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Posts by "montmorency"

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678 Posts Total by "montmorency":
604 Posts by member
montmorency
(Abingdon, United Kingdom)
74 Posts by Anonymous "montmorency":
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montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 3, 2010 1:14
In Thread: Commodity FX (CAD AUD NZD NOK)
Seems like everything increases risk appetite these days.
The stock market is running on empty and is being flown by kamikaze pilots...
(....ok, slight exaggeration, but ... :-) ).
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 3, 2010 1:07
In Thread: GBP Trade Index 18-Year Chart
@Said: I doubt if it was the weather that made you laugh! It seems like winter is back.

I closed 2 out of 3 short cable positions Friday for reasonable (targeted) profit and left one open, in small profit. Will look to add at a good opportunity after the FX market reopens Sunday night/Monday.

Seems like gold could go either way at this point, but that's another thread...
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 3, 2010 0:56
In Thread: GBP
[Yesterday=Friday - I just noticed the forum is still on GMT, and not BST :-) ]
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 3, 2010 0:54
In Thread: GBP
Well one of the UK tabloids yesterday was shouting out about the market going up and the pound strengthening.

Time to sell both the market and the pound I think :-)
(actually I did sell the pound/USD and made at least 50 pips thank you :-) ).


@Macrosam: yes, entries are critical but at the same time I find that entries are by no means an exact science, unless perhaps one is an extreme guru. Being a mere mortal, I have to go with my "twig in the water" approach. :-)
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 2, 2010 1:15
In Thread: EUR
I agree with everyone that the rise in EUR is unsustainable, although as for topping up with shorts, of course that's a very individual decision. I'm being a little cautious there myself (a bit bolder with cable, as it happens).

As for oil, I can never figure it at all, and leave it alone these days; it's even trickier than gold and that's saying something.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 2, 2010 0:43
In Thread: GBP
@Ashraf: Great. Will look out for it.


@AMG: well, it went significantly above 1.52, not that this surprised me too much.
Nearly 1.53 as I write, and can see it going a bit higher, especially with this "holiday madness" that Callum wrote about. Don't know about Macrosam's 1.56-57 though. I think we'll see 1.50 before we see 1.56, but that's just idle guesswork, more or less.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 2, 2010 0:30
In Thread: JPY
@Nzvik: "Also, catching absolute tops and bottoms is a losing exercise for me at atleast - so start small - and see how the trade develops over the next day or two - add to it or get stopped out. "

This reminded me a little bit of the stories of Jessie Livermore who would test the market with small (or in his case, perhaps not so small) trades.

Being a low-leverage man myself as well, I often regard a lot of my trades as test trades.....kind of like dropping a twig in the water to see which way the current is flowing. I also use them as kind of "markers", if that makes any sense.

Having said that, I'm not in any JPY trade myself at the moment. I don't think I understand the JPY well enough yet (not that I necessarily understand the USD, the EUR, the GBP, ....etc either :-))) ).
montmorency
Abingdon, UK
Posts: 610
14 years ago
Apr 1, 2010 14:01
In Thread: GBP Trade Index 18-Year Chart
@Shaer: Just a personal opinion from a non-expert, but 1.49 was a touch low perhaps. However, if you can hold on to it for a bit, I think it could come out ok. I personally would be happy to short from around 1.5250, or maybe wait and see if it goes to 1.5300 or 1.5350. If it did get that high I would see that as a correction before the resumption of the downtrend, and not a new uptrend.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Mar 31, 2010 20:29
In Thread: GBP
@Ashraf: Thanks for the tip - should have thought of that. Yes, useful, plus I noticed the link to the YouTube reviews of the London seminar. Are there plans yet for a further London one this year?


@Amg: I'm inclined to agree.
montmorency
Abingdon, UK
Posts: 610
14 years ago
Mar 31, 2010 16:34
In Thread: Gold & Silver's Dead Cat Bounce
@SydneyJames: Not sure if I would talk about a gold "rally" at this point. It seems to be in a kind of doldrum state. Not to say that it _won't_ rally at some point though.
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