40 Days Trading – Wiped Clean In 72 Hours

I get the impression that for the most part…..many of you aren’t “particularily thrilled” with what you read here day to day.

You may pass by occasionally, maybe looking to “round out your daily reading” with something a little different, or perhaps you check in once in a while for a laugh at what “ol Kong” has to say about this or that, or maybe ( just as likely ) you stop by with a tiny little “chip there on your shoulder” hoping all the while ( somewhere there in the back of your mind…) that I’m flat out 100% wrong. That’s right – wrong.

Dead wrong. Completely wrong. Totally wrong. No?

Wouldn’t you rather that I’m wrong?

How bout the Japanese Nikkei crapping out at 15,000 and in turn……40 “trading days” of SP 500 profits wiped clean within 72 hours?

You liked that one?

I’ll bet.







9 Responses

  1. @frenchdna April 8, 2014 / 8:39 am

    Not sure why you’d think we’d hope you’re wrong. As i’ve stated many times your understanding of what’s happening behing the curtains is quite outstanding and very interesting, even though i’m not quite sure how to translate it in actual trading most of the time (and it frustrates me). I spent 2h hours with my gf explaining/translating on the go your gold/china/usd post series this week-end, we both loved it. She’s a 23yo fresh out of college, working in PR/Marketing. Not her favorite topic usually, but still, she said i was a good teacher. I laughed knowing damn well all the credit was yours.

    Anyway, if i can suggest anything, in times of “not much happening / flat / sideways market” why not use this opportunity to talk about technicals, on smaller timeframes, as exercises. That would be cool. Something like “let’s all use only X & Y tools on the 1, 2 and 4h charts for Z days” and see how we each perform. Does the use of X & Y tools contradict our usual signals ? Price action, Double Bollinger bands, you name it. I know you’re not very fond of the technicals, still it could be a time to improve our skills (ok, maybe not yours, oh dear Kong, god of forex, as you’re already challenging Chuck Norris ;p)


    • Forex Kong April 8, 2014 / 8:51 am

      Hilarious….I love hearing things like this once in while, as this blogging thing is pretty much a one way street.

      I’ve considered doing exactly what you’ve outlined – many, many times as I am an extremely technical trader as well only in that…..it’s work. Explaining it is even MORE work.

      I’ve been reluctant to get this “paid service” up and running but as of late have been considering taking on a small/ manageable group for live trading / technical trading / etc…we’ll see.

      Thanks for the input FrenchDNA – feel free to make any other sugestions / share your thoughts.

      I’m all ears.

      • Forex Kong April 8, 2014 / 9:03 am

        About “being wrong”.

        People don’t want to hear it. They may read here…but in the back of their minds really don’t “want to believe” what they read.

        Talk about China – nope.

        Seeing the Japanese market “lead” the American market – hell no!

        People want to believe that this is all just a “bit of a mix up” and that they can soon go back to their snooze fest, as “America will take care of it”…….take care of those “commies in the East”.

        It’s tough for anyone to accept change – I understand that. But seriously…..when it’s been staring you in the face for years, and now so blatantly right in front of your eyes – when does a person finally take a bit of time to consider whoah!? Maybe I should give this some thought?

        Answer: ?

  2. ervoner April 8, 2014 / 8:51 am

    Hi kong…I wondered about the AUD/USD pair bulls are in control?

    • Forex Kong April 8, 2014 / 8:56 am

      It’s a toss up here…..as I feel we’ve maxed out ( with a large part of this run up just short’s covering ) but AUD continues to keep people on pins and needles.

      Me……I’ve said it once and I’ll say it again – I’m short AUD from here on out….no matter what, and will gladly see everyone here again when we see AUD sub 85 , 82 etc…..

      The timeline is always difficult as we can see days and days and days trading at “frustrating levels”, geared to take out all the weak hands before the real move comes.

      I’m short til the cows come home……

      Wait……they “are” coming home.

  3. Breakout Theory April 8, 2014 / 1:37 pm

    Been there done that….. and owed some to my broker. But I believe you’ll be back on top in less than a week.

    Without offending you, I’d like to say that your risk parameters in terms of position sizing may be the problem. I only cruz by your blog every once in awhile so I may be totally off here.

    In my experience, I believe that having consistent position size throughout all my trades adds an extra level of protection. But of course the drawback is, being right and wishing you had a larger position on winning trades. There is a sweet spot. Good luck.

    • Forex Kong April 8, 2014 / 2:08 pm

      There is no drawback to pulling consistant profits, and keeping your risk in check.

      I see amazing trades go by every day, and don’t even bat an eye

      It’s the one’s you “hit” that count…..let the others pass you by – without concern.

      There’s more trades than one generally knows what to do with so…….just keep putting em in the bank.

      I feel for “any and all” who may have followed me down the “short AUD” trade….especially Farhan, as it’s been painful and IS painful.

      I think my account may have several more “zero’s” in it, so it’s a bit difficult to illustrate “what I’m doing” / mirror what I’m doing “not knowing” the money management side of each individual.

  4. Jack April 8, 2014 / 4:55 pm

    So far so good but we need more weakness before this weeks close. I entered long $GBPAUD at 1.8840 and $GBPNZD at 1.9230 as my play on risk aversion. AUD is a pain but you would think that a 700+ pip rally needs to fizzle out soon. I plan to slowly build into sizable positions. Let’s see if I don’t get my face ripped off.

    • Forex Kong April 8, 2014 / 5:05 pm

      I’m there with you Jack.

      It’s been a long tough grind in AUD, likely taking out the majority of weak hands.

      For ANYONE getting on board “short” alllllll the way up here, I find it very VERY difficult to imagine it not working out.

Leave a Reply