Thread: $5k to infinite

Dear all,

I'd love to continue my trip I started in my past 10k into 1M thread. For several reasons (has nothing to do with Oanda!) I needed to pull out my money out there but still want to stay in touch with the markets.

So what's all about? I start with a fresh account and I start with AUD 5,000. So why the australian dollar you might ask as my base currency is the Euro? It's only that the AUD is among the strongest currencies on the market, a commodity currency. And as we're still in a commodities super bull cycle currently which might last another 7-10 years at least I think that the AUD will outperform other currencies such as the Euro and the Dollar (well, I can not imagine a currency that won't outperform the Dollar in the moment).

I will exchange my own style of BWILC (Median Grid Trading) here, utilize sometimes higher leverage but seldom stops in any way. I will give my very best to explain what I do here and please let me know if you have any questions.

I really don't have a fixed goal here, simply will see how it goes and how far I can push this account.

So let's make some money!

Starting Balance 03-Nov-2009: $5,000.00

http://www.xaron.net/dl/fx/2009/aud/account_031109.png

Originally Posted by ;

Hello tradestar,

Many accounts obtained margin call last month JPY draw / spike as we never expect such a manner market will move. The last year intervention from the BOJ transferred the market just 300 pips and also the last month spike was intense. If we are bad in cash management there's absolutely no doubt that account will discounted. But, I survived in 1 account as I was using hedge in that account and another one obtained margin call.

George

NO, you did not live.... You threw away half of your overall account when instead you might have made some very pleasant profits with appropriate position management.

Your concept of hedging is very faulty. The usage of starting an opposite position in precisely the exact same pair is basically being flat that the pair with the exception you're still paying transaction costs and interest that's a losers game.

What exactly happened to your hedged account after the JPY spike reversed?
Look at this.... Did this market movement crap you called hedge? Or were you actually able to take any profit out of the market?

Great luck with your new assignment. . .Will read - makes me feel confident when I see somebody doing good. Much nicer than reading about blown off accounts. . .Thanks for the analysis overly
Cheers

Fantastic fortune ....Just left a note on the older thread. . .Will this be the new thead today or will you still have entries on the other thread? ....Is your new acct still in Europe or have you moved it down beneath too ? ...

Good luck

Thanks!

@Howkra: I have the new account at Oanda in US as well. Actually it's not a new account it's only a new sub account to my primary one.

And for this will be the new thread. I might continue another person as soon as I have enough money back there.

Good morning!

Review

Woah there! Now that had been a real roller coaster in my account yesterday. Once I inserted my very first Dollar shorts in went instantly. I included more Euro and Aussie longs the way down but especially the Euro did not look back and stopped directly above 1.46. I guess a lot of stops are taken out there since the zone about 1.4680 was a good resistance. Today back at about 1.4750.

Gold did shoot up to 1085 where I decided to brief it. IMF sold 200 tons of gold China and India stepped in. The stock markets were almost unchanged.

Overall it was a really good first day for me at the new account even though I hadn't anticipated such a harsh drop.


Analysis

That has been rather interesting yesterday. Stop fishing, fights between bulls and bears and a lot of guys may be brief in the Euro now. Hell, even http://www.ashraflaidi.com/articles/...inflection.asp! Now of course which may happen and also the weekly chart really looks like this. It depends somewhat from the FOMC statement today and NFP on friday so some market vibration events. I really don't expect that Dollar supportive FOMC statement today but perhaps I am alone with that. We are going to see. I doubt it will change the long-term trend. Euro will strike it's all time highs again - no doubt - the only real question is how deep it goes ahead? I really don't think that we will close below 1.4480 that is another good support. Looks like a lot of market participants see those less costly levels equally as excellent dip buying opportunities. So do I even though I could reduce my leverage...


Strategy

Nothing new. Dip buying.


Open trades

http://www.xaron.net/dl/fx/2009/aud/...ons_041109.png


Prices

AUD/USD 0.9050
EUR/GBP 0.8950
EUR/USD 1.4750
GBP/USD 1.6470
USD/CAD 1.0630
USD/CHF 1.0250
USD/JPY 90.60
USD/NOK 5.7500
Gold 1084
Silver 17.20
Oil 77.80
Dax 5390
Dow Jones 9780


Account Summary

Starting date: 03-Nov-09
Starting Balance: $5,000

http://www.xaron.net/dl/fx/2009/aud/account_041109.png

I just chose to lose my Gold brief and added another Euro long and Cad long. It is a bit strange why India made a decision to buy 200 tons of Gold in those high levels...

Ordinarily if Gold shoots up, the Euro should follow.

So http://www.dailypfennig.com/currentI...date=11/4/2009 had any interesting facts now:

So... What put the tiger in Gold's tank yesterday and overnight? The weaker dollar helped... The thought became clearer that the cartel, I mean the Fed will keep rates on hold this week helped... But the true beef came from the statement which the Reserve Bank of India was buying the 200 tons of Gold from the IMF... I know, I know, I told you yesterday that I thought it would be a wash for the dollar and the Gold price... But this was before I learned that the Reserve Bank of India compensated for their $6.7 Billion dollars worth of Gold with... SDR's!

So... Either, the Reserve Bank of India (RBI) did not need to eliminate their dollar reserves... (yeah, right!) Or... The IMF did not need anything to do with dollars, and favored receiving SDR's! (for those of new to course, a SDR is a basket of currencies to create 1 unit called a Special Drawing Right, where the IMF uses, and has been rumored to be the replacement for the dollar as the reserve currency of the planet... The 1 government, 1 currency item)

,

I do not know what to research into India's buying that amt of gold at that price.

One thing I know for sure: the West as we know it's Dead ;--RRB-

Originally Posted by ;

Therefore http://www.dailypfennig.com/currentI...date=11/4/2009 had any intriguing facts now:

[I]So... What place the tiger at Gold's tank yesterday and immediately? The weaker dollar helped... The idea became clearer that the cartel, I suggest that the Fed will keep rates on hold this week aided... However, the true beef came in the announcement which the Reserve Bank of India was buying the 200 tons of Gold in the IMF... I know, I know, I told you yesterday that I thought it'd be a wash for your dollar along with the...