Recent content by fxchant

It's an option.

I've heard that there are some cool new squawk services on the way that will deliver the numbers instantly to your desktop.

Actually, the difference between 5 pm EST and 6 pm EST would be minor because most world markets are closed at that point, which is why it is the key cut-off time for calculations. However, most of the non-dealing-desk platforms that actually have to pick a time to clear trades choose 5 pm...

Actually, I don't even think that's the case. The real problem with averaging without stops is that you are forced into a direction that by definition isn't working, and COMMITTING to continue to play that direction. Eventually, you'll catch a move that essentially never reverses, and you're...

The way that I have been taught, 5 pm EST is the cut-off time, Use the prior 24 hours of data.

Minimum wage The states with the strongest individual economies here in the US are the ones with the highest minimum wages. Increases over time that keep the MW up with inflation tend to be very good for the economy.

Bottom line...if you trade FX, you should watch the US Dollar Index. The move was not hard to catch and was pretty obvious. Only people that fight trends got destroyed...of course, in forex, that seems to be about 80%.

No stop = eventual wipe out That's insane. No stop losses and averaging will eventually kill you in FX.

This week... I think the cable is heading up from here. US Fed likely to discuss lower rates in 2007. Also, the US Dollar Index perfectly retested the recent breakdown point and failed. FXChant

The trick to pivot points in forex is that it is a 24-hour market, so the calculations have to come from the proper set of data.