"Diversification is an excuse for a lack of talent" ~FXC
- #11,701
- Jun 24, 2008 10:03am Jun 24, 2008 10:03am
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
- #11,702
- Jun 24, 2008 10:09am Jun 24, 2008 10:09am
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
It's looking decent, it should just drift slightly upwards since volume will be thinning out in the later hours.
LOL price came 2 pips short of stopping me out.
money management came in handy here.
*If there's something to be addicted to in the markets, risk management is an addiction you should never break, do it with reckless abandon, as if your life depended on it. -FXC*
cheers, I'm gonna let this run because the market has already made its decision and rewarded me for my previous positions.
I'll be back later tonight.
gotta go out and live.
cheers.
LOL price came 2 pips short of stopping me out.
money management came in handy here.
*If there's something to be addicted to in the markets, risk management is an addiction you should never break, do it with reckless abandon, as if your life depended on it. -FXC*
cheers, I'm gonna let this run because the market has already made its decision and rewarded me for my previous positions.
I'll be back later tonight.
gotta go out and live.
cheers.
"Diversification is an excuse for a lack of talent" ~FXC
- #11,703
- Jun 24, 2008 10:10am Jun 24, 2008 10:10am
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
The Low are getiing higher...wavin up..
kid i slept for like 6 hrs and im still tired haha too much FX dreaming
"Diversification is an excuse for a lack of talent" ~FXC
- #11,705
- Jun 24, 2008 12:01pm Jun 24, 2008 12:01pm
- Joined Apr 2008 | Status: Controlled Trading. | 1,161 Posts
- #11,712
- Jun 24, 2008 3:02pm Jun 24, 2008 3:02pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
If you want to trade then use the hedging. Take a long and short position and you will be fine.
If Eur go up you will make money and when it will come down after couple of days close your short position.
If Eur go down then you will make money. Same thing again, close your long position once it will reverse back after couple of days. Chances are before July 6 when Eur will decide it's interest rate.
So like Barron says, "Market goes down, you make money, market goes up you also make money."
Isn't it beautiful....
For sure this strategy would work brilliantly during ranging markets. If I used it over the period of time in the chart, wouldn't I be left with rather a lot of interest-costing sell orders ridiculously into drawdown?
- #11,713
- Jun 24, 2008 3:34pm Jun 24, 2008 3:34pm
This sounds great, but look at the attached daily chart - ignore MACD and ma's that are merely there to help my own analysis.
For sure this strategy would work brilliantly during ranging markets. If I used it over the period of time in the chart, wouldn't I be left with rather a lot of interest-costing sell orders ridiculously into drawdown?
Currently, US, GBP & Euro all are in same situation with growth and inflation.
Everyone is getting fair share of bad news about their own economy.
So, I think, as a example, Upward risk for euro not more then 1.58 till July 6th. Once ECB will give their decesion and declare no rate hike in future, it's bound to come down from it's peak.
On the other hand, if Fed say anything hawkish, Euro will fall 100 to 150 pips max. Then it will start to reverse back from it's oversold position and will come back to this level before ECB rate decesion.
So, in short term, with your hedge, you are risking 200 pips both side.
{Promotion Removed}
- #11,720
- Jun 24, 2008 6:10pm Jun 24, 2008 6:10pm
- Joined Dec 2007 | Status: "Focus is everything" | 1,677 Posts
"Diversification is an excuse for a lack of talent" ~FXC