Thread for Thursday/Friday Traders, May 13/14, 2010
Here’s a place for you to share ideas/trades/jokes…whatever!!
I look forward to hearing from you! 
Triffany
About Triffany
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at FXStreet.com and heads "The Human Element" a blog dedicated to trading psychology at ForexMotion.com Want to know more? She was recently profiled in "FXStreet.com's Women in Forex" Series.
You can contact her at Triffany(at)Triffx.com
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Watching USDCHF – nested box on 1 hour…. anyone got something better? hope…
Jerry, don’t get your hopes up for today … the french, german and swiss all have a bank holiday today, the italians and spanish weren’t invited cos they still have to work to pay off their debt !!!
Talking about holidays – can anyone recommend a Global Calendar for forex traders or traders in general??
I found one at Interactive Brokers which is ok…
Thanks Aby. Do appreciate your posting me.
anything interesting to you during the US session?
I went long USDCHF . still long usdjpy
The EURUSD is toying with the recent lows and the discovery that the UK has a bigger debt than we thought oops! has sent the GBP to some lows and the risk pairs aren’t happy so for me its sell trades across the as many as i can find (except the usdchf where i am already long … As a side question for everyone, looking at the EURAUD and the EURCAD both these pairs have been southbound since the end of 2009 and they’re still going, is there a reason NOT to sell these pairs ???
Hey, great observation…. I had not seen the GBP debt discovery… Thanks… also long USDCHF, and USDJPY (which has taken a hit, but I am holding.)
EURAUD? sure, why not………… Auzzies have a lot going
Cheers
Yep, I’ve only just noticed this myself Aby re: EUR – AUD/CAD. Pretty cool huh… A super simple trend-following strategy is to pair weak and strong currencies like these 2… I’m only just starting to cotton on to this kind of thinking myself. Lol, yes the wheels are turning.
Also very much relates to that scary chart I posted – Greece is barely the entree compared to the other Euro countries! Doesn’t bode well for the Euro and considering it’s moved nearly 2000 odd pips already this year, you start to wonder whether parity is out of the question…?
Alright, we really need some jokes… anyone? Aby? ;p
If you like the nested box trade, the E/J is flirting with the lows of it’s inside box.
I’m a cautious buyer of yen pairs, notably G/J on further weakness to 136 prior lows and big round number….
Further to the EUR- AUD/CAD – have been burnt counter-trend trading this pair. Sentiment is quite strong anti-EUR in line with CFTC Committment of Trader data.
Not sure what the E/J is doing………….. is it going to dive? or just tease us?
Considering the bank holidays and less volume out there right now, the EURJPY looks pretty southward bound …
Yaqui as for the EURCAD/AUD whole thing … if you’ve been burned by the counter trend trade so many times, doesn’t that tell you how strong the trend side is ? we’re not pregnant salmon .. lets trade the trend !!!
As for calendar … forexfactory.com is the clearest and also has links to explain to you what each report means and if you follow a few months you can start to understand whats going on …
Considering the bank holidays and less volume out there right now, the EURJPY looks pretty southward bound …
As for the EURCAD/AUD whole thing … if you’ve been burned by the counter trend trade so many times, doesn’t that tell you how strong the trend side is ? we’re not pregnant salmon .. lets trade the trend !!!
As for calendar … forexfactory.com is the clearest, and it also has links to what each report means and why it is good or bad etc …
Wow! There is so much collaboration here today that I keep busy just reading the posts… I am nervously long U/CHF and short E/J……………. please don’t tell anyone, it might move the market… OK?
I just read this article from FT.com
http://www.ft.com/cms/s/0/61cb5ec2-5eb3-11df-af86-00144feab49a.html
If you can’t see the link (you may need a subscription), the short of it, is that not only the USA politicians and CTFC heads are becoming increasingly frustrated by traders and the financial market but also the UK’s head of the FSA (=CTFC) lashed out at the carry trade as being “socially useless and that the world would be “a better place” if he could greatly reduce the practice”,
Thankfully Deutche bank lashed back “Free-floating currencies, including the ability to do carry trades, are a valuable transmission mechanism that helps economies to rebalance. Carry trades aren’t constant, some are generated in the normal course of business such as exporting and hedging investments” …
Basically, politicians and alike don’t like it when other people mess up their plans, so now the market is evil. The alternative is a communist controlled economy where politicians get what they want, yeah that works better !!! But bottom line … if you made a list of “socially useless” stuff out there, I would think politicians and regulatory bodies would be pretty high up on the list !!!!!!!
Great stuff, thanks for this Aby. I’m reading some interesting commentary on the same thing after last week’s black swan.
http://www.zerohedge.com/article/dissecting-crash
Sounds like biting the hand that feeds em kind of the thing…
Note : the EURUSD has closed below that major 1.25 low on the 1HR, I am gonna be waiting for the 4HR to close, but feel free to sell, no one really cares about the EUR anymore … go ahead !
I sold the EURAUD yesterday … easy money man, easy money
Oh Boy!!!! did you catch the EJ dipper? a juicy one
come one Aby tell us before, not after…. ha ha… share your super smarts
EURUSD has taken a big dive on huge emotion, so take some profits and wait for a retrace. That’s the way I look at it.
Triffany, I am now out of the EURJPY at 115.10, but it should have also hit your 114.80 … what a move …
Jerry, I am holding on to this EURUSD position, I don’t see a reason to let it go. maybe I’ll target 1.2210, and are you still hanging on to the USDCHF ? Where do you wanna get out ? I’m thinking right now at about 1.1450 range ?
Yeh, Aby, I got out of EJ at 144.75 or so….. holding long U/chf. EURUSD out now… waiting for retracement. to say 1,25 then short to the 1.2215 area
Triffany, I finally got the email notice of new entry…. thanx
Yup, volatility is back, gold at new all-time highs…
I agree Aby, hold onto EUR. Im looking to short CHF, and already long GBP, short CAD.
Yeah, my E/J hit its profit target, finally. Thanks to the EUR. I’m looking forward to a bit of a correction that I can take advantage of and sell it again. There’s not a whole lot of EZ news until Tuesday so that may give the sellers time to correct the price to affordable levels again. But that 4h close below 1.2480 is significant!
Selling the EUR against the commodity pairs (esp gold) is brilliant. Well done, Aby. Looks like your U/CHF finally took off, too. Yea!
Kiwi looks primed for fresh selling as well.