The Legend of The Gambler - page 46
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Make that 40 stupid people that probably think you're stupid.
Learn to count
With the way we are going, there is a lot of people saying we are headed to Japan's fate of the lost decades. Some speculate that China will float their currency in the future and that Yuan will become the reserve currency. The huge imbalance of debt and surplus between the rest of the world vs. China must be reversed in some way.
This way leads to many extreme scenarios which I would hate to imagine.
The government is trying to prop up the system with a glut of printed money and support a weak dollar to try to reverse the trade imbalance. They are trying to reinflate the market and economy through sheer government intervention and public propoganda of a recovery. The low interest rate by the Fed is trying their best to keep the economy going, but when you already hit the bottom of the barrel for interest rates, you need a real economic downturn to flush out the system...which is a good thing, not to try to support the whole bubble with a government bubble. I just don't understand why the government can't let failing businesses fall. It's natural. The meager shall rise, and the wasteful should fall. Yet, the government will not allow this. So we are stuck.
Even in today's aftermath of the lending disaster, banks are still allowed to give out risky loans. The government should demand that low interest rates are only given to borrowers who can put down 20% of the mortagage. Borrowers need to put down some collateral, so they can't simply walk away when their investment drops. People are still getting 5% down payment loans, or interest only loans....ummm, did we learn nothing?
Good numbers are still coming out for the US, however, it is all government sponsored. Jobs are created with government money, and the underlying problem is still there. We cannot live forever on debt, there needs to be a return to true lowered value before a true recovery can be sustained. The Fed is diluting the dollar to try to mitigate the problem and hopefully help the US exporters...the problem is...US doesn't manufacture anything to export.
There are so many issues with the US, it's a subject on its own to how exactly it's going to be balancing anything- but one thing is certain the world depends on the US dollar.
Gold and both Oil are US denominated, hence the large holdings in treasuries by several of the largest importers of OIL and treasury countries stockpiling on gold and the US dollar.
As much as the US is printing money, there is a certainty to that if the dollar implodes- so will everyone else. The biggest importer of US debt is China, and the being importer for China is the US. So what happens if the US dollar implodes, the the US economy crumbles along with the several other nations financial structure?
It's obvious, its not in the best interest for China to have its biggest importer disappear, neither is it the interest for any other of the countries to lose one of the largest parts of the financial network to hyperinflation.
So what happens now? Talks between countries of changing the world reserve currency to the Euro will bring an influx of US supply, the US dollar will hit its 8 trillion dollar printing spree, and inflation will hit like a rock destroying the underlying value of the US economy, and maybe even the Canadian economy as a large result of the close proximity.
We'll become the next Zimbabwe inflation occurs, the real buying power of the dollar disappears and investments unable to keep with the inflation begin to rapidly lose their international value. Investment outflows will increase, and the US dollar will become worthless- along with several major countries investments portfolio's in ruins and or credit being massacred under their lending rates.
Will it happen? Politically- no. That's why people still maintain a strong holding of US and a strong belief in the US currency.
Without the US, there is no more capitalism. Without capitalism there is no more financial network- globalization will bite its greatest disadvantage.
Well, it seems that even though I had asked the COINTHL signal provider to cancel my subcription and unsubscribed in RAS. I was still getting charged $100 per month fee since April 2009 when I asked for cancellation. DOH!
I've contacted the signal provider directly, and he's responded to refund my money. He is a honorable man to do so because many would have just taken the money and ran.
And I'm very disappointed with the whole RAS experiment. Even when they end the signal, they don't have any method of canceling the paypal subscription, happy to take their fees.The signal provider was a honest man, and he returned the part of money minus all the RAS has taken out. I recovered about 50% of the paid fee, and I'm happy with that. I wish him success in the future with his trading.
It's about 4 am, and I just stayed up all night trying to figure out some ideas on forex from a kind PM. It is thought provoking, and I have a long day tomorrow as well...but I can't sleep with these thoughts running around in my head.
I have applied for the mbtrading MT4 beta for live trading. Hopefully, in the next few weeks, I will be set up and ready to trade. I'm definitely attracted to the low spread, and even with the commission factored it, I would still be saving 1-3 pips per trade just on entry, and then I could get filled at my TP with a slightly higher %. I figure I can save a thousands of dollars per year over my current broker.
My only concern is the TP and SL cannot be sent with the original order, how would one go back and refill those parameters after the trade is in?
Well, I put in a few pending trades today. I have my new negative RR ratio system worked out, and let's hope it squeak out a few pips for me. It is based on low volatility, and hoping for small sideway movements to capture some of the safe sideway pips. Yes, a few bad trades can wipe out the smaller gains...so it is definitely a work in progress.
Anyways, here goes. This account is the one that I had a margin call for the RAS signals experiment. It went down to around $1300. I traded on and off, and it is at around $1800 right now.
I'll just update the equity, and the number of wins and losses per day. No trade details anymore because it is too time consuming, just want to keep a record, and see if I can rebuild my tortoise account back.
Every journey starts with a single step. I hope to build this back to a respectable size.
I don't plan on holding more than a day, and I will have a TP and SL per trade.
The first step was a stumble.
2 trades last night on USDJPY. 2 Losses.
Used too high of leverage there, LOL.
Equity at $1440.
Oh well, try again.
2 more trades last friday, and 2 more losses.
Now equity down to $950ish.
More stupid trades.
Since the MT4Stat website is really not working for me, I decided to look at alternatives. I stumbled onto:
It has way more functionality, and I can keep my trades public or private, and just broadcast the wins and losses. This seems much smarter to me, and I feel it is a safer alternative to just broadcast all the details.
I will sign up to this site later.