Clipmarks | AcesLucky's FOREX collection

Dollar loses ground as oil set to rise

Thu, 19 Jun 2008 15:21:16 GMT

clipped by: AcesLucky
clipper's remarks: Time to open up the reserves. Is anyone in congress listening?

FRANKFURT, Germany (Associated Press) -- The dollar fell against the euro Thursday as oil prices looked set to rise on reports of a Nigerian oil field attack.

Olav Ljosne, a spokesman for Royal Dutch Shell confirmed an attack, but gave no details. He said production had been stopped from the field, which normally produces about 200,000 barrels of crude per day.

The British pound rose to $1.9622 from $1.9569, while the dollar slipped to 107.50 Japanese yen from 107.99 yen in New York late Wednesday.

Tags: forex, oil, dollar, pound, currency

Dollar Sinks Against Euro

Thu, 13 Sep 2007 02:08:57 GMT

clipped by: AcesLucky
clipper's remarks: Major Fed rate cut? Watch for Sept. 18, 2007 -- or before!

Clip Source: www.forbes.com

Dollar Sinks Against Euro

The euro got a boost and zipped up to a new all time high on Wednesday, as expectations that the Federal Reserve will cut interest rates mounted. Given that the European Central Bank is still expected to raise interest rates, unlike its U.S. and British counterparts, the euro likely will continue to rise and could even break through the $1.40 barrier before the end of the year.

The euro was trading at $1.3878 in morning trading in Europe on Wednesday, beating its previous all time record of $1.3852, reached in July. It closed at $1.3841 the day before.

However, he added that the euro was gaining some independent strength, as the European Central Bank is still expected to raise its key interest rate by the end of the year to 4.25% from 4.0% currently. The Bank of England, which has hiked its corresponding interest rate five times in the past year, is now expected to maintain its 5.75% level.

Tags: forex, currency, dollar, euro

A New Currency, A New North America -- The Amero

Wed, 11 Jul 2007 04:10:38 GMT

clipped by: AcesLucky
clipper's remarks: No more America as we know it. A super state of the U.S. Canada, and Mexico.

Clip Source: www.youtube.com

[Video]

Lou Dobbs: North American Union Orwellian Brave New World

Tags: bush, cheney, amero, currency, north american union

Forex: Placing Better Stops

Thu, 31 May 2007 17:51:06 GMT

clipped by: AcesLucky
clipper's remarks: Working "with" stop hunters, or foiling them. Good article.

Clip Source: placingbetterstops.blogspot.com

Stop location determines position size, not the other way around!Money management and risk control rules are great, but make sure you apply them in the correct sequence. Let's say you have a rule that you will risk no more than 1% of the account equity, or $50, on a single trade. You decide to take a short position on 10,000 NZD/USD at 0.6600 which means that each pip of movement will equal $1.00. So your stop should be 50 pips back at 0.6650 right?

Well actually...not really. This reasoning is backwards. We took our money management rule and our position size and used those values to calculate our stop loss point in the market. But this doesn't really make sense because why should the market care what your rules and position size are?

1. Pick your stop location first, then base your position size on that, not the other way around.

2. To find a good place for a stop, pretend that you're considering a trade in the direction of the stop.

Tags: forex, investing

Stop Hunting the FOREX

Wed, 11 Apr 2007 15:45:13 GMT

clipped by: AcesLucky
clipper's remarks: How to hunt those "stops", and how to not be a victim of "stop hunters".

Clip Source: www.investopedia.com

Stop Hunting With The Big Players

Because of this unusual duality of the FX market (high leverage and almost universal use of stops), stop hunting is a very common practice.

The fact that the FX market is so stop driven gives scope to several opportunistic setups for short-term traders.

The "stop hunting with the big specs" is an exceedingly simple setup, requiring nothing more than a price chart and one indicator. Here is the setup in a nutshell:

Tags: forex

Cognitive Biases related to FOREX trading

Sun, 08 Apr 2007 17:48:52 GMT

clipped by: AcesLucky
clipper's remarks: Plus a couple more...

Clip Source: healthbolt.net

Pseudocertainty effect - the tendency to make risk-averse choices if the expected outcome is positive, but make risk-seeking choices to avoid negative outcomes.

Status quo bias - the tendency for people to like things to stay relatively the same.

Zero-risk bias - preference for reducing a small risk to zero over a greater reduction in a larger risk.

Tags: forex, currency trading, investing