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EURUSD

  • #55,861
  • Jan 12, 2009 3:21pm Jan 12, 2009 3:21pm
hey all im gonna follow gregam1128, on this and put it out there. i am a newbie with a lot too learn. i have browsed and read through a lot of the more experienced traders threads and posts on this forum looking to pick up pointers to become a better trader. i have only been trading forex live since august. i traded a practice account starting last april 10th to be exact, i still trade it sometimes for kicks and trying out new strategies. thanks to all serious members and traders who contribute to this forum. all the knowledge is much appreciated. good luck trading to all
  • #55,862
  • Edited Jan 13, 2009 5:54am Jan 12, 2009 3:25pm | Edited Jan 13, 2009 5:54am
My bias for the Eu is weekly. I see 4 hr down trend dating back to Dec 29th. Investor sentiment has been risk aversion since last week, and Obama's inauguration is boosting dollar sentiment. I'm currently short @3411 with intentions to hold the trade till the end of the month, or until I'm stopped out. 200pip sl. Target is 2430. That area showed good support back in mid November before the December Bull rally.

I also use USDChF as an indicator to tell me if Eu moves are authentic, being that they generally mirror each other to the bar.
This is not a call, and others feel free to post your trades, or your opinions.

Happy trading.http://www.forexfactory.com/images/icons/icon7.gif
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  • #55,863
  • Jan 12, 2009 3:31pm Jan 12, 2009 3:31pm
Quoting NwFXenthsist
hey all im gonna follow gregam1128, on this and put it out there. i am a newbie with a lot too learn. i have browsed and read through a lot of the more experienced traders threads and posts on this forum looking to pick up pointers to become a better trader. i have only been trading forex live since august. i traded a practice account starting last april 10th to be exact, i still trade it sometimes for kicks and trying out new strategies. thanks to all serious members and traders who contribute to this forum. all the knowledge is much appreciated....
Welcome. I would just like to say this about demo accounts.
My experience with demo accounts are they are very deceiving. They are good to give you an idea on what fx is about, but they don't accurately reflect the live trading experience. Well good luck in your journey, and may the pips be with you.
  • #55,864
  • Jan 12, 2009 3:36pm Jan 12, 2009 3:36pm
Quoting gregam1128
Ouch!

I made it out of the hedges pretty good, but I really didn't like that style of trading. seemed counter productive. But guess it's good if I wanted to hold without large draw down.
been reading some of the posts about hedges and though i would throw in my 2 cents....and just picked your reply since it was the last one that i saw.

I have only pulled off a good hedge trade a few times - and it has always been hedging a trade that is in profits by 300+ pips.

my broker only allows me to hedge and existing position. I cannot have open multiple long / shorts of the same pair. (does any broker do this)

So i have had a few trades where i am up 300 pips - know there is a 100 pip correction coming, place the hedge - make another 50-100 pips off the hedge before the "original" trend continues.

very hard to do in todays markets.

was easier a year ago. when 100-500 pip moves in a day were not as common.

hope this makes sense
--post hoc ergo propter hoc--
  • #55,865
  • Jan 12, 2009 3:42pm Jan 12, 2009 3:42pm
Quoting SunTrader
If someone wants to post I am going long or short at "X" (before the fact) and then say they are exiting at "Y" and now I made this many pips I see no problem - even if no one else really benefits.

How about this - posting entry and desired exit.
And then a follow up with actual entry and exit.

Posting entry is sometimes tough if you are a "finger on the trigger" trader.
I've tried this before - posting "I am shorting at xxx.xxx" only to finish the post to find the entry is already gone!!!!

I am currently short EUR/USD from 3402 from 2:51 PM EST.
Target Open
Stop set at BE


--adding a quick edit.
Maybe for the "Trade Posts" a format such as:
1. Subject line of the first post could be Trade Executed
1. Subject line of the second post could be Trade Follow Up
--post hoc ergo propter hoc--
  • #55,866
  • Jan 12, 2009 3:51pm Jan 12, 2009 3:51pm
Attachment As you can see by the chart, the EU has revisited the 3411 area 3 times since it's initial drop earlier in the day. It also set a new 4 hour low at 3287
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  • #55,867
  • Jan 12, 2009 3:58pm Jan 12, 2009 3:58pm
Let's see how the Asian markets do with that information.
  • #55,868
  • Jan 12, 2009 4:09pm Jan 12, 2009 4:09pm
Quoting Monk
How about this - posting entry and desired exit.
And then a follow up with actual entry and exit.

Posting entry is sometimes tough if you are a "finger on the trigger" trader.
I've tried this before - posting "I am shorting at xxx.xxx" only to finish the post to find the entry is already gone!!!!

