Thank you Dear Sive,
Have studied next weeks Plan and adjusted my trading accordingly.
I wanted to also ask that with December upon us when would you trade up to date wise please? as most of big guns start slowing for the Christmas holidays.
Thank you have as always a lovely weekend.
Asif
Thank Sive,
I have the same question as Asif.
What is your advice with regards to trading around/during the Holidays ?
Kind regards, BackSpace
Hi Guys,
well, it could be a bit different from one year to another, but most lack of activity comes, as you probably know, 25 december-01 january. Although financial year in many countries as in corporations very often ends at November 30, the activity decreasing from 1-25 december is not so significant. I suspect that summer is more deadly period, especially August, than December.
Taking into account current EU situation and reaching of US debt ceiling in 20s of December - investors will work to safe their money despite either they want or not.
and what about this news? if Soros doesn't believe it, then maybe ...
'Investor George Soros's family fund bought about $2bn of European bonds formerly owned by MF Global Holdings.... Soros' Italian-debt purchase is significant because it indicates that an investor considered to be one of the world's savviest has confidence that the country won't default on its debts, at least by the time these bonds mature in December 2012.
It is also something of a wager that a wider collapse of euro-zone finances will be averted. Italy has emerged as the centre of the financial storm engulfing Europe because, following bailouts of Greece and other nations, Italy is widely considered too big to save should it run out of funds to service its debts, though some on Wall Street view pessimism surrounding the country's finances as overdone.'
source: Corzine's loss may be Soros's gain
Hi Triantus,
Currently Europe, especially its population, that always lives very well - worthy and propsperous has to feed so called problem countries, or second-wave countries. As problem countries I mean those that have joined to previous ECU zone - Let's call it "old EU". Citizens of Germany, France and others propserious countries are not very fascinating that there taxes come abroad to support other countries. So that their prosperity now works on other people. This is well-known story.
If EU will fail - this will not be total break. They will return to "old EU". Italy is a 3d economy of EU, and 8th in the world - they will safe it anyway. They could leave Greece, Portugal, all Eastern Europe, but they definitely safe Spain and Italy.
Soros also knows it. So, his investments are very good, especially if he bought this bonds at current yield levels.
Sive,
Thank you for sharing your expertise with us! Originally, I traded forex in 2003, and blew out my account (as did my friends) on faulty advice from "experts" whose seminars showed audiences how to use one small piece of technical analysis, and use that to "get rich quick". I decided to try Forex again, only this time with a very disciplined mind set, and test the advice from experts before going live. Long story short, your advice is "Golden"! After spending a number of months with practice accounts, I am now using a small ($1000) account, which I doubled in 5 weeks. You are the first source I go to when plannning my trading strategies for the day /week. I am very grateful!
In appreciation.
Ron
Hi Ron,
I'm glad that this was useful for you - that is what we're working here for.
good point. i read that book too and would encourage anyone who is struggling to get a hold of it and process the info therein, meaning read and re-read it. it's basic psychology but it's KEY.
even so, risk management and understanding proper leverage is the other key. now when i see brokers offering up to 500:1 leverage with only USD 1,000 minimum in the beginner trader's account, i understand how wrong i was to get excited by such offers. that kind of leverage with only USD 1,000 is suicide. anyway, probably all the regulars on this forum know that. but if you are a newbie, try to understand it and you'll save yourselves a lot of pain.
anyways... good luck all.
By the way - there will be charter in Forex Military School, dedicated to this stuff. For example, there will be some interesting approaches how to estimate minimum required assets from volatility point of view. How to use leverage and to control them.
May be you know all this material, since there we will give just absolutely neccesary information. But after study it any could start to trade reasonably and avoid fiscal catastrophe.
