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Euro Last Support or Hope :136

  
Analysis, Education, Forex
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EURO -WEEKLY CHART

Last week ,The epicenter of many of  questions seems to be southern Europe, where Greece, Portugal, Spain and to a lesser extent the remainder of the so-called PIIGS (Portugal, Italy, Ireland, Greece and Spain) have flamed investor concerns that burgeoning public debt may significantly weaken investor demand for sovereign debt and exacerbate an already trouble budgetary crisis.

Many investors have taken to selling the euro is as a means by which to reduce exposure to these problem areas and/or speculate on one or more of these crises spiraling out of control.

-Just look at above chart :Weekly chart includes a powerful rally of Year 2009 and more recently and two-stage selloff, starting in the first half of December and picking up steam over the course of the past 3 ½ weeks as traders looked to capitalize on weakness stemming from the problems in Greece, Portugal and Spain.

ALERT25

Just watch 136 level.Three consecutive close below this level+ Weekly close will take to 131.70-130 level.

-If not breaks 136 & trades above 138 level will create buying upto 140-141 level.

-Best Strategy :Sell on Rise.

-Will update more very soon.

Updated at 13:10/8th Feb/Baroda

Lessons Learned

  
  Education
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“So far in 2009, what are the  the most important thing I had  learned about investing, trading, and/or the markets?”

lessons-learned

  • Success takes longer than expected

  • That you must learn to trade and trust yourself and not to become so dependent on the opinions of others, which ultimately keeps you from becoming the best you can be
  • Keep it simple
  • The very best profit opportunities occur in the midst of extreme emotional sentiment
  • Always think opportunistic verses too bullish or bearish
  • Persistence and dedication to a daily routine is key
  • Developing an edge is the first step for trading successfully. Without that, disciplined trading will only make sure you gradually losing money
  • The market is one unforgiving bitch!
  • It is challenging to find non-correlated markets
  • You have to respect the market even if you think it is under some kind of manipulation
  • Keep your eyes open and powder dry
  • If you fall in love with a stock keep 100 shares and let the rest go
  • I’ve learned to be patient in waiting for my patterns to appear
  • The value of ETFs
  • The importance of finding special situations that will be profitable no matter what the market does
  • Stay away from light volume when the only thing trading is the black boxes
  • The importance of focusing only on one technical setup in order to improve one’s skill set
  • I now think that buy and hold is a serious mistake
  • Think big and think long term
  • Don’t try to predict the markets
  • Don’t be afraid in bear markets, just another opportunity
  • The odds are stacked against the retail investor
  • There’s no such thing as a sure thing
  • The harder I work at it the more likely I am to succeed
  • Conserving one’s capital is vital
  • I know the rules – I just need to notch-up my discipline
  • Smaller entry positions can be helpful
  • Opportunities are everywhere
  • The market is primarily psychologically driven
  • Trade with the trend instead of trying to pick tops and bottoms
  • Know where and when to get out before you get in
  • As Johny Cash put it “You got to walk that lonesome valley, you got walk it by yourself. Nobody else can walk it for you. You got to walk it by yourself.”
  • The difficulty of avoiding over-optimization/curve fitting
  • Overtrading can be, and often is, a recipe for disaster
  • To breathe before executing a trade
  • Trading is not a profession for pessimists
  • Never feel confident even when winning. Humility is a good thing
  • You need to be quick and brutal with the trading decisions
  • It is okay to sit out a potential move – risk management over reward chasing
  • Don’t bet the farm in either direction
  • There is no consistent logic to trading the market
  • Some trades need to be taken when they appear, not just when you are ready
  • There’s no rule that quality stocks must go up
  • Don’t chase any overbought stocks
  • When a sector (like financials) look so hopeless as it did in March there is potential to make a lot of money if things turn around even just a little
  • Hope is a four-letter word and has no place in a trading strategy
  • Patience. It is ok to sit out once in awhile
  • Wait until you have an proven strategy supported by data before trading for keeps

  • Anything can happen. Trading is all about probabilities

  • Technically Yours-ANIRUDH SETHI ,BARODA ,INDIA

 

What Does A Trader Do ?

  
  Education
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smile-cute

One thing that I couldn’t accept as an attorney (for the five minutes I seriously considered that as a profession) was that I’d be confronted with the temptation to make money from projects and clients with whom I did not want to work. The wealth that is created from doing a law-job is wealth that comes from the support of, allegiance to, and active promotion of a client’s business. (more…)

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