I trade, and I trade well.
I have my bias sure ( as I am generally short humanity and long interplanetary travel ) but that’s beside the point. In order to trade well, one needs to put these things aside. I do my best to remain indifferent to market direction but.. even for us pro’s – this is often easier said than done.
If you look back at the bulk of my writing over the past years..you’ll see that I’ve matured. I’m not as angry as I once was “back in the day” when I first came to fully understand the degree to which markets are manipulated / designed. Now I don’t mean “markets are rigged” as….the stock market is only a simple reflection of human activity/sentiment on any given day ( you can’t rig that! ) but more so “the mechanism” through which we participate. The pre and after market activity for example, the stop runs…the central bank interventions, the media spin etc. All generally geared to rip your face off…and grind your bank account to dust.
I’m cynical to say the least. Can you really blame me?
That being said….I love every single minute of it. It’s my passion and I will never stop.
So here we are at an interesting junction where….I myself am presented with a conundrum of sorts, short of the many years experience and the “current knowledge / abilities” to see myself through.
I don’t want to buy dollars. But I’m going to.
The “old Kong” would have found any and every argument under the sun to justify / support the argument for the “continued demise of the American Dollar as the world’s reserve currency” and while this may hold true on much longer time frames – today’s not the day.
Grow people. Learn from your mistakes. Keep an open mind. Trade like a demon.
Kong getting long USD here tomorrow!
Forex Kong Gets Long
Good stuff Kong! Appreciate your insights
Fucked up i did had a great run but got nailed on gold last night. Hitting strong resistance but the dumb fuck I am thought it might push through
Then on top of that fed minutes and all these bloody fed heads talking nailed me
Tough one Tas….but hang in there – you’ll make up for it here on the next one.
I absolutely love your blog, but this dollar-is-trash attitude was always a little professional 🙂 Glad you put that behind I a am long dollar too.
*unprofessional
Thanks Nyen..really. I appreciate the honesty.
Admittedly I did go through a bit of a “rough patch” during the days of constant CB intervention and the massive USD printing insanity. It’s still pisses me off when you look at it from an American citizen’s perspective. Seeing all that funny money come into play / watching the Wall St. gang mop up while unemployment lines kept growing.
We’ll see some major USD fallout in the future no doubt, but for today – let’s just concentrate on putting a few more of those dollars in the account!
U mean buy usdjpy?
Yes Peter, but do keep in mind…
This isn’t some “hot stock tip”. You know how I generally go about this…
Small orders over time once you’ve identified a time/price where a large reversal is likely to occur. Don’t go “all in” at a single price on a single day.
Buy around the horn, and be there for the “straight bits” once the reversal has completed. There is rarely a “perfect entry” so this strategy helps to eliminate the concern for it.
Long USD/MXN for me at these prices (18.44 to start).
Mr. Kong – I hate to have an opposing view (there is a buyer for every seller) but my robot “Cold Heart” (its unemotional) is currently long EUR (short USD) since 8 PM and ITM.
A few days ago it exited the long side approximately when you commented that you were going to close your trades and booked a nice profit (67%) only to re enter long again and book another gain yesterday (14%). It entered long again this AM only to be stopped out at 12PM Eastern. (A -4.5% loss sadly you cant win them all but would sure would be nice to…. lol).
My ITM trade has made up for my earlier loss so the only thing that was lost was time. And time will tell if this trade makes me happy as Hell or take a loss and yell…
Opposing views are great Solomon.
Indeed there are always two sides to every trade, and depending on ones timing / time frame / trade plans – everyone can win!
Within such a small window of time, tough for me to know exactly what you’re looking at, but looking out a little further – USD “should” be due for a reasonable bounce. Only an 80 pip range over past few days vs EUR ( less than 1 cent ) so….we’re dead locked man! Lol.
Stay nimble…don’t marry your trades, keep positions small and keep on rockin!