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EURUSD

  • #51,521
  • Dec 18, 2008 3:05pm Dec 18, 2008 3:05pm
Quoting trader2160
Anybody know why aussie just got its ass handed to it?
Prolly rally in EURAUD
  • #51,522
  • Dec 18, 2008 3:06pm Dec 18, 2008 3:06pm
[quote=ak4x;2429288]
Quoting bluej114
I was under the impression that if one knew how to read the charts correctly that the news & other such factors played no key in how the charts read...[/quote]
when the planet is reallocating assets faster than the news can report it, then that kind of thing matters. in fact it is the only thing that matters. you can chart it after the fact, but unless you're a fly on the wall of the big cheeses that decides when these things happen and for how long, then all you want to do is...
Sometimes your the bus windshield; sometimes your the bug.
Pip what you see; See what you pip!
  • #51,523
  • Dec 18, 2008 3:09pm Dec 18, 2008 3:09pm
Quoting bluej114
I was under the impression that if one knew how to read the charts correctly that the news & other such factors played no key in how the charts read. Is it just me, a newbie, that doesn't know how to read charts as well as she thought or did this EUR/USD pair just go freakin' crazy past couple days?
I've seen a lot of people here saying "post the chart, to prove your analysis". Well unfortunately it isn't that simple, knowing how to analize charts and trace corresponding lines, can help you but won't make you profitable by themselves.

Fundamentals play an important role, and of course, news.

Ultimately with such high volatility, we're continuously accessing our charts to find new probable trends/supports/resistances, but this only gives us a PROBABILITY, that must be confirmed.

A man called Charles Dow said that markets have three trends: Up, Down and correction, we've been seeing this intraday!

All this said, in calm days, with no news, charts and their analysis can lead you to very certain trades, those are what we call technical trades...

But those times, at least in E/U are a bit far now.

On the other hand, we've got a thread here with more inflated egos than successfull traders I guess, and I' not claiming my "medals".

So, be carefull, if you feel doubtfull of what to do, better stay out and watch the market. Market will be around for a long time, you won't if you make mistake after mistake, like I always say:
Be safe.
Traders are smartasses
  • #51,524
  • Dec 18, 2008 3:10pm Dec 18, 2008 3:10pm
[quote=SeerEye;2429297]
Quoting ak4x

Sometimes your the bus windshield; sometimes your the bug.
I think I fell into the category of what the dead bug left behind!!
  • #51,525
  • Dec 18, 2008 3:11pm Dec 18, 2008 3:11pm
Simply put...
An up move like the one we had the last several days cannot sustain itself without a correction. Prices have bounced twice off the 23.6 retrace of the upmove (approx. 1.4200). This, for now, is a key level. We'll know by Asia whether or not this will hold.
  • #51,526
  • Dec 18, 2008 3:14pm Dec 18, 2008 3:14pm
redemptions will come fast and furious in Jan.

I didn't think they could pass up on the cheap dollars.

they are scrambling to the doors ...further weakness in Euro?
  • #51,527
  • Dec 18, 2008 3:17pm Dec 18, 2008 3:17pm
BYE BYE EURO!
  • #51,528
  • Dec 18, 2008 3:23pm Dec 18, 2008 3:23pm
Quoting vinesh2
BYE BYE EURO!

A bold statement

They still have 2% to go for 0%

Now in January I do expect some weakness in Euro, the bad numbers will start to appear.

Still if this move stays above 1.40 even 1.35, it's quite impressive the rally the Euro as made... and this correction may end the abrupt moves only to confirm a growth in strength.

Now i have euros in my pocket and they're still there, no time to say goodbye to them
Traders are smartasses
  • #51,529
  • Dec 18, 2008 3:25pm Dec 18, 2008 3:25pm
I am taking my daughters out to dinner tonight, their mother is at office party, no spouses allowed.

I am going to reflect on the missed opportunities the past few days, but not being patient. I picked up positions at key inflections only to get out too soon. My fear now is, as soon as I start using trailing stops I will get hit everytime and give away my profit - but I don't know - maybe if I continue thinking about it I will find the confidence to let it happen.

Good news is my account keep growing. I have all profit in there, and so long as it keeps going up, that's a good thing. I think I will continue watching trades get away from me for a while, until I make a little more guaranteed money, and then I will start thinking hard about position trading.

Have a great night ladies and gents.
  • #51,530
  • Dec 18, 2008 3:31pm Dec 18, 2008 3:31pm
Quoting TIckerShuffl
I am taking my daughters out to dinner tonight, their mother is at office party, no spouses allowed....I am going to reflect on the missed opportunities the past few days, but not being patient. I picked up positions at key inflections only to get out too soon. My fear now is, as soon as I start using trailing stops I will get hit everytime and give away my profit - but I don't know - maybe if I continue thinking about it I will find the confidence to let it happen.

Good news is my account keep growing. I have all profit in there, and so long as it keeps going up, that's a good thing. I think I will continue watching trades get away from me for a while, until I make a little more guaranteed money, and then I will start thinking hard about position trading.
Always better to NOT be in a trade you wish you were in; than a trade you WISH you weren't in that your in. It's all about positive pippin'; 1 pip or 1000 pips it's all positive pips.

