The Korean Won is up 32% since March, and 8.2% on the year. At the same time, it is 20% below is 2007 year-end level, as well as 13% weaker than the 2006 average of 955 and 15.5% weaker than the 2007 average.
Focusing only on the Won’s appreciation would probably cause some technical analysts to [...]
September 5, 2008 by Trader Rich
The September issue of Currency Trader Magazine was released today. Some of the highlights include:
A look at an advanced carry trade strategy involving the Swiss Franc.
The CFTC gains jurisdiction over retail forex fraud.
What will drive the forex market in Q4.
Yen crosses on the move.
U.S. dollar rockets higher, Euro tumbles.
China changes [...]
The big story of the last month in forex markets has been the possibility that the Fed could soon hike interest rates, which would upend some of most stable (and gainful) strategies currently being employed by traders. As a result, the markets will certainly scrutinize the statement that accompanies today’s conclusion of the monthly rate-setting [...]
Daily Forex Market Commentary for November 10, 2006Forex Market Commentary by Cornelius Luca, Currencies Analyst, GFT
The dollar was hit on Thursday after some soft data on consumer sentiment, talk of China diversifying its reserves and concern that the political changes in the US may destabilize the economy. The dollar is on significant supports here, but [...]
September 3, 2008 by Trader Rich
I’ve read a lot about how automated forex trading systems just don’t work in the long run but I can’t conclude this from personal experience. I’ve never seriously traded forex using automation. The following is an email from a trader who can conclude this from his experience. I found it [...]
GFT Daily Forex Market Commentary for November 29, 2006Forex Market Commentary by Cornelius Luca, Currencies Analyst, GFT
The dollar fell furthet on Tuesday and the weak US durable goods orders report didn’t help. Following a brief reprieve, the weakness should continue.
Euro/dollarEuro/dollar rallied further on Tuesday to a new high for the uptrend. The medium-term outlook clearly [...]
August 26, 2008 by Trader Rich
I’ve received positive and negative feedback from a lot of you who have experienced forex automation. I don’t want to talk about the bad news quite yet. So what’s the good? Unfortunately, the good news mostly involves available API’s for developing your system and brokers that support automation. I haven’t [...]
My last update on the Japanese Yen was published on October 16 (”Japan Flip-Flops on Forex Intervention). As the title suggests, I sought to overview the many instances of equivocation committed by newly-appointed Finance Minister Hirohisa Fujii in the name of Japan’s forex policy. I concluded that at that time, it was probably still premature [...]
December 31, 2008 by Trader Rich
So after yet another hiatus from trading forex, I just recently had my first trade in months. It was a successful one also. But the question I want to answer is, “Is this blog dead?” The answer is no. I’ve made a living over the past 3 years ducking in [...]
August 13, 2008 by Trader Rich
I have never traded a forex strategy live using any advanced automated methods. At the most, I’ve placed a limit order. Most, if not all of my experience has been with expert advisors in Metatrader.
I realize more than ever that if I could automate my strategies, this may take [...]