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F Kong
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What can be said........I've largely taken the "road less travelled" the best part of my adult life, now clearly paying the price in winding up trading forex.
What can be said........I've largely taken the "road less travelled" the best part of my adult life, now clearly paying the price in winding up trading forex.

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Forex Trading – 05 October, 2013 

So what’s the significance of trading forex on October 05 2013?

Nothing really. Zip. Nada. Just another day of the week really ( all be it a Saturday ) but, I guess that’s the point really. It’s just another day.

When you take a step back and consider the actual “on the street” exchange rate of any two given currencies ( EUR / USD for example ) and their fluctuation during a “single given day of trading” you’ve really got to ask yourself…..

What can the movement of 9/10th’s of  a cent ( within a 24 hour period ) possibly suggest in any “fundamental sense”?

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Follow Forex Kong On Twitter - Real Time Wins

A really nice spike in the U.S dollar today ( considering I’ve been long for days now ) with several trades paying off well. As well (specifically) foreseen weakness in GBP coming to fruition here overnight. I invite anyone who isn’t already following on twitter or “the comments section” here at the blog to join/follow as there are lots of great info from other traders here as well.

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What Forex Kong Reads - Dr. Paul Roberts

If you think I might consider biting my tongue on occasion ( likely never gonna happen) I encourage you to not only read but BOOKMARK Dr. Roberts home page, as President Reagan appointed Dr. Roberts Assistant Secretary of the Treasury for Economic Policy, not to mention his time as associate editor and columnist for The Wall Street Journal.

I read Dr Paul Roberts.

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The American Ponzi To Continue

You see – as sad a state of affairs it is in the U.S ( domestically speaking ) the “global situation” has deteriorated far worse. The bond auction hall is empty (short of Ben and his “magic suit case”) and countries “planet wide” have been diversifying “out” of US Dollar reserves on a scale not seen before in the history of man.

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Forex Repositioning - Book Profits

It’s not looking good for “risk in general” – but of course “these days” markets celebrate when the U.S dodges bullets so….the outcome here “could just as easily” go either way right?

The uncertainty surrounding this shut down / debt ceiling talks etc leading up to Oct 17th is beyond and kind of standard “market analysis”, but I’m leaning towards “the longer this goes on – the worse it’s gonna get”.

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Short Humanity - Long Interplanetary Travel

If you haven’t ripped most of the hair from your head “yet” today…..there’s still plenty of time left. Hey! I hear that we even get a chance to see “OBomba” on the T.V! But of course we do as…..you just can’t have a couple “down days in row” without the President of the United States getting out there and sticking his nose in it. Ridiculous.

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Forex and Stock Trading October - Gold and Bonds Too

What happens “in the middle” under the current market conditions is exactly what is “supposed to happen” when a significant turn / area has been reached. Confusion , indecision , sideways , churn , chop , grind. Call it what you want – it’s “by design” that accounts get blasted, nerves stretch, blood pressures rise – and traders / investors are pushed to the limit.

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USD Trade - Watch Out For Your Face

As most traders don’t truly understand the larger “macro” reasons as to why the U.S Dollar “rises” when things look to be at their worst….this is most certainly the case. Every penny that has been invested in assets / converted to other currencies in emerging markets ( as to make larger returns / gains ) comes flooding back into USD on the “slightest indication” that the party is over.

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Get Short The Great British Pound - GBP

Fueled by talk of a “possible rate hike” out of the U.K coming “before” any kind of hike in the U.S, the currency pair GBP/USD has skyrocketed in “price” – yet floundered with respect to “strength”.

Coupled with the over all weakness in USD over the past few days, the combination of factors has pushed the pound ( guess where?) yup!  Right into a long-term area of overhead resistance.

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Pro Currency Trading - Everything is Relative

When trading Forex one has to keep in mind – everything is relative.

Weakness in a particular currency is only “seen” when that currency is compared / traded against another “specific currency” where the “relative” difference / change in value can be compared.

Hence the reason why forex is always traded in “pairs”.
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