by Rafael Rosa on July 30, 2010
Leverage is pretty popular in the currency trading world. Regulations typically allow traders to leverage themselves up to 50:1 or 100:1. Sometimes, there are online brokers that allow accounts to reach 400:1. In general, these capabilities only work to make you lose money as traders stack up on leverage and wipe out their accounts, fast.
When I first started trading FX, I had my fair share of $25 and $50 dollar deposits. Overall, $50 would become $150, but only to [...] Continue Reading…
by Rafael Rosa on July 19, 2010
The decision day for the Canadian Dollar is almost here. On Tuesday (UPDATE: 9:00 AM Eastern time), the Bank of Canada will release its interest rate decision. The consensus is that the BoC will increase its key interest rate for the second consecutive time from 0.50% to 0.75%. The historical rates can been seen in the graph below:
Click on image for full-size
Last week, we looked at some possible ass-kicking trades in the Canadian Dollar. On the USD/CAD daily chart, [...] Continue Reading…
by Rafael Rosa on July 11, 2010
The Canadian economy is doing some serious ass-kicking. It even reminds me of President Obama (see extremely hilarious video below):
As a result of this ass-kicking, the Canadian Dollar is being Chuck Norris-like and gaining across the board. The latest catalyst contributing to the appreciation of the Canadian Dollar was Canada’s jobs report. According to Statistics Canada, employment increased by 93,000 in June, following gains of 24,700 in May and April’s record 108,700. The unemployment rate, which was expected to [...] Continue Reading…
by Rafael Rosa on July 1, 2010
Guess who’s back?
It has been more than two months since my last post. Indeed, times does fly. Since I’m now done with school, I expect to be posting a few times a week from now on. Finals, senior projects, and other school-related activities took me by surprise in May, which required me to take some time off from the blog.
It’s like Michael Jordan returning to the NBA….
LOL
by Rafael Rosa on April 26, 2010
Last week was a great week. I racked up 619 pips (highest tracked-week yet) on light trading. Some of the profits came from short Yen positions held over the weekend. A substantial part of profits also came from positions on the Canadian Dollar. Mid week I had recommended looking at the Canadian crosses for possible plays (See post, Blame Canada! Loonie Strength on Speculation of Interest Rate Hike). All three discussed Loonie positions played out very well.
Trade ideas for [...] Continue Reading…
