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PLEASE Stop Looking - IQD is NOT "On Forex"


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Sadly,it won't help. There seems to be a new conspiracy theory that there is some "shadow" Forex market that the IQD is secretly trading on, and that these sites are showing that secret trading that is going on only among the elites.

Complete science fiction...there is no such shadow market. Who would buy into such a ridiculous theory anyway? :P

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(edited)

THANKS MR.GPCARTER You just kept me from looking like a big dum dum I have come so close to posting on here about the changes i have been seeing in forex and others. was very hopeful but something deep down said i was not putting it all the pieces in the right place YOU HELP TAKE THE FOG AWAY I now stand with a clear head and ready to move on Thank you once again. funny how one knows the ans, and can't put the finger on it rolleyes.gif

Edited by 1spirit1
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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.

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.

Now this is a great, intelligent and simple explanation. Thank you!B)

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***///

Thank you again, Mr. Carter.

I've always trusted that we can obtain clear and concise information from our fellow posters here when needed and you've proved that point well herein above...

Helping to educate, sharing the knowledge is a true gift, one we appreciate very much. You're another one of my go-to guys for big brainiac stuff, now! ;)

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  • 2 months later...
  • 3 weeks later...

What's funny, is that no one has answered the question yet, as per why the dinar is even on Forex, or anyhwere else, especially with ANY rate, other than that of the CBI's?...And by the way...it is paired to the USD when showing these various rates!

Simple fact is the DINAR IS NOT ON FOREX... period!!

If you are guilty of going to a "Forex Site" and looking at info on the Iraqi Dinar, you need to go to your bathroom mirror and take a good honest look at the local idiot!

The ONLY place you will get correct info on the value of your Dinar is on the cbi.iq website.

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  • 10 months later...

I currently have 3 forex platforms opened up, from 3 different brokers. When I type usd/iqd into the quote box on all 3 platforms they don't even recognize the symbol. If this thing was on the forex, I could trade it..... PERIOD. 



Hello GPCarter, could you please provide me some advice regarding Forex? Thanks in advance.

I'll point you to a link with tons of good info later. I'm headed out for the day.

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I currently have 3 forex platforms opened up, from 3 different brokers. When I type usd/iqd into the quote box on all 3 platforms they don't even recognize the symbol. If this thing was on the forex, I could trade it..... PERIOD. 

I'll point you to a link with tons of good info later. I'm headed out for the day.

 

 

TENFORE Forex Symbology
 
DTN provides three sources: TenFore, Barclays and FXCM 
 
The symbology for TenFore FOREX symbols is 
"[bASE CURRENCY][sECOND CURRENCY].[CONTRIBUTOR CODE]"
 
The symbology for TenFore Precious Metals symbols is 
"[METAL CODE][CURRENCY].[CONTRIBUTOR]"
 
The symbology for TenFore Coin symbols is 
"[COIN CODE][CURRENCY]C.[CONTRIBUTOR]"
 
For Example: (USDJPY.COMP)
 
           
SYMBOL............ DESCRIPTION..............EXCHANGE.... SECURITY TYPE... LISTED MARKET

EURIQD.COMP ..COMP EUR IQD Spot ... FOREX ..........FOREX................... TENFORE
GBPIQD.COMP.. COMP GBP IQD Spot .. FOREX ..........FOREX ....................TENFORE
IQDGBP.COMP.. COMP IQD GBP Spot .. FOREX ..........FOREX ....................TENFORE
IQDUSD.COMP.. COMP IQD USD Spot.. FOREX.......... FOREX ....................TENFORE
USDIQD.COMP.. COMP USD IQD Spot .. FOREX.......... FOREX ....................TENFORE
EURIQD.DRES... DRES EUR IQD Spot ... FOREX......... FOREX ....................TENFORE
GBPIQD.EUAM ...EUAM GBP IQD Spot .. FOREX......... FOREX .....................TENFORE
IQDGBP.EUAM... EUAM IQD GBP Spot .. FOREX .........FOREX .....................TENFORE
IQDUSD.EUAM... EUAM IQD USD Spot ... FOREX .........FOREX .....................TENFORE
USDIQD.EUAM ...EUAM USD IQD Spot... FOREX......... FOREX .....................TENFORE
USDIQD.RADA ...RADA USD IQD Spot... FOREX......... FOREX .....................TENFORE
       

Read more: http://dinarvets.com/forums/index.php?/topic/143639-current-dinar-trading/#ixzz2NW7vXQYW

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  • 3 months later...
  • 1 month later...
  • 3 months later...

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.

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.

Thanks for the insight.  I will save a lot of time and aggravation now by not continually checking Oanda for the exchange rates.  I appreciate your posting.   :tiphat:  :salute:

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  • 3 months later...

I realize this is an old thread but I think it is the best place to put my question.

 

With all the recent discussion, laws being passed, CBI announcements, etc. it seems the RV may be close. The one thing I haven't heard about (and maybe I missed it) is forex listing IQD. Is it a safe assumption that before an RV occurs, the IQD will become listed on forex? If so, will we be able to find out about it if we aren't licensed traders? If not, how will we exchange our dinar?

 

Thank you to any who attempt to answer me. I appreciate all the good information and all the fun on this board.

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DragonChylde,  Adam has written about those things in a book called The Free Cash in Guide. The links for that and other great info are at the bottom of all pages on this site. This one too!! There a are lot of helpful people here!! :) You should hear something soon from others that know a little more than I. Love this site!! :)

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Thank you very much, wc41. I downloaded and read that Guide last night. It answered some concerns but certainly not all. I would appreciate it if someone who knows about forex and how it works might address this issue. I know we have a tremendous pool of knowledge to draw on within the membership. Regardless of what the dinar does or does not do, I would appreciate understanding the process.

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  • 8 years later...

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