September 6, 2008
————–Top 5 Stories in FX This Week—————-
ECB must act to end the euro’s wild rise
You Are Here
12 Reasons Why the US Consumer is in Serious Trouble and Faltering
The Import Slowdown
China’s Manufacturing Contracts for Second Month
—————–Trading Thoughts- Luck or Skill?—————
The lead from the Guardian was relatively nonchalant. In a very matter-of-fact way it noted that “Hedge fund manager Ospraie Management LLC will close its flagship fund after it plunged 27 percent in August on losses in energy, mining and natural resources equity holdings, in one of the biggest ever closures of a commodities-focused hedge fund.”
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August 29, 2008
————–Top 5 Stories in FX This Week—————-
The Demise of GAAP
How Much Banking Does America Need?
Presidents and Market Performance
50 SPX Stocks Down > 50%
Bailing Out the Big Three?
—————–Trading Thoughts- Learning By Doing—————
When it came to the subject of trading I used to read everything under the sun, but a funny thing happened to me this week. I received a notice to renew my subscription to Futures magazine and for the first time in more than a decade I actually thought to myself - “Ah why bother? It’s a waste of time.” Don’t get me wrong - Futures is a fine publication but its usefulness died out for me a long time ago. Let’s face it - I could easily do without one more article on a glorified moving average cross over system or another fluff profile of a CTA. Furthermore, my opinion did not just pertain to Futures but extended even to those magazines that I write for such as SFO and Active Trader. I still read them cover to cover but my enthusiasm for them has curbed significantly the longer I trade.
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August 23, 2008
FX Market Outlook
Dollar: Rally Done?
Euro: Data Dour But Support Holds
Yen: 110 Still Resistance
Pound: Crushed To A Pulp
Commdollars: Is 800 Support for Gold?
————–Top 5 Stories in FX This Week—————-
Will Cold Cash Prevent a Cold War?
Stealth Repudiation of US Debt?
All the Oil We Need
Will Roubini Be Proven Wrong?
A New Qualitative Capitalism
—————–Trading Thoughts- Getting Half the Juice—————
The longer you trade the markets the more you realize that the only absolute in the game exists on the downside. What I mean, is that the only factor that we can control with any degree of consistency is our losses. Most people of course believe they can control profits and that is perhaps the most naive belief of all. I’ll never forget one time sharing a cab downtown with well known colleague who opined in no uncertain terms that he never takes trades with less than 3 to 1 risk reward ratio. I remember feeling uncomfortable at the time with his utter conviction that this was the only way to trade and only much later realized that this man must have never put his own money on the line because his premise was laughably unrealistic.
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August 15, 2008
FX Market Outlook
Dollar: Domination Nation
Euro: Effective Recession?
Yen: 110 Still Resistance?
Pound: Pounded Into the Ground
Commdollars: Gold Slips Below 800
————–Top 5 Stories in FX This Week—————-
Quadrupling The Inflation Tax
Whoops,There Goes Our Profit
Squeezed From Both Sides
Guns of August Give Dollar a Boost
The Dark Side of Debt
—————–Trading Thoughts- The Big If—————
If only we entered the trade 10 points higher!
If only we were right on the data!
If only this pair would follow the broader dollar trend!
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