Gaining an Edge over the Forex game of Mind, Money, & Wealth
Wednesday, January 24, 2007
van Gecko 08:20 GMT January 24, 2007
Euroophiles who had missed the 1.30 boat earlier may get another chance to buy the Euroo @1.2870 "double bottom" soon..
Madrid mm 07:44 GMT January 24, 2007
Strong Cross/JPY selling - unwinding of the popular JPY carry trades going through as we move into Europe,
EUR/JPY stoploss hit below 158.00/ 157.50 after a very volatile section that saw EUR/JPY hitting new all time highs of 158.59, after taking out the 158.50 triggers, only to be sold down to 157.33 longs as funds liquidate Cross/JPY on JPY carry trades unwinding.
van Gecko 07:02 GMT January 24, 2007
the limited window of opportunity to SOB Euroo & GBP may be closing soon..
"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 @1.3020 -->1.2875, GBP @1.9830 -->1.9400, Eur/Jpy 158.50 -->155.50
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..
Euroophiles who had missed the 1.30 boat earlier may get another chance to buy the Euroo @1.2870 "double bottom" soon..
Madrid mm 07:44 GMT January 24, 2007
Strong Cross/JPY selling - unwinding of the popular JPY carry trades going through as we move into Europe,
EUR/JPY stoploss hit below 158.00/ 157.50 after a very volatile section that saw EUR/JPY hitting new all time highs of 158.59, after taking out the 158.50 triggers, only to be sold down to 157.33 longs as funds liquidate Cross/JPY on JPY carry trades unwinding.
van Gecko 07:02 GMT January 24, 2007
the limited window of opportunity to SOB Euroo & GBP may be closing soon..
"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 @1.3020 -->1.2875, GBP @1.9830 -->1.9400, Eur/Jpy 158.50 -->155.50
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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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