carry trades usually have huge stop losses.. and must be able to withstand the volatility. and since ur a trader.. if u long GJ .. u must have enough margin to continue trading other pairs as well.. if ur account is able to do so then proceed but however i dont really like carry trades in this kind of market.. i rather look at gold.. thats a better plan for long term

gold is more expensive to trade with (much more volatile)...if got money...i'll probably short on gold for a week or so

Trading GJ is one of the worst carry trade, NZD/JPY is the one best for carry trade, it is less volatile than GJ.

I have to agree; carry trades amount to the biggest losses i have had in my forex account. I now need to really stop trading these volatile carry trades.

---

Added on October 13, 2008, 4:40 amBilly,

The EU has just announced government backing of bad bank debts. Wouldn't that cause the EU to drop rapidly in the near future?

What a disaster, we are heading for an inflation era soon.



This post has been edited by AdamG1981: Oct 13 2008, 04:41 AM

lol adam....you have been so quiet lately...u blew ur fx acc?

even if the gov say they will back the bad debt....i dont think it will stop the rapid declining, maybe slow it down

@kelvin
I'm not sure whether you got see the analysis chart yesterday night or not. But I closed short for 4pair with each 50+pips jor. Quite a nice day.

EDIT:
It seems to be I closed my short too early, but it's ok, cause kinda pressure juz now with 4position on hand juz now, feel like kinda over leverage. At least I gain pips. HEHE..... Its done for me today. So it's time to left. BB

This post has been edited by mphpopular: Oct 13 2008, 11:00 AM


Attached thumbnail(s)

@mph yea i looked at ur charts.. many thanks ^^ haha nice la u no need to trade d.. was supposed to wake up at 4.30 am but i overslept

---

Added on October 13, 2008, 11:23 amentered short a bit late..
Short EU at 1.34825

---

Added on October 13, 2008, 12:06 pmif there is one thing i missed.. was that today JPY, USD , and CAD banks are on holiday !!! -.- y did i trade.. bah..

This post has been edited by kelvin_tan: Oct 13 2008, 12:06 PM

how did u do tat?...u must hv a lot of knowledge..
any tips?...

As a FA trader, I guess he probably in the same state like me, stopping FX for a while. (or if I am wrong) Wide spread, high Libor rates, Big volatility given the risk/reward it is not worth my time too.


Adam,

The USA situation is not that good either compare to Europe. Both of them are bad, this is the reason why I am staying out. The recent USD strength is boosted by market demand. Check the Libor rates, People are paying high interest to get USD. Market is thirsty for USD in believe that USA is ahead of Credit crunch and probably recover first b4 the world. When all the thirst run dry, u will see how toilet paper the USD is. A country with serious Debt will probably end up printing more money. (Hence USD- in long term)

if i not wrong around 2000 or 2004 US have budget surplus right?

US(maybe other also) is the only country that can survive huge debt, survive as in...they dont collapse coz of huge debt unlike other country

unless oil trading use currency other than USD...i dont think USD will turn into toilet yet.....i think other people first collapse also not yet US....as quite alot country is depending on US

This post has been edited by dr2k3: Oct 13 2008, 02:48 PM

walao suddenly a bull come out. haha. will it be falling soon?

this morning i managed to get 200 pips...

i got caught in the bull... 100 pips gone

there is no tips ..just focus on observing market pattern ..and always stick to your system .

EU BUMP RUN completed jor.


Attached thumbnail(s)

i'm still shorting.. if they are bailing out banks.. their problems are far from over..

---

Added on October 13, 2008, 5:43 pmi'm on short both EU and GU... the bull on EU cost me 100 pips but i guess there are ups n downs..

This post has been edited by kelvin_tan: Oct 13 2008, 05:43 PM

Something to ask here. Is it posible I can add the price at the level of Fibonanci? Teach me how instead of I spending time to draw line at there.


Attached thumbnail(s)

i'm not sure myself mph.. since i dun really use the mt4 platform much.. just when i need to recomfirm things..

---

Added on October 13, 2008, 5:56 pmanyway just pointing out.. double top on the GU pair on 1hour time frame..

This post has been edited by kelvin_tan: Oct 13 2008, 05:56 PM

whats do you mean by add price

@dr2k3.. look at his chart.. at his fibo... the exact price is not shown.. instead he draws a horizontal line on top of the fibo to get the exact price..