It was an uneventful end to the forex trading week. We at The FXGrail are looking at a couple of scenarios for the beginning of the week. Could be a profitable forex week. Just waiting patiently as the trades make their way to us.
FREE MLB WINNERS FROM THE MONARCH
Friday, July 17, 2009
Wednesday, July 15, 2009
Patience
The charts are looking quite nice today. I see a few very nice grail trades setting up. To be a success in this business you must be patient. Everybody wants to trade forex, but trading to trade is the quickest way to be not trading forex. Every forex system or set-up requires the same thing to be successful. Patience. Without patience you will fail. Wait for the trade to come to you!
Publish Post
Thursday, July 9, 2009
China
So China is rattling their swords again about a new world currency. Nothing to see here folks, move along. Fortunately for the USA the Chinese government has a tremendous amount of US dollars in reserve and a huge amount of our debt. Do you really think that they are going to let the buck become the peso. Nope, will not happen. China needs a decently priced dollar or they will be holding a ton of useless debt.
Nothing more to see!
Nothing more to see!
Tuesday, July 7, 2009
Lets Roll
Hope all had a wonderful little summer break. Unemployment still sucks, the stock market still sucks, the economy aint rebounding to fast, and Forex still makes me money.
Funny thing how that works. The world goes in the crapper and we still make scratch. Excellent gig, this currency trading thing. Take a look at the EUR/USD, easy range trading since mid may. Very profitable. GBP/USD-same thing. Easy pickings my friends, easy pickings.
On a more somber note it is sad to see Michael Jackson go!
Funny thing how that works. The world goes in the crapper and we still make scratch. Excellent gig, this currency trading thing. Take a look at the EUR/USD, easy range trading since mid may. Very profitable. GBP/USD-same thing. Easy pickings my friends, easy pickings.
On a more somber note it is sad to see Michael Jackson go!
Friday, July 3, 2009
Yeah
It has been a very profitable early summer. Starting after the holiday we will get back to updating this blog on a regular basis. Hope you all enjoy it!
Thursday, February 19, 2009
Easy Money!
Simple trading, easy money. It really doesn't get much easier than the EUR/USD and USD/CHF so far this year. EUR/USD has been in a nice range as some may call it for most of the year enabling low risk high reward trades to be executed. Trade the range traders! The USD/CHF has also been giving up some good trades. Where has it gone since the first of the year? Up...UP...UP. With a few brief pullbacks this pair has gone up. The USD/CHF has been text book, enabling The FXGrail traders to make very nice profits. Congrats to all that have been Grail trading these pairs, low risk, high reward, just the way we like it. Discipline and patience pays off....big time!
After digesting the new stimulus bill I have to say I am not a huge fan of it. Common economics say that if you want to stimulate the economy the fastest way is to cut taxes, put the money into the hands of the consumer and they will spend it. Although there is some of this in the new plan, I don't feel it is a big enough chunk. A lot of $$$ is going to save homeowners from foreclosure. Don't get me wrong, I don't want anybody to lose their home but somewhere the individual or individuals have to take responsibility for making the mistake of signing a mortgage they could not afford. We bailed the banks out because they took too much risk, now we bail the homeowner out because he/she took too much risk, yet we (the government) wants all kinds of restrictions on any money given to the big three automakers. I guess I don't quite understand that approach.
Who does the government think is the middle class? I will tell you who made (notice I said made) up a large part of the middle class. The autoworkers and all those tied to the auto industry. Who do you think bought the cars that the big three manufactured? The guys that built the cars, made parts for the cars, etc. Without them this country is going to have a hard time getting nback on track. Seems this is the industry we need to bailout. Is there problems in the auto industry? Yup. Can they be fixed? Yup. Will it help the economy? Manufacturing has been the backbone of this country for over a century. What happens when you tear the spine out of something? It dies....period!
For another day: The wonderful SEC and the scam artists.....Don't get me started.
After digesting the new stimulus bill I have to say I am not a huge fan of it. Common economics say that if you want to stimulate the economy the fastest way is to cut taxes, put the money into the hands of the consumer and they will spend it. Although there is some of this in the new plan, I don't feel it is a big enough chunk. A lot of $$$ is going to save homeowners from foreclosure. Don't get me wrong, I don't want anybody to lose their home but somewhere the individual or individuals have to take responsibility for making the mistake of signing a mortgage they could not afford. We bailed the banks out because they took too much risk, now we bail the homeowner out because he/she took too much risk, yet we (the government) wants all kinds of restrictions on any money given to the big three automakers. I guess I don't quite understand that approach.
Who does the government think is the middle class? I will tell you who made (notice I said made) up a large part of the middle class. The autoworkers and all those tied to the auto industry. Who do you think bought the cars that the big three manufactured? The guys that built the cars, made parts for the cars, etc. Without them this country is going to have a hard time getting nback on track. Seems this is the industry we need to bailout. Is there problems in the auto industry? Yup. Can they be fixed? Yup. Will it help the economy? Manufacturing has been the backbone of this country for over a century. What happens when you tear the spine out of something? It dies....period!
For another day: The wonderful SEC and the scam artists.....Don't get me started.
Monday, February 9, 2009
Stimulus=838 Billion
$838 Billion. That is a chunk of change. Will the stimulus work? It sure will help. After clearing a few key hurdles in Congress it looks like Pres. Obama will get this thing passed. I believe it is a mute point whether you are for or against this massive plan. It has become increasingly apparent that the core of the economy is in danger and something must be done.
There are many good things in this stimulus package and of course, in my opinion, some nonsense. We are of course talking about Congress after all. I tip my hat to them as it does, on the surface, appear that the pork has been kept to a minimum and that's no small feat.
What to look for as a forex trader? You should see the greenback strengthen against the majors, especially on the heels of the Eurozone not cutting rates. Look back over the past year, traders like currencies when their respective governments have enacted policies to stave off this recession. Look at recent history, Bank of England cuts rates, currency jumps, Eurozone doesn't, currency suffers. Look for the same thing this week if the stimulus package gets through the Senate.
There are many good things in this stimulus package and of course, in my opinion, some nonsense. We are of course talking about Congress after all. I tip my hat to them as it does, on the surface, appear that the pork has been kept to a minimum and that's no small feat.
What to look for as a forex trader? You should see the greenback strengthen against the majors, especially on the heels of the Eurozone not cutting rates. Look back over the past year, traders like currencies when their respective governments have enacted policies to stave off this recession. Look at recent history, Bank of England cuts rates, currency jumps, Eurozone doesn't, currency suffers. Look for the same thing this week if the stimulus package gets through the Senate.
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