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Today’s coffee thought

by Gav Leave a Comment

A lady from Shanghai office was complaining to me. She has been working hard and save but, yet, still unable to buy a small apartment back in Shanghai, China. According to her ‘source of information’, there will be a second round of price hike, inflation after Beijing Olympic game.

I can’t solve the housing affordability problem for her.Her question to me was “which currency should I buy now” (what she meant was, which currency is worth buying now, she sees Chinese Yuan (CNY) is going to depreciate soon for some reasons). I did not have a quick solution for her. I first response was GOLD.

“But Gold is expensive now, how about USD?”
“Dollar is in trouble and weak, I am not into it, and there is no clear positive perspective of the American economy”
“But, it has been depreciating for so long, it should be bottomed now”
“……”

We read or hear this kinda conversation again and again. Inside our mind, we are afraid of high, and we like to bottom fish. How many times have we made our investment/trading decision based on the feel and fear of high?

Did you ‘feel’ Dollar was cheap a year a ago? Did you ‘feel’ GOLD was expensive a year ago?

Think……

Filed Under: Trading Lessons Tagged With: coffee thought, trading lesson

Reader Interactions

Comments

  1. Tom says

    at 1:52 am

    TG: You know my perspective on GOLD! Buying it like its going out of style as a means of savings.

    PS: I’m long AUDUSD and EURUSD too.

    Reply
    • Gav says

      at 1:34 pm

      Good job on Euro trade. Aussie dollar, hope it stays above 0.97 convincingly. Btw, I am long Aussie as well.

      Reply
  2. Tom says

    at 12:52 pm

    TG: You know my perspective on GOLD! Buying it like its going out of style as a means of savings.

    PS: I’m long AUDUSD and EURUSD too.

    Reply
    • Gav says

      at 12:34 am

      Good job on Euro trade. Aussie dollar, hope it stays above 0.97 convincingly. Btw, I am long Aussie as well.

      Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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