Balls Of Steel - trading volatile pairs

That is looking very risky right now…

Risky indeed.

And the last one for good measure:

Position #4: Long at 2.0990

I decided to take one more position.
Position #5: Long at 2.0800

Thanks for your posts Yohec. Ive been working away so haven’t been on the forum, hoping to catch up this coming week :slight_smile:

As usual, the weekend here is…zombietown :stuck_out_tongue:

No problem. I took some positions on GBP/AUD but I’m currently underwater. Are you still in this trade?

Just trying to work off all of that Thanksgiving Day turkey I ate.

many plump returns!!!


I’m holding shorts on gbpnzd gbpaud and eurusd. Volatility is way down on levels a few months ago so I’m not adding any more for the time being.

Out of eurusd after price spike hit stop loss, made 50 pips.
Other pairs still sluggish

Long GbpNzd @ 2.26

[B]Yellen upbeat ahead of jobs report[/B]

Ahead of jobs report, Yellen says 100,000 would cover new entrants | Reuters

Federal Reserve Chair Janet Yellen, speaking the day before a key employment report, said on Thursday the U.S. economy needs to add fewer than 100,000 jobs a month to cover new entrants to the workforce, setting an implicit floor for the jobs growth policymakers want to see.

“To simply provide jobs for those who are newly entering the labor force probably requires under 100,000 jobs per month,” with anything above that helping “absorb” those who are unemployed, discouraged or had dropped out of the labor market, Yellen, who was speaking before Congress’ Joint Economic Committee, said in a question and answer session.

The November jobs report is scheduled for release at 0830 EST (1330 GMT) Friday, providing a last key bit of economic data for the Fed before a policy meeting on Dec 15-16 that may see the first U.S. interest rate increase in a decade.

Yellen, in a question on a separate issue, said the United States may be “close to the point at which we should be raising” a benchmark interest rate that has been held near zero since the onset of the financial crisis seven years ago. Though the pivotal policy meeting is less than two weeks away, she said that will still hinge on whether incoming information supports the Fed’s outlook.

Job creation has been averaging around 200,000 a month this year, a figure Yellen said was “quite a bit” above the number needed to continue absorbing slack in the labor market.
Related Coverage

› Yellen: Under 100,000 jobs a month enough to keep up with population trends
› Fed's Yellen says expects to see some upward pressure on wages

Though unemployment at 5 percent is at or near the level many policymakers consider to be full employment, Yellen said that high levels of discouraged workers, part-time employment and other job market measures show there is still room for progress.

Yellen in her testimony was generally upbeat, spelling out how the economy has largely met the criteria the Fed has set for its first rate hike. Unemployment is low, growth continues at a modest pace, and Yellen said she is confident inflation will return to the Fed’s target over time.

Though weak global growth remains a drag, she said the United States is far more dependent on domestic consumption and investment which, at least so far, is strong enough to produce growth that is slightly above trend.

“On balance that’s led and I think it will continue to lead to growth that is somewhat above trend and on a continuing path of labor market improvement,” Yellen said.

The Fed’s first rate hike, expected to be 25 basis points, will start what is expected to be a slow cycle of policy tightening that may see rates remain below normal for years to come.

Excellent, Eddie, thank you… This, potentially, means that the markets may discount an upbeat figure…

8:36 ET - The unemployment rate held steady at 5.0%. Other developments painted a positive picture: The number of Americans with jobs increased 244,000, while the number of those considered unemployed rose just 29,000. The jobless rate has fallen from 5.8% a year ago and from 10% in October 2009. A broader measure of unemployment–which includes people who aren’t looking for work and those stuck in part-time jobs–clicked up to 9.9% in November from 9.8% in October, but is down from 11.4% a year ago. ([email protected]; @JMitchellWSJ)

(END) Dow Jones Newswires

Looks good

We seem to be at critical points on 2 of our pairs. GbpNzd is struggling to break 2.27 (and further resistance awaits at 2.30), while GbpAud is stuck on 2.08 (with more waiting at 2.095).
Other than this, its been quiet lately with lower than average daily movements. Needs a bit of a kickstart to get it going again, here’s hoping!

Good morning Eddie! Yes, they are a bit stuck…

The Pound touched 1.49 and is now hovering above long-term support at 1.50: with both RBNZ and BoE rate decisions almost back to back today and tomorrow, it is not surprising that Pound and Kiwi pairs will hold their breath…

Let us hope for positive outcomes for you, Yohec, Baz, Zizzo (if he is still trading Kiwi pairs), and me!

Go Wheeler, go! Give us a nice bit of pip bounty!

Price fell back to SL’s while I was hanging Christmas lights!
Made 140 pips on GbpAud and 60 on GbpNzd, waiting for opportunities to re enter at lower prices

In again at 2.282 GbpNzd and 2.089 GbpAud

[B]RBNZ cut rates to 2.50%[/B]