Forum - Ashraf's Book: Currency Trading and Intermarket Analysis (Topic)

chloethebull

Canada

Posted Anonymously

15 years ago

Sep 16, 2009 0:25

ya i didn;t want to say i trade on gut feelings an stuff but your right everything goin up ..something has to give..having said that now im sure it will be usd falling ..only because im holdn long usd..lol..but your right maybe in a couple days usd will bounce back to 1.0900 level..but since i started this forex trading i;ve noticed that every 10days we go from a low to the high ..prob nothing but i still noticed it..does any1 have a veiw on uranium??in particular uranium1..a bit of a dog lately but its trading pretty cheap an i think its only a matter of time b4 uranium gets a lil attention an runs back to 50-60buks...i was playn gold back in dec had really nice position but jumped out wayyy too early an i mean wayy to early ..a friend convinced me that the banks will lead us out lol..so i sold the gold lol..was playn iam gold around 3.25..now14-15buks lol...anyways good chattin talk soon

asad

London, UK

Posted Anonymously

15 years ago

Sep 15, 2009 23:09

...and let's not forget what they did to us last Friday! Showed the right hand by taking oil up to 72.90 and then gave a left uppercut down to 69.11. Oil was supposed to reach 75 that day (on the back of good figs), right? Wrong. :)

I can tell that the chief beneficiary (apart from me, ofcourse :) ) was an inhouse commodities firm called Phibro. Anyone ever heard of it? They took massive that day!

asad

London, UK

Posted Anonymously

15 years ago

Sep 15, 2009 23:03

Ashraf,

Explain s/thing to me please. If USD is weak, then oil, gold & equities are string and all vice versa, right? But now we're seeing USD strengthening, oil strong, gold strong and equities strong, right? This shouldn't be happening - oil and gold ESPECIALLY can't +vely correlate w/ the USD! Something has to give in, right?

Look, I'm no equities guy...I'm more often driven by gut and common sense...and this combination suggests that the USD is rebounding in a couple of days...and equities are in for at least a 500 point correction!

Yeah, I made money today going long of the Dow and Nikkei simultaneously because I happened to be near my notebook when the figures came out at 1330 hours...but I didn't feel comfortable banking that money.

Again, something is not right. I don't know how much you know about thee guys...but I've had GOOD exposure to the big boys...and they know how to trap you...corner you...and kill you.

Everyone, long or short...KEEP your risk management TIGHT (Chloe...it takes three months for a market to go up and literally three sessions to come back to the same level)...

chloethebull

Canada

Posted Anonymously

15 years ago

Sep 15, 2009 22:12

no he didn;t recommend that i go long usd..i made that decision on my own...he just confirmed that it could be a good trade..(.short term) an i agree with him ...i think its a up an down game...theres no $ to be made if we go to paridy..well not like the big boys are making over the last few mths u have the usdcad swingin from 1.20ish all the way down to 1.0650..some1 making huge $$$ an i don;t think either bulls or bears want that to stop anytime more $ goin up than down it wouldn;t surprise me if we hit 1.15 again...but yes i agree eventually were goin lower but there will always be some type of upside to usd to maximize those profits...(i bet ur holding some kind of long usd position..my problem seams to be...im not nimble enough to notice change in sentiment on usd..like ashraf said rumours out on hpb buying potash...seamed to give legs to oil an gold ..tsx had a huge day..not liking oil having a big day before inventories come out this could hurt for a sec but acct is inline for more turbulance i;ll be looking to add...12days ago we hit 1.0670 an bounced off it to run back up to 1.0915..now were goin back down this time i hope to lock in some profits an stop being soo scared to take a risk...thanks for the chit chat

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Sep 15, 2009 21:31

chloethebull,
I think Ashraf should answer you the hedge question....because he recommended you to long USD/CAD.....and I am not good on hedge positions.....that's why I only trade on one side......

but, if I get your situation, I will cut half of the positions and short USD/NOK or short EUR/CAD.....I am not sure if it will be a good hedge strategy or not......

Anyway....good luck

chloethebull

Canada

Posted Anonymously

15 years ago

Sep 15, 2009 20:27

i was lookin @ gbpusd but things changed soo quickly early in the day...gl

chloethebull

Canada

Posted Anonymously

15 years ago

Sep 15, 2009 20:25

can;t i use my gold stock an other stock as a hedge on usd???or is it safer to choose another pair??thanks

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Sep 15, 2009 20:18

chloethebull,
I just want to suggest you again.....if USD/CAD break 1.067 and stay firmly below the level, try to find some pare to hedge your positions.......

It is just suggestion, you don't really need to take it if you don't believe.....

Good luck!

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Sep 15, 2009 20:13

chloethebull, hope you will be fine.....the market is a little over short USD....but I am not sure that if the market will pull back tomorrow or not......if it does I will add more short on USD...

by the way.....you are a very new guy in this blog....... I never long USD since march this year.....95% of my trades are short USD.......

Good luck!

chloethebull

Canada

Posted Anonymously

15 years ago

Sep 15, 2009 19:57

i think were entering a lower trading range...1.0650---1.0950...so i might have to ajust all my exit points to the recent high of 1.0915-20...but having said that i don;t mind adding to my position as i think there buying oppertunities..could be tomor or a couple days b4 we get news to push usd up..but 1 thing for sure it will recover....aren;t we suppose to buy on fear???lol gl