EURUSD | Page 735 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

EUR/USD, GBP/USD, USD/CHF

Similar Threads

MT4: how to change "EURUSD" to "#EURUSD"? 3 replies

Re: EurUsd short term 15 replies

did oanda just drop its spread for eurusd to 1 pip? 11 replies

EA for multiple lot limit order for EURUSD 0 replies

NFP nice bump up on EURUSD 2 replies

Attachments: EURUSD
Exit Attachments

EURUSD

  • #14,681
  • Jul 15, 2008 5:47am Jul 15, 2008 5:47am
Quoting FxApasionado
New target,, 1.80 hahaha
Attached Image (click to enlarge)
Click to Enlarge Name: euro_elliot_longterm.gif Size: 21 KB
  • #14,682
  • Jul 15, 2008 5:49am Jul 15, 2008 5:49am
Quoting Jurrasic
1.625, why so modest ? It's been trapped in this around 600 pip range for a while so 1.64 makes most sense and close to 1.65 likely. If you care for such long term moves of course.
1,6250 is the 161.8 fibo-expansion level for the break of the channel
upward
  • #14,683
  • Jul 15, 2008 5:53am Jul 15, 2008 5:53am
Quoting Subdude
Nothing is going to stop this from going up another 100 pips if Dow drops 200 points today and/or Fannie loses another 50% of its value.
Concerted intervention certainly will...

It started this up-trend in 2000 and could end it just as easily...
  • #14,684
  • Jul 15, 2008 5:54am Jul 15, 2008 5:54am
Quoting MaZae
now that we got into this topic of hedging, i'm sure there must be a way to beat losses like a rock-paper-scissors sequence but can't find it yet ..
Hedging is a TOTAL waste of time AND money. If you hedge your position you pay an additional spread. You also get more involved in the market which means you'll be more willing to release the hedge and have a net trade because you want to get rid of it at some point, thus your judgement will be a bit upset compared to a case when you'd just look to enter first time around and judge things more objectively.

If a trade goes against you then either close it or if you REALLY REALLY REALLY believe it will come back, and use proper mm so you won't loose half of your account even if it doesn't, then leave it for a while. Patience is a great virtue for a trader. If you closed the trade and the market appears to be coming back your way you can just open a new trade, maybe even at the same spot where you closed your previous trade.

You can hedge on Oanda if you split your account into sub-accounts btw.
On the path to Enrichment.
  • #14,685
  • Jul 15, 2008 6:00am Jul 15, 2008 6:00am
Thank You ..
cesare76fx ,dragoncat , txfx ,MaZae and Subdude. for your explanations ...really appreciated..
  • #14,686
  • Jul 15, 2008 6:04am Jul 15, 2008 6:04am
Quoting Jurrasic
Hedging is a TOTAL waste of time AND money. If you hedge your position you pay an additional spread. You also get more involved in the market which means you'll be more willing to release the hedge and have a net trade because you want to get rid of it at some point, thus your judgement will be a bit upset compared to a case when you'd just look to enter first time around and judge things more objectively.
Absolutely disagree. Say you get in long @ 1.5800 and the market is starting to fall, but you're convinced that longer term your trade is good. You hedge @ 1.5785 and ride it down to 1.5760. Now, when the trend resumes and goes back above your entry - you got 25 pips for free and are already ahead on the trade. If more retracement is ahead, you just bought yourself 25 more pips of SL. The challenge is of course jumping off the hedge at some point and timing it right, but that doesn't invalidate hedging as a protective strategy.
  • #14,687
  • Jul 15, 2008 6:10am Jul 15, 2008 6:10am
Quoting NuckingFuts
Concerted intervention certainly will...

It started this up-trend in 2000 and could end it just as easily...
yep.

but we haven´t seen intervention 1,40, 1,45, 1,50, 1,55.

intervention would burn money against the trend.

i see new support 1,5850 in this upward move.

happy trading, i have now to go to work for my money
  • #14,688
  • Jul 15, 2008 6:10am Jul 15, 2008 6:10am
Quoting Subdude
Absolutely disagree. Say you get in long @ 1.5800 and the market is starting to fall, but you're convinced that longer term your trade is good. You hedge @ 1.5785 and ride it down to 1.5760. Now, when the trend resumes and goes back above your entry - you got 25 pips for free and are already ahead on the trade. If more retracement is ahead, you just bought yourself 25 more pips of SL. The challenge is of course jumping off the hedge at some point and timing it right, but that doesn't invalidate hedging as a protective strategy.
I understand your point, personally I prefer scaling in and out of a position. I did that when E/U fall 200pips in one hour about two weeks ago, added one position at the bottom to average my BE and when the trend resumed I took my profit. I would understand hedging as a strategy when you sell and buy at the same price to wait for a confirmation of a breakout, bounce or a news reaction, but still, it never worked for me.
  • #14,689
  • Jul 15, 2008 6:33am Jul 15, 2008 6:33am
I'm still long from 5665. Holding into Friday.
  • #14,690
  • Jul 15, 2008 6:42am Jul 15, 2008 6:42am
Quoting DownRiverTrader
I'm still long from 5665. Holding into Friday.


