Download link: ODL-MT4 Demo.zip

Do you know of a site/link that explains the correlation
of currencies with Market Indexes/Bonds/Notes?

Thank You


.

Hi everyone.

I am trying to come to terms with why the correlation between the USD and Crude oil seems to be observable only during the high volume periods and not after that. i.e. between 12.00pm and 5.00pm UK time (about 8.00am to 12.00pm New York time). During this period the US dollar seems to go down while oil goes up but in the wee hours of the day ushering in the Asia session, the USD seems to go in thesame direction as crude oil. This makes it a little strange and locks working class people from ever participating in the market. Please can someone comment on the fact that this dilemma is real or not? Thanks

1. You can find good articles on correlation at the Investopedia website. Alot of the articles have been written by DailyFX Analysts:

Investopedia - Forex Articles

2. As for the correlation between the US dollar and oil, it has been the strongest these days during the US trading session because that is when there are the largest number of people trading oil and the US dollar. During the Asian trading session, oil tends to be very quiet whereas the dollar could fluctuate based upon equities, or economic data from other parts of the world.


~ Kathy and Boris

testtesttest

Hi,

It's very hard to determine the time of the Signals on Daily FX. See an example below I got from the GBP/USD Signal page. It says Open 29/07/08, 23:10. Not sure its GMT or EST? Also, what is Open and Time telling us? Is it saying that this position has already opened at this time, or anticipated to open at this time?

Then at the end of the commentary, it says (ams) 4:34 GMT. Again not sure, on the 29th or the 30th?

I am afraid I am looking at stale signals. Can someone clarify how to tell when this signal was issued, since it seems the commentary and the Signal are independent of each other.

GBP/USD
GBP/USD TRADING PAGE
SPOT TECHNICAL SIGNIFICANCE RECOMMENDATION POSITION
2.0030(M) Daily High Jul 23 Sell A Failure SHORT at 1.9800

open 29/07/08
time 23:10
target 1.9650
stop 1.9850

1.9840 stalled attempts higher and protected the short trade overnight... ...overbought. (ams) 04:34 GMT
end

Best of luck to both Kathy Lien and Boris Schlossberg (did I spell his last name right? ) for going to a new firm.

We miss you here in FXCM and DailyFX. Please come and join as guests periodically.

my quetion is the , the world economy is pessimistic it's difficult time for exporter. when do you think the world economy can became better ?

Hey all Forexer's,


Been listening to basically all of the Webinars and learning. I was listening to Tim Sheas webinar on the dailyfxplus webinar. I have attached a Technical chart at the bottom.

My questions are, is the 155.85 the point i set the entry order...

Do i set the stops at 1.552 or 1.545.....

Also would you put a trailing stop when trading the analytic posts that come out 3 or 4 times a day?,....

and finally, lol, has schollsberg left fxcm?..

happy trading...sorry for the newb questions...

Jimmy(pippeepin)

Attached Images

 

Hello JForex,

The signals in DailyFX+ are GMT unless otherwise stated.

As for the commentary and signal itself ('Position'), those are usually tied to each other, so the day is the same as is stated in the Position section.

-John

Hello Jimmy,

Typically when an analyst or trader says they are long or short against a certain level, that is usually their entry point (though sometimes that jargon is used to denote a stop level.

The 1.552 and 1.545 levels are targets, so that is where you should set your profit taking limits. This should make since since the trade is short and these levels are below the entry level.

As for whether you should use trailing stops, that is totally up to you. Try to develop a money management, position management and entry/exit system that works best for you. It is fine to use the analyzer and other tools as learning platform, but successful traders develop their own systems that work best with their own personalities.

-John

That is a very big question and has so many variables and potential outcomes that is hard to forecast such an outlook with any real accuracy; however I can give you a few things to think about.

The difficulty with the world economy (and especially exporters) now is that raw material costs are still pushing extraordinary levels. If you are referring to exporters of raw materials, they may actually derive a benefit from high prices. However, there is a point where the negative impact on the local economy outweighs the income from exports. If you are talking about an exporter like Japan who has to import all the raw materials and turn them into finished goods, they are suffering the most because they still need to be competitive in a time when everyone is struggling to chase fewer dollars, euros, etc. in the system.

IMO, the world economy will begin to genuinely improve when commodity prices fall to reasonable levels, global inflation cools to between 2-3 percent on the consumer level, and the US shows a rebound in growth (as it is the largest economy, the largest consumer and the lead wealth builder across the globe).

What do you think millyzhang?

Thanks for the reply, That gives me a better understanding.

One more question and Ill be off to learn to trade better...

As far as the buy and sell signals on Dailyfxplus, the time zones on the right side of the image from the buy and sell prices, are they in GMT time or what time frame, Also the time periods at the bottom of the marketplace chart software on the trading platform, are then in gmt or est..Just did alittle research to see if the projections on the buy and sell signals were accurate. Can seem to match up the time on the buy and sell signals times to the marketplace times on the software on the trading platform.


thanks and happy trading

Jimmy (Pippeepin)

The eur/usd ran back up to 1.5620 after 1.5580 level held only to return below the 1.5570 , if the 1.5570 level doesn't hold the triangular pattern to 1.5500 my be in play . So my trade is to short the eur/usd @ 1.5570 to 1.5580 area with stop @ 1.5613 what due you think? Also 1 hr nzd/usd are very much looking the same. Thank You Jucer

Hello Jucer,
Seems like your trade is in the money at this point, and looks like the EUR/USD is moving in your favor. I would like to point out that setting up profit targets (limits) is equally as important as setting up stops and trailing stops when developing your trading strategy. As for the NZD/USD, the pair seems to be falling quite a bit for now, but I would advise looking at daily or weekly charts to get a better picture of the overall price pattern. Often looking at intraday charts can distort the underlying pattern for the currency pair, and includes many distortions which may cause an investor to trade in the wrong direction. Hope this helps.