Forex/Cryptocurrency General Chit Chat Thread

[edwardZ]

weekends cannot trade forex

anyone trading crypto here over the weekend?

 

[havetheveryfun]

weekends cannot trade forex

anyone trading crypto here over the weekend?

eth capitulated

 

[Mr.Canberra]

Cryptocurrency

eth capitulated

NO STOP LOSS does not work for Cryptos!

ETH dropped the most today. Simi dai ji? Turkish citizens so obedient listen to their president and sell assets to buy Lira toilet paper?

In Jan 2018 peak, BTC 19,XXX and ETH 1380.

As of now BTC 6111 and ETH 309.

Those who bought near the peak in Jan 2018 and hold till now really GG! More heart pain than my S$5070 account explosion?

I have one BTC millionaire friend. I saw his account screenshot once. Over US$1 Million.

He sold near the peak but he went all in again around the 15,000 region. I think now not millionaire status liao! LOL! But in all fairness he bought BTC many years ago so overall still in the black just that not so rich as before.

Early this year he is still very active messaging on WhatsApp group chat. Now no sound no colour. Must be sibei sianz see his net worth drop so much.

This lesson teaches us, "做人不可以太贪心。见好就收手。" (Do not be too greedy. Take profit once you feel euphoria is taking over.)

 

[edwardZ]

This lesson teaches us, "做人不可以太贪心。见好就收手。" (Do not be too greedy. Take profit once you feel euphoria is taking over.)

this is very true, i myself had several experiences over this issue...paid the markets to learn here and there, mistakes everywhere...now i just take profit at targeted levels, does not matter how much i will lose out in opportunity cost because there will always (usually i guess) be another trade waiting out there

 

[edwardZ]

eth capitulated

yesterday i bought btc at around 6100 levels and take profit 6330...didnt expect the push to be stronger until 6500 ...now thinking if 6330 can be next short target and 6110 for next long target hmm

 

[havetheveryfun]

this is very true, i myself had several experiences over this issue...paid the markets to learn here and there, mistakes everywhere...now i just take profit at targeted levels, does not matter how much i will lose out in opportunity cost because there will always (usually i guess) be another trade waiting out there

not for forex though, if always take profit too early in forex, in the long term is lose

 

[Mr.Canberra]

not for forex though, if always take profit too early in forex, in the long term is lose

This also depends on your sizing. 1.0 Lot position can take profit faster than a 0.1 Lot position due to quantum and reduce exposure.

 

[Mr. Wood]

Uncles and aunties make prataing great again!
All times in SST

Tue Aug 14
9:30am AUD NAB Business Confidence
2:00pm EUR German Prelim GDP q/q
4:30pm GBP Average Earnings Index 3m/y
GBP Claimant Count Change
GBP Unemployment Rate
5:00pm EUR Flash GDP q/q
EUR German ZEW Economic Sentiment


Wed Aug 15
9:30am AUD Wage Price Index q/q
4:30pm GBP CPI y/y
GBP PPI Input m/m
GBP RPI y/y
8:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
USD Empire State Manufacturing Index
USD Prelim Nonfarm Productivity q/q
USD Prelim Unit Labor Costs q/q
9:15pm USD Capacity Utilization Rate
USD Industrial Production m/m
10:30pm USD Crude Oil Inventories


Thu Aug 16
9:30am AUD Employment Change
AUD Unemployment Rate
4:30pm GBP Retail Sales m/m
8:30pm CAD Manufacturing Sales m/m
USD Building Permits
USD Housing Starts
USD Philly Fed Manufacturing Index
USD Unemployment Claims


Fri Aug 17
6:45am NZD PPI Input q/q
7:30am AUD RBA Gov Lowe Speaks
3:30pm AUD RBA Assist Gov Ellis Speaks
5:00pm EUR Final CPI y/y
8:30pm CAD CPI m/m
CAD Common CPI y/y
CAD Foreign Securities Purchases
CAD Median CPI y/y
CAD Trimmed CPI y/y
10:00pm USD Prelim UoM Consumer Sentiment

 

[Mr. Wood]

weekends cannot trade forex

anyone trading crypto here over the weekend?

everyday trade weekend must learn to relax.
be like uncle Canberra. go eat wind, go unwind, think about other stuff besides trading.

 

[Mr. Wood]

Bitcoin Price Eyes Comeback as 250 Million New Tethers Enter Circulation

Cryptocurrency startup Tether issued $250 million in new tokens on Monday, sparking speculation that a bitcoin price rally could be inbound.

Blockchain data indicates that Tether, the creator of cryptocurrency “stablecoin” USDT (colloquially called tether), issued 250 million new tokens this morning, June 25.

USDT, which is pegged to USD at a 1-to-1 ratio, serves as a proxy for physical dollars on many cryptocurrency exchanges, owing to the fact that many trading platforms have difficulty obtaining the banking relationships necessary to hold fiat currency on behalf of customers. Over the past 24 hours, tether’s $4.2 billion in trading volume was second-highest among all cryptocurrencies, ranking behind only bitcoin.

That Tether is issuing new tokens is an indication that new capital is flowing into the cryptocurrency markets, since — at least according to the company — tokens are created when individuals or organizations deposit physical dollars into Tether’s reserve bank accounts.

Consequently, the release of these tokens could be a bullish indicator for the bitcoin price (and by extension the wider cryptocurrency market), considering, of course, that the owner could hold them for an indefinite period of time before trading them.