I have entered long at that level twice, made pips but should have stayed in and trust my set-ups. Around that level, not exactly but approx., we had price action set-ups in the 4hr, daily, weekly...
Great
  • #14,691
  • Jul 15, 2008 6:42am Jul 15, 2008 6:42am
Quoting Subdude
Absolutely disagree. Say you get in long @ 1.5800 and the market is starting to fall, but you're convinced that longer term your trade is good. You hedge @ 1.5785 and ride it down to 1.5760. Now, when the trend resumes and goes back above your entry - you got 25 pips for free and are already ahead on the trade. If more retracement is ahead, you just bought yourself 25 more pips of SL. The challenge is of course jumping off the hedge at some point and timing it right, but that doesn't invalidate hedging as a protective strategy.
I have no idea how what you just said makes any sense what so ever. If the market went against you -15 pips you're basicly telling me that you would hedge at that point and then exit the hedge as it goes against you further to -40 pips. And all of that is because you're "convinced that longer term your trade is good" and apparently also convinced even as to the size of the retrace ? Well, all I can say to that is that were always and always will be lots of people who will be "convinced" that they know the "longer term trend".. and such people will keep blowing their accounts as the price runs the other way and never looks back. That is not to mention that if you hedge and price immediately reverses or starts zig-zaging around you'll just end up paying lots of spreads and working hard for free.

You can of course trade both ways if for example one trade is longer term and the other is short term on a retracement but that's not done for the purpose of hedging (even if technically it is, but position sizes are likely to differ for strategies on different timeframes anyway). But in such a case it's not an issue that has to do with the previous open positions you have nor do you intentionally do it at a place which would otherwise be an SL to your other positions.
On the path to Enrichment.
  • #14,692
  • Jul 15, 2008 7:07am Jul 15, 2008 7:07am
Hi, all!
What you think about roll to 1.5990, and then 1.6091?

http://fxtraders.tradepartnership.ru...15_07_2008.jpg
  • #14,693
  • Jul 15, 2008 7:21am Jul 15, 2008 7:21am
been wait a few days to add this.... for EU, oil n long UC....
just mini lot...:>
  • #14,694
  • Jul 15, 2008 7:27am Jul 15, 2008 7:27am
looks like a correction is due...
  • #14,695
  • Jul 15, 2008 7:45am Jul 15, 2008 7:45am
EU still Going Down????
  • #14,696
  • Jul 15, 2008 7:48am Jul 15, 2008 7:48am
EU is toppish to me...

retractment,,,xpected!!


sonic
Attached Image (click to enlarge)
Click to Enlarge Name: eu12jul.gif Size: 24 KB
  • #14,697
  • Jul 15, 2008 7:49am Jul 15, 2008 7:49am
I could be wrong but It dosen't look like this correction has any real push to it.

Simon
99% of Traders fail, so don't follow the herd
  • #14,698
  • Jul 15, 2008 7:50am Jul 15, 2008 7:50am
Quoting Jurrasic
I have no idea how what you just said makes any sense what so ever. If the market went against you -15 pips you're basicly telling me that you would hedge at that point and then exit the hedge as it goes against you further to -40 pips. And all of that is because you're "convinced that longer term your trade is good" and apparently also convinced even as to the size of the retrace ? Well, all I can say to that is that were always and always will be lots of people who will be "convinced" that they know the "longer term trend".. and such people will keep blowing their accounts as the price runs the other way and never looks back. That is not to mention that if you hedge and price immediately reverses or starts zig-zaging around you'll just end up paying lots of spreads and working hard for free.

You can of course trade both ways if for example one trade is longer term and the other is short term on a retracement but that's not done for the purpose of hedging (even if technically it is, but position sizes are likely to differ for strategies on different timeframes anyway). But in such a case it's not an issue that has to do with the previous open positions you have nor do you intentionally do it at a place which would otherwise be an SL to your other positions.
I agree 100%. Take it from me, I tried hedging with a live account. It's not
a good idea, unless you have long term trades on and want to do some scalping. You will have to trade almost perfectly to make it work. I watched
a small loss(mistake, it was a bad trade to begin with) turn into a big, very
big loss.($10,000 + or so) Fortunately I kept my cool and turned things around. It might work for a select few, but if your short on experience it's not a good idea.
  • #14,699
  • Jul 15, 2008 8:01am Jul 15, 2008 8:01am
I am quite sure that no one on this forum is buing EUR /USD at this stage (hopfully other retail traders as well)..and since somone is NOT letting it go down....so seems to be big hands underneath EUR atm. They might just wait wait wait and then let it go.
  • #14,700
  • Jul 15, 2008 8:05am Jul 15, 2008 8:05am
Down Euro pls
569 traders viewing now