Who Are Wall Street Rock Stars?
Actively trading the markets is extremely stressful and oftentimes, traders–even those with years of experience–make irrational decisions as a result of this stress. Wall Street Rock Stars are on the top of their game though, banking mad profits every day. On WallStreetRockStar.com you will find REAL information and real trading ideas for and from REAL Wall Street Rock Stars. - Mark Whistler
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Forex and Stock Market News via WallStreetRockStar.com
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Buy and Hold a Flawed Strategy | | THE FINAL NUMBERS - LATE DAY RALLY
NEWS: A late-day rally helped the indices close near their highs of the day. The Dow finished with a gain of 277 points or 3. | | 12/2/2008 5:48:16 PM |
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Could the RMB Fall? | | Since China revalued the Yuan in July 2005, it was considered a foregone conclusion that the currency would continue appreciating at a steady clip. The global credit crisis, generally, and the Chinese economic downturn, specifically, has turned that assumption on its head. Last week, the RMB declined by the biggest margin since the revaluation, prompting speculation that China will adopt a currency policy diametrically opposed to that which it has pursued over the last few years. The move also coincided with the annual China-US trade summit, attended by none other than Treasury Secretary Henry Paulson. The new consensus among currency traders (proxied by futures contracts) is that the Yuan will depreciate slightly over the next two years, as China moves to provide a boost to its export sector. Given that the currencies of most of China's Asian neighbors have fallen by double digits over the last year, the Yuan may have to fall sharply in order to maintain competitiveness. The Wall Street Journal reports:the Chinese currency hasn't experienced a large devaluation in at least a decade. Such a move would go against the realities of geopolitics and against signals that Beijing is more focused on boosting domestic consumption than on stimulating exports.Read More: Will China Finally Try Wielding Its Yuan? | | 12/2/2008 8:51:00 AM |
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New Treasury Secretary Understands Currencies | | What does the appointment of New York Federal Reserve President Timothy Geithner as Treasury Secretary mean to forex traders? To answer this question, it depends on which side of the Dollar you fall in. Geithner worked in the Treasury Department under Bill Clinton, which means he is well versed in the Strong Dollar policy. It is not clear whether such a policy will be implemented under the Obama administration, which may be counting on the export sector to fill the gap created by a decline in domestic consumption. Regardless, the consensus among analysts is that Geithner understands currency markets, and is not likely to take steps that will rattle them. This would mark a sharp break from his predecessor Henry Paulson, whose bungling of the economic bailout has given rise to record levels of volatility (read: uncertainty) in forex and financial markets. The Australian reports:"For all the currency traders out there, this means he was in charge of US dollar policy and is steeped in the nuance of the currency markets...Unlike during rookies Paul O'Neill or John Snow's tenure, we won't get many mistakes to make easy money," said [one analyst].Read More: 'Safe pair of hands' Timothy Geithner tipped for US Treasury | | 12/1/2008 10:17:13 PM |
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GBP/JPY Weekly Analysis (Wk Strt Nov/09/08) | |
What a great week we had last week. We had three trades and all three were winners making a total of about 150 pips. This week is looking great too. We have four scalp line trades and a possible S+R line trade. | | 11/9/2008 2:31:12 PM |
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249 PIPs for the Week of October 19th, 2008 - Forex Force on WallStreetRockStar.com |
Early this morning, we hit our profit target, your trade should be closed...
Congratulations! You should have locked in around 130 PIPs!
We had a great week, clearing over 200 PIPs overall...
We're going to sit flat for now, please expect a long update over the weekend!
By the way, there's a chance that I could be offline later next week, when I travel to China to speak at the Global Chinese Financial Forum. If you happen to be in China next week, please stop by and see me!
Mark
| | 10/26/2008 7:56:00 PM |
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