Greek election can be compared with battle of Waterloo, the influence to market in London at time, and how Rothschild played out. History will be repeated here. Either way, G20 need some crisis to shows its importance, smoke and mirror, big show. No big position in trading account, only modest long equity in retirement account and physical pm.
I think the flight to "safety" continues vs major currencies. I posted when I went long up in the ACD thread. Europe is in big big trouble. Japan has Fukushima. There is really no where else to go. The dollar will continue to get stronger.
How rumors played out on last Thursday and Friday, we will see if those rumors are legit, or not. Big boy used mass media to manipulated market sentiment. It is just figuratively speaking.
I read the biography of the Rothschilds family. It is really quite an inspiring story. The gist of it was they were always committed to passing down more money to their children than they inherited. The one that cracked me up was the kid that was next in line to inherit England, and instead of investing the money he started buying dinasaur bones. They finally figured out he just wasn't cut out for business and set him up with a museum, which I guess today is quite prestigious.
So far, knock on wood, I have never had that problem. BTW, Ivanovich fought some fierce battles at ET. He was a great alt.
Btw, I was not sure about what you meant with your strat. If you are long eurusd, if you are trying to hedge would you not also be long usdchf? These two pairs are notorious for being almost 100% inversely correlated. Just asking.
maybe so, but I'm not in the mood to commit to any big move. I'm trading my chop strategy right now and probably will to the election. I'm cool as long as I don't get on the wrong side of a mega trend. I can survive with dx between 78 and 83. After that I have to start taking losses and committing.
that's why I say 90% of what I do is just money mangagement and standard classical trading that you can read about in many books, and 10% requires actually reading the market. It doesn't mean you have to guess right, but it can help. More importantly is understanding change. If you were one of those guys who didn't like rap and didn't understand it, you are probably never going to make it in trading. This is the golden age of forex. I don't know how long it will last, but it sure is good while it is going. Everyday there is an opportunity. It's like being in America in 1880. And for the most part it is unregulated. Nobody can get nailed for insider trading in forex. Big banks and I mean really big banks, like the Bank of Japan, can just dump trillions of yen on the market at any time without notice. (of course, a trillion yen doesn't amount to much, but you get what I mean.) And everybody has an opinion on the dollar, because almost every American owns one. And even presidential candidates are talking gold vs USD. So, if you're looking for something with tremendous retail interest, forex reminds me of how the stock market use to be.