NFP announcement tomorrow — NFP is infamously the most volatile scheduled monthtly economic announcment in the Forex World. Surprising numbers in either direction could give us our trends in the short term. Higher than expected numbers, expect ...

Maxsmarts Trading Journal and Discussion

Volatile nfp — I really like the idea of your risk to reward ratio 1:8 to trade the nfp. Hopefully it works out for you. As we all know nfp can be choppy as sh*t. The first movement is not neccesarilly the follow through movement like we saw ...

EURUSD

ECB interest rate announcement tomorrow. — Our Aussie trades are doing well. However, the Eur/USD is coming along slow with its weak economy. Tomorrow, I will be watching the ECB interest rate announcement and Trichets comments for direction ...

Maxsmarts Trading Journal and Discussion

Buying a call here strike @ 1.50 with to expire June 18th. Initial targets 1.55. Spot price is 1.50 currently. Premium payed $2,900. Exiting Put position on the Eur/usd @ 1.3150 during this pull back for a loss. Selling option back for $1,600. So a ...

Maxsmarts Trading Journal and Discussion

Weekly descending triangle — Here is the chart for the triangle

Maxsmarts Trading Journal and Discussion

EUR/USD breakout? — Yes, currently I am long at 1.3264 and yes, I am targeting 1.3725 resistance zone. And the reason I took this position was on the breakout of the descending channel on the daily chart for the eur/usd. Once there was a close ...

Maxsmarts Trading Journal and Discussion

Big breakout on the AUD/USD — Long spot Aud/usd here at .7390 targeting .7900. Stop loss at .70

Maxsmarts Trading Journal and Discussion

Great example how options help profiting in forex — Currently I am long with the spot here at 1.3264 from open as I said I would be to take adavantage of risk appetite. Should there be a weekly close above 1.34 we should easily reach 1.3725 ...

Maxsmarts Trading Journal and Discussion

Poor economic fundamentals yet risk appetite remained strong — In the face of extremely poor funadamentals: including but not limited to chrysler filing for bankruptcy, poor negative GDP number, and the swine flu outbreak, equity markets ...

Maxsmarts Trading Journal and Discussion

Exiting early on swan flu worsening — I'm exiting my position early on swine flu concerns here at 1.3300.

Maxsmarts Trading Journal and Discussion

long spot eur/usd — Long spot position eur/usd here at 1.3245 1 lot. We have a breakout of the descending channel on the daily chart. So I will be targeting 1.3725. Confirmation will be a weekly close above 1.34 that will signal the end of the ...

Maxsmarts Trading Journal and Discussion

Exiting long spot eur/usd spot position — I'm exiting my long eur/usd spot position from 1.32 here at 1.3330 before the Fed interest rate announcement for a $1,300 profit. May re-enter after announcement if comments are rosy about the economy.

Maxsmarts Trading Journal and Discussion

Bought Put on eur/usd — I bought a 2 lot put on the eur/usd @ 1.3150 to expire May 14th on the swine flu and risk aversion. Targeting 1.27. Premium payed $2,760.

Maxsmarts Trading Journal and Discussion

Descending Weekly triangle update on the eur/usd. 1.34 and its over — Well this weeks close could spell the end of the dollars strong trend in place for a few months against the Euro. Fridays close above resistance at the 1.31 level ...

EURUSD

Descending Weekly triangle update on the eur/usd. — Well this weeks close could spell the end of the dollars strong trend in place for a few months against the Euro. Fridays close above resistance at the 1.31 level invalidates the breakout ...

Maxsmarts Trading Journal and Discussion

Stopped out of eur/usd for loss went long on announcement — I was stopped out at 1.32 for a 220 pip loss = -$2,200. I went long a 1.32 on the better than expectations IFO report. targeting 1.33

Maxsmarts Trading Journal and Discussion

German IFO report tomorrow — The German IFO report is notorious for creating alot volatilty in the eur/usd. Predictions are for a mild increase in the number. With conditions in europe worsening I am expecting a disappointing number. However, ...

Maxsmarts Trading Journal and Discussion

Existing Home sales fall in the U.S. — Its interesting to note that the announcement of falling home sales in the U.S. weakened the dollar against both the yen and the euro after the announcement like in the days of old pre-dollar safe haven. ...

Maxsmarts Trading Journal and Discussion

Euro data surprise. — all eoro data came out above expectations. Another surprise. This is making the euro broadly stronger.

Maxsmarts Trading Journal and Discussion

Expecting further weakness in the euro for the rest of the week — I am expecting weakness to resume in the euro as more pmi, current account, and business climate come out tonight. I expect them to all accentuate the ongoing weakness in the ...

Maxsmarts Trading Journal and Discussion