Meshach.

Hi bro, I would like to chat with you concerning something, do you use a yahoo or MSN messenger? ADD me on any of these via my username here @ hotmail.com

BTW, do you trade on fridays?

honeric01:

Hi bro, I would like to chat with you concerning something, do you use a yahoo or MSN messenger? ADD me on any of these via my username here @ hotmail.com

BTW, do you trade on fridays?

added

^^^

Not on?

Time to buy AUD

^
i favour a buy on nzdusd, went long an hour ago, It failed to break a key support.

blackgucci:

^
i favour a buy on nzdusd, went long an hour ago, It failed to break a key support.

I agree with you; AUD is still under performing

hi guys ,make nna pls mentor me .iam realy interested in this forex

I came across a free monthly demo contest 3 months ago organized by a Swiss Bank while surfing the net. I registered and received a demo account which I have been trading. I was a bit skeptical at first but I noticed a dramatic improvement in my trades and a real possibility in winning a cash prize down the line as there are not many strong players at the moment. The contest is just 6months old.

I'm bringing this to the attention of newbie Forex traders or anyone looking for a risk-free environment to practice and finetune strategies with a possibility of making some money. I'd like to re-iterate that you are not required to pay any money or fees as it is a demo contest with virtual money. Registration is simple and fast requiring only your email address and a unique nickname.

More experienced traders could also use this as an opportunity to refine their strategy or flex their trading muscles amongst other traders and win some cash.

For more info, here's the link http://www.dukascopy.com/tradercontest/?action=blog&trader=Tinktank

I'm going long on EUR/USD, join me let's ride it together. Where is Odiaero?

^^^^^^


Selling cements for Sicily.

Us triple A rating reduced, what sentiments are we going to see this week.

Where is the mai gaurd of this thread.

Are we there yet?

^
i be think say u never come out of the weekend hangover, lol

Just to wish my fellow pip hunters a happy Sunday.

May the pips be with you all.

Me I dey wait for sign to short, make pesin collect some pips before morning

naijababe:

Me I dey wait for sign to short, make pesin collect some pips before morning

You should have shorted immediately after the market open as the pip gainers take profit.

BTW, the US Finance Minister (Treasury Secretary) Timothy Geithner is ranting away on NBC right now about the S&P rating. I quote from my forex news feed:


2011/08/07 22:24:00 *GEITHNER SAYS S&P MADE `TERRIBLE JUDGMENT'

2011/08/07 22:24:00 *GEITHNER SAYS S&P MADE `TERRIBLE JUDGMENT'

2011/08/07 22:24:00 *GEITHNER SAYS S&P MADE `WRONG CONCLUSION'

2011/08/07 22:25:00 *GEITHNER SAYS CONGRESS `OWNS' U.S. CREDIT RATING

Look at that last statement. I think Timothy Geithner is getting highly delusional. Has anyone watched the documentary "INSIDE JOB"? It is a must buy so you see how Geithner, Paulson, Greenspan and co engineered the global financial crisis.

naijababe:

Me I dey wait for sign to short, make pesin collect some pips before morning

I am telling you, damn thing went south within 20 mins doing over 100 pips

I should have shorted EU when it was around 442x, i was just waiting to see 445x before shorting, poor me, i missed out but not passed out.

@stagger pls can you mentor me, pls let me have ur gsm

russy:

@stagger pls can you mentor me, pls let me have your gsm

My brother, there are many intelligent traders here. Just follow what is happening here and you will pick some very good ideas that will take your trading very far.

Meanwhile people, this was from the Swiss National Bank Chairman a while ago, Philipp Hildebrand:

2011/08/08 06:04:00 SNB chief Hildebrand says will not accept a further appreciation in the franc without acting

E be like say SNB wan intervene o! If you are bullish on the CHF, beware!

Abeg, house, which forex broker offer forex trading without you necessarily downloading the meta4 trading platform. Urgent response required,
please.

May the pips be with you.

Hello Trader

Is there anyone in the house who is using alpari broker?The problem is that,i am having problem setting my pending order on their site.

Eachtime ,i tried it ,there is to bea message like invalid stop loss{SL} or take profit (TP).

Can anyone put me through on this?

I have been in this business and trading constantly since 2006 when forex was just becoming popular in Nigeria. I have read so many of the posts in this thread since it started and i just decided to keep quiet. There are so many experiences i m seeing from people who post in this thread, So many people have been hurt trading forex because they lost money.some due to their greed, ignorance, fear or sheer laziness. from whatever angle you are viewing this, you are doing this business in order to make money, period! So act in your own best interest, So many people condemn things which is meant to help your trading like indicators, EAs, trading styles e.t.c. from others because they suffered a tragic loss of their money which is their own fault and they are looking for someone or something to blame for their misfortune so they turn a blind eye to the whole package they were using. Please, if you still blame someone or something for your trading results, It is either you change or you have no business doing this business cos you will never make it, (it is not a curse). The market is multifaceted and several factors contribute to change in prices so don't expect something palatable all the time. It is you who have to look into yourself and make necessary adjustments.
RESULT IS ALL THAT MATTERS, DO IT THE WAY IT IS SUPPOSED TO BE DONE