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Location: Blogs My journey with GBPUSDChat Room Archive |
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| Posted by: BrianTran |
4/24/2007 2:06 PM |
Skylimit777: last week
********** at 1:55 PM shaji joined the room
Skylimit777: what kind of correlation do you see between this event and
the highs in eur/usd?
ForexPlane.com Editor: hi shaji
ForexPlane.com Editor: remote
shaji: hi
ForexPlane.com Editor: in the past there have been correlation
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ForexPlane.com Editor: welcome to th chat room shaji
Skylimit777: pls explain in general the correlation between stock market
and forex market
Skylimit777: this might be an interestig topic for an article as well
ForexPlane.com Editor: only because the Fed in the past have made
references to the dangers of a weak dollar
shaji: Thanks
Skylimit777: anyway pls fill us in
ForexPlane.com Editor: before Greenspan left and now with Bernanke
********** at 1:57 PM Pat joined the room
ForexPlane.com Editor: their policy is let the markets decide that
ForexPlane.com Editor: and will not intervene
ForexPlane.com Editor: when you see governments intervene
ForexPlane.com Editor: stock markets tend to start move with the
currency
********** at 1:58 PM Skylimit777 left the room
ForexPlane.com Editor: although it is a concern but it's win for some,
lose for others
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ForexPlane.com Editor: for businesses that import into US
Pat: yes
ForexPlane.com Editor: it spoils their income
ForexPlane.com Editor: for business who export outside US, it's great
ForexPlane.com Editor: Levi's for example
ForexPlane.com Editor: can't get better than a weak dollar
ForexPlane.com Editor: this way, they can compete with Chinese
exports
ForexPlane.com Editor: for companies with revenues from outside US
ForexPlane.com Editor: it's great
********** at 2:00 PM Skylimit777 joined the room
ForexPlane.com Editor: so who wins who loses are very even
ForexPlane.com Editor: the stock market moves to the US economy
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Pat: true but most of the time dollar is strong
ForexPlane.com Editor: as long as companies still report record
eearnings
ForexPlane.com Editor: it'll continue upwards
ForexPlane.com Editor: remember stock markets lead economy by 6
months
ForexPlane.com Editor: so for the next 6 months, economy is still
healthy
********** at 2:01 PM Saw joined the room
********** at 2:01 PM Saw left the room
ForexPlane.com Editor: i see little correlation
ForexPlane.com Editor: at least there are other factors that are tie
them both in is interest rate
Pat: Saw is joining us
ForexPlane.com Editor: and inflation
ForexPlane.com Editor: hi saw
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ForexPlane.com Editor: right now, interest rate is not high enough to
cause economy to deflate
ForexPlane.com Editor: but not high enough to get the dollar to get
stronger
ForexPlane.com Editor: bernanke seems to keep things balanced for
now
ForexPlane.com Editor: anyone agree or disagree?
ForexPlane.com Editor: opinions are all welcome here
Pat: I agree with you..
ForexPlane.com Editor: don't want to be the only one with an opinion
Pat: Lets ask if Shaji has any questions
********** at 2:04 PM Skylimit777 left the room
Pat: Hi SHaji - Shoot your questions to Brian
ForexPlane.com Editor: shaji, what do you think?
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ForexPlane.com Editor: there is a strong correlation between GBPUSD
and EURUSD
ForexPlane.com Editor: they move almost in tandem
ForexPlane.com Editor: it only shows the USD is weaker in both
ForexPlane.com Editor: so it's the dollar that is being rejected as a
currency of investment
ForexPlane.com Editor: it has been declining since 9/11
********** at 2:06 PM Saw joined the room
ForexPlane.com Editor: i think investment in US gov't has declined and
moved to safer havens like euros or swiss
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ForexPlane.com Editor: hasn't stopped since then
ForexPlane.com Editor: hi saw
ForexPlane.com Editor: how are you today
ForexPlane.com Editor: ?
********** at 2:06 PM shaji left the room
Saw: I'm fine, thanks
ForexPlane.com Editor: ok got the chart
ForexPlane.com Editor: 2006 summer was the all time high right?
ForexPlane.com Editor: since begin of 2007, it's been moving up again
ForexPlane.com Editor: so i see it going up again to test the all time
high
ForexPlane.com Editor: it may or may not make new high but certainly
it looks to go to back up where it was in summer 2006
shaji: good time to invest in gold
ForexPlane.com Editor: it was actually may 2006
ForexPlane.com Editor: so far it's bullish
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ForexPlane.com Editor: it's foolish to short
shaji: true
ForexPlane.com Editor: this is strange because gold is usually up
when economy goes badly
ForexPlane.com Editor: but this decade has seen lots of fundamental
changes
shaji: is gold an AUD related
ForexPlane.com Editor: really?
ForexPlane.com Editor: i've never traded AUD
ForexPlane.com Editor: you trade AUD?
