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Let me for a minute play the devil's advocate here. As Soros used to say, Chinese were providing floor under EURO and when it breached 1.20 last year, they ramped up buying and now also every now and they come and buy euro at lower levels. Now, they have got another powerful ally with them -...

Hongkong has maintained its band of 7.75-7.80/5 (not remember correctly) against usd for more than a decade successfully. So every intervention by cbanks has not failed.

Swiss National Bank Sets Minimum Exchange Rate of 1.20 Against the Euro From bloomberg.com The Swiss central bank said it’s setting a minimum franc exchange rate of 1.20 against the euro and will defend the target with the “utmost determination” if needed. The Swiss National Bank...

hehe - i know man it hurts so much. These are the scenarios for which we need disaster stops. What do you think about Euro now ? Will you again short Euro at this level ? Secondly, what this means for E/CHF ? How will SNB make sure that it never falls below 1.20 ? Does it mean that SNB will...

DT-waw, seems from your words that you got caught wrong side. Personally, i lost 5% of my account - i had no position on swisse. This loss came from pure euro position and when i was able to cut it quickly at 1.415 - not knowing why the hell it started to move up so fast....so decided to cut...

Yes, this is the conclusion that I come to again and again whenever I think about actively trading any major currency against any other to express a view on global macro. Even though gold is at 1900$ and just last year it was at 1200$, with everything that is going on in the world, it seems it...

Shopster, Thanks for the interesting thread. I am following it. It seems that you have been trading for a long time and probably for a big bank. Can you tell us something more about yourself - will be very interested to know. How much profits do you make per month on average ? Cheers

Red Flag: Why is it so cheap when other data sources are so costly ? Does anyone know the reason? What about their data quality ? On a more basic level, does anyone know how this business of data capturing, organizing and re-selling it to others work ? Assuming any wannable vendor has to...

About the brit, I went long at 1.613 and covered at 1.616, for a technical bounce. Thanks

Lucias thanks for your comments. I agree with most of the things you have written. My thoughts are in line below. I honestly don't know. For ES surely, I don't have any ability. But for FX, I think my past experience of working while discipline suggest I am better than random in my...

I stated few goals in my first few pages of starting this journal. Time to review their position after more than a month of trading: 1. Actual DD of 82% - Plan was of max DD of 40% in 10 years. FAIL. 2. Account below 2000$ for 6 days - its almost like having another blowup. I claimed I...

Hello, Thanks for your suggestion. Can you pls explain what you mean by its a 'season' for the british pound ? Are you referring to some kind of seasonality pattern ? Also, what does GBP has to do with the labor day holiday ? Why do you think its set to take off? Thank for your interest...

Update for week 5 ending Sep 3, 2011 : Finally, 1st profitable week out of 5 weeks!! Closed my short euro position at 1.428. Other biggest trade of this week was shorting USDCHF for a quick 150$ scalp. Weekly Stats: 1. Week PL: +900$ 2. Start Equity: 1.6k 3. End Equity: 2.5k 4...

Did not post last week as account was below 2000$ with an open position (Short EURUSD) and I was very disappointed. Since now I am back above 2000, I will post week 4th and week 5th results. Update for week 4 ending Aug 27, 2011 : 4th consecutive losing week. Lost 600$ for the week - short...

My goal in that post was just to calm down tempers. Hard stats was not used to denote anything.

Oh, I didn't know that Nodoji's approach is similar to SCT. Well, to be honest - I don't even know what SCT stands for :) But I like nodoji's general points about higher highs, lower lows and very tight stops on some good setups. Definitely lots of value there. I try to play the markets in...

Holdon, what do you mean by 'chart size' ? Are you referring that you are trading high frequency sub minute/tick based charts and thats why you restrict yourself to 3 cars per trade, and additionally (and I am implying this) you trade a large number of times during the day ?

To Pekelo - Dear Pekelo, You are one of the few good contributors on ET and I completely agree with applying a bit of positive skepticism to things you read on web. However, the fact remains that Colyn is the only guy who got us some hard stats about JH's methods. So, lets not get too forceful...

Yes, I would have to agree that unless we have time to do significant research on gold miners, probably Gold ETF is a much better option. At least, by buying an ETF, we are not trying to beat a benchmark (which in itself is a v. hard thing to do long run). To Debaser, It seems that you are...

Good point. I remember having read it somewhere else also. If my memory serves me right, probably you yourself mentioned it in Paulson's context! I honestly don't know much about specific minors, also taking the idiosyncratic risk associated with miners, when gold is a much purer play is kind of...