You shouldn't trust anyone that thinks they know something 100%. When I give people advice about anything I'm careful to convey that possibility that I very well could be wrong and not know it. I strongly dislike people that claim there is a single best way to do or think about something.
The power that the written word has is often beyond what it deserves. Authors are people and people gets things wrong on a regular basis. You either have to have quite the ego or don't care how you are perceived to be brazen enough to tell others how to live their lives or manage their money.
FYI I'm including myself somewhere in there.
Friday, February 26, 2010
Wednesday, February 24, 2010
It's not what you know
It's who you follow.
Today there is more information flying around the world than ever before. This leads me to believe that now more than ever it is important to filter through all of the data analysis and recommendations.
I am a firm believer that the integrity of the data is more important than the data itself. The Medium Is The Message kind of philosophy.
Finding sources for information you believe in is at least as important as the information itself. Why would I do equity and currency research and analysis myself when someone has already done it and it is just waiting to be found.
Today there is more information flying around the world than ever before. This leads me to believe that now more than ever it is important to filter through all of the data analysis and recommendations.
I am a firm believer that the integrity of the data is more important than the data itself. The Medium Is The Message kind of philosophy.
Finding sources for information you believe in is at least as important as the information itself. Why would I do equity and currency research and analysis myself when someone has already done it and it is just waiting to be found.
Friday, February 19, 2010
Update
USD/CAD Down of course. Told you so. I exited half of my short position over the USD here as a chance to take profits. I'm probably going to re-enter if the pair trades above 1.055 maybe even above 1.05 if a reversal looks clear.
BAC back at $16. Wish I had bought some $15 calls when it was trading at 14-14.50. If it ranges back down there I will look to do so.
Thinking about the slight possibility of a massive downturn in 2010 it might be a good idea to purchase some insurance via way-out-of-the-money puts on some big names due in Jan 2011 or 2012.
BAC back at $16. Wish I had bought some $15 calls when it was trading at 14-14.50. If it ranges back down there I will look to do so.
Thinking about the slight possibility of a massive downturn in 2010 it might be a good idea to purchase some insurance via way-out-of-the-money puts on some big names due in Jan 2011 or 2012.
Tuesday, February 16, 2010
Open Sesame
I wish the markets had been open today (yesterday now I guess..).
Since I need to build up some street cred I'm going to throw it out there that CJT.UN is going up soon. Ya feel me?
Coming in second in terms of certainty; the USD is going down down down down down. Yes, like the chris brown song. Maybe not against the Euro because they still have silly countries going bankrupt over there, but against the CAD. Think of it as a commodities play if you're looking to justify going long CAD.
I got rocked on my natural gas play. I had a nice double down that saved me from a large loss, but I still lost -25% on one position in HNU.TO. Let that be a lesson to me my friends. Double ETFs are Satan reincarnated into equity form. If you don't believe me go buy one.
Since I need to build up some street cred I'm going to throw it out there that CJT.UN is going up soon. Ya feel me?
Coming in second in terms of certainty; the USD is going down down down down down. Yes, like the chris brown song. Maybe not against the Euro because they still have silly countries going bankrupt over there, but against the CAD. Think of it as a commodities play if you're looking to justify going long CAD.
I got rocked on my natural gas play. I had a nice double down that saved me from a large loss, but I still lost -25% on one position in HNU.TO. Let that be a lesson to me my friends. Double ETFs are Satan reincarnated into equity form. If you don't believe me go buy one.
Tuesday, February 2, 2010
Paper Money
Currencies are a fickle bunch. A trader's dream, most definitely. The amount of leverage and liquidity available to a retail investor is outstanding and unrivaled.
Being a Canadian and needing to access the US for the plethora of publicly traded companies there I needed a foreign exchange account to hedge myself against an unprecendented drop in value of the greenback.
I've found lately that shorting the USD/CAD pair has been childsplay for banking coin. The 500 pip jump this week in the pair was a kick in the pants but you know how much I like to add to trades when they start losing. I'm shorting that pair back into the depths of 1.02 if it costs me my account. Have no fear, I have less than 5% of my investing capital in forex. I'm not That crazy. I just think it's a good trade.
And just so you know I ain't playin'
Being a Canadian and needing to access the US for the plethora of publicly traded companies there I needed a foreign exchange account to hedge myself against an unprecendented drop in value of the greenback.
I've found lately that shorting the USD/CAD pair has been childsplay for banking coin. The 500 pip jump this week in the pair was a kick in the pants but you know how much I like to add to trades when they start losing. I'm shorting that pair back into the depths of 1.02 if it costs me my account. Have no fear, I have less than 5% of my investing capital in forex. I'm not That crazy. I just think it's a good trade.
And just so you know I ain't playin'
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