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shaji: like crude and CAD
Pat: ok
shaji: i am still in nonlive trading
ForexPlane.com Editor: i see
********** at 2:16 PM Saw left the room
ForexPlane.com Editor: never seen that
ForexPlane.com Editor: have to take a look at that
ForexPlane.com Editor: how long have you been demo trading?
shaji: 2months
ForexPlane.com Editor: what pair are you focusing on?
shaji: i am still a baby
********** at 2:18 PM Saw joined the room
shaji: EURUSD AUHJPY USDJPY
shaji: AUDJPY
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ForexPlane.com Editor: busy
ForexPlane.com Editor: AUH?
shaji: AUDJPY
shaji: SORRY
ForexPlane.com Editor: ah ok
ForexPlane.com Editor: all liquid pairs
ForexPlane.com Editor: good
shaji: whats about u
ForexPlane.com Editor: mainly EURUSD and GBPUSD
ForexPlane.com Editor: i tend to swing trade EURUSD
ForexPlane.com Editor: and shorter time on GBPUSD
ForexPlane.com Editor: gbp is more volatile so shorter term trading is
possible
shaji: whats is swing trade...
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ForexPlane.com Editor: when you hold a few days to a week or more
shaji: ok
Saw: this EURUSD still not hitting 1.3584
shaji: how many lot do u trade
ForexPlane.com Editor: my eurusd auto system has a buy signal now
Pat: oh
ForexPlane.com Editor: 1-2 standard lots
shaji: good
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ForexPlane.com Editor: not much but enough to help me sleep
peacefully at night
ForexPlane.com Editor:
shaji: sure haha
ForexPlane.com Editor: where you from shaji?
shaji: even on demo i trade maximum 2lot
shaji: dubai
ForexPlane.com Editor: wow!
ForexPlane.com Editor: i heard it's a beautiful place
ForexPlane.com Editor: changing alot
shaji: its hot climate
ForexPlane.com Editor: i'd like to the only 6 star hotel in the world
shaji: yep changing a lot
shaji: burj
ForexPlane.com Editor: one of my to-do list in this lifetime
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shaji: kool
ForexPlane.com Editor: do you have problems with the time difference
in trading?
ForexPlane.com Editor: esp. the AUD?
shaji: not really...when ever i have time i just practice
average holding time?
ForexPlane.com Editor: and you, saw?
Pat: That is nice...everyone is a learner in this trade
ForexPlane.com Editor: what pairs do you trade?
shaji: 2 hours
shaji: approx
ForexPlane.com Editor: you trade news then?
shaji: some what
ForexPlane.com Editor: 2 hours is good, not to short
ForexPlane.com Editor: should be enough for the move to complete
ForexPlane.com Editor: only problem is when it's consolidating
shaji: can u tell me ...as a beginner..what are the good thinks i can get
from this forum
ForexPlane.com Editor: it can take days before it moves again
ForexPlane.com Editor: so have to be patient
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ForexPlane.com Editor: just remember that when you practice
ForexPlane.com Editor: make sure you practice discipline as well
shaji: yep
ForexPlane.com Editor: it's one of the things beginners ignore
ForexPlane.com Editor: and only worry about finding the right strategy
ForexPlane.com Editor: when he does find it and start trading
ForexPlane.com Editor: discipline becomes a problem
shaji: correct
ForexPlane.com Editor: it happens to lot of people, including me
ForexPlane.com Editor: when i started
ForexPlane.com Editor: boy lost some good money there
shaji: thats the killing part
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ForexPlane.com Editor: just when you think you're ready
ForexPlane.com Editor: you're never ready
shaji: haha
ForexPlane.com Editor: when you think you know everything
ForexPlane.com Editor: you don't
ForexPlane.com Editor:
shaji: true
ForexPlane.com Editor: but part of life i supose
********** at 2:31 PM Saw left the room
ForexPlane.com Editor: live and learn but have to do cheap if you can
********** at 2:31 PM Saw joined the room
ForexPlane.com Editor: anyway, i have to go
shaji: which trading platform u use
ForexPlane.com Editor: i use tradestation
shaji: how is it
ForexPlane.com Editor: and mbtrading to order
ForexPlane.com Editor: tradestation.com
ForexPlane.com Editor: and mbtrading.com
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shaji: charges?
ForexPlane.com Editor: i like TS because you can program and create
your own trading automated strategies
ForexPlane.com Editor: $99/month
ForexPlane.com Editor: basic
shaji: ok
ForexPlane.com Editor: if you trade 10 round trips, 99$ is waived
ForexPlane.com Editor: mbtrading is order only
shaji: in a month
ForexPlane.com Editor: i have 2 programs right now
ForexPlane.com Editor: one for EURUSD and one for GBPUSD
shaji: ok...take care
ForexPlane.com Editor: it's decent but still testing
Pat: ok
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ForexPlane.com Editor: i plan offer the signals for free
ForexPlane.com Editor: on this site
ForexPlane.com Editor: if anyone is interested
shaji: me
ForexPlane.com Editor: i post the trades on my blog for now
********** at 2:35 PM shaji left the room
ForexPlane.com Editor: go over my blog to get an idea
ForexPlane.com Editor: how the strategy is going
ForexPlane.com Editor: once i set this up with the peple of this site
ForexPlane.com Editor: you can sign up to receive the signals
ForexPlane.com Editor: but remember demo trade it first
********** at 2:35 PM shaji joined the room
********** at 2:36 PM shaji left the room |
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