Have a great night with your girls!!!!!!
Pip what you see; See what you pip!
  • #51,531
  • Dec 18, 2008 3:35pm Dec 18, 2008 3:35pm
Quoting TIckerShuffl
I am taking my daughters out to dinner tonight, their mother is at office party...
get out of here and don't come back until they give you the all clear and enjoy the season bro.
FUBAR...
  • #51,532
  • Dec 18, 2008 3:37pm Dec 18, 2008 3:37pm
thanks for kind words, night.
  • #51,533
  • Dec 18, 2008 3:47pm Dec 18, 2008 3:47pm
Quoting SeerEye
Always better to NOT be in a trade you wish you were in; than a trade you WISH you weren't in that your in. It's all about positive pippin'; 1 pip or 1000 pips it's all positive pips.
SeerEye,

Sorry to jump in - but I am really interested in getting to what you said above. Cannot figure out what it means. Please help me stop scratching my skull.
The Thief of Wall Street
  • #51,534
  • Dec 18, 2008 3:47pm Dec 18, 2008 3:47pm
Quoting Spsantos
A bold statement

They still have 2% to go for 0%

Now in January I do expect some weakness in Euro, the bad numbers will start to appear.

Still if this move stays above 1.40 even 1.35, it's quite impressive the rally the Euro as made... and this correction may end the abrupt moves only to confirm a growth in strength.

Now i have euros in my pocket and they're still there, no time to say goodbye to them
I agree what seems to usually happen is that when crap hits the fan it usually comes out in the US first then the rest of world follows it. Take advantage of the weakness in the dollar now, and when the Euro and Pound have to follow suit in the 2009 in regards to dropping rates closer to 0% then that's the time to start buying the dollar

Pred
  • #51,535
  • Dec 18, 2008 3:54pm Dec 18, 2008 3:54pm
Quoting Chicky
SeerEye,

Sorry to jump in - but I am really interested in getting to what you said above. Cannot figure out what it means. Please help me stop scratching my skull.
lol - o.k.: I would rather NOT be in a trade that goes 100 pips the way I 'thought' it would go; than to be IN a trade that went 100 pips opposite the way I 'thought' it would.

Hope that helps - btw; sheesh don't confuse me; that one made me think. Ouch.

Seer
Pip what you see; See what you pip!
  • #51,536
  • Dec 18, 2008 4:03pm Dec 18, 2008 4:03pm
Quoting TIckerShuffl
Prolly rally in EURAUD
Probably.it fell everywhere
  • #51,537
  • Dec 18, 2008 4:07pm Dec 18, 2008 4:07pm
Quoting SeerEye
lol - o.k.: I would rather NOT be in a trade that goes 100 pips the way I 'thought' it would go; than to be IN a trade that went 100 pips opposite the way I 'thought' it would.

Hope that helps - btw; sheesh don't confuse me; that one made me think. Ouch.

Seer
Oh! I got it ............... you must be a broker. lol.
It sure did help me (and my skull). Thanks.
The Thief of Wall Street
  • #51,538
  • Dec 18, 2008 4:22pm Dec 18, 2008 4:22pm
Quoting vinesh2
BYE BYE EURO!
I remember 3 or 4 months ago when i started forex trading ...the euro was retracing from a falling , then ( foolish me) i read a post just like urs (accidently i was joinng this great forum) saying here comes the 1.7xxx.... then i thought its fool not to buy now, and Bingo...half of my $200 mini account was gone in few minutes .

No offence bro , but plz do know there is newbies here follow blindly such BIG CALLS

Take care....
  • #51,539
  • Dec 18, 2008 4:35pm Dec 18, 2008 4:35pm
Quoting athahira
I remember 3 or 4 months ago when i started forex trading ...the euro was retracing from a falling , then ( foolish me) i read a post just like urs (accidently i was joinng this great forum) saying here comes the 1.7xxx.... then i thought its fool not to buy now, and Bingo...half of my $200 mini account was gone in few minutes .

No offence bro , but plz do know there is newbies here follow blindly such BIG CALLS

Take care....
newbies should not be reading here... there is a rookie sub forum for that.
I don't think there can be people following a call like that "bye bye euro"...
  • #51,540
  • Dec 18, 2008 4:38pm Dec 18, 2008 4:38pm
Quoting athahira
No offence bro , but plz do know there is newbies here follow blindly such BIG CALLS
sorry but vinesh wasn't making a call, he was saying goodbye...

several of us here ((including myself)) have been doing that for sometime now, and tho I might take some longs from time to time or stay out, i'm still generally dollar bullish as well in the great scheme of things for many reasons I won't repeat. no different than yoorow bulls trading it short all the way down. on any given day we're all right even if only for a few minutes...

methinks the newbies like you're referring to need to be reading the money management threads instead of this one ((or many others that come to mind)) if what you're saying is a widespead problem. or find a safer thread. or trade without reading forums at all. or think about another vocation. or just think...
FUBAR...
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