I love all these mugs that think 1-2 months is a long time in the markets. You know the sort of guys that forecast the long term trend off what happened today or the the last few days..... The really big money in the markets has and always will be made with people with a multiyear view, hence gates and buffet have made billions by basically sitting on their core holdings and letting them fluctuate. Most idiots view the game as day to day and boast like fools when they manage to make a few points here and there. They also think that others must really be 'hurting' when a mkt moves against them by 5-10%. Have gold bulls taken a little beating in the last few months, yes. Do the ones that started buying 3-4 years ago care? No, why, because a) they've already got tremendous gains and b) a lot of them have taken a multi-year view and realise that in that sector stocks will often fluctuate wildly. Of course the other advantage about taking a long term view is that you can do many other things in business and not worry about some dickhead story like the plane in DC last week or start jumping up and down and frothing at the mouth before non-farms etc. Got to rush, Dollar/Yen has just broken a 5 min trendline AND the 3 min MACD looks like turning. OH MY GOD THINGS ARE GOING CRAZY RIGHT NOW!!!!!!!!!
Long term and short term work the same way. I can make money in 2 to 4-pip swings just like one can in 200 to 400-pip swings. But the blade cuts both ways cutting deeply and quickly. It doesn't make me a "mug" because I can scalp the forex on a 30-second chart. Long term may be decades as well. Warren and Bill just started playing in the forex (that we know of) a couple years ago. Whether in seconds, minutes, weeks, months, years or decades all the same market forces come into play and are viable. You can get wiped out just as badly in a multi-year trading structure as you can daytrading. If EUR/USD falls to the 0.6000s, Buffett, Gates and all others in the "long term investing" USD-bear category would look pretty stupid being carried out in a body bag just like guys do who trade a 15-minute time frame. My point is, as a forex trader you have to know how to trade. You have to know how to trade out of Hell. You can't just sit there like a mule on your "value investing" stock trading structure thinking everything will turn out alright because you have a 50-year game plan. s
Yeah, i´ve thought the same... But last night i put on a long position at 2610 - and i´ll be very happy if i can close at 2690 or so
You're right. I've always said, "those who hold euro will be burned." Then again, I am holding euro-longs. "Everyday I think about committing suicide." - Woody Allen Coinz
Skalpz, Assuming, as you have, that Buffett, Gates et al did not buy US Dollars at lower levels, all that means is that they are sitting with drawdowns in their accounts. Yes, they could get 'totally wiped out', but I feel more confident in their trading ability than yours. I also note that their timeframes (especially that of Mr Buffett) are significantly longer than yours.
Likewise I hope that non-American haters who traded based on their politics wake up and recognise the fundamental problems with the US Dollar ...
Oh really? How do you know what my time-frames are? I just got out of an 8-month EUR/USD short trade (that I had planned to only last several weeks, by the way) - but I didn't lose. And this new EUR/USD short trade I'm in... I'll be in it till Hell freezes over if I have to be, to win. I'll trade Buffett and Gates into the ground. Remember, there's more participants than just Bill and Warren in the forex. FXscalper90 (ID from MT)