Project Summary :
Duration: 09 Months , 02Weeks
Number of Trades Total | This Month: ] 261 | 8
Winning Trades Total | This Month: 210 | 7
Pip Gain/Loss Total | This Month: ] +8569.3 | 846.5
11 Apr 2013 Daily review by myfxpedia.com:
Just a short note for today.
As said the other day, this bull market just refuse to lie down as seen yesterday S&P has now entering the uncharged territory and people are all hype up. What we see in this current environment is that it’s unsafe to long stocks or risk currencies at the moment. The way this bull has run and over the last few days has all the ingredients of a perfect storm in the making, from experience prior to crash/correction taking place market always spike as though if you don’t join you miss the bus and then when then out of blue you unexpectedly catch the flu because of sudden crash. We just do not buy into this bull market just yet, not until we see a good sizable correction in the equity market.
The theme and safest bet currently is shorting the Yen pair, that is buying into Yen cross on any sizable pullback as the BOJ has pledge to assassinate its Yen with its printing machines being turn on full force and this can only further weakening the Yen as days go by. The AUD yesterday was not deter at all with the unexpected Trade Deficit number came out of China. It power on taking out 1.05 resistance level. Many leading economics even see that the AUD will stay above 1.00 as long as the US competing with Japan in printing and Aussie interest rate stay above 3%.
You can’t keeping hold back the chuckles or amaze at how Politicians are keeping blind eyes or are totally in denial. What Japan did to their Yen is truly engaging in what so call “Currency War” and yet there are Politician(s) still don’t think that the Japanese’s Government are aggressive in manipulating its currency. Take Wayne Swan, Aussie Treasurer, who thinks the Japanese turning on their printing machines and print trillions does not necessarily mean they are manipulating the Yen. Oh, my God.....speechless.
We are currently under the water with many of our holdings but still manageable within our risk parameter. We will not adding more trades unless it’s is prevailing and from what we see, anytime now within the next 2 weeks we will see a sharp cycle turn. Due to circumstances we are currently relocating our main office, so don’t be surprised if we miss our daily updates from time to time for the next 3 weeks. Rest assure we constantly monitor our trades.
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.