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.
Tuesday, January 20, 2009
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!
Wednesday, September 24, 2008
Bailout, Economy, And More......
I love this business. I hate to relish in the US economy meltdown but there has been serious money made over the last month or so. Trading only my three strike setup has been very lucrative (minus some crappy roll rates). I have been quite busy raking in the pips, too busy to post. That is the beauty of the forex market, pips to be made regardless of the actual state of the economy. Beautiful!
Now about that economy. The Feds have proposed a $700 billion dollar bail out. I may be of the minority here in this country but I have got to say NO! Let the idiots suffer. Do I believe that without this money the country will collapse. NO! Will it be tough, most certainly there are hard times ahead. This mess won't get fixed overnight, $700 billion or not. Nobody is there to bail me ou when I make stupid decisions, terrible trades, crappy investments. When is enough enough. Did these investment banks share any of their record gains over the previous year? Uh, no. Where was the Fed years ago when anybody with a head on their shoulders knew there was trouble ahead? Where were they when these investment banks were cooking the books, hiding this bad debt? I'll tell you where they were. They were on Capitol Hill telling congress that the economy was fundamentally sound over and over and over.
Let them all fail. It's time to start over. $700 billion or not this economic model will need to be changed. The bailout is and will be just a band-aid (an expensive one at that). You do know that the new CEO of Freddie Mac will make $900,000 this year. Less than the former idiot but come on. If things are so bad, the gov had to bail these guys out, don't you think this guy should be working for a bit less? I know $900,000 is tough to live on but give me a break. This is the perfect example of why the USA is in such a mess. SHOULD BE INTERESTING!
Now about that economy. The Feds have proposed a $700 billion dollar bail out. I may be of the minority here in this country but I have got to say NO! Let the idiots suffer. Do I believe that without this money the country will collapse. NO! Will it be tough, most certainly there are hard times ahead. This mess won't get fixed overnight, $700 billion or not. Nobody is there to bail me ou when I make stupid decisions, terrible trades, crappy investments. When is enough enough. Did these investment banks share any of their record gains over the previous year? Uh, no. Where was the Fed years ago when anybody with a head on their shoulders knew there was trouble ahead? Where were they when these investment banks were cooking the books, hiding this bad debt? I'll tell you where they were. They were on Capitol Hill telling congress that the economy was fundamentally sound over and over and over.
Let them all fail. It's time to start over. $700 billion or not this economic model will need to be changed. The bailout is and will be just a band-aid (an expensive one at that). You do know that the new CEO of Freddie Mac will make $900,000 this year. Less than the former idiot but come on. If things are so bad, the gov had to bail these guys out, don't you think this guy should be working for a bit less? I know $900,000 is tough to live on but give me a break. This is the perfect example of why the USA is in such a mess. SHOULD BE INTERESTING!
Monday, August 11, 2008
Greenback On The Move!
Wow, oil takes a nice dip and the greenback makes a pretty good run. We knew it was coming, just didn't expect it quite so soon. The FXGrail traders were rewarded quite nicely on this greenback rally just by trading the modules. More than one module triggered trades and if you kept to the program you should have made a small fortune from this currency rally. It's as I have always stated when it comes to The FXGrail, trade what the charts show you. In a nutshell it really is that easy. Find a system and stick with it and you will be rewarded.
We talk a lot at the Grail about risk free trading, this rally was the perfect example of what we are talking about. The recent EUR/USD and USD/JPY trades are the prime example of what the Grail is about. Keep trading people, lots of money to be made.
We talk a lot at the Grail about risk free trading, this rally was the perfect example of what we are talking about. The recent EUR/USD and USD/JPY trades are the prime example of what the Grail is about. Keep trading people, lots of money to be made.
Tuesday, July 29, 2008
Could It Be?
Is this the end of the bear market? I doubt it. This seems to me to be more of a bear market bounce, better known as a suckers rally. I don't believe we have seen the bottom yet. Watch the dollar in the coming weeks, I think we will continue to see it trade in the same range it has for most of the summer. We will see another run at Eur 1.60 which would be a great opportunity to add some long term EUR/USD shorts and make some money this fall/winter. I believe black gold (oil) will also tease us a bit. Beware of the false bottom!
Saturday, July 26, 2008
Forex, Oil, Banks, & The Dollar
What a web we (the US) weave. This is a most interesting time in the currency world. Has the oil bubble burst? Is the US economy hit rock bottom? Will the dollar regain its place in world economics? I do not pretend to know the answers to any of these questions, I really do not care. As a forex trader I just trade what I see. All traders should trade what they see. The fundamentals behind all of these questions are fascinating and do play a part in my overall strategy. Notice in a previous post I recommended to be careful of any long term dollar short. I still hold that view. I do believe we will see the greenback start to gain back some of it's prestige. The thing you must remember is it's in the best interest of almost everybody to have a strong dollar. Notice recent reports out of the Eurozone, they want a stronger dollar. China wants a stronger dollar as they have a fortune in dollars and a weak buck makes no sense for them, it lessens there holdings.
Has the oil bubble burst? I believe what you are seeing is a technical pull back. I do believe we are near the top of the range for oil but I don't believe we'll see any kind of burst. Remember where oil was last year at this time and give it some thought. Is this recent pullback the bubble bursting? No, oil would have to fall quite a bit more for any talk of bubble bursting to make any sense. What will be the downfall of oil is the renewed efforts to lessen the dependence on oil. This is what the Saudi's are worried about. I see it in everyday conversation with ordinary people.
There is still much pain to be felt in the US economy as more banks will fail because of the mortgage mess and unemployment will remain high. However, the worst may be over for the US economy. Now it's time for other world economies to feel the pain. We(USA)are already dealing with these issues, the rest of the world will have to deal with them too.
Has the oil bubble burst? I believe what you are seeing is a technical pull back. I do believe we are near the top of the range for oil but I don't believe we'll see any kind of burst. Remember where oil was last year at this time and give it some thought. Is this recent pullback the bubble bursting? No, oil would have to fall quite a bit more for any talk of bubble bursting to make any sense. What will be the downfall of oil is the renewed efforts to lessen the dependence on oil. This is what the Saudi's are worried about. I see it in everyday conversation with ordinary people.
There is still much pain to be felt in the US economy as more banks will fail because of the mortgage mess and unemployment will remain high. However, the worst may be over for the US economy. Now it's time for other world economies to feel the pain. We(USA)are already dealing with these issues, the rest of the world will have to deal with them too.
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