Gaining an Edge over the Forex game of Mind, Money, & Wealth
Tuesday, January 23, 2007
PA dessi 17:46 GMT January 23, 2007
GPBUSD walking a difficult road. Failure to sustain 1.9850 on a daily and weekly basis this Friday may signal end of the road for the brave cable cheerleeders. For me, taking ito account the overextended and overvalued gbp crosses which are at or have surpassed major previous multiyear resistances, selling cable and holding previous sells form lower levels seems the logical way to go. Also, gbp and its crosses seem to have hard times during the end of january -march part of the year. And if one checks the monthly gbp crosses charts, it shows that if january is trendy, february usually trends in the opposite direction. To conclude, selling gbp in the 1,98-2,0000 box is good for 10-15 big figures, time schedule end of February or mid March, the risk being not more than 2-3 figures above. Pretty nice setup indeed. AIMVHO. Good trading all!
van Gecko 15:19 GMT January 23, 2007
ab.. specs are net long gold & fishes are buying here near a s/t triple top.. I don't think the Chinese would make a habit of "massive buying" anything at/near a s/t triple top with the fishes..
gold @646
hk ab 15:04 GMT January 23, 2007
Gecko, I thanked for your view on gold and the carry elaboration. However, would like to know why we should not be afraid of Chinese massive buying? Won't that be horrible if one is squeezed for 50-60 bugs up before massive down happens?
van Gecko 14:02 GMT January 23, 2007
euroophiles hoping to regain 1.30 should watch euroo/Jap like a hawk here.. the cross must close above 158 or risk another multi-fig dive for both..
Euro @1.3040 Eur/Jpy @158.20
Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
GPBUSD walking a difficult road. Failure to sustain 1.9850 on a daily and weekly basis this Friday may signal end of the road for the brave cable cheerleeders. For me, taking ito account the overextended and overvalued gbp crosses which are at or have surpassed major previous multiyear resistances, selling cable and holding previous sells form lower levels seems the logical way to go. Also, gbp and its crosses seem to have hard times during the end of january -march part of the year. And if one checks the monthly gbp crosses charts, it shows that if january is trendy, february usually trends in the opposite direction. To conclude, selling gbp in the 1,98-2,0000 box is good for 10-15 big figures, time schedule end of February or mid March, the risk being not more than 2-3 figures above. Pretty nice setup indeed. AIMVHO. Good trading all!
van Gecko 15:19 GMT January 23, 2007
ab.. specs are net long gold & fishes are buying here near a s/t triple top.. I don't think the Chinese would make a habit of "massive buying" anything at/near a s/t triple top with the fishes..
gold @646
hk ab 15:04 GMT January 23, 2007
Gecko, I thanked for your view on gold and the carry elaboration. However, would like to know why we should not be afraid of Chinese massive buying? Won't that be horrible if one is squeezed for 50-60 bugs up before massive down happens?
van Gecko 14:02 GMT January 23, 2007
euroophiles hoping to regain 1.30 should watch euroo/Jap like a hawk here.. the cross must close above 158 or risk another multi-fig dive for both..
Euro @1.3040 Eur/Jpy @158.20
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Trading is not an exact science contrary to the popular belief of most new or inexperience traders.. In trading, we must allow for some margin of errors within our defined risk & trading time frame.. allowing for this margin of error under the constraint of trading in micro time frames with stops & profit targets all inside a small fluctuating market noise band in hope of achieving consistent profits over time is very difficult, if not impossible.. as whenever we are right, we are only small right within the confine of the small P/L band which limit our odds to playing for break even at best over time.. Trading longer time frames allows for a wider margin of error but at the expenses of increased risk.. however, the odds of being right & achieving consistent profits over time are enhanced when good market analytic & trade management strategies are applied under the proper market bias.. When we are right, we need to ensure that we are bigger right over an expanded profit band in-order to compensate for those times when we are wrong..
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