Forex/Cryptocurrency General Chit Chat Thread

[Takodoro]

Depends whether you are paying or gaining swap.



I am using both P*****p and P*********e.

Not recommending any particular platforms to use but just answering your questions. Sensitive question because snake oil selling suspicions will arise.

Sent you a PM with some questions

 

[Mr.Canberra]

Sent you a PM with some questions

One is local and the other one is foreign.

Anyway local brokerage account one I dare to maintain 5 figures or more inside. They have a physical office/support desk and very established.

Foreign brokerage account I maintain maximum 4 figures good enough. Any amount more than than that I consider it as a possible risk no matter how low.

In order to play NO STOP LOSS with 6 figures contracts you must have a credible broker because they will not liquidate your positions when/if margin burst. You will have a T+2 time frame to top up margin.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (MAR 19-23, 2018)

EURUSD:

Technical Outlook: The EURUSD continues to trade sideways in the medium to longer term horizon with the support level established around 1.2213 – 1.2184 holding the declines. However, in the near term, the EURUSD’s consolidation is shaping into a head and shoulders pattern as seen on the 4-hour chart, formed over the past few months. The neckline support is seen at 1.2213 – 1.2184 level which could be tested once again following the right shoulder formation. A break down below this level could quick escalate into a strong decline with the minimum projected target at 1.20 level. Alternately, an upside bounce off the support could see the EURUSD pushing to the upside which could invalidate the downside bias.

Fundamental Outlook: The week ahead turns out to be a relatively quiet one for the Euro markets. Most of the economic data focuses on second tier information which includes flash manufacturing and services PMI data spread across the week. The flash indicators will give an early glimpse into how the business activity in the Euro had fared. On the cards will also be the German ZEW economic sentiment indicators as well as for the Eurozone.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (MAR 19-23, 2018)

GBPUSD:

The GBPUSD has once again had a failed attempt to break above the big psychological number 1.4000. The inability to close above the big round number 1.4000 suggests that for the time being we can expect more consolidation. Any rally above 1.4000 should quickly fade away and the 1.4045 resistance level can put a cap to the bullish momentum. On the downside the 1.3770 remains the bottom of the current range which should act as support.

A break and a daily close below our support level can open up the door for a retest of 1.3570 our next significant support level. The stochastic indicator remains in neutral territory which means we don’t have any extreme positioning in the market that might suggest a reversal. On the upside the current yearly high 1.4315 remains the most crucial level for the bears. The UK economic calendar is heavy on major risk events that can disrupt the market volatility. Tuesday the CPI inflation figure is expected to be release. According to the market consensus the annualized inflation rate is expected to inch lower to 2.9% versus 3.0%. Wednesday, we have the Unemployment rate while Thursday the BOE interest rate decision is the highlight risk event of the week. The interest rate policy is expected to remain unchanged.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (MAR 19-23, 2018)

USDCHF:

Technical Outlook: The USDCHF broke out from the 0.9461 level of resistance and as a result it has validated the inverse head and shoulders pattern. The upside target comes in at 0.9629 level that could be tested in the near term. However, the declines back to the breached resistance level at 0.9461 could suggest a possible failure of the head and shoulders pattern unless price action manages to post a higher high. The bias in USDCHF remains balanced for the moment with the newly established support level at 0.9462 likely to be key for further development in the trend.

Fundamental Outlook: A slow week from Switzerland with no economic data worth mentioning will be compensated by a busy week from the U.S. The FOMC meeting is due on Wednesday and market expectations point an increase in the short term interest rates. The Fed will also be releasing its economic projections which could offer more insights into the path of rate hikes. Later in the week, the flash manufacturing and services PMI numbers will be coming out. On Friday, durable goods orders data will be released although the FOMC meeting is most likely to take the center stage.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (MAR 19-23, 2018)

USDJPY:

Technical Outlook: Price action in USDJPY remains biased to the downside although multiple retest of the support zone near 105.78 – 105.42 has proved the support level to hold the declines. With the USDJPY seen consolidating along the second falling trend line, we expect to see some upside bias building up. The divergence on the Stochastic oscillator remains in play for the moment which adds to the possible upside breakout in price. However, with price trading near the support level a possible downside breakout could potentially give way to further declines in USDJPY. Watch for price action to form a higher low off the support level which could indicate the upside move in prices. Resistance at 108.43 remains the key level that could be tested in this case.

