Is there a currency war?

http://edition.cnn.com/2010/BUSINESS/09/28/currency.wars.brazil.ft/index.html?hpt=Sbin

Stay tuned for Ric's commentary

JULY 2010 Trade #1 - SHORT EUR/USD

July 22, 2010 7:38pm

2nd half stopped-out at breakeven. Nice restart.

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July 22, 2010 11:22am

Limit 1 was hit last night at +30 pips/lot for a total of +60 pips. Second half stops moved to breakeven and risk-free.

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July 21, 2010 7:16 PM

Trade Details:

SELL EUR/USD @ 1.2799 (4 Lots)

Stop - 1.2921

Limit 1 - 1.2769

Limit 2 - 1.2690

Technicals look like this is about to drop after a long rampage upwards. Whatever Ben Bernanke's going to be testifying about is sure to send the market one way.

Back to trading!!!

For Apr 26-30

Three things that will move the markets next week:

- the continuation of the Greek saga

- the continuation of the Goldman Sachs story (and if ever the whole thing will drag other banks into the quagmire)

- the FOMC meeting

My, my, my...my bet is on the greenback.

SEC sues Goldman Sachs

From Bloomberg. Just as I have completed almost a month of stalking the market trying to figure out how it is since I stopped trading, this thing hits.

Pretty bad for the market. Risk aversion in the offing but will be like a ping-pong ball bouncing off from hell to nowhere.

http://www.bloomberg.com/apps/news?pid=20601010&sid=aMVnYAF6bYCw

CDOs - complicated investment instruments invented by banks and other institutions based on the sub-prime market. Basically, it's what sent the whole world upside down two years ago.

Back from hibernation

It has been a long while. Almost four months since my last trade. Anyway, I'm back from hibernation from trading. I will be trading again pretty soon. That's all for now.

January Trade #2 - BUY GBP/USD

Jan 12, 2009 3:12 pm (Manila)

Trend reversed and hit my stop for the 2nd half. Trade is out.

Summary:

1st Half: +80 pips
2nd Half: 0 pips

Total: +80 pips

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Jan 12, 2009 2:46 pm (Manila)

First half is out at +40 pips/lot for a total of +80 pips.

Second half stops moved to breakeven. Rest of trade is risk-free.

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Jan 12, 2009 11:30 am (Manila)

BUY GBP/USD @ 1.6086
Stop - 1.5942
Limit 1 - .6126
Limit 2 - 1.6182

At about 5:30pm this afternoon (manila), UK Trade Balance will come out. Expected to be less negative, it should further boost risk appetite for this pair.

On the technical side, RSI, Bollinger Bands and MACD all show enough room for an upward push on this pair (Daily and Hourly charts).

January Trade #1 - BUY EUR/USD

Jan 12, 2010 7:00am (Manila)

Trade is out. Second half at breakeven (0 pips/lot).

Summary for this Trade:

1st Half: + 60 pips
2nd Half: 0 pips

Total: + 60 pips

Nice Start for 2010!

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Jan 11, 2010 6:00 pm (Manila)

First half is out at +30 pips/lot for a total of +60 pips. Second half is now breakeven.

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My first trade for 2010:

Jan 11, 2010 2:45pm (Manila)

Buy EUR/USD @ 1.4508
Stop - 1.4315
Limit 1 - 1.4358
Limit 2 - 1.4610

Reason: French Trade balance expected to be positive for the Euro. ON the technical side, the dollar has been weakening since the start of the year. I expect the weakness to continue. RSI and MACD on the daily chart indicate room for upward movement.