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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (67795)	2/13/2003 12:14:00 PM
From: chomolungma	Read Replies (2) \| Respond to of 70976

I've decided to stay away from currency markets :) I've had some good luck at the currency markets. My first attempt was was the hook when I went long the yen in 1985 when it was at 39. Within 3 years it was at 83 and after 10 years peaked out at around 130. I, of course, missed the great majority of the move despite my economics being dead on. I went long the dollar in the mid 90's but once again got out way too early. Then I started shorting the dollar a few years ago, held on while it went against me and made money during the last year. Despite being horrible on some of my sales, I have made excellent money. I look for long trends that are shaping up and stick with them. I've always felt that the key was position size. Take a modest position and be willing to ride out the swings against you. If you take a large position, you have to be very disciplined about letting it go against you. The currency markets are notorious for trending way past where they should go, but that spells opportunity for those who can (or think they can) analyze the fundamentals that will bring markets back into balance. I also consider the possibility that I've just been very lucky. <g>