Wednesday, November 30, 2016

Ded FKLI, "...a real con game", one of the traders was commenting to me...

Fcpo 1 min

Usdmyr

Tuesday, November 29, 2016

Fcpo breakout on these timeframes....

Monday, November 28, 2016

So confirmation of how the NDF non deliverable forward market is a fake cartel used to afrficially move prices quickly to influence. Sentiment.

Fines too low. Should be aud250 million each...

Friday, November 25, 2016

Something to be ashamed of, or are they proud of it?

Thursday, November 24, 2016

Highest was 1636, briefly....

Wednesday, November 23, 2016

FKLI futures 15 min, on the uptrend...

Monday, November 21, 2016

USDMYR.... Still weak

A fellow trader asked me this lunchtime. "Ho ah? Capital controls? I heard the ringgit to exchange for US Dollars cannot already lah at the bank"

This is the sort of uneducated rumour mongering going on by uninformed nincompoop traders... According to my source in the banking circle, the spot USDMYR market is 'back to normal' not. The level is higher now, reflecting the supply and demand of buyers/sellers....

Friday, November 18, 2016

A non deliverable forward foreign exchange contract is described by Wikipaedia as such:

"An NDF is a short-term, cash-settled currency forward between two counterparties. On the contracted settlement date, the profit or loss is adjusted between the two counterparties based on the difference between the contracted NDF rate and the prevailing spot FX rates on an agreed notional amount.

The features of an NDF include:

  • notional amount: This is the "face value" of the NDF, which is agreed between the two counterparties. It should again be noted that there is never any intention to exchange the notional amounts in the two currencies
  • fixing date: This is the day and time whereby the comparison between the NDF rate and the prevailing spot rate is made.
  • settlement date (or delivery date): This is the day when the difference is paid or received. It is usually one or two business days after the fixing date.
  • contracted NDF rate: the rate agreed on the transaction date, and is essentially the outright forward rate of the currencies dealt.
  • prevailing spot rate (or fixing spot rate): the rate on the fixing date usually provided by the central bank, and commonly calculated by calling a number of dealers in the market for a quote at a specified time of day, and taking the average. The exact method of determining the fixing rate is agreed when a trade is initiated.

Because an NDF is a cash-settled instrument, the notional amount is never exchanged. The only exchange of cash flows is the differencebetween the NDF rate and the prevailing spot market rate—that is determined on the fixing date and exchanged on the settlement date—applied to the notional, i.e. cash flow = (NDF rate – spot rate) × notional.

Consequently, since NDF is a "non-cash", off-balance-sheet item and since the principal sums do not move, NDF bears much lower counter-party risk. NDFs are committed short-term instruments; both counterparties are committed and are obliged to honor the deal. Nevertheless, either counterparty can cancel an existing contract by entering into another offsetting deal at the prevailing rate" 


So there is no underlying real currency being exchanged. Bottom line is a fake market for market participants to collude and manipulate the spot fx rate by influencing sentiment. 

Thursday, November 17, 2016

15 min fcpo, uptrend resumes...

Wednesday, November 16, 2016

Fcpo 15 m into uptrend

The NDF market, as the fake market comes back to the real spot usdmyr market...

Monday, November 14, 2016

Usdmyr v 1 month ndf

Friday, November 11, 2016

Usdmyr. Onshore spot vs non deliverable forward, which is the 'true' rate.

Well, since the spit is based on an actual currency asset, the Ringgit it is derived based on BNM fix, to facilitate actual physical need to match buyers and sellers, transacting for business; this is the better gauge of value.

NDFs are just a tool for speculators, basically a tool for evil speculators to influence se. Timent. Just bullcrap....

Thursday, November 10, 2016

ES futures, continues on recovery 'News Reversal' setup....

Affin, a good candidate for book closure move up?

A News Revetsal setup, S&P500 futures....

Wednesday, November 09, 2016

Fcpo

FCPO, resuming uptrend?
FKLI going sideways...

The Donald Trump effect.....

Usdmyr breaks 4.2

Classic day after trend day....

Tuesday, November 08, 2016

Nice uptrends in fcpo and fkli today....

The roller coaster of the US Presidential Election 2016....

Pricing in a Hillary Clinton victory....

Wednesday, November 02, 2016

Bigger picture for the FKLI futures 15 min...


"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil

fcpo.blogspot.com

THE END OF AN ERA

From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system