A couple of good friends, from my “eco” group, requested me to do all the paper work for opening a forex account. I suppose to design the strategy and show them what I got when I finished. They wanted to start with US$200. In part this is what made to stood still and do nothing.
If I had opened the account I would have gone long the euro back then on July 09. Buy at 1.4150 and today the mark to market is 1.4565, discretional trading. But I would look for a weekly positional strategy.
Although the average daily volatility would have squeeze the $200, I have this feeling of frustration for not getting long in that long term rally.
1) I don’t have the amount of $ for establishing a positional system [taking that volatility].
2) I am focusing on scalping the Oil. Either with USO or long in-the-money-options in the futures.
3) I really have no more space in my daily agenda for deepening in market study. I think this will be possible about the end of 2010.
4) For now, I rather build the sources that feed the trading account and do research in the mean time.