aiya people dont demo and BS talk one lah.

with 10K USD it is really easy to get that amount.

Trust me, it is really really easy to get that amount with 10KUSD.

Some of best people even reach 2-3KUSD.

This is the reason why I took Holiday, b4 this bear prices shows we have some bull steam...then the europe economy is a mess so I do not want to long. Short also scared it bull, long also scared it break. = Take holiday.

This post has been edited by billytong: Aug 22 2008, 08:29 PM

Take a rest dont desperate for the loss pips. It is Friday, come on Holiday! Monday is the new day.

Any Sifu or Pros here want to play Genting style Trading?

Like turning USD10 to USD700? or USD1 to USD70?

http://www.igmarkets.com/fx/

700:1 leverage ftw. Thats gonna be very fun especially on pairs like in GBP/JPY.

This post has been edited by billytong: Sep 2 2008, 09:59 PM

Not agree with this.

u study the fundamentals outside the box. Dont rely 100% on the reports, reports can be rework and it is up to the market to believe the report or not.

the euro will continue to fall. the only positive thing for ECB can talk about is inflation. Nothing in europe look good.

As for USD, I am looking for NFP to be negative. As u all know, when USA news is not negative enough that means it is good news. the NFP must come out to be much worst than everyone think to kill USD. And in the coming months all the USD news will turn more red from green due to Strong USD.

I believe if ECB talk dovish, I think the euro could fall to 4280s. Euro has been the only currency outside JPY that hold better against USD compare to others. Look at pound, AUD they drop like water.
Check EUR/GBP chart then u see how strong euro compare to GBP that fight against USD.

This post has been edited by billytong: Sep 4 2008, 09:00 AM

I would like t add something to USD,

dont be too over optimistic about USD bull this bull run up without any interest rate move, and at the same time I heard alot of rumors running saying there will be a possibility of second round of credit crunch. A "Post subprime" crisis, which been said to be worst than subprime. If things come out as worst as what the rumors says, it would not be surprise the USD will fall sharply until EU 1.53. This is something that makes me hand shake to short euro down here, because I do not know when this will happen but I am taking that into account.

Let me rephase my statement. What I mean is the current situation is about the battle of the worst. the Europe region recession is widely expected long time ago. I knew this 12 months ahead of this thing.

Right now with the strong USD and USA not having to show sign of economic recovery yet. This rapid USD move could easily kill any hope that the USA trying to recover from its subprime wound. I probably gonna see some Aug report to be worst than the July especially export sector.

And I am not ruling out another second round of financial crisis. Right now I am wondering whether this rumor about more USA banks failure or major bank failure is worst enough to make the Europe recession look good. Something same like Europe recession actually make the USD smells like a rose now.

Lets not forget we have a lot of credit crisis across the whole world. I am quite surprise that the Europe region have no news about these crisis, despite Housing countries like Spain and France is growing slower.

It is the battle of the worst now. If both of them are bad enough, where by the investor have nowhere to go, they will probably flock back to buying commodities such as Oil, gold. When u plot all these things together, u will know something big will gonna happen.

And of cause, all the time commodities have a negative effects of USD. This USD bull, half of it is fueled by commodities burst.

When Commodities go up, the USD goes down.

So if the commodities have buyers(right now I dont think we have) to push back to crude $150, then the EU drop will be some what slower/limited.

So when u short EU after all these big drop, u have to take that into acc.

At this moment, yeah I am agree with you.

but if USA burst for the second round again, u gonna see oil going back up.

@small-jeff

Inflation does not comes with just high oil prices, when a weak currency and a major unemployment is also one of the key factor to inflation. Because your money grow smaller, u have no job, ur Bank Acc grow smaller, thus everything will look more expensive to u.

As for housing in USA, No I am not seeing any bottom of housing yet. The housing & financial sector of USA has yet to see the bottom yet. Hence USA is not out of problems yet. It takes them 5years to build the subprime crisis, and i dont think they can fix the problem in 1 yr. If u want to see USA back in business, may be next 5yrs.

@dr2k3

I disagree, if people hedge against the gold when the subprime hit USA, gold would have been rise faster than oil. The price of Gold has not doubled, but the price of oil double. To me anything that is safe heaven, the investor will put money into it. The world slow down could easily slow the USA recovery or make its economy drop deeper. When that happens, the world is suck, the USA recovery hope broken ---> safe heaven would be commodities.

Even thought I am been very bearish to EU, but I am keeping that USA economic in mind. We just dont know if there are anymore bank failures. Bear sterns, Fraddie mae, Mac, Lehman all have problems now and I dont think they are the last.

Right now, the USD sounds safer than the rest.

but I am not ruling out the possibility of deeper US downfall. As u know the USA is not out of problem yet, they have lost more and more jobs. So if u ask me about how "safe"USD is now? It is not very safe.

I am trying to tell u guys Long USD with cautions.

We are not discussing about history. The last Subprime issue, people has been using Oil to hedge against USD.

And another thing I would like to point out that the retail traders are not the guys that move the market. Manipulation does not happen to smarter people like those big guys in banks.

right now on the ECB press conference I am interested to see how Trichet will say to save his euro from sliding more. Other that inflation or "better" outlook of Euro growth. I can see any other reason he can say to stop euro from going down.

Bernanke is one of the guy that contribute this problem. Many thx to him, everyone else is following USA now.

First People are buying index, not the real thing, they dont talk about evaporate thing. And I am not saying Central bank to hedge currency to oil or store a few barrels of oil in their storage.

The Hedging I mean here is everyone's Asset. Banks, Hedge funds, big individuals.

When USD got crap after the subprime burst, everyone go crazy and run with their money to hedge against anything. Some Sells USD for gold, some sells USD for oil, corn oil, Euro, CAD, AUD etc. This is why we see all time high oil, gold, euro, even pound, CAD, AUD all making higher high than b4, all these are speculative as what Adam said. All these investors do is to avoid their asset get depreciate when USD is going down.

When USD drop everything that is xxx/USD goes up, it just that simple. Gold is not = the whole market.

this is why all these press conference or FOMC meetings actually play into role. As they are trying to tell the market what they gonna do. (Whether or not they will take action is another problem, whether or not the market believe them is another story)

lol I pick the King! j/k

Months ago All the issues is about USA Subprime wheres FED is the one control the market. At this moment I think Trichet is the boss now. Think about what happen if he cut rates? EURO accounts 25% of total reserves. His action do impact some a lot.

Well the first thing he gonna do is to have some verbal intervention. But at this rate of Euro Falling. I think he wont talk anything too dovish. "Price stability" is what this guy main priority.

Now u know why I keep saying they(USA) are not out of problem yet. The USD they dont smell like dead corpse like EUR, but it doesnt mean they smells like a rose.

TP on 3 shorts, banking 1.5K Euros. Damn I wake up late >_> only manage to close @ 60s, 70s.

Now wait for red NFP to pull this thing back up a little to reshort.

Watch out for nFP, if NFP turn out to be very red, Dow jones will crash, and all the Yen cross will dive.

This post has been edited by billytong: Sep 5 2008, 10:20 AM