/biz/ - Business & Finance

I like the forex duck.

>>485070
ok good job OP, however a little background on the reasoning behind your decision would be helpful otherwise this is just a

>put everything on black

kind of thing

>>485083

I already told you. Look at the chart. It was never going to get past that resistance line. Ever. It was the weakest its ever been and showing signs of fatigue, to say nothing of how fast it was fishing out the last few cents. I had been watching it get speculated to death for days. 1.10 was the obvious psychological point it wouldn't cross and when it slipped over, it sunk like a rock.

Presently, it's still working itself out. Its ranging too much to make any swing calls presently. What we do know is that with the USD getting stronger and the Euro about to be printed into shitpaper itself, the looney will remain weaker, but not that damn weak. We are talking about the Looney. It has had parity with the USD for ages and but for the 2008 Happening, was usually stronger. It was damn near 89 cents USD Friday. Anyone could see the resistance was solid and the trend was about to reverse.

>>485080

Ty

-qwakqwak

You realize Forex is rigged?

>>485094
hurrrrrrrrrr

Dear Forex duck, I know nothing about Forex, and am a pleb Australian investor. Give a man a duck tip and he eats for a day, teach a man to think like a duck.

I guess I'm missing something, but how can I make money off of Scotland becoming independent?

>>485148
and?...... AND?????? AND WHAT??????

WHAT HAPPENS WHEN YOU TEACH A MAN TO THINK LIKE A DUCK????/????

>>485150
I been wondering about this to. Should make a own thread

>>485153
DUCKLINESS IS NEXT TO GODLINESS, DENY NOT THIS WELL KNOWN TRUTH

>>485092
Take at my complex technical analysis right here, the level of resistance could have been higher than 1.1 , based on this alone, I don't what has changed between March 2014 and now, I am more interested in fundamental analysis and swing trades in regular companies but I realize a good understanding of forex is important

http://www.bbc.co.uk/news/business-29063348

the ECB has decided to devaluate the Euro, I take it the descent will be already priced in and it is a question of how fast it will descend

>>485070
>Forex duck
>duck beak looks like a happy doge
>dogecoin confirmed

I'm putting everything I own plus the money I get for donating blood into dogecoin.

>why don't you want to succeed, anon?

>>485206
What?!

>>485070
>Canadian Looney closed at 1.1087 USD
nope, youre doing it wrong...USDCAD means that 1USD=1.1011CAD atm...

>>485150
put a long and a short on a GBP pair with 100pip stop loss. wait for live referendum resits before killing off the unfavorable trade.

>>485161
>do it faggot.jpg
would help make my most favorite board slightly busier...

>>486120

Retail pleb here, no edge and therefore no position on GBP/USD/CAD, but your pic is truth. One of my problems is that the center screen of "what I do" has 4chan on it.

>>486120

I saw that after I posted. I meant PER USD.

I also confukt the profit calculation. The profit is:

50,000 USD sold for looneys getting 1.1087 CAD X 50,000 or 55,435 CAD which would be sold back for 1.0957 per USD, or 55,435 CAD / 1.0957 per USD = 50,593 USD

Since 5 mini-lots of USD were sold originally for looneys at 50:1 or $200 per min-lot, it would be $1000 USD to start. Then the profit looks like:

$ 50,593 USD - 50,000 USD = $ 593 USD profit on $1,000 position. (not counting 2 pip spread).

Still, $593 is pretty darn good. I tend to like a wide margin and go longer, and tend to get tangled on CAD because of the inverted quote. After I posted, I couldn't figure why the position wasn't adding up in conversions.

>>485192

Has a point, but there was nothing to suggest in the shorter term that there would be such a spike, and there still really isnt. I looked yours up cuz your typo in the graph threw me lol (1.27?!)

At present, I think its about to do it again since it rose again, but I can't call this one for certain til it settles some. The volatility this week is crazy. I don't think it will breach 1.12, but I am not comfortable yet calling it. Theres too much fog going on with everything; the ECB, Scotland, the Fed and nothing will settle for days now.

