Nov 27, 2009

Big Forex Moves

Hi Guys,

The good thing about trading forex is that global events can move currencies up or down in a big way. If you are equipped with the right knowledge you can easily capitalize on such moves and make some good money.

Yesterday trading on the London Stock Exchange was halted when a group from Dubai issued a statement stating that they seek to delay the repayment of their debts. It is believed that the figure is somewhere around 80 Billion US Dollars. When news of this got out the markets immediately reacted and investors started pulling their money out which saw the USD and Yen pairs gaining strength.

I managed to get a nice bite out of this action as you can see below (Click HERE or on the picture below).



As a matter of fact, I could have gained much more if I had stuck on to my plan but I sold off some other positions earlier. Oh well, I'm happy enough with 965.7 pips in 1-2 days.

I am now working towards building my account size. On a decent sized account, such moves in the forex markets could easily get me a car in 1-2 days! Now that would be nice....:)

Happy Trading,
Leo

Posted by Leo Ong at 9:00 PM
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