Thanx naijababe, simple things wan come dey difficult 4 me.

Why Bernanke no hit the nail straight, he just say dem get tools wey dem go use without mentioning any precisely. Well dem say when breeze blow fowl yansh go open. I'm waiting for their FOMC meeting later this month to see those tools.

JAkpayen:

I no understand!!!

naijababe:

^ FA = Fundamenta Analysis, TA = Technical Analysis

Acronym fever dey worry you

It also means things are quite unpredictable (though not absolutely) for now due to current economic events unfolding this week. So it would be safer to sit on our hands and stop clicking as we might click away our hard earned fortunes offering it as a gift to our patient brokers.

blackgucci:

silly market, silly speeches, silly economies, silly pricing.!!!

Oh boy u don make loss, wey everything become silly, I love forex trading

blackgucci:

silly market, silly speeches, silly economies, silly pricing.!!!

Take am easy o, I lost a 100 pips today too but not too bother, i got some rain on Gold, Dax & Dow. BTW, I am the only person seeing a bear flag on the EUR/CHF ?! Someone tell me I am not imagining it o.

^ lol
wat time frame are u looking @? This market just dey defile sound technical setups. Thnks to those talkative economist!!

^ 4H TF

^
nada, cant see a thing babe.

Good evening every one. I can see that the house is very busy here raking in pips.

Without much ado, I am dropping my 1st (and probably the only) trade for this week. The week has been slow with so many sharp and unidirectional movements; at least from my point of view. This trade in question is a 1:2.5 trade with a profit of 145 pips and stop of about 58 pips.

Just as I always do, I have put enough details on the attached chart below to explain the reason behind the trade call. Act according, but be warned on using strict money management. I am already live (on my pending order) and should get filled before morning.

Good night and have great trading day tomorrow to every one here! Loose responsibly!!

EU: No chance for bull. I was deprived of pips yesterday however there is always another day in fx.

smithereen:

Closing my GJ @ 124.19 for +63 pips and GU @ 1.6058 for +74 pips.

Both still have massive upside in my opinion, but I believe they could retrace a bit b4 continuing (2day or 2morr) - if at all.

If they do I'll hop on (long) again. If they don't and I miss my anticipated move, I'll console myself with the 137 pips for today.

OK. The retracements happened. So I'm back on board (longs) today @ GU 1.5978 and GJ 123.75.

Watching like a hawk this morning incase things start to look south and I have to jump off.

But I especially believe GJ is due for a massive rally even though the little beast has been acting funny all week (spitting out pips though ).

naijababe:

BTW, I am the only person seeing a bear flag on the EUR/CHF ?! Someone tell me I am not imagining it o.

I saw that bear flag on ECH and GCH. But for now I am happily ignoring anything with CHF in it until the world decides what they want to do with that currency. I might be wrong, but no go shoot fowl make im mama fly.

Market Market Market

I just love days like this week because they tend
to humble traders and its only those that have
good money management that can survive this week.

UK Producer Prices set to slip back, German CPI, Italian Q2 GDP, China inflation remains sticky, Japan Q2 GDP (Final). Obama's speech helps Asian risk appetite with bigger than expected growth plan after Bernanke's disappointing speech remained muted on action.

Today's release of producer prices for August could well see a month on month decline of input prices of 1.5% bringing the annualised rate down from 18.5% to 16.8%. Output prices which are much lower on an annualised basis are expected to remain unchanged at 5.9%. It would be a mistake to expect inflationary pressures to start to slip back as we look ahead to next weeks CPI numbers.

On the same inflation story yesterday's press conference by Trichet was about as dovish as it could be as he downgraded the banks growth forecasts for the European economy for 2011 and 2012 as well as highlighting that “downside risks to euro area have intensified”.
Trichet didn't indicate that a rate cut was on the horizon, but he did indicate that there was little likelihood of any further fiscal tightening in the foreseeable future, given the troubling economic environment. Going as it did hand in hand with the growth downgrade, the outlook for Europe gets darker by the day, something the G7 meeting starting today in Marseille will not be able to solve in a hurry.

With that in mind today's German CPI for August becomes somewhat of an irrelevance with expectations of it coming in at 2.4%, unchanged from last month and just above the banks target rate.

Given the problems in Italy right now and the political manoeuvring in getting the new austerity budget passed it would be helpful if that latest Q2 GDP numbers gave any indications that the economy is growing at a healthy rate. In an event it is likely that the numbers will show growth of 0.3% for the quarter, unchanged from the previous reading.


In signs that the recent rate tightening cycle in China could well be on pause for now, CPI inflation for August slipped back from 6.5% in July to 6.2%, though food prices continue to be a concern, however producer prices look to be a little bit more sticky rising slightly more than expected to 7.3%, above estimates of 7.2%, but still below July's 7.5%.

Japan's Final Q2 GDP continues to show no signs of significant improvement, coming in at -0.5% from 0.3% previously, amidst concerns about the high value of the yen and a slowing global economy. The new Prime Minister has certainly got his work cut out to get the Japanese economy moving again against a backdrop of a country struggling to get back on its feet after the widespread devastation caused by the earthquake and subsequent tsunami.

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Sometimes it seem to me in this business you simply cant remove experience from long term and sustainable success, When you have stared at the charts long enough, you just know where the market is going, he he

Menn,, EU is just sinking like Titanic

@jazes i hear ur word,
a system is only half as good as well managed money.

JAZES:

Market Market Market

I just love days like this week because they tend
to humble traders and its only those that have
good money management that can survive this week.

Well said

Waiting for the break of 1.3756 and 1.3728 then down goes the EU , lol

hehehehehhehe D O LA dollar , were are the bulls giving me warnings

Bull? No chance!

Hi Everyone,

Talking about MM, I would like to get your opinions on the use of lot sizes with reference to the account balances below. I know it might vary from trader to trader depending on each person's trading strategy, but i just want to get your views for all excluding scalping.

So, what lot size would you use:

 $
1,000        0.1
2,000        0.2
10,000      1.0
20,000      2.0
50,000      5.0
100,000    10 etc

sh**t!!! read a thread on forexfactory about a member who short EU from 1.3920 with 5000 lots and now he's long with 1 lot               

^^^ Okay make I catch you wetin be your username for FF?

30 more pips to end today's trading @ 1.3700. Thank you EU.