I just caught a little bit of ” The Last Samurai” with Tom Cruise repeat here on T.V.
The spanish language adds a certain flare, especially when you’ve got actors in the movie speaking Mandarin/ Cantonese overdubbed in Spanish and in this particular case – along side English subtitles. Very entertaining to say the least as on many occasions, one or the other – or even two at a time…are completely wrong and make absolutely no sense at all. Talk about adding an entirely “new dimension” to your typical daytime television viewing.
Not so unlike the current state of currency markets – if perhaps you find yourself struggling. A singular perspective may not be enough.
Of particular interest a scene right near the beginning where an elderly man is captured by the Samurai, then given opportunity to “die with dignity” and take his own life ( via knife to the heart / chest ) only moments before his inevitable beheading. Perhaps similar to the feeling of “cutting one’s losses as opposed to having their account blown up.
A noble man indeed, if you really consider given the choice – thrusting the knife yourself – could you do it?
In any case – a dip, a trap, a buy , a sell , melt down, melt up , a bull , a bear, blah , blah , blah.
You need to stay true to yourself, as it’s you and you alone who lives ( or dies ) by the decions you made.
My trading has been going great, as we continue to nail the smaller swings with the larger framework firmly in place. I’ve taken small positions ( mid day yesterday ) long NZD and AUD vs USD, as well hit the counter trend move in JPY for additional weekend spending.
I don’t plan to be in these positions long at all, and will actively be trading throughout next week with thought in mind of playing this lil bounce for what it’s worth.
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75% of the time I have no fucking idea what you are talking about, but enjoy reading your work 100% of the time.
So, I guess that means that your blog is awesome.
Im trying! Im trying!
Damn thing being – I just can’t sit here day in and day out spouting off “levels and values, entries and exits” as that’s part of what motivated me to “start” writing at all.
I can’t stand that stuff! All these forex sites with their levels and values etc….yet no one actually trading!
Without some of the the human interest side ( as I assume you know I live in Mexico – get it? the T.V in spanish ?) I wouldn’t last another day.
In any case – all questions are also welcome so if something strikes you – just ask.
is it still ok to short AUD/JPY and other JPY cross this morning ? any input greatly appreciated.
No! Im playing these crosses on the long side here tio – along with this “bounce” in risk.
Remember the correlations we’d discussed as of late.
SP up = JPY down = Risk up
SP down = JPY up = Risk down
Here in central New Jersey we have a lot of “Samurai” moments at the local Chinese grocery stores. The stores typically have 1/2 Chinese and 1/2 Hispanic employees, which creates some funny moments. I know a bit of Spanish and my wife is fluent in Mandarin, so we can translate to each other via English.
So you get to see two guys struggling with a heavy crate:
“Let’s slide it over there.” in Spanish. “Can you help me lift this up to the shelf?” in Chinese. Meanwhile the crate is pulled in two different directions and goes nowhere.
Or two guys telling each other jokes, one in Spanish, one in Chinese. “I have no idea what you are saying, but it sure is funny.”
Hey Kong, why are people passing criticisms along when they are receiving free info? It is edutainment people. Enjoy it. Anyway, good work man and enjoy the weekend!
Don’t sweat it, my lack of understanding results from having no experience in forex or, for that matter, any knowledge whatsoever regarding the fundamentals of currency exchange.
You make it entertaining and interesting, which is no easy task.
Ok – that’s totally it – in a nutshell.
the T.V sub titles here (at times) are terrible unto themselves. My spanish is excellent and often I read what’s underneath and am like “what the ?”
Certainly keeps a guy on his toes….it’s fun too.
Thnx for the plug Jskogs – super thick skin on this end, and I’m not at all surprised to see / hear the odd person get a lil “hot under the collar”.
You can almost bank on the fact they are currently underwater in their positions, or have taken advice / placed trades as per “a complete strangers blog recomendations” that haven’t panned out.
I too marvel at some peoples “lack of manners” considering the information is provided at no cost. No thing to me.
Elizamae.
It does require a considerable amount of “back learning / research” in order to put the entire forex game into perspective. Hopefully over time you will continue to work at it, as it’s a fantastic tool in general.
I encourage you to continue reading here – as well, fire away with any and all questions you may have moving forward.
Thanks Kong as always. I know you bought short SP last Fri., then will you buy more short as summer goes or just one time buy and hold till fall?
Considering I don’t really focus on equities (yet) I will look at it this way…
The entry has provided absolutely “zero” risk as it has more or less moved in said direction within 24 hours so…..taking into account current volatility type math – if / when it moves far enough in my favor…I’ll likely double it…..and cover with a break even / or perhaps small loss type stop – and just forget about it. Essentially providing for a “free trade”.
At that point the physchological elements have been eliminated – and I could really care less what happens, as having 10 – 12 additional “irons in the fire” elsewhere.
Kong,
Your explanations have been very helpful. Much appreciated! As the USD/NZD affects me personally, I’d like to know if you have any long-term thoughts on the pair. I’ve read a few stories that believe shorting the AUD is the trade of the century and it could plummet another 30%. If so, the NZD tends to follow and is historically 10% below the AUD. That could mean about $.55 U.S. to $1 NZD in the next 12-18 months. Any thoughts on it yourself?
AUD difference between spec shorts and commercial longs is at record highs not seen since 93. In other words, the dumb money is in the trade. Wouldn’t be short it now.
Hey Mike.
Lots of thoughts yes – as the two do tend to trade similar.
Not to get into too many specifics of each (which I will do later for sure) – I fully expect both to take significant falls as global appetite for risk hits the skids.
I’m looking at whatever possible bounces we get in both (and if lucky – big ones) to get aggressively short.
Time line……always a lil tricky but as both are at solid levels of support – I feel the bounce time is here. How high she goes? – I’ll let the short term tech take care if it – and obviously post as things develop.
In any case…I would look at this next / last pop – as an excellent time to jump onboard short – for a big ride down into late 2014.
Sorry damn question, but why nobody worried when yen was 76ish a while ago, then up to 105ish and down 94ish, suddenly everybody talks about even scared about ? Please enlighten me Mr. Kong.
My thoughts exactly as the current retracement is completely and 100% normal…in fact has room to go!
I feel that the majority of people don’t “really” understand it much past hearing about it in the news ( all to late mind you ) as the phrase “Carry Trade” finally comes out from the shadows in mainstream U.S media.
The Carry Trade as seen via long term USD/JPY charts isn’t unwinding at all ( it’s only just getting started!) – as it unwound (from use of USD) through most of 2011 and 2012 ( that’s how long it takes to unwind a trade of this size).
Now with the Yen solidifying it’s place at the bottom of the interest rates pole ( as U.S will be forced to raise sooner) JPY will be sold here on out.
This is just a pullback in a very normal / every day / regular pattern of zigs n zags.
Cannot imagine viewing ” The Last Samurai” overdubbed in Spanish and in this particular case – along side English subtitles.
More confusing than currency trading. I, much like EM’s comment, cannot wrap my brain around PIP’s but certainly enjoy all your posts.
Thanks, Kong..
😉
Thanks Kong ! Have a good weekend.
Thanks Kong, I’m hoping it plays out sooner than later.