You have to anticipate the stress test results. IF you think it's too risky to hold, you can always sell and book your profit.

Please remember, durable goods and new homes sales data out tonight. It's either EU up to 1.35 before FOMC, or back down to 1.30.

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Added on April 24, 2009, 6:10 pmDow has been testing 7800. Like i said many many times, if DOW doesn't want to go down, it will go up. So, now you need to analyze if USD going to be dumped heavily prior to FOMC.

This post has been edited by AdamG1981: Apr 24 2009, 06:10 PM

Buy on dips.

Thanks for the support guys!

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Added on April 24, 2009, 11:32 pmHEY TXI, What happen to gu? 1.47 now... LOL.........


This post has been edited by AdamG1981: Apr 24 2009, 11:32 PM

Depends on your trading methadology. Some uses moving averages as support, resistance, some uses SR, some uses bollinger.

So really depends on you.

I closed my AU position on friday, gain 80 pips for a net gain of 240 usd

For those who long eu last week base on my recommedation, time to reduce your positions.

Well, that's why Forex is a high risk game. Not all strategies work the same way , every time. You need constantly to improve your trading methadology.

My capital? Enough for me to make few hundred a day.

Shorted AJ @ 69.34, TP @ 68.00

Breakdown

Going down! USD strengthening

Tp on my AU, shorted at 71.45, stop out at 70.72

Short UJ possible

LOL...

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Added on April 28, 2009, 3:45 pmShort EU for possible break of 1.29



This post has been edited by AdamG1981: Apr 28 2009, 03:45 PM

What a nightmare, didnt put a trailing stop and i loss big time...oh well... Very good EU.....
At least i hedge my losses with stocks...

This post has been edited by AdamG1981: May 1 2009, 10:39 PM

Forex is an instrument for those who enjoy taking excessive risks. No one's strategy is perfect, including mine. But why i make more money than others is because i change and refine my strategy everyday. If i lose, i have stocks and options to hedge against my losses. I am hardly wrong so far, and its not because i am lucky. That's because i do my homework everyday.

If you dont mind doing forex homework for 10 hours which includes reading and back testing your strategies, forex is for you. If not, you will be a novice trader. Only by experience, skills and money management, one can be a full time trader.

Incorrect.

There are certain stocks and options that have higher beta than the DJIA, SPX. Yesterday DJIA up 0.5%, but my stock went up 25%, which covered my this week losses and plus a very handsome profit.

OF course, it's not an imperfect hedge because i am more bullish in my stocks than i was in EU. Hence, my short on EU was 3 lots, but my stocks which i contra was 4000 - 5000 shares each time i purchased.

I never use stops, because i m pretty good in analyzing my charts. So far i have always won more than i lost, without using any SLs.

Please use those platforms that are simple and not so java oriented.

Of course noobs shouldnt be trading without SL. For my case, if i lose, i always make sure i have an exit plan to regain what i lost.

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Added on May 3, 2009, 2:49 pmHowever, the problem with noobs is the relunctancy to admit his/her mistakes. Like for myself, when i see things going wrong, i cut loss immediately and getting ready to execute my exit plan. Those who trade often enough should be thinking this way too.

If it touches my SL, what's my exit plan? What can i do to hedge against my losses?

God gave us a brain, and most of us don't use it.

This post has been edited by AdamG1981: May 3 2009, 02:49 PM

Yup, i work for an IB. that's part of the job scope.

Nope, that's one of BNM laws.

BNM doesnt allow IBs in forex trading which includes buying/selling gold derivatives.