Fundamental Outlook: Data from Japan this week is quiet with only the flash manufacturing PMI due on Thursday. Later on the same day, the national core CPI data will be released. The market data this week is unlikely to move the Japanese yen much. However, the ongoing uncertainty surrounding Trump’s policies on monetary policy is likely to influence the market sentiment which could see some volatility in the yen.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (MAR 19-23, 2018)

USDCAD:

The USDCAD made a strong move for the bullish case after it has successfully broke above the big psychological number 1.3000. We don’t have any major resistance close to the current price so only a sell off and a daily close below 1.3000 can give the bears another chance to take control of this market.

The stochastic indicator is already in overbought territory so early in the week we won’t be surprised to see the USDCAD take a step back and lose some of the previous gains. On the downside, a daily close below 1.3000 can open the door for a retest of 1.2800 our next significant support level. There are no major risk events coming out from the Canadian economic calendar but from the other side of the monetary policy spectrum we have the Fed interest rate decision which is expected to hike rates for the first time in 2018 from 1.50% up to 1.75%. Thursday we have the BOC Wilkins speech.

 

[Mr. Wood]

WEEKLY FOREX MARKET OUTLOOK: (MAR 19-23, 2018)

AUDUSD:

The Aussie unexpectedly was among the weakest currency against the greenback. The sell off brought the AUDUSD to new lows but since the stochastic indicator is already in extreme oversold territory we can expect early in the week the bearish momentum to fade away. Our next support only comes at 0.7650 but it should take a lot of effort to get back down there. On the upside the only major resistance level comes at the previous support 0.7800 which now should act as resistance.

We have some notable risk events scheduled on the Australian economic calendar. On Tuesday, the RBA Meeting’s Minutes followed by the RBA Assistant Governor Bullock speech are the risk events that trader should pay attention. Last but not least, Thursday will bring the Australian unemployment rate which tends to have high impact on the currency exchange rate.

 

[Mr. Wood]

Economic Announcements this week (all sst times)
Tues: RBA Meeting Minutes 0930 am
GBP CPI 5.30 pm

Thurs: Fed Interest Rate 2 am
Aud Unemployment Rate 9.30 am
BOE Interest Rate Decision 8 pm

Fri: CAD Retail Sales 8.30 pm

 

[Mr. Wood]

I is just post count only. BB all priced in major news alrdy. dun take too seriously.

 

[rider83]

Economic Announcements this week (all sst times)
Tues: RBA Meeting Minutes 0930 am
GBP CPI 5.30 pm

Thurs: Fed Interest Rate 2 am
Aud Unemployment Rate 9.30 am
BOE Interest Rate Decision 8 pm

Fri: CAD Retail Sales 8.30 pm

Thank you Mr Wood

 

[Mr.Canberra]

Thank you Mr Wood

Thumbs up to Mr. Wood for making this thread great and Mod for taking care of the trolls promptly!

 

[ExtremeWays]

Power là New York Bulls

 

[Mr.Canberra]

Mr.Canberra Forex Trading Performance 2018

____________________________________________________________
PROFIT & LOSS (REALISED) 2018

30/06/16 - 30/06/17: S$4003.67 [2016 ROI 27.61%]
31/07/17: S$1264.09 [Jul ROI 8.42%]
31/08/17: S$5806.60 [Aug ROI 35.69%]
30/09/17: S$4157.42 [Sep ROI 15.94%]
31/10/17: S$1944.68 [Oct ROI 5.85%]
30/11/17: -S$1843.27 [Nov ROI -5.24%] <-Drunk trading. One off folly.
29/12/17: S$1299.92 [Dec ROI 3.90%]
31/01/18: S$1565.13 [Jan ROI 4.52%]
28/02/18: S$1706.80 [Feb ROI 4.72%]
16/03/18: S$645.95

~17 trading days till date for month of Mar 2018.

LIFETIME PERFORMANCE SINCE JUN 2016 (20 MONTHS)
110.58%

STRATEGY: CARRY TRADE/NO STOP LOSS
____________________________________________________________

Slow and steady wins the race.

 

[lasnoblur]

____________________________________________________________
PROFIT & LOSS (REALISED) 2018

30/06/16 - 30/06/17: S$4003.67 [2016 ROI 27.61%]
31/07/17: S$1264.09 [Jul ROI 8.42%]
31/08/17: S$5806.60 [Aug ROI 35.69%]
30/09/17: S$4157.42 [Sep ROI 15.94%]
31/10/17: S$1944.68 [Oct ROI 5.85%]
30/11/17: -S$1843.27 [Nov ROI -5.24%] <-Drunk trading. One off folly.
29/12/17: S$1299.92 [Dec ROI 3.90%]
31/01/18: S$1565.13 [Jan ROI 4.52%]
28/02/18: S$1706.80 [Feb ROI 4.72%]
16/03/18: S$645.95

~17 trading days till date for month of Mar 2018.