I am currently short EUR/USD from 3402 from 2:51 PM EST.
Target Open
Stop set at BE


--adding a quick edit.
Maybe for the "Trade Posts" a format such as:
1. Subject line of the first post could be Trade Executed
1. Subject line of the second...
In my mind it needn't be anything exact. If someone has a history of posting trades usually on a timely basis then it will be believed. If not how can it?
  • #55,869
  • Jan 12, 2009 4:11pm Jan 12, 2009 4:11pm
BTW, I know I might getted flamed for this:

I don't post trades, but I also don't brag. No need to.
  • #55,870
  • Jan 12, 2009 4:13pm Jan 12, 2009 4:13pm
a little off atm. Should smoothen out during Asian session.
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  • #55,871
  • Jan 12, 2009 4:14pm Jan 12, 2009 4:14pm
I have been watching the exchanges between some visitors to this thread regarding trade calls. Anybody that is successful in trading understands that to be effective you have to be in the right head space without distraction. The ongoing slagging and debate is quite contrary to this and it is at odds with those whom I know are very successful in this business. To qualify myself I have been trading for a total of six years now of which I have traded a live account profitably full time for three years. I will not paste my trades as this is my business and I will not open my books to a crowd of people on the net whom I haven't met personally. My style may not suit people here and it may lead to confusion for some but it suits me and it is what I know from a lot of very hard work.

I enjoy the the forums here on Forexfactory and made some great friends, you know who you are...

For the newbies out there, find the time frames that suits you and develop a range of strategies that fit with your personality and keep your methods simple. I recommend reading books such as "Trading in the Zone" by Mark Douglas

Many pips to you...

A
  • #55,872
  • Jan 12, 2009 4:22pm Jan 12, 2009 4:22pm
by God is this rubbish still going ??
  • #55,873
  • Edited 7:12pm Jan 12, 2009 4:31pm | Edited 7:12pm
Quoting pipmyride
by God is this rubbish still going ??
Yeah really...Christmas is over, I don't care who's been naughty or nice...will this pair continue the 3-week downtrend that's what I'm watching...so far so good.

Cheers.
"The markets are the greatest chess match ever played."
  • #55,874
  • Jan 12, 2009 4:37pm Jan 12, 2009 4:37pm
Quoting AlexFX
I have been watching the exchanges between some visitors to this thread regarding trade calls. Anybody that is successful in trading understands that to be effective you have to be in the right head space without distraction. The ongoing slagging and debate is quite contrary to this and it is at odds with those whom I know are very successful in this business. To qualify myself I have been trading for a total of six years now of which I have traded a live account profitably full time for three years. I will not paste my trades as this is my business...

Yes I agree, and am sorry for my part in this hole great big waist of time. I had hoped that maybe without that mess going on people like Shadow, Ak, Cobra, Bemac, and others would share more of what they know. You sir are also invited to give us hints, if you please.
I'll be good now
  • #55,875
  • Jan 12, 2009 5:19pm Jan 12, 2009 5:19pm
...
  • #55,876
  • Jan 12, 2009 5:35pm Jan 12, 2009 5:35pm
Hi everyone,

I am new to the form but not to trading. I wanted to post my two cents for what they are worth. I am seeing EURUSD at 1.20 (fair value) by June for several reasons:

First, EUR is way overvalued by every measure you look at.

Second, EUR economy is in shambles and they don't have the tools nor the authority to fix it. ECB is way behind the curve, but also there is not a whole a lot they can do ( Like UK and US). Cutting rates is just not going to cut it.

In the next few weeks and months the problems of EU will start to become more apparent. I am seeing a much longer recession in EU then UK/US.

EURUSD will drag its feet towards 1.2, so don't expect a free fall.

So I am bearish on EUR long terms as well as short term. Thinking about adding shorts in the next few days depending on where the dust settles.

This is just my opinion, so please don't trade based on it.
  • #55,877
  • Jan 12, 2009 5:40pm Jan 12, 2009 5:40pm
usdchf testing 1145 which is good for the eu downward move
  • #55,878
  • Jan 12, 2009 5:40pm Jan 12, 2009 5:40pm
welcome.
  • #55,879
  • Jan 12, 2009 5:40pm Jan 12, 2009 5:40pm
Quoting gregam1128
Welcome. I would just like to say this about demo accounts.
My experience with demo accounts are they are very deceiving. They are good to give you an idea on what fx is about, but they don't accurately reflect the live trading experience. Well good luck in your journey, and may the pips be with you.

hey thanks. yes i would def agree i came in all high mighty when i first opened a standard account, took some heavy losses and thought damn this is not what i had mind. i stepped back and closed that account and opened up a mini account where the pips are 1$ instead of 10$ . i wasnt prepared psychologicaly for a standard account. switching my accounts over was probably the smartest move i made so far to date. so im determined and a lot more patient with the mini account and hope to one day trade good enough to have the right amount of capital to open up a standard account and trade it with confidence.

good luck to as well
  • #55,880
  • Jan 12, 2009 5:44pm Jan 12, 2009 5:44pm
I do not know what broker you use, but mt4 allows you to set your lots to as small as .o1
Remember, it's not how big the lots are, but how much of your equity you risk per trade. Oh and by the way. Volume has picked up substantially.
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