Monday’s creation of 250 million new tokens marked the first significant tether issuance since May 18, when Tether issued $250 million in USDT. The bitcoin price rose in the days following this event, from $8,100 on May 18 to $8,500 on May 21. However, that rally proved to be short-lived, and the bitcoin price shed more than $2,300 in the weeks that have followed.

Questions have long swirled about Tether’s solvency, particularly since the firm has never released an independent audit of its balance sheet.

However, last week, legal firm Freeh, Sporkin & Sullivan LLP (FSS) released a report indicating that USDT was fully-backed by physical dollars stored in Tether bank accounts, as of June 1. While not a full audit, the report was an important step toward rebutting allegations that the company has operated a fractional reserve, using unbacked tokens to manipulate the bitcoin price at key points during market swings.

The token currently has a circulating market cap of more than $2.6 billion, making it the 11th-largest cryptocurrency. According to Tether’s “Transparency” page, the firm is holding more than $3 billion in its reserve bank accounts, indicating that it could issue approximately $400 million in new tokens without exceeding its assets.

 

[Mr.Canberra]

everyday trade weekend must learn to relax.
be like uncle Canberra. go eat wind, go unwind, think about other stuff besides trading.

My 2019 USA or Europe jiak hong trip just went down the drain unless my ROI outperform by end 2018!

Can only afford regional countries for now. Furthest Japan and South Korea.

 

[edwardZ]

everyday trade weekend must learn to relax.
be like uncle Canberra. go eat wind, go unwind, think about other stuff besides trading.

because this weekend i free, so decided to earn abit of kopi money ...else ya, traders must always go have fresh air before next week's battle

 

[Mr.Canberra]

TRY

After 6 shots of whiskey I feel relax and calm to type this. After in depth research and consideration I can conclude TRY is cursed as long as this extremist siao lang runs the country. As bro havetheveryfun said it best TRY is a bottomless pit. My instinct tells me this contagion may accelerate.

Just cut another EUR/TRY position (0.1 Lot open in Apr 2018) at -US$4005 realised loss before Tokyo opening. No more TRY exposure! Anything can happen. TRY is worse than toilet paper. At least USD toilet paper have some value as backed by nuclear arsenal and big guns. TRY is a used sanitary pad backed by a dictator's rhetoric!

Today damage over the weekend about S$10,500 in total!

Actually feel better as just throw a big stone into the river!

 

[DukeCS33]

After 6 shots of whiskey I feel relax and calm to type this. After in depth research and consideration I can conclude TRY is cursed as long as this extremist siao lang runs the country. As bro havetheveryfun said it best TRY is a bottomless pit. My instinct tells me this contagion may accelerate.

Just cut another EUR/TRY position (0.1 Lot open in Apr 2018) at -US$4005 realised loss before Tokyo opening. No more TRY exposure! Anything can happen. TRY is worse than toilet paper. At least USD toilet paper have some value as backed by nuclear arsenal and big guns. TRY is a used sanitary pad backed by a dictator's rhetoric!

Today damage over the weekend about S$10,500 in total!

Actually feel better as just throw a big stone into the river!

When a country is in crisis, the currency will bear the brunt and there is no bottom in sight as they are up against the US. So unless there is a change in government and there is a let up of pressure causing this crisis.

I am just perplexed that the media keeps playing this contagion up as a reason for stock market sell offs. While European Banks may be impact, it should have lesser impact on other sectors and geographies such as the US. So think profit taking from the recent highs in S&P with this crisis providing an excuse as the main reason.

 

[revhappy]

USDZAR is up 5%!

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[havetheveryfun]

After 6 shots of whiskey I feel relax and calm to type this. After in depth research and consideration I can conclude TRY is cursed as long as this extremist siao lang runs the country. As bro havetheveryfun said it best TRY is a bottomless pit. My instinct tells me this contagion may accelerate.

Just cut another EUR/TRY position (0.1 Lot open in Apr 2018) at -US$4005 realised loss before Tokyo opening. No more TRY exposure! Anything can happen. TRY is worse than toilet paper. At least USD toilet paper have some value as backed by nuclear arsenal and big guns. TRY is a used sanitary pad backed by a dictator's rhetoric!

Today damage over the weekend about S$10,500 in total!

Actually feel better as just throw a big stone into the river!

going back up le .. feel sian bo

 

[revhappy]

going back up le .. feel sian bo

It can go down again. I won't touch it.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[Mr. Wood]

When a country is in crisis, the currency will bear the brunt and there is no bottom in sight as they are up against the US. So unless there is a change in government and there is a let up of pressure causing this crisis.

I am just perplexed that the media keeps playing this contagion up as a reason for stock market sell offs. While European Banks may be impact, it should have lesser impact on other sectors and geographies such as the US. So think profit taking from the recent highs in S&P with this crisis providing an excuse as the main reason.

yes I agree. big boys using excuses to take profit and trap retailers. if they want, humji lee die also can cause stock market crash

 

[havetheveryfun]

It can go down again. I won't touch it.

Sent from Xiaomi REDMI NOTE 4 using GAGT

thought earlier u say the swap quite good can tank

 

[revhappy]

thought earlier u say the swap quite good can tank

It is just too volatile right now. Entire 9% move from the morning wiped out. I have never seen something like this. Stocks are supposed to behave like this, not currencies.

Sent from Xiaomi REDMI NOTE 4 using GAGT