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Post by stevejss1 Tue Jan 31, 2012 11:08 am

Mods I just ran across this and thought it was very educational. I didn't see it as a rumor but information. You decide, thanks Blessings
HomeOur BlogArchiveUser Q & AWise WordsRecap EmailsWhat People are Saying NowSmashing

more...Forex Trader First Hand Info - Post By GPCarter
01/31/2012 _Post By GP Carter Forex Trader

As a full-time, forex trader I felt I should make this posting. I keep seeing posts where people talk about the IQD "movement" and rate changes on sites like XE, Forex Pros etc., and I felt compelled to share this information.

Due to the time I spend doing market research and analysis for my forex trading I don't have much time to do the question and answer thing on the forums. So, that is another reason I am making this post.

FYI, I am not trying to beat anyone up, bash, be rude or stir up trouble. I am actually hoping that this will help people get a better understanding.

First off I would like to mention:

1. Yes, I am a holder of IQD
2. Yes, I believe it will RV
3. No, I don't believe it will be a LOP
4. No, I don't get into time, rates, dates etc.
5. No, I don't have any "secret" or "inside" information and none of the other forex traders I know do either.
...
Read More Link On Right
_
Now on to the other things:

1. IQD is NOT, as some like to say, "On Forex". Sure, IQD is listed on sites like XE, Forex Pros and many others but NONE of these "sites" are a part of the actual forex market.

NONE of these sites are market participants or one of the entities considered to be an actual part of the forex market. These sites are simply sources of information, research, trading tools, education and other things.

A lot of people see IQD listed on one of these sites and assumes it means it is "on forex" or that those sites are some "official" authority but neither of those assumptions are true. Being listed on a "site" is NOT the same as being "on forex". When it is internationally traded it will then be "on forex".

2. The so-called "movement" or "change" in the rate and on the charts that you see on those sites has NOTHING to do with movement of IQD. Remember, IQD is not traded in the forex market.

You can not find it listed in the trading platform of ANY forex broker or market maker. NOT ONE. There are even brokers where you can go right now and deal in exotic currencies such as Dinars from Kuwait, Jordan etc. and NONE of them deal in the IQD. Why? Because it is not "on forex".

The movement you see on those sites is a result of the value of the currency paired to it. For example, if the USD strengthens then you can buy MORE IQD for each dollar.

If USD loses value then you would be able to buy LESS IQD for each dollar. As the value of USD rises and falls then it would be reflected on these sites and in the charts and changes and fluctuations in the rate.

Some people see these changes and assume it is because of the movement in the IQD but it is not. The only time we "really" saw movement in the IQD was the recent change made by the CBI. ALL the other "changes" you see on these other sites mean absolutely nothing.

2 WHY are the changes meaningless? Forex brokerages, market makers and even sites like XE get their rates from data providers such as central banks.

When you see what looks like a rate change in IQD on those sites AND that same rate is on the CBI then it is an actual change. Otherwise, all you are seeing is a result of the change in value of the "other" currency you have paired with the IQD.

Checking all these forex sites is actually a waste of time at this point. The place we all want to see the change is on the CBI site. We want the information directly from the horse's mouth and not from a "non official" third party site.

My advice is to save yourself some time and focus only on the CBI at this point. It makes absolutely no sense to check sites for movement and changes on a currency that is not even a part of the forex market at this point.

Hope this info helps someone.



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Post by ProDinar Tue Jan 31, 2012 11:45 am

Well, that's one that seems to know ..

"AJ", are you also able to access the "For-ex" he talks about & confirm?

More than one confirming would, to me, be more true sounding.

"What say you?"
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Post by Ponee Tue Jan 31, 2012 11:47 am

Very interesting indeed. And makes a LOT of sense.

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Post by therealbutterfly Tue Jan 31, 2012 12:33 pm

@ProDinar wrote:Well, that's one that seems to know ..

"AJ", are you also able to access the "For-ex" he talks about & confirm?

More than one confirming would, to me, be more true sounding.

"What say you?"

Why not call any broker and see if you can buy it thru them. They will say no. Its not trading on forex. Its just been listed on there for years. If it was tradable, you could buy it there vs only thru dealers and select few banks.
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Post by Horizon Tue Jan 31, 2012 1:03 pm

Interesting facts! thanks!

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Post by ProDinar Tue Jan 31, 2012 1:05 pm

@therealbutterfly wrote:
@ProDinar wrote:Well, that's one that seems to know ..

"AJ", are you also able to access the "For-ex" he talks about & confirm?

More than one confirming would, to me, be more true sounding.

"What say you?"

Why not call any broker and see if you can buy it thru them. They will say no. Its not trading on forex. Its just been listed on there for years. If it was tradable, you could buy it there vs only thru dealers and select few banks.



My thoughts are more for the newbies & those who want to think otherwise. I'm not needing to check, as I believe, it will not happen for a few more months, maybe around July as GOI or someone in the GOI or CBI has said in the past. It may also take us into 2013?!

No link to give on where I heard about July, sorry, I wish I did save it....
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Post by ADMIN Tue Jan 31, 2012 1:11 pm

@ProDinar wrote:
@therealbutterfly wrote:
@ProDinar wrote:Well, that's one that seems to know ..

"AJ", are you also able to access the "For-ex" he talks about & confirm?

More than one confirming would, to me, be more true sounding.

"What say you?"

Why not call any broker and see if you can buy it thru them. They will say no. Its not trading on forex. Its just been listed on there for years. If it was tradable, you could buy it there vs only thru dealers and select few banks.



My thoughts are more for the newbies & those who want to think otherwise. I'm not needing to check, as I believe, it will not happen for a few more months, maybe around July as GOI or someone in the GOI or CBI has said in the past. It may also take us into 2013?!

