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10.4 A Complete System
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Author:  Ingot54 [ Fri Apr 12, 2013 2:42 am ]
Post subject:  Re: 10.4 A Complete System
Chris wrote:So what do you all think about bitcoin? How long will it be before we are trading it on the FX LOL
Chris - there is a topic on it here:

http://www.stevehopwoodforex.com/phpBB3 ... f=6&t=1961

Cheers - Ivan
Author:  Ingot54 [ Fri Apr 12, 2013 2:52 am ]
Post subject:  Re: 10.4 A Complete System
OK people - this is the news event of the day.

At 1310 hrs today that that's about 20 minutes after this post hits the thread, Governor Kuroda of the BOJ "speaks."

I am closing my XXXJPY positions before that event ... I don't expect anyone to do that though - it's just me.

I will wait until after the dust settles, and just grind out pips where I can afterwards.

I am not suited to news trading, and it might just be that I can get a great entry at better prices for my JPY pairs.

This is important news, because the market does not know whether the BOJ wants to hose down the rapid demise of the YEN, and opt for a more orderly weakening ...

or ...

whether he will sound pleased with the efforts, and signal even more to come, more rapidly.

This may move the market like the March 2011 Earthquake ... or not.

Be careful ... this is just a heads-up.
Author:  mageous [ Fri Apr 12, 2013 3:18 am ]
Post subject:  Re: 10.4 A Complete System
cmeade2 wrote:This is a scenario in a recent book that I read that everyone on this thread should read. It's called "Currency Wars", and it details how the current paper currency world will unravel pretty soon.
Chris wrote:So what do you all think about bitcoin? How long will it be before we are trading it on the FX LOL
Thanks for recommending this book. I assume is the one from James Rickards
http://www.amazon.com/dp/1591845564
Author:  mageous [ Fri Apr 12, 2013 4:28 am ]
Post subject:  Re: 10.4 A Complete System
Ingot54 wrote:OK people - this is the news event of the day.

At 1310 hrs today that that's about 20 minutes after this post hits the thread, Governor Kuroda of the BOJ "speaks."

I am closing my XXXJPY positions before that event ... I don't expect anyone to do that though - it's just me.

I will wait until after the dust settles, and just grind out pips where I can afterwards.

I am not suited to news trading, and it might just be that I can get a great entry at better prices for my JPY pairs.

This is important news, because the market does not know whether the BOJ wants to hose down the rapid demise of the YEN, and opt for a more orderly weakening ...

or ...

whether he will sound pleased with the efforts, and signal even more to come, more rapidly.

This may move the market like the March 2011 Earthquake ... or not.

Be careful ... this is just a heads-up.
Ingot54, can you share where you get the info on Governor Kuroda speaking?
can't seems to find it anywhere, thanks
Author:  Chris [ Fri Apr 12, 2013 4:32 am ]
Post subject:  Re: 10.4 A Complete System
http://www.forexfactory.com/ is a good news source with a calendar of events
Author:  garyfritz [ Fri Apr 12, 2013 4:32 am ]
Post subject:  Re: 10.4 A Complete System
Ingot54 wrote:OK people - this is the news event of the day.
At 1310 hrs today that that's about 20 minutes after this post hits the thread, Governor Kuroda of the BOJ "speaks."
I swear I am psychic -- in the wrong direction.

I didn't see your post, nor did I see the news about Kuroda. I had been waiting for a pullback ever since I foolishly exited my USDJPY/GBPJPY longs this morning, about 15 hrs ago.

There was a good pullback this afternoon/evening, and then a bit of strength, so I jumped into NZDJPY and EURJPY. About 2 minutes before Kuroda took the stage.
Pathetic.gif
Oy vey. My timing is just amazing.
Author:  Ingot54 [ Fri Apr 12, 2013 4:43 am ]
Post subject:  Re: 10.4 A Complete System
mageous wrote: Ingot54, can you share where you get the info on Governor Kuroda speaking?
Can't seems to find it anywhere, thanks
Chris is right, Mageous - this is where I get most of the news from - it is still quite a good source:

http://www.forexfactory.com/

You can actually subscribe to some news sources ... but honestly, you do not need more than the warning FF gives in advance, of pending important news releases.

And as for the actual news itself - I don't bother even thinking about taking a trade on it ... unless it is a decision NOT to be in a trade :)
Author:  nanningbob [ Fri Apr 12, 2013 4:55 am ]
Post subject:  Re: 10.4 A Complete System
http://www.boj.or.jp/en/announcements/p ... 0412a1.pdf

BOJ laid out its policy. It is clear concise and easy to understand. You want to save your account dont try buying JPY. Simple. Catch the retraces and climb on board. If you want to understand the policy and positions of Japan over the next several years just look at the chart on page 4. This is just the beginning. Every time there is pullback BUY, Simple. Sell xxx.JPY until CSS shows someone else taking over the bottom position. The only positions you have to worry about now is the USD is sliding faster than the JPY the last couple of days. That should not last long unless Congress and the President keep ducking their responsibilities.
Author:  Logs [ Fri Apr 12, 2013 4:57 am ]
Post subject:  Re: 10.4 A Complete System
Here is another good source, you get pictures too sometimes.
http://www.forexlive.com/
Author:  nanningbob [ Fri Apr 12, 2013 4:59 am ]
Post subject:  Re: 10.4 A Complete System
Ingot54 wrote:
mageous wrote: Ingot54, can you share where you get the info on Governor Kuroda speaking?
Can't seems to find it anywhere, thanks
Chris is right, Mageous - this is where I get most of the news from - it is still quite a good source:

http://www.forexfactory.com/

You can actually subscribe to some news sources ... but honestly, you do not need more than the warning FF gives in advance, of pending important news releases.

And as for the actual news itself - I don't bother even thinking about taking a trade on it ... unless it is a decision NOT to be in a trade :)
Actually I am finding the understanding of Macro-economics to be the best trading help in Forex. On those things that move the market at the monthly level are worth listening to. John Maudin's book "End of the Debt Super Cycle" is an excellent read in simple laymans terms. You can get a good grasp of what is going on from it. I suspect we will be bouncing between the Euro hitting the news and Jpy for most of this year, with the USD sprinkling in some trouble now and then. SNB will ruin trading the CHF most of the time but not all and GBP will bounce around like a ping pong ball.
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