At the position cited, a body would need to be able to buffer up to 3 cent swings, or $ 1,500 on the cited position, and I wouldn't feel right yet encouraging someone starting to take that kind of risk on their margin unless they could afford it. It's just too shaky to call it easy money for a few days yet, the trend line is shit atm. Things will look better on Tuesday.

Keep your eyes peeled though. I too gotta dig into the CAD fundamentals to see why the Looney is astray. Even with the Fed, I can't figure it. I can't see why it's been off since February of last year just with technicals, and I don't know why its off, I cant predict when the overall uptrend is going to really turn.

>>485148
>>485163

Go to Babypips and watch tutorials at https://www.youtube.com/channel/UCd9kfH8fkmAdtIyune0ns2g

Go slow, relax, be patient and learn. It isn't really difficult, just learn the charts. Practice on a demo until you trade wins more often than losses, and pick a strategy that feels right, and dont get greedy or emotional. Other than that and the operative details, its like anything else, buy currencies low and sell high. Leverage will help you later if you dont abuse it. Keep a nice big fat margin so you can weather swings.

Aussies will be in a good position to buy soon because of the downward pressure coming out of China and their slowdown depressing the region. The Aussie is something else I am watching because it is in a strong, strong downtrend and the rebound will blow the doors off for people buying it when it moves back up. I am not comfortable saying it is at bottom yet because the AUD is normally erratic.

>>486438
>>485148

Here is a better targeted link, a playlist rather than the channel

https://www.youtube.com/watch?v=880UGOQyK40&list=PLBebzjhwyboHiZg3H14P04D_RFoARv8Sp

>>486402
>50000USD

Just talk in lot sizes dude...
1.0 = 100000 shares or ~10$ per pip
0.1 = 10000 shares or ~1$ per pip
0.01 = 1000 shares or ~0.1$ per pip
0..001 = 100 shares or ~0.01$ per pip (there are brokers that do trades this small)

>>485070

Is there margin and non-margin Forex trading, are there options, puts/calls, like on stocks?

Or can you just buy low sell high?

What does the forex duck think of EUR-USD?

>>486464

I was just trying to illustrate it.

>>486471


Yes, you dont have to trade with leverage. When you can afford not to, some consider it preferable not to use it at all. It has many types of order variants you can use.

>>486495

I am honestly the wrong person to ask about Euros. I personally wont go near it even for a day trade. I dont want to give a lecture on my views of it, and some of it is not financially related, nor do I want to be impolitic.

I am sure there are trades to make on it since it is one of the biggest trades if not thee biggest. But I dont touch it, follow it or go near it. Thats just me personally, an admitted quirk. I am sure someone here who FX's will be able to give ideas on EUR/USD. I am sorry I can't give any perspective for you.

The only view I could offer is to suggest just about any other pair. This would make a kook to most, but thats just how I feel. If you feel you would like to trade them and can do it well, more power to you and I wish you the best, but they are not for me.

FOR GODS SAKE BUY GBP!!!!


QWAAAAAAAAAAAAAAAAAAAK!!!

>>487200

>>487200

>implying they'll vote no
>implying you won't be fucked when the yes comes through

POLLS CLOSE IN TWO MINUTES @ SCOTLAND

OFFICIAL RESULTS RELEASED 6-7am GMT or 1-2am EDT US

>>487210

I want them to win yes. But unfortunately it isn't quite strong enough. Hopefully they will get another chance. RBS and Lloyds scared them I think by threatening to move out.

I honestly hope I'm wrong. But the money is on 'no'.

