Here is another position established. I went long USDCAD…Time to go for dinner, so no full analysis (or bullshit).
Here is the statistics:
[photopress:usdcad_trend.jpg,full,1]
Here is the … CHART!
[photopress:usdcad.gif,full,1]
Here is another position established. I went long USDCAD…Time to go for dinner, so no full analysis (or bullshit).
Here is the statistics:
[photopress:usdcad_trend.jpg,full,1]
Here is the … CHART!
[photopress:usdcad.gif,full,1]
OK, I established short position of USDJPY. I don’t have energy to write up a full analysis. Basically, my strategy calls it a short, so I go short. Let’s see how it works out.
Here is the statistics
[photopress:usdjpy_trend.jpg,full,1]
and here is the …..CHART!
[photopress:usdjpy.gif,full,1]
It is almost end of Spring in Australia, but , as usual, we have the luxury of enjoying 16-ish degree Celsius in Melbourne most of the time. I always think Melbourne is a great place for trader, it just keeps you cool most of the time :). I am sitting in front of my workstation preparing next week’s trading.
I have a couple of friends from Singapore and India asking me about what should they do or when is the right time to go into the market. Obviously, most of people think that the meltdown presents a huge opportunity of life time to invest or should I say, speculate.
I have no answer. I have not established any new mid to long term stock position for months. Timid, well, maybe. I am just not feeling comfortable right now. So, my suggestion to them is to wait for the financial sector to settle down, and cash is king. At least, do not invest any penny into any company. Tomorrow you might hear this company is waiting for bail out 😆 Of course, this is personal opinion.
I am still speculating in currencies, but investment in shares/stocks? Leave me alone,mate 🙂
It has been a very busy and wonderful two-week. After seeing off my families back to Malaysia, I am back to my trading desk. I hope to start some tradings soon.
It is very interesting to know how the retail business people from south east asia (particularly from Indonesia, Malaysia and Singapore) view Australia dollar. They are bullish. For medium to long term , I guess. At the moment, in both Malaysia and Singapore, most probably you can’t buy Australian dollar from retail money changer on the spot. Instead, you’ve to pre-order, and collect it later. People are rushing to buy the Aussie. Supply is short. In fact, my sister was not able to find any Aussie dollar prior coming to Melbourne. This is interesting, isn’t it?
Of course, this is not enough to create a bullish view of Aussie dollar just yet. In fact, it shows that most of retail traders/investors might still live in the old Aussie dream. This is not a simple correction, this is a pretty serious damage of Australian dollar trend. It might take awhile before their ‘investment’ takes off again. Let’s see how it goes.
by Gav 22 Comments
In case you are wondering where is Trader Gav. I was, and I am extremely busy for these weeks. Virtry and I just got married! We held our wedding in St. Ambrose Catholic church, Brunswick, a suburb of Melbourne Australia.
Here is our Wedding Candle….
[photopress:IMG_0296.gif,full,1]
H/T to Kathy Lien
Other than Chinese Yuan and Japanese Yen, almost all currencies are beaten by the rising Dollar.
[photopress:ftusd.jpg,full,1]