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Posts by "klondike"
37
Posts Total by "klondike":
10 Posts by Anonymous "klondike":
Am withholding judgment here until/if DX dollar index slips below 76.40 and watching actually this 1.3975 area closely to see if selling resumes.
Early morning American stock markets having their effects. Selling in the futures may be institutions actually being bullish and trying to shake loose some shares. This is Amateur hour so ??
Jury duty this week. Gotta go.
Thanks for all your input.
I enjoy the ever popular Kentucky Derby, and every other year the prep races...to do it right. Like fx you need something to filter out and in a lot of noise...news, hype, rumors and emotions.
My first experience with horses was after receiving a can't loose method in the mail. Perhaps these can't loose scientific gimmicks worked one time in the past but not by the time they reach the general public. So, I'm leery of some fx stuff sold today and offered in emails.
Money Management is important. A close friend of mine shadow authored a book by a popular fx trader and has promised to show me a few things one of these days. Recommends never risking more than 2% of the account on any one trade. Getting it right one out of four it's possible to make money, but a person can get it right more times than that I should hope refining an edge as you say. This person currently prefers to trade Bollinger bands with 21 EMA and for less stress more sleep, the hourly candlesticks outside of news hours. Much unsaid.
After many years trading gold and gold juniors I naturally gravitated to fx. Always, I am reading the news, absorbing data, select analysts, on and on so why not?
Grew up in Alaska, a bit on the rough it and even wild side at times, but also having associated amongst those with a do it with excellence spirit about them. Hope to contribute to this site periodically, but, may just be a flash in the pan.
This is getting long. With the Derby coming up sort of wanted to talk handicapping, bookies. lol
Later, and thanks again for your contribution to this site.
Not sure of all the why's on the euro but timing seems right for a 38.2% retracement of the move from 1.3426. Sold half my position at 1.3862. May not happen but holding the rest for a full 38%. I believe the interest rate hike threat could backfire on them but who knows when exactly?
Watching dollar gold and silver, not sure about euro gold. Should be watching that. Gold is not really down (nor it's sister silver) really. Just seeking some equilibrium after the run from 130?5. They're consolidating. Silver is affected by the U.S. stock markets and by gold. S&P 500 has also been in consolidation, triangular boundaries started at around 1340 and 1292. Getting tighter.
I remember from my youth hearing of China's old love affair for silver. I suspect, with inflation threats there is a rekindling of that affair. Increased demand in the world from a well deserved lack of trust in governments and central bankers is the real demand, and now greed. Quite a volatile mixture. Throw in some fear.
Not saying either will break out higher, though I do favor that notion. There are large numbers of amateurs also piling into silver simply because it's one of the things showing a strong move. I do not favor being in with them for very long periods. But hey! Just like the forex markets, there's more where those came from(sic). Personally I take a lot of advice in the Euro forum from folks like Subway and Ignore.