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Trading the Brexit, anyone?

Discussion in 'Forex and Cryptocurrencies' started by cogs, Jun 7, 2016.

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  1. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    The markets have certainly caught a bid, there must be an expectation of more accomodative monetary policy....more accomodative than what? That's the question....
     
  2. CanOz

    CanOz Home runs feel good, but base hits pay bills!

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    Well its close to the end of the day and the month. At the highs today the SPI was jusy 90 odd points from the high before the Brexit. How many think there might be some squaring of the books before month end??

    Maybe just take some off the table and call it a reasonable loss.....:cool:
     
  3. notting

    notting

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    The speech from the Euro dude today is totally the wrong signal.
    He is saying 'there is no negotiating until GB lodges Article 50 (the exit contract).'
    The last thing we need is for the Euro Bureaucrats to be pig headed about it.
    It's obviously a threat to it's other members but it's stupid because it's just going to create chaos again!
    The only good thing about it would be if it helps GB change it's mind!!!
     
  4. Toyota Lexcen

    Toyota Lexcen

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    why don't they lodge it? they want out so put the paperwork in
     
  5. Gringotts Bank

    Gringotts Bank

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    DAX 9625, looking for a few red bars on the 5 min now, before a long set up.
    Order at 9605 hoping for a fill.
     
  6. Gringotts Bank

    Gringotts Bank

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    **** this is boring!

    Waiting for close above 9618 on 5 min to go long.
     
  7. Gringotts Bank

    Gringotts Bank

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    I'm actually not enjoying this at all. :cry: All the waiting + trading micro lots (tiny reward for effort).

    Anyway, target 9636.
     
  8. cynic

    cynic

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    Some nights are like that. Monday and tuesday last week were the slowest I'd seen in a while.
     
  9. Gringotts Bank

    Gringotts Bank

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    I'm just not suited to it. Almost at my stop.... after all that work!
     
  10. cynic

    cynic

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    If one is trading microlots then one is trading OTC derivatives.

    In my experience OTC combined with stop orders seldom ends well.
     
  11. Modest

    Modest $PEPE

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    9572 looks like a nice place to play a pop up to 9607
     
  12. Gringotts Bank

    Gringotts Bank

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    Yes thanks I know that can happen. I was doing the stop manually, so IG couldn't see it.

    I figured it out though. It's the fact that the price is constantly moving. With a stock system, I have so much more time to make decisions and can happily leave the screen for hours at a time. With discretion and futcfds, you really can't rest. It's full on concentration for hours on end.

    So I feel stressed losing a few hundred $ on a cfdfut trade, but won't be fussed when my stock systems are down 5-10k. Either I have to systematize my cfdfut trading or zoom out my time frame.

    I guess this is what people mean by finding a style of trading which suits you. It has to be fun.
     
  13. notting

    notting

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    Best analysis I have heard yet on BREXIT by Patrick Chovanec, -

     
  14. cogs

    cogs

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    And the mayor doesn't want the front seat anyway! Or so I heard.

    Well all the dust has settled and markets are back to pre.

    Interesting the push up in silver, and to add the flags (with no movement yet) for gold pairs. Silver is hitting monthly resistance, but I thought these gold flags would have faded by now, there must be some more trouble brewing, not meaning to state the obvious.

    Silver.png

    The usual London open (throw mud and see if it sticks) push up just hasn't been able to close the gap, man it's bearish. So in my wisdom (or not), I can see this next GBPUSD move down coinciding with the gold flags playing out.

    What will be the catalyst for the jump, or will it simply take a slight breeze to push it over the cliff to 1.30 and below?

    GBPUSD.png
     
  15. notting

    notting

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    Ha Ha.

    And deservedly so. Karma ripens -

    Brexicuted Boris.JPG
     
  16. notting

    notting

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  17. pixel

    pixel DIY Trader

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    Some of the causes that riled the British Establishment, so they pushed for Brexit rather than adapting to changing conditions. Note: this list comes from an email that is currently making the rounds. Logic tells me that it originated in Britain, compiled by Brexiters; therefore, I won't guarantee the veracity of each detail.
    I can understand why some Poms are up in arms about the whole globalisation thing.
    But are YOU still a pom?
    As an Australian, I can't give two hoots about who owns what in Britain.


    Many of the old UK companies were basket cases, in dire need of fresh ideas and capital. By joining the Common Market, the Brits hoped to find easier access to capital and to customers. If they had been as clever as they claimed to be, they could have influenced the EU Constitution to follow more sensible principles than what it actually turned out to be: An unwieldy top layer of red tape and bureaucracy that benefits paper shufflers and incompetent idealists. IMHO though, it's no use to act the frustrated kid, taking bat and ball and walk out in a huff. If you want to change matters in a Club where you're a paying member, you negotiate with your team members and find a sensible compromise that suits and benefits all members.

    The biggest problem is, after WW2, the Brits were more interested in maintaining the facade of former glory, rather than reforming their education system to keep up with continental Europe and, later, emerging Asian countries. While the losers rolled up their sleeves and rebuilt, the Brits heaved a sigh of relief that they'd won ... and rested on their laurels. Even today, many seem to resent the loss of the Empire, only reluctantly acceding to changing it to a Commonwealth - yet still, the "Wealth" is far from evenly spread between Lords and "Common"ers.

    As has been said as early as the 1920's: Britain may have won the War, but they lost the Peace. Apart from Germany and Japan, the real winners were the US, for a few decades also Russia, and more recently China.
     
  18. notting

    notting

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    Europe has never had a better period than what it has enjoyed since the second world war. Problem is that people just focus on the petty things and forget about the massive benefits of Euro.

    What has been interesting about this is how the independent pound has assisted GB. They have done better than the rest of the basket because it was allowed to depreciate in tune with changing local circumstances.

    Maybe they should just all bring back their own currencies and keep all the other stuff. Who uses cash these days any way?! When people use cash they can pay with any of the currencies, the bank can sort out the difference with no charge for the transfer back to local currency when in the accounts.:2twocents
     
  19. pixel

    pixel DIY Trader

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    I agree, Notting.
    When they introduced the Euro. it ran parallel to all local currencies for several years:
    Making it the only currency in most member states on the Continent, without a common Fiscal and Taxation Policy meant putting the cart before the horse. One size currency simply does NOT fit all across as socio-economically diverse countries as Germany and Greece, to name just two extremes.
    Even the US spilled much blood in the 1860's to remain united; their Union only survived because the same laws govern taxation, retirement, and commerce across the land. The wealthier States also contribute a greater share to the Union overall, but unlike Euroland, they don't pay it as bailout loans that they expect to receive back with interest.
     
  20. skc

    skc Goldmember

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    This looks slightly worrying...

    https://www.theguardian.com/busines...ing-in-its-property-fund-brexit-standard-life

    Watch out LLC and WFD!!
     
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