Forum > View Topic
by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
you are doing something wrong. One CANNOT trade a NOK cross like an EUR USD GBP...cross
because NOK has very low liquidity. Norske central bank does not print Norway Kroner in excess.
The bank does not buy bonds. When you trade a pair with high liquidity such as EURUSD this is easier to predict. But NOK supply is very small. When you trade NOK you should not do it on fx but with options and be patient. You need to understand the general trend which is only fundamental it is not to be seen in charts. When global recession is ahead you would not want to be long in NOK. It will plunge even vs weak Euro in long term. But when EUR is unreliable
then you'll go NOK long, i.e. EURNOK short. One can make very good profit with NOK cross but only if you trade fundamentals.
Being so stupid and asking for personal advice on this forum and to Alaidi was the dumbest thing I have ever done.
Many times I asked for shorting JPY against NOK, then he said it was no good idea. The next move was 8% decline in JPY.
Now that I asked about the CHF/NOK he only claimed it will go higher and some others here did not beleive the pegging of CHF to EUR would work either. Well just 2 weeks later it dropped from 7.82 to 6.17!!!!
Well, I am the idiot listening to these advice. It costed me extremly.
But this is all bullshit. Al do NOT have a clue about NOK. That is my opinion and this forum is fading away also.
Now I will leave this forum and never come back again. I am finished with currency! Finally!
Good luck to you all nad goodbye.
"support at $1.0150 ahead of further bids at $1.0085/80 and barrier interest at $1.0010/00 with stops set on a break.."