28th September, 2008.
Unlike the last week, for the next week, let's put more importance on the point of view of the fundamentalists. This coming week, USD strength should be considerable as a valid. Traders on USD long may be at a winning stroke. Buying USD on a down and selling it on the up might be the right choice strategically at these hours. For the pair EURUSD, a figure 1.4800 or a little up seems to be a significant rewarding selling zone for the next week. Though, the slow global growth still continues with addition of the events occurred within the US economy most recently. Additionally, as pointed out below - where to put a stop loss remains a complex theory.
"Beware of dog" suggests to the unfamiliar to be cautious. This means that the less familiar you are the more is the chance that you will be bitten by the dog. Today's market conditions imply the same strategy for the less experienced or the beginner in currency trading market. It totally reflects a tendency that this is a Champion's game.
The situation may occur when an inexperienced trader is tempted to create a position. But, after that the market moves against it just to touch the stop loss mark. After hitting the stop loss, the market skillfully moves once again in favor of the trader ! So, better to see than to play at this time for the newcomers.
"Beware of dog" suggests to the unfamiliar to be cautious. This means that the less familiar you are the more is the chance that you will be bitten by the dog. Today's market conditions imply the same strategy for the less experienced or the beginner in currency trading market. It totally reflects a tendency that this is a Champion's game.
The situation may occur when an inexperienced trader is tempted to create a position. But, after that the market moves against it just to touch the stop loss mark. After hitting the stop loss, the market skillfully moves once again in favor of the trader ! So, better to see than to play at this time for the newcomers.
REPLYING COMMENT:
Comment: run said...
Is your blogspot? Is it your own site or is it like gzyn.com? Anyways, you are an accomplished finance writer.
Is your blogspot? Is it your own site or is it like gzyn.com? Anyways, you are an accomplished finance writer.
Reply: Thanks for your comment and compliment. No this is not like gzyn.com. This is a personal blog (http://www.blogger.com/). I am not an expert; I just use few report, study them, and write. If good response received, I will continue writing.
Regards,
Webmaster.
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