Hello everyone,
I usually don’t feature other people’s trading videos on my blog but this one is just worth watching, so bear with me please.
I was just browsing through YouTube to see some commentaries and reactions from other traders upon yesterday’s 0.75% rates cut and I stumbled upon this gem. This poor man lost US$ 40,000 in two days by holding a position on the futures market over the weekend. Then the market crashed and all of a sudden his account was axed by an 80% in the blink of an eye…
I warn you in advance that it’s a pretty teeth-itching video to watch to be honest. It’s indeed a tough world out there…
Here is the original video as he was watching his account drop in real time like there was no tomorrow.
http://view.break.com/438322 - Watch more free videos
And here are his comments later on, once he had cooled off a little bit.
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Today Bernanke dropped the bomb of the year: a massive -and unannounced!- interest rate cut of 0.75%. It appears to me that the FED is reacting in panic to the recent nose-dive the equity markets are taking all around the globe. In fact, the problem is not that the Dow Jones has dropped a 15% in the last three month - the problem is that we might be facing a deep US recession at a structural level, and with today’s decision the FED has acknowledged it as an actual reality, or at least as an actual probability.
You can read more about it on this article featured by the Wall Street Journal.
As soon as the bomb was out I knew I couldn’t possibly take any trade today. There were a few decent setups out there, especially shorts on USDJPY and EURCHF, but the markets were too unsettled for a chicken trader like myself to meddle with them. You know guys, it’s not the best time to be positioned in the market right now.
-HECTOR-
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Hello everyone,
Right now it’s 10:30 am London time and I thought I should drop a quick message on the blog letting you know that I won’t be trading either today Friday nor next Monday. I am taking my lady for a four-day trip to Marrakech so the Euro can rocket to 1.50 or the USDJPY drop to 100.00 for all I care - I am going to be too busy eating cous-cous!
I’ll be back to my trading desk next Tuesday. Enjoy the weekend folks!
-HECTOR-
“Oh, the irony!” could have been a suitable title for this post. Two days ago I traded what it seemed to me an iron-solid setup and I had to exit out licking my wounds for -28 pips. Today, in the other hand, I spotted a rather scrappy setup that behaved beautifully from the beginning to the end! It was a range breakout in the direction of the Moving Averages on GBPCAD and it literally sailed north right away, reaching my +72 pip target within one hour and a half. It was a delight to see that thing climbing up all the way through!
As a general note I’d like to mention that I am seeing the market a little bit upset during the last few days, with some inconsistencies across the board. For example, GBPUSD has risen around 250 pips in the last three days wheras EURUSD has lost as much during the same period of time. That’s not really normal as those two crosses move synchronized about 80% of the time. Just a heads up…
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Hello folks,
Well, after two difficult trading days with sound losses on betting on CHF-shorts, today’s I’ve had a nice little quiet shift at my trading desk. Not because there was no decent setup worth my while but simply because all the trade plans I had written down on my notepad got mighty violated and thus locking me out of any possible trading opportunity.
So I don’t have much to show you guys today, but do let me show you at least the setups I had on my watch list. Enjoy!
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