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By Chuck Butler today:
Last week I told you of the way Freddie Mac was likely to request another $10 Billion, bringing his total taken from taxpayers to over $60 Billion... Well, this week, Fannie Mae, declared that they would be asking an additional $8.4 Billion, brining their total to $84.6 Billion! I am telling you people... I am screaming at the walls so loudly that the paint is beginning to peal!
But... The markets are pounding on the euro? Let me get this straight... The Eurozone announces a $1 Trillion worth package to aid the runaway budget deficits in Greece, Spain, Portugal, Italy, and Ireland, and also the euro gets pounded...
But... The U.S. will have a $1.6 Trillion Budget deficit this year ... Along with the dollar gets purchased? Someone please wake me from this nightmare!
If the euro receive sold for these debts... YES! If the dollar be purchased... NO! If U.S. Treasuries be purchased as conserve harbor trades... DOUBLE NO!
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Thanks Intensity!
Indeed it was a nice gap on Sunday and I cashed in many Euro longs at about 1.30. Was my greatest daily gain ever so far. Https://www.nigeriaforextrading.com/...1528698199.png A once in a lifetime lucky shot I suppose...
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I asked some other trader a while ago whether there was a price level, candlestick formation or life event, which could alter his bearish stance on AUD. He got himself burnt badly throughout the big rally.
Replace AUD with EUR, bearish with bullish, however, the question remains the same.
Do you know how I prevent myself from buying euros? I really don't compare the debt amounts of US and EU, I don't care how much the yanks cranked up the money printing presses, I just ask myself another simple query:
Do I need to work 2 extra hours a day just to help encourage some other country to repay their dumb debts?
No, I still don't.
I am wondering how long will you germans remain the milking cow of Europe. Https://www.nigeriaforextrading.com/...1528698199.png
Apropos, have you ever discovered the broken head-shoulders pattern about the EU monthly chart? Perhaps not the proverbial yelling buy, can it be.
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Hello men,
I am really sick in this time (of course not due to trading), doesn't seem to shiny. Regarding the account: I have hit really hard because of my stupidity, maybe I simply did not take it serious enoughand for sure I was hell of overleveraged. Anyway I will continue of course but have to become healthy . Will take it more seriously I promise.
I believe I will convert into a balance of 1000 Euro and continue in an Euro account and will use this one to get a carry grid experimentation. More later...
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Health is your very best advantage, take care of it.
When you come back, you'll need to stop undermining your trading, since it is not fun to see you doing the very same mistakes over and over.
Get well soon.
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Ok, feel somewhat better now even though not that great at all. However, I've opened the EUR account now and will last there. The current Yen strength is a real good dip buying opportunity which I used to build up Yen brief positions mainly.
http://www.myfxbook.com/members//1k-1m/32355
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Hi,
I do check from time to time what u r doing. To be fair - I do get the impression, which you've lost your path and that's not anymore... maybe you're attempting to get back and profit as far as possible - however in my eyes - how you're doing right now, wan't function... see... it is dangerous out there now... and once I visit, how many resets and sicknesses.... Appears to me for an attempt and error and try and error and try and error....
Do yourself a favor and go back to your previous and more successful articles....
I do feel a bit sorry about you and also why, why I am still checking your articles from time to time, is not because I am considering trading the FX (I despise these believes and would never dare to attempt and trade something which nobody really understands)... but you showed up with a rare combination of beeing able to read the market and on top of that reporting it, like it was a game... and that combines trading with entertainment... and that's the reason, that you did encounter a lot of feedback and appreciation... in my opinion...
S - my advise would be.... But of course I am only a guy, who is reading your articles... get back to your own skills... turn off your emotions and many and foremost... adhere to your rules, to your knowledge, to your expertise and most of all.... Check your liquidity and behave correctly... meaning - don't use too much leverage....
Please don't get me wrong - its only an advise among Germans...;--RRB-
So - Good Luck! An please continue posting!
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Thanks yes. However, my sickness has not anything to do with trading, I'm just getting old. Https://www.nigeriaforextrading.com/...1528698200.png I want to produce more quality instead of quantity of trades. And I'd love to add that I'm one of these men who reveal their failures. Perhaps that's why it looks like I'm not the good ol' one , but that's not true. I make mistakes and I reveal them. There have been better times and there'll be better times again. I have survived a long time of entirely different market conditions and also have heard a lot. I think I'm prepared now...
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I can completely support Platypus comments.
Once I did blow my very first Trading Account 20 decades ago and the only thing left, was a large amount of debt, because a high percentage of this reduction was borrowed money, I decided to first work hard at my job, to pay back the money and then try to get it back by trading and investing on a slow and steady manner.
So another 8 years I worked hard and whenever possible - I researched the market fundamentals and tried to determine, how I could make some profits without gambling too much. . .and squandering money... its so hard to gain and really easy to lose...
Since a couple of years I am in a position to earn some profits each year and my trading account this year is still up 22%. This amount sounds not that overpowering, but becomes even more impressive, if you take under account, that I am adding a certain amount of money per month into the trading account, that accounts this month for less then 13.5percent of the entire account size. So you can imagine how hard it is, to maintain the momentum concerning percentage performance.
Minding the trading, I am on over 65% cash in investing....
Why I am telling you ?
Because I did post my transactions on my own site from the beginning and because this is my only reporting without a daytrading since nearly 2 decades anymore, the amount of active members on my board has gone nearly to ZERO. Thats a great example and evidence in the sametime for the disagreements, which Platypus placed on the table here.
I am not going to post a link as I am not coping with FX or commodities, but only with German and US stocks. So this isn't related to the forum. And knows my site anyway. (and its in german)
So - I completely agree with Platypus and I believe that the major mistake, most of young guns making is, to do everything in a hurry and try to reach the lifetime goal in a year with a 1000 dollars account. And that is in my mind the ideal way to never ever becoming able to collect a significant amount of money. Nevertheless 95 percent of all traders are dropping and that I wouldn't be surprised if the percentage in FX and Commodities is even greater.
Although I am making some profits each year, I am not feeling like having found the holy grail. And I am still working hard on my job, because this is my real growth machine - earning a fantastic income and investing a fantastic bit of it for additional gains. However, to do so, my view is, that you have to take big efforts in producing a fantastic income first, then live a modest life and help save money. Spend a lot of time to find out and examine the market and search for opportunities and then take time to make decisions. And even then it's not a guarantee to earn profits over the long haul.
But thats my opinion and after reading the very interesting comments from Platypus I could not help, but creating these remarks myself.
Have fun guys ! I like reading s articles from time to time.
