Welcome back!
We are very glad you could join us today and that you wanted to join us(ha,ha..). There were some interesting developments last week. First maybe a word of explanation. There are a lot of discussion boards, forums and chat groups devoted to Forex trading. We as a company DO NOT participate in any of them. Yours truly, however, as a private trader, checks them out every now and then. Now, nowhere, but nowhere at all have seen anybody's prediction or comment, be it a small speculator or a broker, that CAD was going to strengthen so much against every other currency. In case you missed it, Canadian dollar made some large moves large week. By Friday, there were, dozens of posts all over the place with opinions how far is CAD going to go, that this move will last for weeks maybe months.
When you read these comments it seems that some people are shaking and slobbering all over keyboards while typing it. That's how excited they are. My question is to all those clowns, where were you a week ago, 2 weeks ago? Based on all that unhealthy excitement and other data we put our good name on a line here and call for a weakness in CAD over next few weeks maybe months. There, now you have it and more a little later.
On other fronts our Systems were churning water last week, with minor fluctuations, still down for the month of August, but glad that month is slowly winding down. So here we go;
System 1 gained 16 pips, which makes it's monthly total -166 pips.
System 2 lost 30 pips, with a total for August at -93 pips. |
Discretionary trades.
Time to take a look at other side of our activities. At last we closed our long CHF-JPY trade. If you recall our target here was 95.00. After a very long wait we closed it without quite reaching that goal. Nonetheless
we made 135 pips on that trade. We are still confident that 95.00 and higher will be reached, we think however, we can do better elsewhere with our money. For now this trade is closed, take a look. |
 |
| Realized profit 135 pips! |
|
|
| It's time to finish up what we started at a beginning of this page, our opinion about CAD. This is a little different, as we don't have specific targets. Those will be covered in future posts. What we do here is making a public call to go short CAD. We do it for reason of farther establishment of our public credibility and history of calls. And, as always, we put money when our mouth is. At the end of trading day on Friday we established long positions in both USD-CAD and EUR-CAD. Here are the charts. |
 |
| Long on 08.25.2006! |
|
|
 |
| Long on 08.25.2006.! |
|
|
Next week's trade.
Here is something far less dramatic but more specific, trade that can be implemented. Take a look EUR-AUD here. We have a standing order to buy at 1.6970. Our target is 1.7200 and estimated time of trade completion is 2 weeks. We believe this situation has a high probability of finishing in the money.
Good trading! |
 |
| Buy at 1.6970, target 1.7200 |
|
|
Once again we must stress that the trades highlighted here are only a small sample of our trades. If you have any comments or would like to obtain more information please contact us at info@spectrumforex.com . |
|