What's your view/opinion on today's market movements?

[Pharaoh]

It's ironic, and downright ridiculous, that the vast majority of Crimean people are happy to rejoin Russia and to become Russian citizens....while it's the Western "democratic" Countries & the US who are unhappy about that. Isn't democracy about the wishes of the majority....and freedom of choice??

If the Crimean people are truly happy with their choice, then I'm happy for them. I'd just be a LOT more comfortable with the level of democracy that this vote represents if the vote had taken place under the supervision of UN observers instead of while the area had Russian troops in it. There also needs to be a careful consideration of what options are going to made available to those people currently inside Crimea who voted to remain with the Ukraine.

 

[RahmanSL]

As mentioned, I have already requested for and receive two withdrawals from my broker ICM.

This week, I am on a much smaller trading account and yesterday Monday, I managed a modest 2.61% gain over total account balance.
However, I am still very much stuck on AUD/JPY and AUD/CHF...all on shorts which cost me daily negative swaps.

I know I should have take the losses and close out these positions, BUT since I am "playing" mostly with profit money now, I will let the positions ride until the Aussie dollar weakens and my open trades go into some profits, in which case I will close them out pronto.....OR the account go into possible margin call and account wipe out.

But if it's the later scenario, I will probably take some losses and salvage whatever money is left in the account and start all over again.
C'est la Vie!

 

[dkami]

Hmmmm looks like AU hit my D1 resistance to the pip today with a bit of a bounce down so you may get lucky and get out of your AUD shorts yet RahmanSL

Think my fishing pic won't upload as it's in JPG and not jpg


O no must of been to big just resized it

 

[RahmanSL]

Sometimes we just have to let the "locals" to solve their own problems as we, the "more democratic" ones tend to mess & screw up their problem.
Anywhere, there don't seems to be many collateral casualties as has happened in most "civil wars" (like most recent ones like Egypt & Syria) and so I guess the Crimean should come out okay.

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You sure got a lot of juvenile barracuda, but some fair size snappers (1.2kg range?) ...
The barracuda, once fillet, battered and deep fried, taste heavenly.....and you can cook the snapper just about any style to taste great .
In fact, all freshly caught fish taste fantastic. I once had some fish taken straight from my floating fish cages and into the frying pan and some of my dinner guest enquire whether I added sugar to cook the fish cause it does taste that sweet

==========================

I do hope your analysis on the AUD come true cause, while I was out, my account went into margin call and some positions were forced closed out and the account suffered a -60.40% draw down .......but AUD has dropped down somewhat and the account is now in relatively safe territory...but not out of the woods yet.
Anywhere, I think I will just leave the account to its fate and, next week (or earlier), will refinance it with some "spare cash" that I am expecting.
The problem with me is that I lose interest in the account the moment I have made some bad mistakes and the account suffer losses.
Maybe I should simply close out most or all of the losing positions and leave the account with whatever balance remaining (under AUD1.5k) and start anew with new deposit...hmmmm....but that's admitting defeat and, also, I am curious to see what will happen if I simply leave the account alone as it is.
Maybe the AUD will fall and my account will pull through

 

[dkami]

Anyone jumping in long on gold?

I'm long @ 50fib ($1287.25) retrace on W1 and will take another buy @ 61.8 and 78.6 1st targeting $1392 with SL below low ($1182.43)

I suspect could get a bounce from here as H4 in oversold then another leg down giving bullish divergence on D1 which is when I will really start to load up

this is a W1 trade for me so could take some time to play out

Sive given some nice analysis on gold which I agree with as well(Sive explains it much better than I care too)

 

[RahmanSL]

I would love to jump in on "buy" gold, but that would be committing hara-kiri as I don't think my account can sustain any more mistakes.

As it is, I am too heavily committed into AUD/JPY shorts, but I believe I have two good things going for me.
The first one is the RBA wishing for a weaker AUD, and the other is the Japanese needing a stronger Yen to pay for imports of essentials (especially fuel for their power plants). As a commentator over at CNBC remarked, the Japanese are more used to prices going down, but with the 3% GST increase starting today, prices in Japan will go up and that would make a lot of Japanese very unhappy.

Anywhere, good luck with your gold ....though personally, if given a choice, I would prefer to buy silver since it's used in both the jewelry & industry sectors

 

[dkami]

Yea there actually snook but very similar to barracuda I think there in the same family

Yes like I said I was very suspicious as price didn't hit my resistance but like in pic did today to the pip and got the initial bounce which on D1 I aim for 50pips


I didn't scalp short off D1 resistance for simple reason I don't like shorting AUD

Anyway I still don't have any signal's on AU as it's still playing out(the buy trade from some time back that I mist)

 

[dkami]

Yea AUDJPY and AUDCHF I still have long positions on but will be watching for pullback to get out then load up again as I think they have got more to go in following mths especially AUDJPY as the japs took the playbook from the janks and Aust. gov. won't intervene in ccy market,we just take it on the chin

Also I won't be surprised if we get a rate hike 3-6mths which is possibly getting priced in

 

[RahmanSL]

Yap, its not good idea to scalp short on AUD unless, maybe, when it's in the 1.10 levels cause those levels will make the RBA to **** bricks trying to hammer it down


Anywhere, I will try my hardest not to ever take AUD shorts when trading my new re-started account next week....bitter lessons which should have been learned many times, but still stubborn as a mule

 

[ilearn2t]

Hello RahmanSL

I know you better than that, and despite your stubbornness, you will always have that trader instinct to take that chance if or when it comes, regardless the price, maybe a trip back to the drawing-board for a "money-management" workout more often, during breaks in trading.

Good luck
Liz