Well, here it goes…my monthly contribution to this blog. I am trying to keep it up to date as often as possible however LIFE seems to be getting in the way.
I have been able to steal a few minutes away this beautiful Friday morning while visiting my wife’s family in Knoxville, TN. So, here I sit at Panera typing on our little netbook, eating a pecan roll and drinking my second cup of coffee.
During the drive down I downloaded a new book on my Barnes and Noble e-reader – “SuperFreakonomics.” So far, 1.5 chapters in, I am thoroughly enjoying it, very entertaining and slightly educational…more novelty than fact but still a good read. I do recommend it.
As for my trading, I couldn’t be happier. I stuck to my guns and trusted my analysis while my short positions from 1.5100 have paid off big-time. Would I be so proud if we were staring at 1.6200 by now? No, but I tell you what I would’ve done…I’d have added to my short position. “You’re crazy!”, you say…In agreement, I respond, “I’m a FOREX trader – of course I am.”
I’ll tell you what I am not, what the U.S. Government and major media networks want me to be, and are trying to make me – DUMB! I will be honest, I don’t understand most things in this world: economics, politics, oceanic currents, etc. etc. However, one little tidbit has worked well for me and my strategy and I will share that with you here. Get a pen and paper out, you’ll want to write this down.
Do your own analysis, trust your gut, and most of the time – you’ll do the exact opposite of what the majority is screaming and telling you to do.
Right now I feel like Matt Damon in Oceans Eleven when he says, “Basically a smash and grab job, right?” and George Clooney responds with, “Slightly more complicated than that…” Of course trading, life, and work is much more complicated than the simplified paragraph above this one, but build on that and you will find what I did. A strong foundation of questioning the majority will serve you well.
Practical, recent examples – 1. Good ‘ole Bernanke talking down the dollar – don’t we have laws against Treason…not sure how they’d apply, but it should be illegal. 2. Gold @ 1140/oz, ’nuff said. 3. U.S. Markets rallying on…um…let’s see…uh, speculation the recession might, possibly, maybe will be over sometime in the near…wait, let’s not get overzealous…we’ll just say, “in the future?”
Not that I’m a big fan of George W, but he caught hell for “declaring” the war over in Iraq. I think it is a bigger deal that our government has pretty much “declared” this recession over and are, I’ll say it nicely, “encouraging” us to put OUR hard earned money into an inflated, puffed up market that has yet to prove it can handle the weight, but I’m sure it’s “FINE!”
Ok, I’ll leave it there, but I am out of the market as of today with my profits in hand, looking for another opportunity to go Eur/USD short. I would like to see a bounce of some sort actually, it has moved to far to fast and it is quite alarming…
Have a great weekend, see you around the block.
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