IQD Changes on FOREX overnight !

[Chillin' out]

Thanks for all that have contributed to this thread!

For those of you that want a quick overview and lesson on the IQD and forex.

Please read my previous post.

http://dinarvets.com/forums/index.php?app=forums&module=forums&section=findpost&pid=336043

This IS a GREAT sign of things to come!

[keylime]

Thanks for all that have contributed to this thread!

For those of you that want a quick overview and lesson on the IQD and forex.

Please read my previous post.

http://dinarvets.com...post&pid=336043

This IS a GREAT sign of things to come!

Thank you for the clear conscise explanation. Your last statement leads me to believe, "Something BIG is going down" since they are suddenly updating a lot more often. However there are some on here who have watched the USD paired with Euro and the up and down ticks did not jibe with the up and down ticks of the USD/IQD pairing. Unless of course the lack of frequency didn't allow for a true comparison. Thanks again. God bless.

[RVDinar4MyFamily]

Thanks for all that have contributed to this thread!

For those of you that want a quick overview and lesson on the IQD and forex.

Please read my previous post.

http://dinarvets.com/forums/index.php?app=forums&module=forums&section=findpost&pid=336043

This IS a GREAT sign of things to come!

good post, and yes, people should read what you posted

so I brought it here lol

Due to the hype each weekend about a Monday RV, we have many members searching Forex sites for a rate change on Sundays. Since they either become overly excited or obviously confused, I thought I would share what I know about Forex. Hopefully this will tone down the erroneous reporting of something happening on Forex in regards to the IQD. Let me state that I am no Forex expert, this is simply what I have gleaned from watching Forex in hopes of a change!

First off, Forex is based on trading “currency pairs”. So we as dinar investors are looking at the IQD paired with another currency. For example, you can see the current price for the USD/IQD pair, or maybe the EUR/IQD pair. However, UNTIL the dinar becomes internationally traded (hopefully with a new rate as posted by the Central Bank of Iraq) the numbers we see on Forex are merely a reflection of the IQD value in relation to the currency it is paired with.

Note that Forex is listing the IQD pairs as a courtesy, if you will. It is not currently ACTIVELY traded. That is what we are all waiting for! So until it goes “live”, you are only seeing the IQD’s value in relation to the USD. So when you see minor movements in the price, you are merely seeing movement in the dollar reflected in the pair price. Additionally, the value is manipulated by the CBI and their currency auctions. However, until it is actively trading, it is my opinion that minor movements mean next to nothing. It’s really not telling us anything in terms of a revaluation.

So when are Forex trading hours?

Forex trading is sequenced around 4 major sessions in Sydney, Tokyo, London, and New York. Each session is 9 hours long. Forex trading opens on Sunday (in Sydney at 5pm) followed by Tokyo at 7pm, then London at 3am, finally New York at 8am (all times noted in Eastern) and continues (24 hours a day by these 4 overlapping, 9 hour sessions) until Friday. Forex is closed for the weekend.

Where to watch?

My favorites are Netdania and Forexpros. In my opinion they have the best live streaming. In fact seeing a live streaming chart of all the other major currency pairs is an easy way to spot what is NOT happening currently with the IQD. You see the majors ARE being traded and traded heavily. That is why the moment Forex comes alive on Sunday afternoon, the “big boys” immediately begin updating while our beloved IQD sits there, displaying the price from the previous Friday.

In most cases you won’t see the USD/IQD pair update until sometime between 9am and Noon Eastern Time on MONDAY.

Two reasons:

One, right now the IQD is not important to Forex. IT IS NOT BEING TRADED. Again, they are listing this pair, along with many other “minor” pairs as a courtesy to investors only.

Two, since New York doesn’t open until 8am Monday morning, I suspect they are updating it during the New York session.

So why do I watch?

Because if the IQD were to all of the sudden start updating every few seconds (not merely once each morning) then we would know its ACTIVE!

When this happens, something BIG is going down.

I hope this has been helpful…happy hunting……..and of course go RV!

Read more:

[keylime]

Thanks for all that have contributed to this thread!

For those of you that want a quick overview and lesson on the IQD and forex.

Please read my previous post.

http://dinarvets.com...post&pid=336043

This IS a GREAT sign of things to come!

What is your opinion of what we might see upon opening on Sunday?

[Darin]

What is your opinion of what we might see upon opening on Sunday?

Well in my opinion. Depends on if this is going to be a continuing trend or just a test ploy.

A test ploy would be backed w/ teh CBI evaluating the results

An on-going situation would mean that they're continuing to monitor and we'll be seeing just a lot of refreshes & updates.

But, I am no expert..

[diligent1]

Whew...

Markets are closed and it flatlines. Interesting indeed.

I was not sure what I was looking at 0330 this AM when I initially posted this, thanks for all that responded in such as positive way ...

Truly came together as a team.... and I learned a lot !

I am quite proud and honored to be part of this Family.

What a ride today. So....

