Adam Horak's Blog – March 2009 Archive (5)

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Real gross domestic product -- the output of goods and services produced by labor and property located in the United States -- decreased at an annual rate of 6.3 percent in the fourth quarter of 2008, (that is, from the third quarter to the fourth quarter),

In the week ending March 21, the advance figure for seasonally adjusted initial claims was 652,000, an increase of 8,000 from the previous… Continue

Dollar collapsed yesterday following Fed's announcement to ramp up the money printing machine to purchase up to $300b of long term treasury securities and expand purchase of mortgage backed securities by $750b and agency debts by $100b. The selling in dollar subsided a bit in Asian session but after all, the greenback is still under tremendous pressure against major currencies. On the other hand, yen crosses are generally lower today on profit taking and repatriation flows as well as talk that… Continue

MONEY MANAGEMENT



Most beginning traders believe that a good entry into the market is the key to success. Unfortunately most are very wrong. Money Management is by far the most important criteria of trading, whether it’s stocks, futures or FOREX. Every successful trader will agree that managing your trades correctly is the #1 key to consistent profits.



Loosing a trade or several trades in a row is just part of trading, period! Having a plan and trading your plan is key to… Continue

• USD starts firm in Asia, weakens into Europe

• G-20 seen as a disappointment

• Volumes light and technical trade continues





Today’s Economic Reports

All times EASTERN (-4 GMT)

• 8:30am USD Empire State Manufacturing Index

• 9:00am USD TIC Long-Term Purchases

• 9:15am USD Capacity Utilization Rate

• 9:15am USD Industrial Production m/m

• 1:00pm USD NAHB Housing Market Index





Looking Ahead to Tuesday

All times Eastern… Continue

trade set up. entry point, stops, adjustments and profit target.