TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

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What type of blogger am I?

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What type of blogger am I?  According to Typealyzer :

I am ESTJ – The Guardians

[photopress:estj.jpg,full,1]

The organizing and efficient type. They are especially attuned to setting goals and managing available resources to get the job done. Once they´ve made up their mind on something, it can be quite difficult to convince otherwise. They listen to hard facts and can have a hard time accepting new or innovative ways of doing things.

The Guardians are often happy working in highly structured work environments where everyone knows the rules of the job. They respect authority and are loyal team players.

H/T to Riz din

Real advice for Long TERM investment

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I was reading this on news.com.au. This article…is kinda..dodgy to me.

Should I sell or hold?

Generally the experts recommend that it is better to hold and sit it out.

If you sell your shares or investment in most cases you will be triggering a real loss.

Remember, at the moment it is only a paper loss and you have not physically lost anything yet.

If you sell, as well as making a real loss you then have to find somewhere else to put your money.
……
This could mean you not only triggered a loss when you sold but you might also miss out on the share price rebound and have to buy in at higher prices.

Full crap here

Well, what do you think about this piece of ‘advice’? I thought it was “awesome”… :lol:.

The real advice the author is trying to say is…in plain english…. Just keep holding your losses, just keep holding..For long term, share market will be going up. Just keep holding …uhm..yeah, just keep holding…uhm…

Quotes from Ken Jakubzak’s interview

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I have been busy with my day job and struggling to have sometime in finalizing my trading system. That explains why posting has been lagging. Anyway, I hope I can get back on track soon.

In the August version of Currency Trader magazine, Ken Jakubzak was interviewed. There are a couple of points which I pretty much agree with him..

it was a major shift for the currencies.They don’t trend like they did in the 1980s and early 1990s.Look at the overall trend of the Euro (Figure 2). It hit a bottom of roughly .8600 in 2001 and now it trades at 1.5600 (as of July 7). That’s a move of 60 handles (one handle = 100 points, or pips). But it took seven years to get there.

If you want to say that’s a long-term trend, then good luck trading it. In December 2004, the Euro hit a high of 1.3660 and then dropped to 1.200 a year later. That’s a drop of 16 handles (1,600 points). Do you want to ride that down?

My point is that there are no long-term trends in the currencies anymore. They may go up 10 to 12 handles, but they will also drop almost as far. You can make some money using a trend-following approach in currencies, but you’re not going to find big trades like you can in grains or crude. Also, 90 percent of all trades are losers. The other 10 percent should make your year and if they don’t, then you’re going to lose big. It’s very difficult to trade that way.

Full article can be found here

Driver losing control..

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RBA bashes the banks

THE Reserve Bank has partly blamed Australia’s private banks for creating conditions that risk pushing the nation into a “deeper and more persistent slowdown”.

The central bank’s board also seriously considered cutting interest rates when it met on August 5, according to minutes of the meeting released yesterday.

At the meeting, board members expressed concern that financial conditions in Australia were “clearly quite tight, and effectively getting tighter”.

The August meeting minutes confirm that board members were worried that conditions had been tightened too far, “given there had been a significant change in borrowing behaviour, confidence was weaker, asset prices had declined and slower overall growth was in prospect”.

The minutes also indicate that there was debate on whether to cut interest rates immediately.

The minutes signal that the Reserve board intends to start cutting rates next month. They say that without less restrictive conditions “the risk of a deeper and more persistent slowing in the economy would increase”.

Full article here

Clear signal of rate cut? RBA had been working on slowing down Aussie economy in which they believed was the way to fight inflation. Now, the driver seems to be losing control of his vehicle…who to blame?

What’s wrong with these people? ‘Westerners’

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I don’t normally post non-trading stuff here. But recent reports , particularly in Australian medias are just so annoying. Full of craps.

More ceremony fakes unearthed

Stephen Hutcheon | August 15, 2008 – 12:08PM

The Olympic opening ceremony featured faked fireworks, a fake singer who lip synced to another girl’s voice and now it appears that the children appearing in costumes representing China’s 55 minority groups were also fakes.

Full bullshit here

The only fact  is, western medias, yes, Australian, you are one of them, trying their extremely best to dig everything, anything bad, negative about China, about Beijing Olympics.

The fact is, China presents one of the greatest opening ceremony ever and great games, great people to the world. That’s the whole point. Look at the opening ceremony, the effort, the hard work, and the performance, it is almost second to nothing. I’ve almost forgotten about other Olympics, Atlanta? Sydney? how about you? Oh Yes, I still love the Barcelona opening, that’s awesome.

Man, you are missing the point, you are blind.

I am sorry, but Trader Gav feels really pissed by these reports.