don't worry, I am for the most part a vegetarian, but I try to eat a little meat now and then, but when I got to the store all they had left was a Flinstone's sized porterhouse, and that was too much, so I just bought some small lambchops and ended up getting embroiled in the market and got too tired to cook them. at anyrate, I am finally even for the day, and I have been working at this since 16:15 est which is when IB resets my previous days account balance. Man, I really got hit hard on that jobs number. I was on the wrong side of AUD/JPY and I have had to scalp my way back all morning. Been a while since I did any scalping, but now I have an idea. AUD is really great, I don't know why everybody doesn't trade it.
yeah, I think I'll take your advice. Maybe not always, but looks like a good weekend to get flat, since just about everything I have on is crap, whether it's winning or losing. one thing I hate about being flat on the weekend is it takes forever for the spreads to tighten back up on Sunday to get back in. Normally my chances on Sunday are about as good as a bet on the Superbowl, but I guess this weekend I have an option.
wow, another big move in AUD last night. What the hell was that all about? I'm guessing it had something fundamental to do with some kind of rates or something. Starting to wonder if there is a god. Haven't used stops in a long time due to certain unpleasant factors. But I had to do something and was 50% long and 50% short AUD so I just entered stops for everything both to stop loss and to add in case anything happened since it had been so slow all day. Next thing I know, I am watching TV half asleep and everything gets hit, all my losers get stopped out and all my winners get added to. I never did check. Anyone know the reason for the big move?
ok, now be tender with me, I'm just a beginner, RBA, surely that can't stand for Royal Bank of Austrailia? I am long these guys because they have been good to me. So if they don't cut rates that is bullish, and if someone does cut rates that is bearish. Well hell, no wonder USD isn't tanking. how much lower than zero can you go? otherwise, If I'm going to be trading AUD I should probably know where and when do they announce these things? Would I have known it if I was watching squawkbox on CNBW?
RBA does stand for Reserve Bank of Australia. the no cut in aussie and subsequent rally was carry trade related. or so it will be reported.... the market will choose to focus on another factor if/when it desires. i do not trade off fundamentals but am aware of releases/times. i imagine cnbc asia would cover this google "forex news release times" for a website.
well, Reserve Bank is better than Royal Bank. Man you're all business aren't you? Anyway, I got it, people like currencies that pay high rates. Shit man, I could probably make a fortune if they go back to the Drachma. otherwise , I'm kind of serious about AUD and it has both ways to go, so if I'm too long I could get hurt if they lower rates. thanks for the info If you don't mind indulging me (like I said I am just a beginner) Why would they lower rates? We did it over here and you see where that got us. Anyway you look at it, the Fed fucked us up with interest rate price controls. I don't know that much about it, but AUD seems to be a more market driven currency, that's why I like being long, at least against JPY and USD.
the carry trade will continue until the focus changes. australia is looking at cutting rates because it has a two-tier economy mining sector still moving ahead but manufacturing, retail etc dragging leading to job losses. looking to pump prime the economy. probably need infrastructure spending/projects to create jobs while both major political parties want to prove it is the more fiscally conservative when neither could organise a piss up in a brewery.
yeah, I've seen those guys in action. Watching the Australian Parliment is like watching a reality TV show. well thanks for the info