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!

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!

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.

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!

Paulson Vs Saudi Arabia

Watching CNN today I had the pleasure of hearing another of our wonderful Feds. Mr. Paulson apparently has decided he knows more about oil than the Saudi bunch. The middle east boys have said that the oil price is not being set by supply and demand and that current oil prices are not justified. Do you believe that the middle east wants the world to slow down oil consumption? Not hardly, less oil reliance equals less profits for them.

Mr. Arrogant, er, Paulson chimed in with his wisdom that the price is indeed being set by supply and demand. Hum, exactly how does a suite in Washington have a better understanding about the oil supply and demand than the ones actually have the oil? The correct answer is he doesn't, he is as full of hot air as the rest of our fine Fed leadership. Imagine what one of their meetings is like, arrogance unlimited.

The good news for us forex traders, there is none. If you are trading currency correctly it really doesn't matter who is telling the truth. Trade what the forex market gives you not what you want it to give. It is quite simple, let the charts do the talking, not a bunch of windbags in Washington.

The Dollar

It's amazing actually the beating the dollar has been taking. Funny thing happening, the dollar is getting beat down by currencies that are fundamentally not much better off. 2008 should be an interesting year.

Subscribe now!

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Another excellent day

It was another excellent day of trades from The FXGrail. Don't be left behind. We have all witnessed how strong the grail is. Join me and continue to make pip after pip after pip. $99 for 30 days of The FXGrail, we made 1490+ pips in one day, 3000 pips in a month, what are you waiting for. Get in now!

Sittin' this one out

After the crazy day in all financial markets, I will have a seat on the sidelines for a bit. Let the dust settle as they say. Unbelievable performance by The Grail this month. I knew this was a good system, my backtesting proved it, but it has been incredible. The key as always is to follow the rules. The trader makes the system, the system does not make the trader!

The final tally for the month of February:

Week #1: +521
Week #2: +118
Week #3: +493
Week #4: +377

Total for February: +1509.

Those are some very good results. They could have been much better, conservative estimate is that I left over 600 pips on the table. That tells me two things, 1. The Grail is a very powerful system 2. I need to refine my profit taking strategy to capture a few more pips. All in all very happy with The Grail, made some serious profit this month. As always, happy trading.