AdamFx42のブログ

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Crash landing in the contest

After a great start I am back down below starting capital
Putting all my faith and capital into the NZ rate cut proved to be the wrong decision
Blinded by the will to win I forgot the most important rule:
Only trade when you see a trade
I am back down to 70K now
and the rest of the month I will try to protect this capital,
keeping my yearly avarage in mind
My trades will be based on technical and fundamental direction,
and will be safer - I will not risk it all again this month
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A few more trading opportunities emerging

I have found a couple more interesting pairs I might trade
Doing the technical analysis is about half the work
The other half is sitting out the trade - this can be a problem sometimes
You can see in my contest profile I went short GbpUsd and short GbpAud at higher levels last evening
I should have let these run- the profit would have been around 60K
The problem was not the analysis - I did my technical analysis, and I was happy about it
The problem was it was night and I had to sleep - and I do…
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Planning for the week ahead

In the coming week of the competition I will be prepared
The first part of the contest - the initial week - is always the most difficult for me,
that is past now
I try to make as much as possible, but the risk to my account is high
In the coming week i will be looking at the technical analysis of the major pairs
and trying to combine opportunities to trade with underlying fundamentals
i.e. if a pair is - for example - fundamentally weak, like say the Aud
and a technical resistance is in place - …
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The ECB aftermath - whereto now?

The interest rate cut and the proposed measures by the ECB yesterday
brought the euro down a bit more, as expected by most traders
(most of the price was already priced in well before the actual decision)
what is interesting, though, is the sharp bounce back up
after the smoke had cleared
putting in a huge bullish engulfing candle on the 4hr chart on Eur/Usd
In the longer term the measures are there to help the eurozone
and while we may see the eur struggling at these levels for a while,
in the …
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Strange reaction on the markets after strong NFP data

After the strong NFP data release for the US on Friday we saw Usd/Jpy shoot up at first
then what looked like a retracement - but the pair would not hold above resistance at 102.7,
as a matter of fact it gave back all gains rather quickly
It would seem that at the moment traders confidence in the greenback is low,
and it looks like the currency is weak at the moment -
or is something else afoot?
We also see a possible high in place at 1.692 in Gbp/Usd
and Eur/Usd seems unwilling to break back ab…
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Daytrader21 avatar
Daytrader21 2014年05月04日

I wrote an blog post right before NFP announcement resting my case for further dollar weakness no matter how good the job numbers would be. I've been looking recently through some data which suggest that US capital flow on the 3 month basis has turned negative and until capital will shift we can expect further dollar weakness.

AdamFx42 avatar
AdamFx42 2014年05月04日

That sounds about right - I see Usd/Jpy down to 100 before too long

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