forget it, it will drive you nuts trying to predict. The fed could step in with something out of left field or the plummet could continue. I vote.............out of this currency.
US Dollar
- Thread starter TM1982
- Start date
I am in the aussie lightly, ready to exit at the first sign of trouble in gold or dollar strength.
Unfortunately, on this one I have no gut feel at all... any more than I have a gut feel on the S&P at the moment, because they are related. Both of those could go either way into the end of the year. I actually tend to not make predictions that last more than a few days in most cases... longer term stuff is a lot harder to predict in such a manipulated environment. As for trading, I only trade what is going to happen over the course of the next few minutes... it really saves me a lot of headaches because I never have to worry about stuff like this.
Quote from FB123:
Unfortunately, on this one I have no gut feel at all... any more than I have a gut feel on the S&P at the moment, because they are related. Both of those could go either way into the end of the year. I actually tend to not make predictions that last more than a few days in most cases... longer term stuff is a lot harder to predict in such a manipulated environment. As for trading, I only trade what is going to happen over the course of the next few minutes... it really saves me a lot of headaches because I never have to worry about stuff like this.
Gotcha, but I don't think one can trade against one's base currency and survive over the long term. IMO, and this is just my opinion, it's more prudent to find a safe haven to protect against the fall of the USD and just forget it. Monitor where you put those converted dollars of course but I don't want to have to worry about the continual fluctuations in exchange rates.
be careful
I lost my faith in USD and converted everything in my trading account into CAD 2 years ago when it was 1:1
when it went to 0.9 and I thought I was so right to move from USD
but then it went to 1.3 from 1 in just 1 month
I'm still in CAD. But I lost my faith in them too. Peak oil is not so real and canadian government is corrupt
I think it will stop at 1:1 again
so now I just sell calls every month for Cad futures to go short at 1:1
I lost my faith in USD and converted everything in my trading account into CAD 2 years ago when it was 1:1
when it went to 0.9 and I thought I was so right to move from USD
but then it went to 1.3 from 1 in just 1 month
I'm still in CAD. But I lost my faith in them too. Peak oil is not so real and canadian government is corrupt
I think it will stop at 1:1 again
so now I just sell calls every month for Cad futures to go short at 1:1
1:1 is likely by year end. Not sure why you think the Canadian government is corrupt though? (any more than any other government that is).
Government has stated they want USD/CAD to appreciate, but will not intervene should that not be the case. Short USD/CAD doesn't look like too bad of a play right now.
I mean in my opinion they are on the same level as US
ANd I don't really see how with 70$ oil C$ could be higher than 1:1
Government runs huge deficits, bank of Canada constantly wants to start QE
in the same time real estate bubble currently probably worse than in US and will probably pop in 1-2 years and canadian government explicitly guaranties majority of loans
and by the way current head of Bank of Canada - former goldman employee which doesn't give any optimism either