Forex Help Forum Archive for 01/22/2008

dxb sta 20:24 GMT January 22, 2008
Subject: Reply   
I just switched to Mac instead of PC. I used to work on meta trader from my charts which is not working on MAC OS. Can anyone help with similar charting software compatible with Mac OS 10.5.1.
Thanks

quito_ecuador_valdez 17:25 GMT January 22, 2008
Subject: general info about this week Reply   
Remember it wasn't absolute fact that about coordinated CB rate cuts such as BOE & ECB today. It was "said" or what some call rumors & that wasn't made as clear as it should have been in posts today. Sometimes if we hear things many times we think they're "true". Canada did what it was expected to do. Street said a 50 bp Fed cut but Fed suprised us w/ 75 not 50 but that wasn't much difference that the mkt saw from 50, it's stable at this point waiting for data + BOE & ECB if anything. I'd be more interested in what BOE does & they're not certain themselves even of need to cut rates actually. So I'm not expecting a huge cut from BOE although domestic housing issues have infected UK as well. So the news from BOE goes. That's not rumor, that's what they're saying at BOE.

Don't forget about the Swiss. If SNB cuts & I suspect they can, then that also supports USD. I've tried today to get my feed for UBS strategy memos & my service is down.

ECB, ya never know, they're eyeing a slack econ & a devaluating USD so they're motivated to cut but they have to look at inflation to analyse if cutting rate would add to inflation to make matters yet worse. If ECB feels it's not necessary to cut, they won't just follow along with the Fed just to please everyone gambling on them to do so. Lots of variables enter into this & as we've seen CBs do make errors, leaving logical thinkers clueless.

I hear from USA they want to maintain a strong dollar..OK when, 2050?

FX isn't done on 100% logic or we'd all be FX tycoons, it's done on instinct, control, having a number of trading plans WRITTEN DOWN, one for each scenario you can think of, (if A happens then I do X, B happens & I do Y etc.) & ability to analyse be it technical or not & some luck of course. IF YOU HAVE NO PLAN DEVISED, DO NOT TRADE. A good trader gains many times by risk/money control than placing proper positions. A long time trader told me once that he was "right" about 47% of the time. To me at first that sounded impossibly weird but it's various controls he excercises that got him rich at FX, not guessing correctly. You can flip a coin to get 50% right. It's what you do using control after that which counts.

Finally if you use too short of term charts you can't see the big picture, the general direction so you fall short of a possie's potential or wipe out on too close of a stop. Try using different time frame charts all at once on several screens (2 or more) to quell your urge to act too quickly. If you fail at scalping try longer term such as day or swing. Or more.

Beijing hoho 08:40 GMT January 22, 2008
Subject: Reply   
HK Revdax,

My broker-A.C.M is also disabled!! Luckily mine is just a mini account.