>>487215


BBC Live Stream

http://www.time4tv.com/2011/06/bbc-one.php

Result map will be updated

Its a squeaker

http://www.belfasttelegraph.co.uk/news/scotland-independence-vote/live-scotland-results-referendum-counts-from-32-councils-on-day-of-reckoning-for-yes-and-no-voters-30592042.html

London opens at 3am EDT US an hour after the announcement. Stuff your pockets with sterling now, wait till the announcement and watch it blow up.

http://www.forex.com/currency-pairs-public-charts.html?cp=GBPUSD

>>487228
>http://www.forex.com/currency-pairs-public-charts.html?cp=GBPUSD

Duck says short pound/dollar...
Nope.

>>487228
The current count is looking like Scotland will be staying in Union.

>>487532
Currently yes. But I've heard that some of the bigger cities are filled with more young people, and the young folk are very much in favor of independence.

If they get the yes, it's scary to think what will become of Western Europe. Scotland's economy is built largely around oil from the North Sea, and that is drying up fast...I think if they get the yes they are screwed.

>>487556
Yeah, but, the larger cities with younger people need to have a stronger Yes count than No. So even if Glasgow comes in as yes, it would have to be a big swing, not a close one. It's looking heavily in favor for No at the moment with the initial counts.

>>485150
FYI, it's going to be a No, so play to that. There's evidence if you need.

>>487571
That's what I'm saying. Bigger city=larger youth population, more yes votes. The bigger cities take longer for all votes to be counted, so they will probably be last to be tallied.

We shall see, I think the news said the results will be final Friday morning US EST.

>>487519
>>487200

>shot

pic related.

AT present, it's already up over 100 pips from when I said buy at 1.64 USD. I am waiting till the official announcement and the London opening to come back and rub it in. I come to give facts, not pick horses. I was trying to give you silly geese easy sure money.

I'm 3 for 3 since last Friday. Ignore the duck, you'll be f*kt. Heed the quack, and grow your stack

-qwakqwak

I'll be back in a few hours to herald yet another overnight fortune /biz/ missed out on because they ignored the Duck. This one was so easy to call I can't even take credit. It was predictable, scheduled and basically a global billboard reading "Come get money".

Some day you featherheads will learn ducks like bread, because where there's bread, there's dough.

Now if you'll excuse me, I am getting my bill plated in 24 qwak gold.

qwakqwak

>>487519
>>487200

>short

pic related.

AT present, it's already up over 100 pips from when I said buy at 1.64 USD. I am waiting till the official announcement and the London opening to come back and rub it in. I come to give facts, not pick horses. I was trying to give you silly geese easy sure money.

I'm 3 for 3 since last Friday. Ignore the duck, you'll be f*kt. Heed the quack, and grow your stack

-qwakqwak

I'll be back in a few hours to herald yet another overnight fortune /biz/ missed out on because they ignored the Duck. This one was so easy to call I can't even take credit. It was predictable, scheduled and basically a global billboard reading "Come get money".

Some day you featherheads will learn ducks like bread, because where there's bread, there's dough.

Now if you'll excuse me, I am getting my bill plated in 24 qwak gold.

qwakqwak

>>487621
I bet you think $5000 is a lot of money.

>>487626

I do.

You can put your bling away, It doesn't interest me. I like to make money, not compare check books. Save it for your shorty in da hood. Maybe it impresses them.

>>487631
Lol, what?....Bling?

Sounds like you've smoked to many marijuana cigarettes sport.

>>487626

I do.

You can put your internet bling away, It doesn't interest me. I like to make money, not compare check books. Save it for your shorty in da hood. Maybe it impresses them.

-qwakqwak

>>487635

Sounds like you you'll be crying over your Jameson and weeping Flowers of Scotland. Sorry you put your money on your politics and not the numbers.

Or maybe your just a sad troll who wont admit you were wrong.

First you get the money. Then you get the power. Then you get the bread crumbs.

>>487621
>24 qwak gold

Top lel, that's unbeleaglebly funny

>>487641

how i become duck?

>>487641
>These faggots who think $5000 is impressive, when all they can do with it is waste it on stupid shit and not turn those seeds into a farm

These phaggots need to fly in a school I swear, they are just carrion dead weight.

