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!
Tuesday, July 7, 2009
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.
Tuesday, January 20, 2009
Barack Obama
Mr. President. President Obama! I have to say after watching the inauguration of the 44th President of the United States Of America I have a sense of renewed optimism in this country. I believe the new administration will tackle the economic crisis with fervor, I believe the change in foreign policy will be of great benefit to this country. If we can get back to the core values that this country was founded on this country has a chance.
As for the forex market, who took a long dollar position due to the inauguration? We did. No grail trade but a little bet on the optimism that President Obama would bring to the markets. It paid off. We sold two lots EUR/USD @ 1.3300 and closed a bit ago @1.2936. Not a bad little profit.
Enjoy the optimism and happiness and get ready for some Grail trades. There are a few set-ups that are starting to look good.
As for the forex market, who took a long dollar position due to the inauguration? We did. No grail trade but a little bet on the optimism that President Obama would bring to the markets. It paid off. We sold two lots EUR/USD @ 1.3300 and closed a bit ago @1.2936. Not a bad little profit.
Enjoy the optimism and happiness and get ready for some Grail trades. There are a few set-ups that are starting to look good.
Wednesday, December 17, 2008
And On And On And On...........
First I apologize to all for being away for so long. Enjoying a break during the Holiday season, not a bad idea for most traders to slow down about now. Now is a good time to catch your breath and reinvigorate for 2009. I still trade during the Holidays but I scale back a bit. Good pips to be made for sure, but good pips to lose very quickly also. Traders just be careful!
So the never ending gloom and doom continues everywhere. The US Feds just lowered the rates to nothing and it looks as if the other Central Banks will leave the rates unchanged or lower them. What does all this mean to the forex trader? It means look forward to lots of volatility in 2009. Grail traders be prepared to make some serious pips. For those of you wishing to become Grail traders the time is almost near. We have streamlined The FXGrail and the new site should be up by the new year. We apologize about the wait.
Where does the dollar go from here? As I have stated before, it does not matter much to the grail traders. Wherever it goes we will go too! With that said I found this article to be very insightful take a read here: Kiss The Dollar Rally Goodbye!
So the never ending gloom and doom continues everywhere. The US Feds just lowered the rates to nothing and it looks as if the other Central Banks will leave the rates unchanged or lower them. What does all this mean to the forex trader? It means look forward to lots of volatility in 2009. Grail traders be prepared to make some serious pips. For those of you wishing to become Grail traders the time is almost near. We have streamlined The FXGrail and the new site should be up by the new year. We apologize about the wait.
Where does the dollar go from here? As I have stated before, it does not matter much to the grail traders. Wherever it goes we will go too! With that said I found this article to be very insightful take a read here: Kiss The Dollar Rally Goodbye!
Monday, October 20, 2008
It Continues
Now that the entire world has been ailed out by the respective governments what's next? A continued global recession that's what. I suppose the "end of the world" has been adverted and the sky didn't fall.........yet!
So the gov's of the world are the new bankers? What happens when the bill comes due? The US Gov certainly doesn't have this kind of cash and I suspect neither does anybody else short of China. So basically China is the Bank Of The New World Order!
The trader says trade. If the bailout did nothing else, it has made for some nice runs in all major currencies. The carry trades have been good for some huge moves nicely telegraphed for those traders that were looking. EUR/USD, USD/CHF, GBP/USD and many other pairs were ripe for the picking. Heck, just by reading this blog the average trader should have made some nice pips.
Where are the markets heading? Who knows. Don't try to predict, trade the chart baby!
So the gov's of the world are the new bankers? What happens when the bill comes due? The US Gov certainly doesn't have this kind of cash and I suspect neither does anybody else short of China. So basically China is the Bank Of The New World Order!
The trader says trade. If the bailout did nothing else, it has made for some nice runs in all major currencies. The carry trades have been good for some huge moves nicely telegraphed for those traders that were looking. EUR/USD, USD/CHF, GBP/USD and many other pairs were ripe for the picking. Heck, just by reading this blog the average trader should have made some nice pips.
Where are the markets heading? Who knows. Don't try to predict, trade the chart baby!
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