Monday, September 14, 2009
Here are a couple random scalps I took on the 15 minute candles when prices became overbought and oversold.
USD/CHF bought on the break, targeting a 25 pip move as shown by the higher trend line.
The Gold position already broke and hit my profit target. I won't be surprised to see a larger move in gold back to 995 and just as likely 986
Monday, August 17, 2009
Thursday, July 30, 2009
My preferred trading times are between 8am - 11am EST for scalping/intraday trading and around 5pm-8pm Eastern. The earlier times gives me the best volatility for the scalping and the later times gives me the quietest market to plan the longer term, multiple day trades (the price action from news is already shaken out).
This is just my view, what's yours?
Tuesday, June 02, 2009
Friday, May 29, 2009
Monday, January 05, 2009
I love the book by Isaac Asimov, i Robot. In the movie, there is a repeated pattern of interaction between Detective Spooner and the hologram of Dr Lanning. In the interactions, the detective can ask the hologram questions but many times the hologram responds, "I am sorry my responses are limited, you must ask the right question..." and when the detective asks the question that will lead him to the information he needs, the hologram answers, "That, Detective, is the right question." The hologram never gives the answer just tells him that he has asked the right question. So let me propose some thoughts with a recent report I saw on CNN and leave it up to you to ask the right question.
In 2008, the FOMC has been approved to spend 7.2 trillion dollars and spent 2.6 trillion dollars. Having spent 2.6 trillion dollars, how will this affect the economy?...I am sorry my responses are limited. How will the 2.6 trillion dollars spent affect the strength of the dollar?...I am sorry my responses are limited. How will the 2.6 trillion dollars spent affect the world economy?...I am sorry my responses are limited.
So faithful reader, what is the right question?
(feel free to post what you believe is the "right question" here and I will let you know detective(s) if that is the right question or not.)