LIFETIME PERFORMANCE SINCE JUN 2016 (20 MONTHS)
110.58%

STRATEGY: CARRY TRADE/NO STOP LOSS
____________________________________________________________

Slow and steady wins the race.

nice. are you full time?

 

[Mr.Canberra]

nice. are you full time?

Yes. Forex trading part is the smallest portion of my assets but has the highest ROI.

I trade less when I have project (on and off) to handle.

 

[Mr.Canberra]

USD

USD toilet paper sell off should continue after retracing some losses in early Asian session.

Once London session starts I anticipate the sell off will continue where New York session leave off.

This week near term will be USD short bias. If Fed hints on a 4th rate hike on the dot then USD will spike.

 

[Mr.Canberra]

Mr.Canberra Forex Outlook

http://sbr.com.sg/economy/news/brace-more-price-hikes-amidst-possible-mas-tightening

How many times these analysts get it right? If they do get it right all or at least 90% of the time then retail investors will not lose money liao. We must analyse independently or have a contrarian view because they are vested. Just like property agent will always say NOW IS GOOD TIME TO ENTER market!

I do not believe MAS will tighten SGD this year because Uncle Trump is on a mission to disrupt a lot of domestic/international policies that will affect global economics.

I believe neutral stance will continue for now. If you study MAS monetary policies meticulously you will notice that they will stay on a consistent and gradual course once they set a direction. Changes will come very slowly unless unforseen financial crisis happens somewhere. This is good because stability boosts investment confidence.

In the month of March I have added two EM currencies into my basket of currencies. Turkish Lira (TRY) and South African Rand (ZAR). Very small amount for a start.

Balance for Trading
CAD
CHF
JPY
SGD
TRY
USD
ZAR

Balance for Non-Trading
CNY

~'QE' stimulus target US$1 Million balance sheet. No set deadline and not affected by Fed balance sheet reduction schedule.
~Partial asset rotation from CNY Fixed Income to Forex Trading in 2018 due to consistent increased ROI.

There is a possibility China may devalue CNY should Uncle Trump escalate trade tariffs. This year I am trimming down some liquid CNY holdings to use as bullets for trading purposes. Good to price in for possible CNY downside risks a little.

PS: To those new readers please take note my unorthodox investment and trading strategies work for me but does not necessary will work for you. I am very hardcore when it comes to flipping money for money. Currently I am only halfway to reach US$1 Million balance sheet on leverage. US$450,000-500,000 worth of Forex contracts rollover month after month. You all dare or not?

 

[havetheveryfun]

Yes. Forex trading part is the smallest portion of my assets but has the highest ROI.

I trade less when I have project (on and off) to handle.

never show him ur unrealized loss to warn him about this strategy

 

[awful999]

How many times these analysts get it right? If they do get it right all or at least 90% of the time then retail investors will not lose money liao. We must analyse independently or have a contrarian view because they are vested. Just like property agent will always say NOW IS GOOD TIME TO ENTER market!

I do not believe MAS will tighten SGD this year because Uncle Trump is on a mission to disrupt a lot of domestic/international policies that will affect global economics.

I believe neutral stance will continue for now. If you study MAS monetary policies meticulously you will notice that they will stay on a consistent and gradual course once they set a direction. Changes will come very slowly unless unforseen financial crisis happens somewhere. This is good because stability boosts investment confidence.

In the month of March I have added two EM currencies into my basket of currencies. Turkish Lira (TRY) and South African Rand (ZAR). Very small amount for a start.

Balance for Trading
CAD
CHF
JPY
SGD
TRY
USD
ZAR

Balance for Non-Trading
CNY



There is a possibility China may devalue CNY should Uncle Trump escalate trade tariffs. This year I am trimming down some liquid CNY holdings to use as bullets for trading purposes. Good to price in for possible CNY downside risks a little.

PS: To those new readers please take note my unorthodox investment and trading strategies work for me but does not necessary will work for you. I am very hardcore when it comes to flipping money for money. Currently I am only halfway to reach US$1 Million balance sheet on leverage. US$450,000-500,000 worth of Forex contracts rollover month after month. You all dare or not?

i dare not