Raining pips April edition

I noticed that Fitch cut Greek debt by 2 notches..thats why we saw some drop in the LB and EU.

Greece cut to BBB- debit rating with negative outlook by Fitch...no shit

dollar index 81.07........what a way to close out the week...the dollar has been kicked around in the US session all week...

GOLD streaking to close week new highs for the year...i think i will wait to sell AU...maybe a stab at 94

20-25 BLN loan to Greece at 3.4%.here comes 1.36 for you to shrt Wall...

Wall i know ive asked b4 are you trading with Deltastock now?

News now saying loans will be at 6%..bad news as they needed 5% to be below debt to GDP

Lets see if they sell here the last few hrs

Yep..did you check them out and what did you think?

Sorry again I was out testing some golf clubs for a few hours.

I think this is a short term bandaid..they will need more and lets see how the spreads on their debt behave, that will tell more than the interest rate on the loan.

I havent checked that site but i was using the MT4 here with my broker...just opened a moneybookers account...did you go for the 20% bonus and how does that work?I saw the 10k to 1 turnover on the bonus

Im going to open a mini to start...have you traded anything other than forex with that site?How do you like the platform?Customer service ok?Ive sent them some questions i had but no reply from them so far...

buck,

I havent traded the other instruments but they have a TON of choices from index futures to commodities to stocks on foreign exchanges.

I am doing the 20% bonus and the pips rebate from a site we discussed a while back.

The platform is the same as I have with FXDD, the MT4, I have been using the Level II platform and it took a bit of getting used to and I dont use the charts on that platform, rather I keep the Mt4 AND the Level II up so I can use the charts from the MT4 and the entry from the Level II.

Customer service seems fine, no issues..but I havent needed much help.

Do they have live help where you can talk to someone directly? I forget if they do or not.

The rollover doesnt matter to me either since if I plan on being there longer term that wont be an issue. I consider the 20% bonus enough to cover my Level II costs since I am ok paying a small ammt to get that awesome spread.

What are the level ll costs and which pip rebate site are you using?

buck,
link

The Level II fee is a half a pip, but with the rebate on that site (there are others too you can choose from but I went with them) the net cost is .25 pips..not bad.

Thx Wall

have a good weekend

Same to you..

how about that open.........

Wall you around today?

Im thinking about going shrt EU/JPY....

yep..

Have a EU.US order in to short at 1.37

EU/JPY has only given up 5 pips of the gap...with this gap it has move the 100day ma to 1.2713

We are sitting just below 127 now and the MA is all the way down at 12644

Well I wonder if there is a correlation between certain percentage gaps from MAs and when there is a higher liklihood for it to revert towards the mean (MA)

Sorry for that last message just in a hurry...meant to say 100 day at 12713 and the next ma/support is 1.2644

I dont know but if you read around most studies show "TRADING THE GAP" works about 80% of the time....that is selling GAP UPS gap down are break away gaps and often lead to futher selling sometimes staying open for months...

That being said i sure did jump in the wrong pair as EU/USD has dipped 60+pips

You went long the EU?

From everything I read it was a lock for it to drop after the initial open.

I dont get why it would run up outside short covering..they are loaning Greece 30B and who knows if that is all they need, let alone others in the union who probably are right behind.

Wow i thought i was looking at the 4hr EU/JPY...those MAs are from the daily so this might be a bad idea as it only needs to move a few pips and should have some support...

Nearest MA on 4hr is 12599...

No im shrt EU/JPY...im not messn with EU/$ right now...though i shouldve bought last week i thought 134 was coming with the way the dollar index was looking....ths gap is pure insanity.

Trades these gaps looking for them to close

Now we moving

AUD has almost closed its gap....