32 Responses

  1. Dress February 6, 2015 / 3:06 pm

    Dramatic post!

    • Forex Kong February 6, 2015 / 3:42 pm

      Closing red on the day?

      Those “in the know” know exactly what today was…..a complete and total “retail rinse job” on bogus Jobs number from the U.S.

      Down , down, down we go next.

  2. madness February 7, 2015 / 1:44 am

    Dramatic statement indeed (which I do believe).

    However Kong, past 6 years has made me very cynical. Powers that be will try and pump up usdjpy on Sunday evening thus pushing up equity futures. A few manipulated positive”headlines re. “Eu can cope without Greece” etc will push up futures some more, oil prices rally a little (ignoring the huge price discount the Saudis just offered Asia) and voila, risk will find reasons to stay elevated and in control. Cynical as I said!

    Was watching cadjpy which seems to be the defacto oil based equity rally marker at the moment and it gave back a big proportion of it’s gains after EU closed so yes, risk is turning down. Dow holding on for dear life at 17.8k figure – just look at last few minutes of trading in this – manipulation or what?

    Even the great “the fly” seems to be getting rather frustrated and annoyed at the markets of late. How I long for the days when prices were based on valuations and sensible risk taking rather than the crap that comes out the mouths of Central Bankers and politicians.

  3. Anonymous February 7, 2015 / 7:23 pm

    You Kong, obviously know nothing about the good ole USA, or the people that live here. You shall continue to lose as long as your hatred for the USA continues. If you are going to trash the USA’s numbers, (“Those “in the know” know exactly what today was…..a complete and total “retail rinse job” on bogus Jobs number from the U.S.”) then provide solid evidence of your accusations, otherwise what kind of man are you?
    I believe you are unable to perceive/grasp the actual high integrity of the US financial system, a model for all countries that want to achieve greatness.

    Granted, I am a loyal patriot.

    • Forex Kong February 8, 2015 / 6:41 am

      I can appreciate where you are coming from however, and unfortunately…

      Patriotism has absolutely no part / plays no role in Forex trading.

      If is was just as simple as “loving your country” and putting your hard earned money at risk with “partiotism driving you” well, I guess everyone betting on the U.S would be filthly rich right? I would imagine that the entire country would be “basking in it’s glory” as opposed to the current scenario where only the top 1% hold some 85-90% of the countries wealth.

      I have no hatred for the U.S – none at all…..but I certainly don’t accept / appreciate the never ending wash of blatantly “phony numbers” coming from the one country with the most influence on the main stream media. It really doesn’t help anyone in the long run as I expect ( coming here soon if not already ) most retail players in the U.S stock market will find themselves in trouble.

      As for the jobs number this month, I’m not sure I’ve ever seen / heard something so ridiculous in the face of a crashing oil industry, many many job layoffs, flat lined unemployment ( actually on the rise again ) a rising dollar ( crushing exporters ) and the seasonality of “January” ( where for the most part…..”zero hiring gets done” as opposed to Nov / Dec for the Xmas season).

      Patriotic or not…you’d seriously have to question how The U.S “killed it” here with the new jobs added. It’s really just common sense, and would be equally applicable if we where discussing “any country” under the same circumstances.

      But you’ve allowed your partiotism to cloud your judgement. This is “trading forex” not “which country is best”.

    • purdy February 11, 2015 / 7:31 am

      Anon, How is it patriotic to blindly accept statements from authorities? A patriot is loyal to principles, like maybe those outlined in the Declaration. And he sees it as his duty to question state power – not to worship it as you appear to do. If you haven’t learned this after living in this country since 9/11, you just aren’t paying attention.

    • Forex Kong February 8, 2015 / 6:46 am

      This article is about as thin / unsubstanciated as it gets, with the title itself once more re enforcing my views of the “con game” going on in America.

      An article “actually suggesting in it’s title” – that rising unemployment is good?

      You’ve got to be kidding me.

  4. guy February 8, 2015 / 2:26 pm

    Just trade in whatever direction price is going lol. SIMPLE.

  5. mark February 8, 2015 / 4:25 pm

    So if your selling risk the dollar up?

    • mark February 8, 2015 / 4:25 pm

      that’s usa dollar?

      • Forex Kong February 8, 2015 / 5:44 pm

        No Mark.

        The U.S Dollar has been ramped along side equites for months now….

        It’s “sell USD” as per my plans to “Get short USD In January”.

        Just took a little longer than expected.

        • mark February 8, 2015 / 5:51 pm

          The us dollar is not a risk currency though. It is as safe as it gets. I do hear you though, but why would the headline be sell risk now?
          Is that sarcasm? lol

          • Forex Kong February 8, 2015 / 6:08 pm

            Selling risk equates to “risk off” as “buying risk” would be bullish on U.S equities etc…

            You “sell risk” when you have “bearish considerations”.

            What people fail to understand in today’s markets is that….USD isn’t the “safe haven it once was”.

            Watch how it falls “along side” risk sentiment in general here, and you’ll get the jist.

  6. Anonymous February 8, 2015 / 7:30 pm

    Would you mind telling us your idea of a good long entry point for the eur/usd?

    • Forex Kong February 8, 2015 / 8:46 pm

      Right now with your first order – stop 50 pips under the low at 1.1290 area

      • Anonymous February 8, 2015 / 8:58 pm

        Thank you!

        • Forex Kong February 8, 2015 / 9:00 pm

          Understand that I always create at least 3 smaller orders “over time” as opposed to picking an exact level and “going all in”.

          things can trade sideways for days, weeks and even months so you “leg in” a small order here, a small order there catching the larger turn “buying / selling ” around the horn.

