DislikedWell interestingly enough as soon as the news broke in the morning the first reports were that it wasn't as bad as they were expecting. At that point it would have been a good idea to close the trade as the uncertainty had now vanished from the situation. But seeing as I originally said I'd hold it till London I did and got stopped out at BE as the market edged back up.
Just demo of course I don usually trade this way.
Interesting though how the value depreciated through the unknown and then reverted back to its original value after this perceived...Ignored
I have traded markets for over 25 years. Stocks, Commodities and Forex.
Thinking about what we trade and why is important. The masses always form their opinions lead by others who have their own agenda in stating their views like the spinners on CNBC. Of course they really state what they think but based on what information.
I trade as a contrarian and do my own research by reading material from ALL points of view and then form my own.
What is so clear to me is that the MARKET is always right until it is not.
Explanation:
The market PERCEPTION is NEVER the reality longer term. The second a STRONG NEW fundamental fact becomes clear than PERCEPTION becomes reality.
I knew about the housing meltdown by reading and understanding other non mainstream views and so I was ready for the meltdown.
Information is powerful and having it gives you an edge on others that have misinformation from what I call the guessperts. They get it right about 50% of the time.
NFP on Friday might be 50,000 and then what will they say. How come since ISM was just over 60. They refuse to understand that the SIX HUNDRED BILLION of US Bonds that the FED is printing out of thin air is putting liquidity into the markets HOWEVER this is DEBT.
We do not need to know about hurricanes as much as we should understand what the FED is doing to destroy the US Dollar in order to inflate away the debt.
Their actions has caused Commodity Inflation and now we see the results in the Middle East and DO NOT IGNORE EGYPT.
Thanks for starting this thread. I use charts however they do not predict anything beyond the moment. That's my opinion and I know why I have it.