No link to give on where I heard about July, sorry, I wish I did save it....

Isnt June when the UN revisits Iraq situation... maybe that is what the July is based on...

Thanks for staying positive...

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Post by Ponee Tue Jan 31, 2012 1:23 pm

Moving it out of OOM 2 topics forum and into General Discussion .... Thanks for the info!

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Post by ProDinar Tue Jan 31, 2012 1:28 pm

Miskebam wrote:
@ProDinar wrote:
@therealbutterfly wrote:
@ProDinar wrote:Well, that's one that seems to know ..

"AJ", are you also able to access the "For-ex" he talks about & confirm?

More than one confirming would, to me, be more true sounding.

"What say you?"

Why not call any broker and see if you can buy it thru them. They will say no. Its not trading on forex. Its just been listed on there for years. If it was tradable, you could buy it there vs only thru dealers and select few banks.



My thoughts are more for the newbies & those who want to think otherwise. I'm not needing to check, as I believe, it will not happen for a few more months, maybe around July as GOI or someone in the GOI or CBI has said in the past. It may also take us into 2013?!

No link to give on where I heard about July, sorry, I wish I did save it....

Isnt June when the UN revisits Iraq situation... maybe that is what the July is based on...

Thanks for staying positive...

That very well could be, Miske...
The June time frame was from a posting a bit later than the July, as I had read...
AJ, also said he read that also, so that makes me feel better in knowing I didn't dream it, lol...
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Post by bobd Tue Jan 31, 2012 1:32 pm

thanks steve great read makes sense.

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Post by dinarstar Tue Jan 31, 2012 2:57 pm

"My advice is to save yourself some time and focus only on the CBI at this point. It makes absolutely no sense to check sites for movement and changes on a currency that is not even a part of the forex market at this point."
------

Thus confirming what has scrolled across the top of our page forever,thanks Miske! :cheers:

"IF YOU DONT SEE IT ON CBI OR FOREX, IT HAS NOT HAPPENED!"


GOOOOOOOOO RV Razz Razz Razz

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Post by doodoo Tue Jan 31, 2012 3:45 pm

I am sooooooo bored......... Will someone wake me up when the RV hits?

Forex info, Mods check 9k=

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Post by Kevind53 Tue Jan 31, 2012 3:57 pm

@doodoo wrote:I am sooooooo bored......... Will someone wake me up when the RV hits?

Forex info, Mods check 9k=

Picture looks like you are screaming in terror as you plummet to your doom! LOL! lol!

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Post by Blexum Tue Jan 31, 2012 4:53 pm

Kitty is just laughing at all the g***s on recaps complaining about people talking about their predictions and doing the same thing as the kitty...laughing at them for saying the same thing over and over again..this time tomorrow..next day..day after that..
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Post by Kevind53 Tue Jan 31, 2012 5:03 pm

@Blexum wrote:Kitty is just laughing at all the g***s on recaps complaining about people talking about their predictions and doing the same thing as the kitty...laughing at them for saying the same thing over and over again..this time tomorrow..next day..day after that..

This is totally uncalled for and has nothing to do with this post ... drive by bashing is not allowed. Please try to be positive.

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Post by Ponee Tue Jan 31, 2012 5:20 pm

@doodoo wrote:I am sooooooo bored......... Will someone wake me up when the RV hits?

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Oh that's just great! I leave and then come back to find that you had a blanket tossing party without me.... Thanks alot!
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Post by SEBtopdog Tue Jan 31, 2012 5:38 pm

@Kevind53 wrote:
@Blexum wrote:Kitty is just laughing at all the g***s on recaps complaining about people talking about their predictions and doing the same thing as the kitty...laughing at them for saying the same thing over and over again..this time tomorrow..next day..day after that..

This is totally uncalled for and has nothing to do with this post ... drive by bashing is not allowed. Please try to be positive.

"Drive by bashing"......Good one, kevind53! :cheers:

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Forex info, Mods check Bump~0 Will someone please let the RV Widget out of the jar?
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Post by mitkire Tue Jan 31, 2012 9:15 pm

[quote="stevejss1"]Mods I just ran across this and thought it was very educational. I didn't see it as a rumor but information. You decide, thanks Blessings
HomeOur BlogArchiveUser Q & AWise WordsRecap EmailsWhat People are Saying NowSmashing

more...Forex Trader First Hand Info - Post By GPCarter
01/31/2012 _Post By GP Carter Forex Trader

As a full-time, forex trader I felt I should make this posting. I keep seeing posts where people talk about the IQD "movement" and rate changes on sites like XE, Forex Pros etc., and I felt compelled to share this information.

1. IQD is NOT, as some like to say, "On Forex". When it is internationally traded it will then be "on forex".

Remember, IQD is not traded in the forex market.

You can not find it listed in the trading platform of ANY forex broker or market maker. NOT ONE.

There are even brokers where you can go right now and deal in exotic currencies such as Dinars from Kuwait, Jordan etc. and NONE of them deal in the IQD.

Why? Because it is not "on forex".

Forex brokerages, market makers and even sites like XE get their rates from data providers such as central banks.

When you see what looks like a rate change in IQD on those sites AND that same rate is on the CBI then it is an actual change.

The place we all want to see the change is on the CBI site. We want the information directly from the horse's mouth and not from a "non official" third party site.

FOREX can't show it until it appears on CBI.

We can't cash-in at CBI.

The banks and dealers will handle our cash-ins.

Banks and dealers can't accomodate our cash-in unless it's on FOREX.

Therefore, if you don't see it on FOREX, it hasn't happened.

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