Archive for January, 2007
Euro To Turn Higher Again!
By Marek W. Stupka | January 31, 2007
n 2006 we have witnessed how greenback felt sharply against its most feared competitor - the Euro. The question of many traders today is - what’ next?!!
Last week, I got a chance to read a very interesting financial report by a credited commercial bank claiming that the Euro rally from the previous year is about to “temporarily stablize” over the course of 2007. The bank’s analysts honestly believe that the distinct, upwards move of the EURUSD currency pair is over now, and that the dollar is about to consolidate, if not strenghten, in the weeks and months to come.
I don’t want to sound like a poor judge, or like an anti-American prophet, but I just can’t help myself here. You probably know about me by now that I am a good friend of Technical Analysis, and I tend to base my trades on technicals rather than on fundamentals in vast number of times.
Now, even if I ignored the poor macroeconomy results published for the USA over the last couple of months, I would still have to invalidate every single technical strategy I know of to actually take a short EURUSD trade right now. Just look at the weekly chart below.
Look at what the Slow Stochastics does now - it posts a dovish crossover at the 20 level of the indicator! And the MACD Histogram - it is making an upturn! The KAMA Binary posts a temporary correction to the 0 level, which is just about to end now. Or, if you still don’t believe me, look at the position of the pair’s candles vis-a-vis the Parabolic SAR. The lines are about to cross! I don’t know how about you, but I would say this pair is as ripe for picking from the floor as are the red, fallen September apples in my grandmum’s garden!
Yet another sign. Look at the simplified trend line analysis. The green line (plot across the red trannel) is just about to be crossed by price from below!
Once this happens, it will be an undisputable sign that the referential FOREX pair is just making another dovish turn. And it will also mean a chance for the long-term traders to open their positions, and enter yet another high-probability trade.
[ Nota Bene: Presented above is just a very simplified Technical Analysis. If you would like to get access to in-depth, periodically updated trading and charting information, as well as comprehensive trading lessons, assignments and even concrete FX trading signals, you are welcome to apply for the 1-on-1 Training course. Then, I will dedicate my time in teaching you everything you need to know about trading with consistent profits... ]
Topics: FOREX Trading Analysis | No Comments »
Happy New Year 2007!
By Marek W. Stupka | January 9, 2007
Traders LOVE to entertain, and be entertained. It’s sort of an unwritten rule with 99% of traders I’ve met. We just like to party - since we cherish freedom!!
Champaigne, celebrations, and lots of FUN… If, during the NYE holiday, you too have found yourself indulged in these (and probably many more) “earthly pleasures”, there’s no need to worry. You have just shown symptoms of a typical trader.
Yes, it is true, most of the traders I ever talked to gave gotten into trading because they wanted more freedom. Now, I don’t know how about you, but when we analyze our charts and talk about taking our trades at Gepard Investments, Inc., we activate our every braincell, and every damn bit of our attention goes to the trading stuff…
And so, you see, we trade our way out to our freedom. But it’s not always as easy as it might seem. Here’s a good one - you have to hear it: lately, I’ve got a phonecall from an old friend who’s been out of the country for 9 long years. When he returned, he was told that along with a team of traders I’ve been trading currencies professionaly for many years now. He was quite excited about the news, and so he quickly searched for my number and asked me over the phone if trading really is what he’d heard back in Florida (where he just came from) - t.m. playing wild computer games, and get even wilder paychecks!
“Yes, my old friend”, I said to him, “that’s exactly what it’s about. There’s only two catchers to the issue: #1. You have know HOW to play first, and #2. You can’t get your fingers OFF THE JOYSTICK while you play.
In other words, we just can’t afford taking A SINGLE TRADE without making a proper prep work first. We have to stay responsible for our trading, that is if we want to stay responsible for our money ( and the money we manage for others).
And so, along with other active traders around the world, anytime we at GI get a chance to have a break from trading, we just enjoy the moments the best we can.
Hope you’ve had yourself a happy New Year’s jag time…
Anyways, get ready! The new trading year is here! And it seems that 2007 has a LOT in store for currency traders. We will definitely not have time to get bored.
Topics: Lifestyle Of A Trader | No Comments »