AUD and NZD

[Dave Floyd]

With sustained rate hikes in the US in question after Friday's dismal payroll number, risk aversion among traders/investors is high yet again. This backdrop will likely have those same individuals seeking yield. With rates a full 475 bp's higher in New Zealand and 325 bp's in Australia and with limited specualtive positioning in these currencies via FX futures, the carry trade may well be on its way back.

Technically both of these currencies are set up to the long side. However, I will refrain from an entry at this point until after the Fed meeting. The verbage and decision will offer a better insight going forward.

Dave Floyd
Aspen Trading Group

[united46]

Dave

Welcome and nice to see a known face from TM with a proven record.

Question; on FX, do you only take trades based on longer term charts i.e 1hr plus or do you ever trade the shorter time frames?

DUFC

Come on Chelsea!

[Dave Floyd]

Let's address the important comment first....Chelsea. Keeping my fingers crossed, but I am optimistic!

Personally I have found that staying with a 60-minute, daily and weekly time frame has proven more beneficial than trying to go into scalp mode. My early attempts at scalping proved to be inconsistent. My comfort level is on the longer time frames and a nice macro story to hang my hat on.

Dave Floyd
Aspen Trading Group

[united46]

I think they should be renamed... the Central Bank of Chelsea.

Spending £100mill a season!!! Perhaps they should give you some cash to manage so they can carry on that level of financing.

How's the new house?

Anyway, I have to admit that I find hago's 523 trend useful in Fx for finding setups. I always execute in 5 or 15 min time frames though.

Are you still trading stocks or is it mainly fx now?

Regards

DUFC

[Dave Floyd]

DUFC,

You know I wanted to qualify that statement I had made, I do not dismiss shorter time frames, they just have not done the trick for me.

I have been meaning to ask Roman is he would care to toss me a few million dollars for prudent managment.

Yes, I still do trade stocks on the opening, since there are still a few nuggets to pick up each morning, however, FX has consumed the rest of my day.

Keep up the good work on the FX with Hago's stuff.

Cheers!