Iran Assume the Presidency of OPEC
October 14, 2010 Update
Mr. Masoud Mir-Kazemi, minister of Iranian Petroleum will become the president of OPEC on January 1, 2011. As most of you are aware OPEC stands for Organization of the Petroleum Exporting Countries which make up of twelve countries Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, and Venezuela. We are all familiar with the term “drug cartel” and OPEC is the “oil cartel”. OPEC nations own more than 60% of world’s oil reserves, and account for more than 30% of world’s old production. This allowed them to wield considerable control over the price of oil in the global market. Thanks to the discovery and development of large oil reserves in Alaska, North Sea, Canada, Gulf of Mexico, and Russia, OPEC’s ability to control the price of oil has weaken but they still can influence the oil price by setting their daily oil production target.
One day maybe there are enough users of my five trading systems that we can form a “Forex Cartel”. Jasmine automated trading system has been performing extremely well; hence, more followers will come onboard to use our trading systems. Currently, Jasmine net profit stands at $6,841 (68% return) or 6,841 pips in less than 5 months. Will this perform continue to last month over month? Not a chance but let appreciate the moment and enjoy the ride. Jasmine has three open trades: 1 EURUSD buy trade and 2 EURUSD sell trades for a floating profit of +104 pips, see attached chart.
Look for our mid month performance report for tomorrow. Cheers.
October 14, 2010 Update
Mr. Masoud Mir-Kazemi, minister of Iranian Petroleum will become the president of OPEC on January 1, 2011. As most of you are aware OPEC stands for Organization of the Petroleum Exporting Countries which make up of twelve countries Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, UAE, and Venezuela. We are all familiar with the term “drug cartel” and OPEC is the “oil cartel”. OPEC nations own more than 60% of world’s oil reserves, and account for more than 30% of world’s old production. This allowed them to wield considerable control over the price of oil in the global market. Thanks to the discovery and development of large oil reserves in Alaska, North Sea, Canada, Gulf of Mexico, and Russia, OPEC’s ability to control the price of oil has weaken but they still can influence the oil price by setting their daily oil production target.
One day maybe there are enough users of my five trading systems that we can form a “Forex Cartel”. Jasmine automated trading system has been performing extremely well; hence, more followers will come onboard to use our trading systems. Currently, Jasmine net profit stands at $6,841 (68% return) or 6,841 pips in less than 5 months. Will this perform continue to last month over month? Not a chance but let appreciate the moment and enjoy the ride. Jasmine has three open trades: 1 EURUSD buy trade and 2 EURUSD sell trades for a floating profit of +104 pips, see attached chart.
Look for our mid month performance report for tomorrow. Cheers.