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

radu

bucharest, Romania

Posts: 203

15 years ago

Oct 15, 2009 11:46

Hy ,
I think i can"t post it......all is bad lake my long on gbp/jpy ....last ask : ENYBAODY HAVE A IDEEA WHAT IS GOING ON WITH GBP/JPY AND EUR/JPY ?/???
THANKS

Keivan

Tehran, Iran

Posts: 5

15 years ago

Oct 15, 2009 8:22

Dear Ashraf,
I just received your book. It seems it is a little heavy for me. Do you advice or recommend reading any prior book before reading it to better understand it?
For your info I have "Currency trading for dummies" too, but all others are technical.
Please advice,
Thanks a lot.
Keivan

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Oct 15, 2009 3:30

asad,

I think that oil will go to 80 to 85 in next 6 months.......S&P will go to above 1200, maybe it will go to 1500 next 6 months.......we are not in the bubble yet, but the mini bubble is forming now........

The regulators want to punish oil traders......so the oil traders may buy more physical gold as the positions to against long term inflation.......

Good luck!

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Oct 15, 2009 2:57

asad,
I am short USD/NOK as FX trader, I have said many times that I don't trade on commodities so often.............by the way, I never hear Jim Rogers talking about NOK.....Jim Rogers is holding Yen now.........I trade on FX by my own prediction.......
I am a big fan of Jim Rogers, I believe his long term prediction.....and I think he is a very honesty investor and commentator........he always revealed his positions on the market.....

asad, I don't know how is your prediction.....but I have been reading your complain about market doesn't trade on fundamental for so many times........why not just take long term break and wait for the next 6 months, if you don't believe this rally and don't want to join with this rally........

chloethebull
I think USD will rally a little bit as profits taking......but I don't know when.......recently, I didn't watch the market so often.......I short USD/NOK as long term strategy.........if the pare pull back from here, I will short more......good luck!!!

asad

London, UK

Posted Anonymously

15 years ago

Oct 15, 2009 1:15

Chloe,

I can understand that you make a loss...a bit more loss...but I just CAN'T understand WHY you'd CONTINUE to make it. If the position is against you...JUST LET GO!! This is why stops are SO important...because as humans, we'd NEVER close a position - both ways - in hope of recovering the loss or making further profits...and mostly end up losing both. Hence, getting out of losses and taking profits are both virtuous acts!

I shorted oil at 75.10 (currently at 75.86) but I have two sell orders in place (one each for two positions) in case my emotions take over me. Successful traders are devoid of emotions...and I recommend you follow suit.

I don't want to be cheeky...but now could be a good time to close the USD position? I'm sure you can cut it further down. USD dtill has some weakness until mid next week...

Asad

chloethebull

Posted Anonymously

15 years ago

Oct 15, 2009 0:56

ashraf or qin...if the usd bounces up could we see 1.0850 or has the drop been too large an were now in a new range1.00--1.0650..or less...tryn to figure out my exit points...alsocould the cad go beyond paridy..thanks again

chloethebull

Posted Anonymously

15 years ago

Oct 15, 2009 0:49

i won;t lie..im freakn outtttttt..lol..under water but im ok for now,,never thought we could fall this much this fast...an not looking good i think parity by end of next week or sooner,.. gs will have great results an im sure there will be a decline in inventorys tomor...all i ever wanted was to be short on usd but always ended up long lol..any1 eles out there holdn a long position usdcad..lol..ok gl to every1

asad

London, UK

Posted Anonymously

15 years ago

Oct 15, 2009 0:35

Qin,

It's funny that you and Jim Rogers came out from hiding the same day. :p

Btw, old JR reckons that gold and oil could hit $2300 and $200, respectively. You worship JR, don't you? What do you think of this?

Asad

Qin

Jonkoping, Sweden

Posts: 492

15 years ago

Oct 14, 2009 22:36

chloethebull, hope you are fine........good luck!

speculator

Posted Anonymously

15 years ago

Oct 14, 2009 20:11

Also, another point to make. Fundamentals do not always move the market. Look at the stock market rally since march. Is the extent of the rally fundamentally warranted? it certainly isnt on many value measures such as PE ratio.

So I would look at the dollar as a discounted currency based on its recent dumping. Can sentiment be any worse for the dollar?? Cant it be any better? the answer to that is 'sentiment can only improve for the dollar' the markets move on sentiment and herding behaviour. Who cares what it is really worth its what people are willing to pay. there cant be much worse news about the dollar and much of the damage has been done.

we are at the same juncture as in march when stocks hit bargain price and the masses were predicited S&P to hit below 500. So how many people caputured this rally in full?? not many at least not most fund manager as IT WAS NOT EXPECTED as 'things were looking very negative around stocks'

I will let you guys think about this debate................