          Hope it helps.

  7. madness February 9, 2015 / 9:16 am

    See my comments about being cynical. Just before US equity market open, slam the usdjpy and ensure oil is rallying thus ensuring a flat US equity market. No amount of bad news is bad news as far as US risk markets are concerned and no amount geo-political or macro fails is seen as risk negative in US.

    As long as oil keeps a firm footing above 50.00 and us bonds are selling off and usdjpy is above 117.00, don’t think risk off will materialize in any substantial manner.

    Looks like too many people afraid to miss out on any potential rally so bid risk up far faster than it falls. At present, very little fear.

    • Forex Kong February 9, 2015 / 10:15 am

      We are only a couple hours into trading on the first day of the week.

      I don’t “bounce around” making changes / getting whipsawed on such small time frames – it’s pointless and a great way to go broke.

      SP still can’t push past 2050 area going what…2.5 months now so…..today is “Just another day” until something “real happens”.

  8. madness February 9, 2015 / 10:31 am

    I agree but lets face it, in order for things to break downwards, risk assets need to show signs of fear and of breaking down. Yet at present, oil is higher, usdjpy is holding above 117.00 and US equities look like they looking for an excuse to break upwards and end the day up.

    S&P is currently 2055 and a few percentage points from it’s all time high. You’d certainly expect it to be much lower if there was any evidence of it showing signs that there is some panic in the system. if it’s holding near all times high despite all the geo-political and macro weakness over the past 2.5 months, what makes you think it will fall on no news?

    My take is very much that we’ll need oil to give up 50.00, usdjpy to give up 117.00 and tlt’s to be bid again for risk off to materialize. These are the asset groups that will move first before risk falls.

    • Forex Kong February 9, 2015 / 10:34 am

      Sounds good madness so….

      Are you gonna wait until all these things “have already made the move”? or……perhaps ( as I’m looking to do ) be fully invested in the trade “before hand”?

      I’m not remotely interested in “timing it perfectly” as…..we’ve spent 2,5 months going nowhere.

      Bulls think they are right for a day or two…then bears…..then bulls – back n forth so….

      Pick a side and stake your claim! It’s a trade ma man! Nothing more…nothing less.

  9. madness February 9, 2015 / 10:56 am

    I’d rather wait for a signal that these asset groups have at least started to fall before I start building my my positions. Since last week, they have all been rallying and today’s slight fall means nothing in light of the hefty rises last week.

    I totally understand your point of view in that best to get in slowly with small lots but as past 6 years have shown, these are not normal markets anymore, way to much CB intervention and the traders are more interested in what CB’s and politicians say than fundamentals so why tie your capital up holding on to losing positions, even if they are very small.

    I do believe that when/if the fall starts, it will be deep so even a percentage or so missed, won’t be an issue.

    They say never short a dull market and look at price action today, dull with absolutely no fear at all.

    • Forex Kong February 9, 2015 / 11:43 am

      All good man….although I certainly think there is “some fear” out there – no question.

      I hate looking at it ( as it’s just another Wall St. gimmick ) but The $Vix bottomed back in June.

      Fear is “up” as compared to some months ago.

  10. purdy February 11, 2015 / 7:28 am

    Anon, How is it patriotic to blindly accept statements from authorities? A patriot is loyal to principles, like maybe those outlined in the Declaration. And he sees it as his duty to question state power – not to worship it as you appear to do. If you haven’t learned this after living in this country since 9/11, you just aren’t paying attention.

    • Forex Kong February 11, 2015 / 11:51 am


      Very well said.

      People get so “emotional” about it all….this country that etc…

      It’s about the movement of money around this planet last time I looked, not sure where “patriotism” fits in.

  11. M February 11, 2015 / 9:36 am

    I think USD just top here along with usdjpy kong.. what do you think..

    • Forex Kong February 11, 2015 / 11:51 am

      Yes. The Dollar rinse is now complete.

  12. madness February 11, 2015 / 10:38 am

    Hear what you saying about SVix but I hate that index as it’s too open to manipulation. How many times has that index been easily sold off in the last half hour of trading to allow for a bounce in US equities?

    A bigger and much more difficult market to manipulate is the bond market. We are now seeing in the US 10 year yielding over 2%. Until this catches a bid (bond prices up which equals yield down), risk will not materially fall off. The US 10yr yield pushing above 2% has caused the usdjpy to rally over to 120.00 with great ease. Until this reverses, do not think we will see risk off.

    Risk seems to be ignoring Oil prices for now. All eyes on TLT and usdjpy. Keep eye on this. If TLT’s continue to fall thus supporting positive yield against JPY, expect JPY to keep falling hard which will be supportive of risk.

    Of course, news out of Greece today can over turn everything I have written but thought your readers may appreciate the relationship between TLT, usdjpy and risk as it currently stands.

    • madness February 11, 2015 / 10:39 am

      I should add, provided you agree of course. No intention of standing on your toes with regards to your readers.

    • Forex Kong February 11, 2015 / 11:55 am

      Great stuff madness as yes indeed these assets need to be watched closely however….

      There are a number of factors that influence each “unto themselves” that also come into play.

      Bonds are “stil” a vision of safety for retired folk, and those still just “buying what the U.S media machine is selling”.

      What we need to see is a “global concern” for U.S ability to service it’s debt. It will come as the debt load is impossible but….will it be a factor in the current “near term” risk scenario?

      So we will see.

Leave a Reply