|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type>
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=2>DENVER, CO, USA - GALACTIC DAILY FX UPDATE -
10/27/98</FONT></DIV>
<DIV><FONT color=#000000 size=2>
<HR>
SUMMARY<BR>The dollar slipped vs. DEM on speculation that Germany would not
follow suit<BR>after yesterday's interest rate cut by Italy. Rumors surrounding
the<BR>deterioration of President Yeltsin's health persist as Prime
Minister<BR>Primakov heads to Austria to attend the EU conference in his
absence. The<BR>dollar gained vs. JPY in thin trading as the
Japanese economy exhibited<BR>continued signs of weakness after the September
unemployment rate was<BR>reported to remain at 4.3 %, the highest level on
record.<BR><BR>EUROPE<BR>The dollar lost ground on the mark after a sharp
increase yesterday<BR>following Italy's cut in interest rates.
Speculation that Germany would<BR>follow suit has eased, putting pressure on the
dollar. Analysts expect<BR>further moves as short-term rates in the
countries participating in the EMU<BR>must converge by January. GBP
fell for a fifth straight day on renewed<BR>speculation of a rate cut by
the BOE. The CBI reported that industry<BR>confidence has suffered
its worst decline since 1980 which analyst point to<BR>as evidence that lower
interest rates are needed. In Norway, the Prime<BR>Minister stated
that the government would not use taxation on fx-trading as<BR>a means to stop
speculation against the NOK.<BR><BR>ASIA<BR>September unemployment in Japan
remained at an all time high of 4.3%,<BR>affirming the downward economic
trend. The jobless rate has risen 14 of<BR>the last 15 months in
Japan. Finance Minister Miyazawa said the government<BR>will release
its latest stimulus package November 16th. However,
traders<BR>remain skeptical that the extra measures will be enough to turn the
economy<BR>around. Korea also weakened on the back of
the yen amid fears of a rate<BR>hike.<BR><BR>NORTH AMERICA<BR>US consumer
confidence fell 9 points in October as the Conference Board<BR>reported that
consumer expectations have deteriorated to a level associated<BR>with sluggish
economic growth. The report indicates concern about
both<BR>current and future economic growth. After reaching a 1 week
high<BR>yesterday, CAD was sluggish as commodity prices began to
sag.<BR></FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Respectfully,</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Richard Chehovin</FONT></DIV>
<DIV><FONT size=2>President</FONT></DIV>
<DIV><FONT size=2>Chief Currency Trader</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Oct 27 20:06:54 1998
Received: from list.listserver.com (198.68.191.15)
by mail02.rapidsite.net (RS ver 0.3) with SMTP id 16155
for <neal@xxxxxxxxxxxxx>; Tue, 27 Oct 1998 22:40:28 -0400 (EST)
Received: from localhost (localhost [127.0.0.1])
by accessone.com (8.8.5/8.8.5/PIH) with SMTP id TAA26090;
Tue, 27 Oct 1998 19:35:44 -0800 (PST)
Received: from mtiwmhc01.worldnet.att.net (mtiwmhc01.worldnet.att.net [204.127.131.36])
by accessone.com (8.8.5/8.8.5/PIH) with ESMTP id TAA25966
for <RealTraders@xxxxxxxxxxxxxx>; Tue, 27 Oct 1998 19:32:58 -0800 (PST)
Received: from galactic ([12.74.72.193]) by mtiwmhc01.worldnet.att.net
(InterMail v03.02.03 118 118 102) with SMTP
id <19981028033101.HSOQ3377@xxxxxxxx>;
Wed, 28 Oct 1998 03:31:01 +0000
Message-Id: <000401be0223$6a332440$c1484a0c@xxxxxxxx>
Date: Tue, 27 Oct 1998 20:07:51 -0700
Reply-To: "Richard Chehovin" <GalacticFXInternational@xxxxxxxxxxxxxxxx>
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: "Richard Chehovin" <GalacticFXInternational@xxxxxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Forex
MIME-Version: 1.0
Content-Type: multipart/alternative;
boundary="----=_NextPart_000_0004_01BE01E5.79D39300"
X-To: "Sonic" <SonicBomm@xxxxxxx>, "Al Witko" <awitko@xxxxxxxx>,
"Chip Starick" <hstar@xxxxxxxxxxxxx>,
X-Priority: 3
X-MSMail-Priority: Normal
X-Mailer: Microsoft Outlook Express 4.72.3155.0
X-MimeOLE: Produced By Microsoft MimeOLE V4.72.3155.0
X-Listprocessor-Version: 8.1 -- ListProcessor(tm) by CREN
X-Loop-Detect: 1
X-UIDL: 643298ba494d295512fe071c50c21aae
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type>
<META content='"MSHTML 4.72.3110.7"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=2>DENVER, CO, USA - GALACTIC DAILY FX UPDATE -
10/27/98</FONT></DIV>
<DIV><FONT color=#000000 size=2>
<HR>
SUMMARY<BR>The dollar slipped vs. DEM on speculation that Germany would not
follow suit<BR>after yesterday's interest rate cut by Italy. Rumors surrounding
the<BR>deterioration of President Yeltsin's health persist as Prime
Minister<BR>Primakov heads to Austria to attend the EU conference in his
absence. The<BR>dollar gained vs. JPY in thin trading as the
Japanese economy exhibited<BR>continued signs of weakness after the September
unemployment rate was<BR>reported to remain at 4.3 %, the highest level on
record.<BR><BR>EUROPE<BR>The dollar lost ground on the mark after a sharp
increase yesterday<BR>following Italy's cut in interest rates.
