Recent Articles
Playing with Currency Options
Historically I’ve focused on trading the spot currency market, but I’ve begun playing around with options on currency exchange trade funds. The ETFs I’m practicing with are offered by Rydex Investments under the brand CurrencyShares. These ETFs hold the underlying spot currency, and derive their value from the spot price. For example, today the CurrencyShares [...]
Weekly Trading Video: Routine is Important
Routine is very important if you want a consistent result whether you are trading, or learning to play a bass guitar. In fact, I believe routine is important enough to be defined within your trading plan. Traders who fail to maintain a routine are at risk of taking trades against their trading plan, or simply [...]
Oh Canada! Your Currency is so Loonie!
Over the years I’ve seen the Canadian dollar do some bizarre things, but today’s price action was just plan loonie. If a trader can have an arch nemesis, mine is any currency paired with the Canadian dollar. Earlier this week I blogged my suspicion that USD/CAD would find it’s footing around the $1.04 level. Today, [...]
Has USD/CAD Finally Broken Out?
In 2008 USD/CAD broke lose of $1.04, and rallied faster than a space shuttle with a third booster rocket to $1.30. Falling from orbit, dollar steadily slid back to test $1.04, and traders every where waited for the next shuttle launch, but it never came. Instead, supply and demand evened up, and USD/CAD has traded [...]
Sung’s First Profitable Month
Today I want to share the story of Sung C. from California. Sung approached me about six months ago looking for a mentor, and he is one of the few people I’ve agreed to work with one-on-one. Occasionally I agree to mentor people one-on-one if I believe they have the commitment it takes to become [...]
Technical Tuesday: AUD/USD Is Clobbered
In Sunday’s Game Plan I was looking for an AUD/USD long anticipating the Royal Bank of Austrailia (RBA) would raise their interest rate. Often news trades happen the day prior as traders attempt to price in their expectations. I got long at $.8790 along demand, and I bailed out just prior to the rate statement [...]
Sunday Game Plan, USD/SGD In Play
Howdy Traders!
There will be no video this week, I’ve been on the road and unusually busy, but I’ll resume my weekly trading videos next week. This week I’m starting a new column called the “Sunday Game Plan”. This weekly post will highlight trading opportunities I see for the week ahead, and what is on my [...]
Weekly Trading Video: Daily Resistance and Intraday Price Action
Trading has been relatively quite ahead of the FOMC rate statement on Wednesday. I missed some decent GBP moves today, but managed to scalp the $1.06 USD/CAD round number. Total take for today’s trading was 31.2 pips, nothing too exciting but a profit is a profit. There is nothing on the long term horizon that [...]
Weekly Trading Video, CFTC Regs and Bargain Days
Howdy Traders,
This week’s video deals with a losing trade, the CFTC’s proposed regulations, and combining technical reasons to trade with fundamental reasons to trade. I hope your having a fantastic weekend, and best of luck next week!
CFTC Proposes Unpopular Regulations on Retail FOREX Transactions
Earlier this week the United States Commodity Futures Trading Commission (CFTC) proposed several new, and highly unpopular regulations aimed at off-exchange retail FOREX transactions. The proposed regulations are “important steps in implementing the additional consumer protections authorized in the 2008 Farm Bill” according to CFTC Chairman Gary Gensler. The off-exchange retail currency market, or FOREX [...]
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