What is next ? ha ha

[Chillin' out]

What is your opinion of what we might see upon opening on Sunday?

Well great question!

I am a believer that we wont see anything major without a FULL government announced and more importantly the HCL passed.

Those are two biggies on my checklist. The HCL scares me. You want to see Iraqi politicians fight and delay, let them argue about how to divide up oil proceeds.

BUT.......this more frequent updating of the IQD pairs IS HUGE in my opinion. Its not conjecture, rumor, or guru posturing, ITS HAPPENING right here on my computer screen.

That to me is way more exciting than some weekend rumor.

So why did it start updating like this?? Let me put it this way, if nothing was going to happen with this currency, why is forex all of the sudden interested?

As I mentioned in my earlier post, its NOT being traded currently. That why we were seeing only once or twice daily updates on Forex. Basically a "courtesy" for investors.

``

Understandably, in its current state, there is no need on Forex for continually updates like the major currency pairs. Nobody is trading this stuff, so there is no need for "live" updating.

Now seeing the "heartbeat" as someone earlier described it.........is very exciting!

Again, just speculation, but I think you guys are right on it. They are prepping the IQD pairs to go live. Lets hope soon and with a BANG.

And everyone remember, we want to see a LOW number on the exchange rate. Its the INVERSE to the US Dollar, so the lower the better!!

Thanks Keylime and Hopefulbk for all your postings on this subject. You guys are spot on in my humble opinion!!

[ThePhantomRider]

Yep, the IQD seems to be learning how to walk!

TPR

[eileen]

Scooter, where are you on this one????????????????????

[Frank61]

Yep, the IQD seems to be learning how to walk!

TPR

Thats a good way to put it. Soon it will run ......

[xxxgator]

This has been what i personally have benn waiting and hoping to see.IT'S THE BEST NEWS !Forex people and banks can't say it'll be tomorrow or the dinar will revalue in 2011.But they can't hide the process if they plan on the rate hitting the world at the same time.If they are going to come out on forex and Cbi ect. ect all at once it'll have to be a signifacant enough rate to fend off instant buying in a big way.Great post . Finallly something tangable that we can see for ourselves happening. Go RV!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[singaporesling]

Like I said, I think what they are watching is where it heads based on it's current value, then when trading closes, they perhaps will decide on what the RV will be and apply it.

We should not see it till Saturday night late at the earliest when CBI is back to work (Sunday there)

I think it would be most logical to occur over a weekend to give banks a chance for a quick preparation.

I want it this weekend, but that's me.

Here's how I see it going as we stand:

Last week, change in currency regime

This week, currency trading frequency increased, rate moving down (good direction)

CBI Closed Fri/Sat

Our Banks Closed Sunday

MOST People, if they hear about this not involved yet, would head to a bank to purchase dinar, because the rate going live Sat night...but can't because banks are closed Sunday...

Banks prep necessary people Sunday for what to expect Monday (earliest)

Then the rush is on...

Please understand, that's my line of thinking only, SPECULATION, but I think better than an RV happening Wednesday and Thursday banks get crushed...

TPR

You're my hero, TPR! And I like your hat, there...I hope you don't think that wearing a tin foil helmet will help the Galactians or the Pleiadians home in on you to pick you up for a little ride in the spaceship LOL! j/k...you're the bomb.

[gtbailey]

To see what you guys are seeing do you have to pay a fee with forex? If so, any chance forex is just trying to get in on the dinar frenzy?

[ThePhantomRider]

To see what you guys are seeing do you have to pay a fee with forex? If so, any chance forex is just trying to get in on the dinar frenzy?

http://forex.tradingcharts.com/quotes/custom_forex_quotes.html?sQSyms=USDIQD,USDVND,USDCNY&btnFinished=Finished:+Display+Favorite+Quotes

There you go.

TPR

[sandyf]

Current timestamp on Netdania is close of business, ie real time.

The IQD has always been several hours if not days behind real time, so there has been a change.

It will be interesting to see what happens when the eastern markets open Monday morning.

[gtbailey]

http://forex.tradingcharts.com/quotes/custom_forex_quotes.html?sQSyms=USDIQD,USDVND,USDCNY&btnFinished=Finished:+Display+Favorite+Quotes

There you go.

TPR

Thanks, lets hope forex knows something we don't.

[kennyc]

The IQD is now live on Forex which is HUGE.

To me that shows a TRADEABLE currency, we r on our way people

[umbertino]

The IQD is now live on Forex which is HUGE.

To me that shows a TRADEABLE currency, we r on our way people

It does seem wonderful indeed.... Here's hoping................

[salespro]

I keep seeing folks write it is not the rate that is interesting but that now it is a floating rate. What does it mean then, why is it so interesting? Stupid question but enlighten me please.

If they RV with a "FLOAT", my understanding is it can only move 2% for a fixed period of time. IF that is true, we wouldn't have to run to the bank. My info could be wrong, don't take "it" to the bank. I am trying to get better info from an investor...will post when I have it.