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Trader’s Corner
We continue to set new records in
the Forex market during the month of March. Not only did we see
all-time lows on the US Dollar in March, but we also saw sure
signs of a US recession. To top things off, we saw amazing
efforts on the part of the Federal Reserve to save failing
investment bank Bear and Stearns and a helping hand to consumers
with an another ¾ of a percent rate cut. The Fed is pulling out
all the stops to keep the US Economy afloat. What caught us by
surprise was the market reaction to these events. March was not
a good trading month for the fundamental traders – when Dollar
negative news came out the US Dollar actually went up. On the
flip side when Dollar positive news came out many times the US
Dollar fell. Indeed traders were looking for a Dollar low in
March and once they found it, they were determined to see the
Buck rise – the last three weeks of the month the US Dollar did
just that. The same could be said about investors trying to find
an end to the Canadian dollar rise and the strength in the
Japanese Yen. The bias of traders and also the closed door –
over the weekend – efforts by the Fed to support the economy
caused long-term trends that had been set strongly in the month
of February to flounder. Therefore, we saw our Premier strategy
– long-term strategy – up almost to double digits in the first
10 days of the month, only to give it all back by the end of the
month. The Swing Trader – the On Target Trading System – found a
lot of great trading opportunities including one week with over
1,000 pips potential* trading the EURUSD, GBPUSD, GBPJPY, and
EURJPY. These market conditions are ideal for Swing Traders. For
the short-term trader or day-trader, the EurAsia strategy that
we introduced in our 2-day workshop this month had opportunities
every trading session to profit* from the large moves in the
market. All-in-all March was a great month offering many
opportunities to profit in the Forex.
April Outlook
In the month of April we will most
likely see the US Dollar gain a bit more strength as many
traders are getting more and more comfortable with the idea that
the US Economy is already in recession. Technical trading will
be king this month as the fundamentals will only create noise in
the markets. As for each strategy:
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Premier: We will use caution in being too
aggressive on adding new positions as most currencies are in a
corrective pattern of their overall direction. We will most
likely see things move foreward in the last two weeks of April.
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On Target: April will be ideal trading conditions
for the On Target. We should continue to see markets bounce back
and forth in large channels yielding three-wave serious with
each bounce.
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EurAsia: The Asian session has been a good place
to enter on the EurAsia strategy. The 5-wave pattern usually
finishes up during the EurAsia session with the larger market
scope breaking out into the European session. We expect to see
some great moves on this strategy.
March Results
Premier Aggressive:
-1.78% Moderate: -1.63%
On Target Aggressive:
4.92% Moderate: 2.46%
EurAsia Aggressive:
3.61%
The Two Big Moves
We did move our offices at the end
of March. We thank you for your patience during our phone
technical difficulties. Everything is up and running fine. Below
is our new address and contact information:
10543 South Jordan Gateway,
Suite 300
South Jordan, UT 84095
Phone: 801-447-5550
In addition to our move in March,
Richard Ottley, Senior Trader, will be making a move to the
other side of the world – the Philippines. The EurAsia strategy
has been showing signs of being our star account, yet it is the
most demanding due to the trading hours. Therefore, to make life
easier on us trading, and also to improve the performance on the
accounts for you, Richard is moving to the Philippines in the
month of April and will be there for at least four months.
Richard is excited about the move and looks forward to trading
during day hours and capturing more trading opportunities in the
managed account. Our advanced phone system will enable you to
call our local number listed above and have it ring in our local
office in Utah while also ringing Richard’s office in the
Philippines. We will keep you informed on Richard’s progress.
Call us with any
questions or to learn more about our managed forex accounts.
1-800-557-9776. |