Speculation that Germany would<BR>follow suit has eased, putting pressure on the
dollar. Analysts expect<BR>further moves as short-term rates in the
countries participating in the EMU<BR>must converge by January. GBP
fell for a fifth straight day on renewed<BR>speculation of a rate cut by
the BOE. The CBI reported that industry<BR>confidence has suffered
its worst decline since 1980 which analyst point to<BR>as evidence that lower
interest rates are needed. In Norway, the Prime<BR>Minister stated
that the government would not use taxation on fx-trading as<BR>a means to stop
speculation against the NOK.<BR><BR>ASIA<BR>September unemployment in Japan
remained at an all time high of 4.3%,<BR>affirming the downward economic
trend. The jobless rate has risen 14 of<BR>the last 15 months in
Japan. Finance Minister Miyazawa said the government<BR>will release
its latest stimulus package November 16th. However,
traders<BR>remain skeptical that the extra measures will be enough to turn the
economy<BR>around. Korea also weakened on the back of
the yen amid fears of a rate<BR>hike.<BR><BR>NORTH AMERICA<BR>US consumer
confidence fell 9 points in October as the Conference Board<BR>reported that
consumer expectations have deteriorated to a level associated<BR>with sluggish
economic growth. The report indicates concern about
both<BR>current and future economic growth. After reaching a 1 week
high<BR>yesterday, CAD was sluggish as commodity prices began to
sag.<BR></FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>Respectfully,</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Richard Chehovin</FONT></DIV>
<DIV><FONT size=2>President</FONT></DIV>
<DIV><FONT size=2>Chief Currency Trader</FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Oct 27 20:06:56 1998
Received: from mx1.eskimo.com (204.122.16.48)
by mail02.rapidsite.net (RS ver 0.3) with SMTP id 11432
for <neal@xxxxxxxxxxxxx>; Tue, 27 Oct 1998 22:45:54 -0400 (EST)
Received: (from smartlst@xxxxxxxxx)
by mx1.eskimo.com (8.9.1a/8.8.8) id UAA20839;
Tue, 27 Oct 1998 20:43:28 -0800
Resent-Date: Tue, 27 Oct 1998 20:43:25 -0800
Message-ID: <MAPI.Id.0016.006f736b202020203030303430303034@xxxxxxxxxxxxxx>
Priority: Normal
X-MSMail-Priority: Normal
X-Priority: 3
To: "Omega-list" <omega-list@xxxxxxxxxx>
MIME-Version: 1.0
From: "Tom Lisk" <tosk@xxxxxxx>
Subject: Developing Intuition
Date: Tue, 27 Oct 98 22:35:58 PST
Content-Type: text/plain; charset="ISO-8859-1"; X-MAPIextension=".TXT"
Content-Transfer-Encoding: 7bit
Resent-Message-ID: <"ahB4a3.0.C55.j3gDs"@mx1>
Resent-From: omega-list@xxxxxxxxxx
X-Mailing-List: <omega-list@xxxxxxxxxx> archive/latest/27167
X-Loop: omega-list@xxxxxxxxxx
Precedence: list
Resent-Sender: omega-list-request@xxxxxxxxxx
X-Loop-Detect: 1
X-UIDL: 8d3f6362520c3b8cf6f52ba399b8f2ba
This is the fourth time I have posted this - have yet to see it appear on
the list.
-------
Last night someone posted a msg stating that their discretionary trading
decisions were invariably poor. Developing intuition is the same as
developing trust in oneself. One way I've found that may help others is to
scan charts very quickly. Quick enough that you are not letting the
conscious mind make a rational decision.
In my own work, I look through the daily futures charts three times, each
time with a different set of indicators. The first two
times I flip though them I spend no more than two-three seconds on each
chart - long enough to see the price pattern and the indicator pattern but
not long enough for the conscious mind to make a rational analysis. The
third time through I go slower using rational analysis along with my notes
of my impressions from the first two passes. This has the effect of
blending the intuitive with the rational. Often you will find that a given
impression has no rational basis - you just have a strong directional
feeling for a given market. The intuitive almost always wins over the
rational.
This may not work for new traders but as in the case of the person last
night with 11 years experience, the knowledge is there - it only has to be
tapped.
Tom Lisk
|