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On the positive side..
The currency market is treating me well today, up a couple of grand. Thank God the account i trade is funded through China and based in Australia... Thanks to Bernake it costs too much to trade based in the US...
Every time Obaloney opens his mouth the markets go nuts, and volatility means $ if you know what to look for.
Also, just in case your wondering, I am long on GBP/USD and EUR/USD looking for a bounce after the drop from last night, will be adding to my positions throughout the day as I look for the dollar to weaken quite a bit as the rest of the world figures out what it means that Obama won.
Damn if that diden't say it all..
"An individual is only entiteld to one's rights as long as one respects the rights of others."...R.F.
Yikes, playing margin in forex is playing w/ fire. I made tons of money a decade ago..then lost everything about a decade-1year ago. Good luck to you.Originally Posted by dwalker460
Its definitely not for everyone, but I do decently well with it.
Got the bounce, will wait for the retraction then start adding on additional longs as the Euro and GBP advance against the USD.
Fairly surprised you are long on eur/usd.
You think euro hit the rock bottom? Or usd going down near future?
I watch cnbc Europe everyday, and Europeans seem long on usd.
Maybe Mario brothers '( Monti and draggi) has some tricks left.
I can see why he is. Europe is freaking screwed but nowhere near as bad as we're going to be after another four years of Obamanomics. At least Europe has Germany and a few other responsible countries trying to rein in the irresponsible ones. Fiscal conservatives in the US just got marginalized.
My personal take is the retreat from the stock market into currency we saw today is only temporary, but it will push the Euro and cable up before correcting down, and it is likely to bounce around quite a while until the austerity measures in Greece sort out etc. I tend to trade on a daily basis and I am looking for 10 to 100 pip movements, so very short term rather than trying to predict longer term trends.
Spending your money overseas, eh? What a great patriot you are.
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