General Chit-Chat

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bling bling

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my deposit to Oanda got rejected - due to an unverified Paypal account.

So to verify myself I have to let Paypal debit me $3 (they will refund) and then the transaction on my credit card statement will have a Number that I need to put into their website. But I only get credit card statements once a month.... so I've just set up online access to my credit card statements and apparently the transaction will appear in a few days. Whata a rigmarole.

So once again - getting money to an O'seas forex broker is not a completely simple process and thats the reason I originally moved to CMC.

[arco]

The last transfer I made was by wire.......very fast - money arrived in the a/c within 24hrs

[arco]

Forex lures Japan investors

By Michiyo Nakamoto in Tokyo
Published: 14/11/2007 | Last Updated: 14/11/2007 16:55 London Time

Japanese retail investors are pouring into the yen carry trade despite being battered by the recent sharp rise in the country's currency against the US dollar.
For many individual traders, the yen's surge against the dollar has been a rude awakening to the dangers of forex trading. Stories abound of housewives losing their lifetime savings within days as the yen value of highly leveraged dollar holdings plummeted.
But contrary to expectations, the currency market turmoil has not significantly dented the appetite of Mr and Mrs Watanabe to play the foreign exchange markets.
According to research by Yano Research Institute, the number of foreign exchange margin trading accounts almost doubled last year to 644,802 and is poised to grow another 62 per cent in the year to March, to 1.05m accounts.
Although the survey was published in June, long before the latest yen up-swing, Kazuhiro Shirakura, senior researcher at Yano, said: "The number of accounts has not been affected at all [by the yen's recent rise] and has continued to increase." This was because new forex traders usually began by buying foreign currencies and the strong yen made it a good environment to start trading, he said.
Even traders who had been hurt by the yen's rise had generally taken a long-term view and stayed in the market, said Junichi Katsuno in the financial markets division at Himawari Shoken, which specialises in foreign exchange trading.
"There are many people who take a long-term view and are waiting to buy [dollars]," he said. "There aren't that many people who expect the yen to strengthen that much more."
Retail investors were generally willing to participate in the yen carry trade as long as the yen did not rise above Y105 to the US dollar, Mr Katsuno said.
Individual traders are also becoming more sophisticated in their trading strategy.
Since the summer, instead of taking large positions in one currency, which can lead to huge losses, investors are taking smaller positions and trading frequently and flexibly to minimize any potential losses.
What is more, not all retail traders have lost out in the latest currency turmoil.
One 34-year old housewife who uses the online handle "Forex-loving Mama" to blog about her trading, said she had actually made profits by taking both short and long positions in the more than 20 currency pairs she tracked daily.
The woman, who declined to be identified, said she closed her positions each day before going to bed and was not phased by the latest currency moves that had left many retail investors nursing huge losses.
She also expects other retail traders to stay in the market. "Surprisingly, there aren't many people who say they will quit. I think it's because people remember how good it can be. It's like a gambling addiction," she said.
ΠΗΓΗ: FT.com
Copyright The Financial Times Ltd. All rights reserved.

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and now rappers

Rappers join models in insisting on Euros as greenbacks fall out of fashion

http://www.nzherald.co.nz/section/3/...ectid=10476931

http://www.nzherald.co.nz/category/s...ectid=10474430

Gisele Bundchen, the 27-year-old Brazilian who is the face of more than 20 brands worldwide and is reported to have a personal fortune of US$150 million, has said she wants to be paid in euros for fear that the US currency will continue to weaken

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Tokyo, November 20.

EUR/JPY and other JPY crosses have surged on the back of the stock market rally, based mostly on rumors of an emergency Fed meeting to mull a possible further cut in interest rates. A Financial Times article that the Fed may hold in store a surprise for investors looks to have been the catalyst for this talk. Rumors of an emergency Fed meeting were heard in late New York trading as well. Whether there is any foundation to this talk remains to be seen. What can be said is that the Nikkei has pared its earlier losses and then some, trading back above 15K and indicated currently at 15,052.80, up 10.24 points on the day. The index was as low as 14,751.27 today. EUR/JPY currently trades 161.39/44. Resistance topside is eyed at 161.78, the 200-day moving average. Some stops may be seen on a break above. Next resistance is eyed around 162.00.

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Started trading FXtrade last night with small long positions on Silver, Gold (closed now) AUD/USD and USD/SGD short

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Good Luck Peat.

Pleased to hear you are now trading the big 'O' for real.

arco

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In 2007 the FXStreet Trader of the Year contest again underlined the complexity of trading. Only a small percentage of traders could sustain profitability. Out of more than 50 contestants who entered, only 2 made positive returns (35% and 136%) by the end, 4 months later, September 30th 2007.

Colin, 2nd place with 35% percent over four months

Torsten 1st place with 136% percent over four months

[arco]

Charting is such a simple matter when you have dimension trader.............