Offshore Trader
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I think if we get below 20 we could be going much lower. My risk is now -10 my reward should be much higher. It's about time we had a decent trend move in the European daytime
Offshore Trader
Established member
- Messages
- 854
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- 5
After getting stopped by 1/2 point yesterday, today was a whopping 2 points. Very frustrating....
ouch, and thank you China
Hello Mark, nice to hear from you.
Now I'm willing to except I'm not the sharpest pencil in the box, so perhaps someone could explain this one a little more for me.
China holds lots of dollars, which they could probably change into other currencies, over a period of time.
But rather than gradually adjust their % holdings, they come out with a statement, that is bound to have an impact on dollar strength.
If you are trying to sell something, it's not always a good idea to reduce it's value first.
Unless the end game, isn't as obvious as it first appears.
Makes you wonder who holds the balance of power, China, or Mr Greenspan, and Burntcakes.
Funny how Mr Greenspan has forgotten his retirement over the last few days.
mburdge said:
Hello Mark, nice to hear from you.
Now I'm willing to except I'm not the sharpest pencil in the box, so perhaps someone could explain this one a little more for me.
China holds lots of dollars, which they could probably change into other currencies, over a period of time.
But rather than gradually adjust their % holdings, they come out with a statement, that is bound to have an impact on dollar strength.
If you are trying to sell something, it's not always a good idea to reduce it's value first.
Unless the end game, isn't as obvious as it first appears.
Makes you wonder who holds the balance of power, China, or Mr Greenspan, and Burntcakes.
Funny how Mr Greenspan has forgotten his retirement over the last few days.
chestney said:
Hi Chestney, ( long time no speak)
China are indeed stuck between a rock and a hard place! (nice problem to have though)
They do want to reduce their Dollar reserves and probably buy more Euros / GBP.
But they also playing a poltical game; Remininding the US, who want them to devalue their currency, that they hold all the cards in this game. If the Chinese don't continue buying up the US debt every month, the US economy will crash hard and fast. (Not in anyone's interest)
MMM,
Looks like I'll have to lose some sleep when I start trading live again!
Went short at around 09:15 from 1.9073, stop 1.9088 and target 1.8975. Got up and found my target missed by ONE pip due to the spread! Might hold for now and watch the Asian session.
Cheers all
Q
PS - anyone know if you can trail stops in metatrader? If so how? Otherwise I might have to use Ninjatrader again.
Looks like I'll have to lose some sleep when I start trading live again!
Went short at around 09:15 from 1.9073, stop 1.9088 and target 1.8975. Got up and found my target missed by ONE pip due to the spread!
Might hold for now and watch the Asian session.Cheers all
Q
PS - anyone know if you can trail stops in metatrader? If so how? Otherwise I might have to use Ninjatrader again.
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