[GVI Forex]

Just in case post

Above EURUSD 1.0750

1.0763-65
1.0780
1.0798-00

[GVI Forex]

ECB press conference

[GVI Forex]

No surprise in ECB decision

US PPI next – mkt highly sensitive to any surprises

Then LaGarde

[Mtl JP]

well… Jay in his 10:28 talks about a personal predatory tactic of using what he perceives market achillies heel for skimming some $s

worth a re-read, let it sink in

[Belgrade Bobby]

Mtl – Right on spot !

Using different systems that I have developed over decades of real trading, I have tried of course to come to some automated one…never did.

Even with the simplest one, it was always that last touch – HUMAN – Professional touch.

All the algorithms that one can come with are missing quite a lot – you cannot calculate in, the last moment change of heart that comes from the experience ( some call it a Gut feeling, I call it knowledge hidden deep in subconscious of our mind ).

And even if AI scam will come alive one day , it will be as good as those that programmed it – if those programmers can be as good as we are in trading ( yeah, right ), I am not sure that they would spend life coding it…but trading…

So far, what I heard within the industry is that the best they came up is around 60% of success ….not bad if the Risk management would follow the suit…but it doesn’t….they still play it more like betting , then real trading.

[GVI Forex]

JP my developer told me he has programmed over 1000 automated trading programs and the only ones that had some success were those with some human intervention.

[GVI Forex]

A look at the day ahead in U.S. and global markets from Mike Dolan

It may seem like an over-reaction to an inflation miss of less than a tenth of a percentage point, but the heated March consumer price update has jolted markets into doubting any U.S. interest rate cut before the November election.

Morning Bid: Markets reel on Fed cut doubts, ECB up next

[Mtl JP]

automated programs
one example:
–
Knight Capital’s Algorithmic Fiasco
— Knight’s program ran out of control for about 45 minutes — which means the company ultimately lost $10 million for each minute the new software was running, cost the firm $440 million.

ya think it can’t / won’t happen again ?
rest assured there are folks hard at work making sure it does
(and they are part of nightmares to banking supervisors)

[GVI Forex]

USDX WEEKLY CHART – LOOKING FOR EURUSD CONFIRMATION

USDX is in breakout mode above 105.03 but looking for confirmation from a EURUSD break of 1.0692 (scroll down to see a EURUSD weekly chart)

The reason I say look for confirmation is explained in this blog article

What is the U.S. Dollar Index (USDX) and How You Can Use it to Trade

[Mtl JP]

automated programs
–
automated programs are
– lines of code
— subject to design AND coding errors and / or inefficiencies AND intellectual attack by other coding trader(s) / flush groups.
— still supervised by humans, still subject to nervousness, high excitablity; acute unease or apprehension because they still function under stress eminating from visuals of loss ranging from small to account evaporation dancing in their heads

[GVI Forex]

The next key event risk is the ECB decision in less than 3 hours. See this link in our blog for a detailed preview of the event.

ECB MEETING PREVIEW

[GVI Forex]

FOR THOSE WHO MISSED MY BLOG ARTICLE, THE POWER OF THE “50” LEVEL, I SUGGEST LOOKING AT A EURUSD CHART (HIGH TODAY 1.07497) AND READING THIS ARTICLE

In the world of electronic forex trading where an increasing volume is generated by automated programs, it is amazing that psychological or emotional levels still have a significant impact. It may be that my mind acts as an algo but whatever the case there are pivotal forex trading levels that I use that are as relevant today as they were when I first started trading. One of these is the “50”level…..

THE POWER OF THE “50” LEVEL

[SF Monedge]

My collegues tend to be week early

[SF Monedge]

stil her Bobby lol

[Mtl JP]

bump
3rd in a row
–
is anyone here laughing at FED’s 2% quest ?

Is the market laughing at the FED’s 2% inflation quest ?

[Mtl JP]

some still harping the fed int rate cut theme
–
“(Bloomberg) — Economists at Goldman Sachs Group Inc. are forecasting two Federal Reserve interest-rate cuts this year instead of three…”

[Mtl JP]

chuckle time
–
NYT
“Inflation Was Quicker Than Expected in March, Unwelcome News for the Fed

The surprisingly stubborn reading raised doubts about when — and even whether — the Federal Reserve will start cutting interest rates this year.”

[GVI Forex]

USDJPY DAILY CHART – Who’s afraid of the BoJ?

With the 151.97 line in the sand shattered, USDJPY is trading, not close to record but in unchartered waters. This leaves Japanese monetary authorities with nothing but verbal warnings for if they choose to intervene, there would be more than ample buyers lying in wait at lower levels.

This leaves the market wondering where the next line in the sand is. The obvious level is 155 but ahead of that is 153.50, midpoint of 152-155. On the downside, only back below 151.97-00 would slow the risk.

[GVI Forex]

Poor US 10 year auction – yield spikes to 4.56%

[GVI Forex]

Also there is a 10-year auction today. Last 4.517%

[Author]

Posts