>>487642

:)

>>487650
A duck is fine and all, but to make real scratch you need to prey on these featherless clucks.

If you want a greater nest egg, I suggest you don't give a hoot about lesser avians and their fowl advice; after all, the early bird catches the worm, and only a duck would choose crumbs over a juicy worm!

So the next time you're thinking of robin a bank, remember, follow the trends and prey on the market ducks!

Squark Squark!

>>487657

I see money as a tool, game pieces really. Theres nothing wrong with buying things you like, I suppose, but I am not one for materialism. I wasted a lot of my youth on that nonsense.

It's not about what you have or got, to me. It's about the chase. Thats why I like FX.

$5k is a lot when you leverage. There will always be somebody richer, so I am never impressed with people who say XYZ is not a lot of money. Whatever one thinks IS a lot of money, somebody else pisses away at the casino, and I dont see the point in comparing bling, which is all it is. Its callow and has nothing to do with the game. Not mine, anyways.

Im sure it goes over big at the hiphop awards though.

>>487666

lol well played

But the trend is exactly what I am doing. I dont like risk or uncertain things. I bank on news and trends. This was an easy catch. I wish more had seen it.

>>487641
What the Fuck are you talking about? Honest question are you autistic? You don't seem to do well in social conversations and are obsessed with ducks for some reason...

Like this....
>who wont admit you were wrong.
What was I wrong about? You make no sense kiddo.

>>487697

Well lets see. First you come in crying about Scotland and contribute fuckall. Then you grouse about %k apropos of nothing. Then you go on to bitch about nothing at all.

You're here to bitch, and then bitch some more about being called on it. And you were wrong about thinking Scotland had any chance at all. While it is sad for the Scots who I support, you can suck cloaca for all I care.

There is no social conversation. You are just being a /b/ tier shitposter and are apparently lonely for replies. You are just posting garbage, derailing and contributed nothing. And now you're just a trite 4chan distraction.

To wit, get the qwak out. Heres another duck pic for you to baw about.

On to biz..

It looks like 1.65 is the focus point on the GBP. It's been consolidating there for a while now. I am betting that the No vote is perceived as fact and is already priced in. Thus the official declaration is rather meaningless since the vote margin for No is heavier than expected. The last council areas are reporting in and the conclusion is what is being traded on.

Barring any odd event in the next 12 hours, I expect the price to rise moderately after 3am EDT US. It may go higher for trades midday then clamor for stability and short since Friday evening is coming. Any new substantial change of the magnitude seen in the last 48 hours will probably stall until Monday afternoon. I will have to see if there is any more nonsense scheduled in the US next week.

-qwakqak

THANK YOU BASED DUCK

1# /BIZ/RAELI

please stick around and post moar

>>485070
can you please elaborate what resistance you were seeing on the looney on that friday? according to my charts it had gone higher on a number of occasion prior, i see no clear resistance, im looking on the daily.

what charts are you looking at? a pic with your resistance/support lines plotted out would be helpful.

>>487717
It's not healthy to live life this mad over nothing.

Just post the link to your get rich quick e-book and gtfo.

>>487717
look, first step towards recovery is admitting you are autistic. just be true with yourself and I hope you get the help you need.

>>485070

>>487666
This was the best post I've ever seen on /biz/ even before I checked em

>>485070
>>487761

well looks like my USDCAD worked out today. went 84pips in profit, ofcourse not TP'ing just yet, i fell it'll do more, stop loss already at BE + a bit.

Thats 4 wins and 2 losses for me this week, account grew by 7% this week. Zero fundamental analysis apart from avoiding news events altogether. All in the price for me.

What did you faggots get upto? where are you Forex Duck? exprain youreself plox.

Here is the 10x-12x you left spanking your Loonie. What do you have with the loonie 1.08-1.16? what about CADCHF?