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March 12, 2024 at 6:47 pm #2908
Belgrade Bobby
Keymaster
Monedge, you brought back some memories 😀

It was mid 90’s and I was on the desk of a Middle Eastern bank – off shore outfit ..

We had a Forex dealing desk , and had regular clients – HNWI – we called them High Net worth Individual Suckers , but some of them became good friends.

Between tens of different stories ( each man had a story to tell 😀 , two cannot be forgotten :

One had a Nickname – Goddammit , I Should Sold it, and the other was called behind his back – BOBBY , BUT WHY NOW ??

Such a fond memories 😀
March 12, 2024 at 6:34 pm #2907
Mtl JP
Participant
maybe bailey should be consulting with Elvira Sakhipzadovna Nabiullina
March 12, 2024 at 6:32 pm #2906
Mtl JP
Participant
geezus … what is putin doing right and the un-named doomsayers wrong ?

The Economist: Russia’s economy once again defies the doomsayers
https://www.economist.com/finance-and-economics/2024/03/10/russias-economy-once-again-defies-the-doomsayers

I want names. Name the doomssayers !
March 12, 2024 at 6:22 pm #2905
Mtl JP
Participant
who has a link to bailey’s original yak ? – tia

–

I am intrigued that baily – not exactly a 100 watt shining lightbulb of central banking – would appoint himself leader / spokesman “for central banks now is what they must do” to … blablabla (ref post below)
March 12, 2024 at 6:08 pm #2904
Mtl JP
Participant
1:39 GVI Forex / back to square one
–
I dont think so. Inflation fight not going according to hope (ie. confidently towards his 2% trgt).
So what is he to do now: try to move the goalposts by reminding players of his earlier “average 2% over time” ?

I am perplexed at how jerome is able to get himself into a pickle with his yik-yak.

check this out: Inflation Expectations Stable at the Short-Term, Rise at Medium and Longer-Term Horizons
https://www.newyorkfed.org/microeconomics/sce#/inflexp-1
March 12, 2024 at 5:53 pm #2903
Mtl JP
Participant
earlier bailey
–
LONDON, March 12 (Reuters) -Bank of England Governor Andrew Bailey said on Tuesday that the main question for central banks now is what they must do to get inflation to stay at target levels and how restrictive rates will need to be.

“The question for us now, as central banks, is actually what will it take to get it to stay at our 2% target on a sustained basis? That’s the key,” Bailey said during a panel discussion organised by the Bank of Italy.

“This whole question about restrictiveness and the question of restrictive relative to what … I think is now key.”

The BoE last month held interest rates at their highest since 2008 but said it was putting borrowing costs under review as it forecast inflation would fall to its 2% target in the April-to-June period.

—

10-yr 4.155%
top of hour yellen’s USD39 Bln 10-Year peddling
March 12, 2024 at 5:44 pm #2902
GVI Forex 2
USDCAD 4 HOUR CHART

The range is well-defined at 1.3469-1.3525

The key focus for this pair is the magic 1.35 level as that will dictate which direction this pair eventually moves.
March 12, 2024 at 5:23 pm #2901
SF Monedge
Participant
GV I cannot imagine a better place to converge. GVI is the real thing. This is the place to be.
March 12, 2024 at 4:52 pm #2898
GVI Forex 2
Monege, when we first created the Forex Forum there were no threads or bulletin boards. Our design was based on recreating the old bank dealing room where traders in the room were constantly quoting two-way prices to other banks. So, it was important to let the other trades know when a foreign bank traded on your price. There were no screens or electronic trading so you always shaded the market based on your position and view. It was hairy trading but a lot of fun. True market makers, not like today.

This was (and still is) the design of our Forex Forum where we look to exchange information for the benefit of all.
March 12, 2024 at 4:39 pm #2897
GVI Forex 2
EURGBP 30 Minute Chart

if you are looking for a reason why GBPUSD bounced off its low

1) First look at my GBPUSD post below

20 Look at this EURGBP chart (you can also look at other GBP crosses but I like this one as it is pretty clear where the flow is going).
March 12, 2024 at 4:23 pm #2896
SF Monedge
Participant
There are times we are considering what would amount to an incorrect move and the team here will let you know they think you are making a mistake. The team here has prevented me from doing so more than once. The best of us have struggles, the team counts.
March 12, 2024 at 4:08 pm #2890
SF Monedge
Participant
Bobby, a long time ago I was trading currencies out of a firm called Tokyo International in San Francisco. They were largely Elliot Wave carefully gave us room to use something if it worked and they had gained trust in you. There was a lot of yelling and throwing things at the office walls lol. Highly competitive, like a sports team. At the end of the day we all went to Japan town or an expensive restaurant in the financial district and made up, so we could live to fight another day together. It was ok to get arub on the head for a courageous day, but we tempered it inevitably. Everyone is under pressure doing what we do. I learned to shout across the room when you see a setup, like JP’s head and shoulders view.
March 12, 2024 at 3:55 pm #2889
SF Monedge
Participant
I like the discourse. Currency traders have a lot of spirit. In the spirit of viewing cross currencies, I am very dialed in on GbpChf this week and believe the hard sell to the 1170 area on the data did not compromise the average true range of the bigger picture and see decent probabilities for the pair to search for fair value back toward 1250. That would transfer to other Sterling pairs of course. So the plan for me today was to close everything last night and hope for a failed downward strike, which we got this time. So I am looking for the pair to run out of gas a bit higher than current market.
March 12, 2024 at 3:36 pm #2887
Mtl JP
Participant
maybe get on with technological times and offer kitchen sink: hand clapping, applause, cheer etc for the isolated lonely hearts to help with engaging in social interaction with faceless “friends”
March 12, 2024 at 3:00 pm #2885
Belgrade Knez
Participant
Mtl JP 2:55 pm
I am sorry for being childish and friendly to you serious man!
March 12, 2024 at 2:58 pm #2884
Belgrade Bobby
Keymaster
Mtl, if it doesn’t mean shit to you, not necessarily applies to everyone. And being childish is my middle name.
March 12, 2024 at 2:57 pm #2883
GVI Forex 2
As I posted below

Follow the lead set by US bond yields.

10 year 4.149% vs. 4.09 pre-CPI
March 12, 2024 at 2:55 pm #2882
Mtl JP
Participant
like = thumbs, stars etc = childish

why not instead add something constructive of trading value to a post’s theme that you “like” or do you really need an opp to express a personal emotion of approval – as if it matters to someone on the forum ?
March 12, 2024 at 2:52 pm #2881
Belgrade Knez
Participant
EU supports on my chart:
1.0903
1.0888
1.0855
March 12, 2024 at 2:49 pm #2880
Belgrade Bobby
Keymaster
EURUSD – 1.08900 might come as a handy Supp
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What is Risk Management in Trading – Forex Forum

For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.

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What is Risk Management in Trading?

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Not Setting a Trading Plan:

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Not Understanding Risk:

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Not Taking Advantage of Stop Losses:

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Over-Trading:

Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.

Not Diversifying Risk:

Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.

Why is Risk Management Important in Trading?

Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.

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Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.

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never increasing position size

never risking more than you are comfortable with, and always controlling potential risk-reward ratios.

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