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I just finished reading Trade Your Way To Financial Freedom by Van K. Tharp. Great read, and it really opened my eyes to several mistakes I am making in my trading – which is why my account is left open to so many major losses. This is dangerous when trading with limited capital, as I […]
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss Market Value 11/12/07 Long 2 DEC 07 Australian Dlr 0.8795 0.8804 $180.00 11/16/07 Long 1 DEC 07 Australian Dlr 0.8850 0.8804 ($460.00) 11/01/07 Long 2 DEC 07 Australian Dlr 0.9135 0.8804 ($6,620.00) 11/09/07 Long 1 DEC 07 Australian Dlr 0.9138 0.8804 ($3,340.00) 11/09/07 […]
It’s a fool’s game to try and pick the exact moment of the turnaround. I prefer to stay on the sidelines right now until the gold correction is through. If you believe it is still a bull market in gold, there will be plenty of money to be made on the next upswing. If gold […]
Man I love this guy. “If you have dollars, I urge you to get out,” Rogers said in an interview from Singapore. He is chairman of New York-based Rogers Holdings, formerly known as Beeland Interests Inc. “That’s not a currency to own.” Full article
In case you missed it, the Aussie $ got trashed during Monday’s dollar rally and carry trade unwinding. It was off about 4% on the day – ouch! I personally had to scale back some other positions in order to stay liquid through it. Was something I’ve been meaning to do anyway – needed to […]
Story of last week for me was the carry trades unwinding. With the stock markets getting slammed, traders and investors are running away from risk. When that happens, the carry trade unwinds fast and furious. The Swiss Franc and the Yen, the two currencies that are borrowed for the carry trade, both rallied strong on […]
Shed about 3K this week, mostly because of coffee. Damn rain in Brazil is killing me. Anyway a few new entries and old friends revisited: * The gold contracts were added when Bernanke dropped his pants. Gold broke the important $800 mark and is showing no signs of slowing down. Still a decent entry point […]
Well, just bought my gold contracts back again. It’s open season on the dollar – everyone take your shots! For those just tuning in – the Fed cut rates another 0.25. Inflation, here we come!
The long term outlook for gold looks quite promising. First, from Agora Financial’s 5 Min. Forecast: Open interest in NYMEX’s (COMEX) gold futures contracts breached an all-time high of 500,000 this week. Never have so many traders been betting for — or against — gold than right now. So… you might ask… where’s the smart […]
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