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Only because the likes of japanese housewives trade it. 90 pct of ccy market daytraders blow up in the first year. only very few smart players. Ccy markets are intransparent and distorted by big players/ real money order executions ... it doesn't show on times and sales.

Don't count on Yen for ES direction, it has started to decouple, correlation is waning. It only makes catch up moves. Gold is a better indicator now for risk aversion.

Why react at all if you think this is the case. Wave's recent calls were extreme, but they all materialised. Nothing short of spectacular. So ego or not, what do we care. I take out of the thread what is in it. And happy to give some credit to those like wave who have credibility by...

chatter/ rumour that the SEC is to suspend mark-to-market accounting. The rally may have been fueled by this rumour. If so, this is rather bad news in the medium term... someone doesnt want to report losses...

I know you guys mainly looking at price action and technicals, but wanted to share the following with you. A few lesser known, but very good indicators pointing higher today and causing some concern for bears (like myself)... 1. The Baltic Dry Index started to turn up last few days and...

yep, and now i saw him being on the bid 847.75.... 5000 +

says who? why are u here then? why don't u just f off!

And I'm getting fed up with FX after 20 years ... trying to shift to ES and commods... Don't want to clutter the thread but the correlation fx / es can be +1 for days and then all of a sudden its -1, enuff to make you give back in 10 seconds what you made in 7 days... just because a big...

eur/jpy is only a second derivative of what happens in ES... a 10 tick move in ES as we saw just now up and down =1.1 pct translated into eur/jpy is exactly the same move (from 117.75 to 116.45) , but it all starts in ES... all us FX traders now watch ES

Only in Germany there are no speed limits, to be correct. And only on certain motorways.

I hear ya, I'm in the same boat. The other point worth mentioning about RTH and AH: it s the europeans pushing it lower 3 times, and the americans buying the dips with success every time with almost no pullbacks. the RTH traders (americans, smart money) want to push it lower on their own...

IMHO the smart money is simply squeezing out the weak shorts. but eventually we will trade lower, as the smart money looks for a higher entry level to go short themselves. everything points to a major move lower. for instance: not sure anyone looks at the Itraxx Crossover (Credit default...

just to say how much BS this sort of attitude is... 3 days in a row the way up and the rejection of the support was much faster than the way down... weak shorts get squeezed time and time again here . sorry...

funny, I think just the opposite. there seems to be a bear bias here. dangerous, as I worry about a squeeze higher, given the speed of every bounce... look at yesterday: 1 way up and a lot of pain for those who were suggesting that selling was the easiest way to make money....

exactly, it's disappointing. you get long but it doesn't go anywhere and you end up with an opportunity cost. leveraged players buy each time and get stopped, time and time again. eventually it will break higher and they will only recoup the earlier losses. Also, let's not forget...

what currency should be bought then? at present levels? everything is crap right now, apart from gold.

I have been trading currencies professionaly for 20 + years. And I find that now is probably the worst time to trade them. I have switched to stock index trading for the time being. Why? The equity markets is where the action is and currencies are almost 100 percent correlated to what...

Jim Rogers has a big problem with timing, and he has admitted that several times.. Of course the pound was overvalued at 2.1000, at 1.9000 and 1.7000 last year. But, would you sell cable at 1.3700 after all the smart money has sold already? Hardly good advice for short term traders...

What's the rationale behind your call? Anyone can make outrageous calls. Especially economists who need attention. If they're wrong it doesn't cost them any money. If they are right, they look like stars. No wonder good economists were never good traders.... Don't be proud - be rich!

Currencies are just a derivative from what happens in ES. I can tell you all ccy traders watch the ES these days. Myself included.