Answer by Dave Hughe: There are basically 3 ways to short a currency:1. You can sell a contract for that currency in a Futures Market.2. You can sell an index of that currency. For example, if you believe that the US dollar is going to weaken, you can sell a US dollar index, which measures … [Read more…]
Answer by Dave Hughe: The whole idea of technical analysis was based on the premise that most of the time people would respond in the same way to similar situations. And that these similarities of responses are reflected in patterns on charts. Whether this is true or not is a matter of opinion. But some … [Read more…]
Answer by Dave Hughe: The same way that one can be good at anything else. How does one become a good plumber or doctor or athlete? By learning and practicing. That is the only way really. View Answer on Quora
Just another short slow week after the long weekend. The result is +66 pips of profit and we are holding AUDUSD over the weekend. The up to date results since the start of this blog are as follows: Week 1: +231 pips Week 2: – 19 pips Week 3: +415 pips Week 4: +366 pips … [Read more…]
The AUDUSD short position opened on Apr. 17 (see the original post) reached its first profit target for a +66 pips of profit. The stop-loss orders for the remaining 2 units are moved to their break even points now.
This morning there were two signals. The GBPUSD news trade was cancelled due to the lack of action. The AUDUSD short position is open.
There were no trades on Tuesday. The USDCAD position got closed at break even point. See the chart below:
The AUDUSD dropped like a stone on the lower than expected CPI number. The pair broke through the support line and made a new low on a daily chart falling below the psychologically important resistance at 0.9300. It might take time to break through that number though. Our short-position position opened on Apr. 17 is … [Read more…]
Today there were 2 signals issued (see below). Later on the USDJPY signal was cancelled. The USDCAD position was open but it went nowhere and will be held overnight.
Answer by Dave Hughe: All the talk about 50/50 odds in the stock market or any other financial market for that matter is simply NOT TRUE. Just the same as calling the stock market a zero-sum game. The broker's commissions and other charges shift the odds against the trader. Yes, your chances of correctly guessing … [Read more…]