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  • #231,621
  • Apr 27, 2010 5:21am Apr 27, 2010 5:21am
Quoting Toldo
Hedging is to open a reverse trade to your current one with the same amount
You mean just close the position then.
  • #231,622
  • Apr 27, 2010 5:22am Apr 27, 2010 5:22am
If it doesnt break that daily S1 it might go up in a quite sizeable move again, although im hoping it wont, hoping on good US news
  • #231,623
  • Apr 27, 2010 5:25am Apr 27, 2010 5:25am
Quoting Toldo
don't you think your stop loss needs to be 3265 ? what does 3280 refers for ?
http://img191.imageshack.us/img191/2696/eureur.gif

Uploaded with ImageShack.us

Its the closest level, and basically its where I expect the market not to go so it is where my stop loss will be, and with that expectation I take the long position. This doesn't mean that I am right with the direction of the market, it just defines favorable risk area.
  • #231,624
  • Apr 27, 2010 5:26am Apr 27, 2010 5:26am
Quoting T.E.Lawrence
I've sold fiber @3345 after breach of that trend line:

Attachment
trade closed +31 pips. We reached the support line:

Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 15 KB


if it is broken - I'll consider re-entering
  • #231,625
  • Apr 27, 2010 5:27am Apr 27, 2010 5:27am
Quoting jest1081
oh yesh...but she's small, like an insurance, im not liking the dollar right now. you see some one dipped my notes in expired milk. it stinks...thus im selling.

i bot eur coz richlady bot.
isnt it kinda romantic?
Uh oh......the soldiers got the blues, hang in there

I'm waiting on UJ to turn around 'cos I just know that it want' to go to 100.00......and I'm gonna walk it down the aisle.....hand in hand....yessir!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #231,626
  • Apr 27, 2010 5:28am Apr 27, 2010 5:28am
lol i hope it happens like yesterday again.
Europe sells US buys...

its like a fight...

EUR : i want mine cheaper!
USD : No! I want MINE cheaper!

lol!

jest is
  • #231,627
  • Apr 27, 2010 5:29am Apr 27, 2010 5:29am
Yesterday I called the bottom the 8 hours of sideways drift and the spike to 400's and when to go short back down. The same technique is saying go long at 3299 If we get there.
Founder of Sutherland Wave Principle
  • #231,628
  • Apr 27, 2010 5:31am Apr 27, 2010 5:31am
Quoting Jonty
You mean just close the position then.
No Your trade remains open, but by opening a counter trade you stop losing money (except your swap payments if you hold them both over night). You can then close your counter trade at a point of your choosing and then reopening when necessary, with the ultimate goal of reducing your losses on the opposing trade to zero. Damn hard to do at times.
I operate with clear definite rules, if I break them I lose BIG!
  • #231,629
  • Apr 27, 2010 5:32am Apr 27, 2010 5:32am
2 pips more and im break even....jolly!
im pathetic.
  • #231,630
  • Apr 27, 2010 5:32am Apr 27, 2010 5:32am
Quoting jest1081
its up there lad. 250 and 179. i guess my frame is bigger than most of you here.
im not ruling out a swan song to 3566. when the bliss happens if a deal is finalised in the next day or 2. but if usdx and eu keep a firm footing on the other side of those yellow lines. it will be hard to stop this usd bull across that barbwire.
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those who can, do. those who cant, talk about those who can
  • #231,631
  • Apr 27, 2010 5:35am Apr 27, 2010 5:35am
For gods sake 1 pip + spread
Founder of Sutherland Wave Principle
  • #231,632
  • Apr 27, 2010 5:36am Apr 27, 2010 5:36am
Just need a 1h close under 1.3305 to confirm next traget 1.3150 for this week , and maybe 1.3000 next week.

good luck
Winning isn't Everything...Winning is THE ONLY THING
  • #231,633
  • Apr 27, 2010 5:37am Apr 27, 2010 5:37am
check 1.3365 on your chart and you will get my point..

Quoting Dabek FX
http://img191.imageshack.us/img191/2696/eureur.gif

Uploaded with ImageShack.us

Its the closest level, and basically its where I expect the market not to go so it is where my stop loss will be, and with that expectation I take the long position. This doesn't mean that I am right with the direction of the market, it just defines favorable risk area.
If something is too good to be true, it’s probably NOT true.
  • #231,634
  • Apr 27, 2010 5:38am Apr 27, 2010 5:38am
Quoting suthmo
Yesterday I called the bottom the 8 hours of sideways drift and the spike to 400's and when to go short back down. The same technique is saying go long at 3299 If we get there.
agreed

http://img7.imageshack.us/img7/9596/picture16cd.png

although wont hold for long 3310 probably
  • #231,635
  • Apr 27, 2010 5:41am Apr 27, 2010 5:41am
Quoting Toldo
check 1.3365 on your chart and you will get my point..
Yes I've seen this, I've taken it into account. This trade has set parameters for a reason, I do not disregard any information when doing this analysis. Although, it is a good eye to notice that point of support but it is outside of the scope of this trade.
  • #231,636
  • Apr 27, 2010 5:44am Apr 27, 2010 5:44am
Quoting Icannaesee
No Your trade remains open, but by opening a counter trade you stop losing money (except your swap payments if you hold them both over night). You can then close your counter trade at a point of your choosing and then reopening when necessary, with the ultimate goal of reducing your losses on the opposing trade to zero. Damn hard to do at times.
wtf?

Dude you are flat, not hedged. It's exactly the same as opening one position, closing it, then opening another position in the same size.

Lets say you buy 10 lots of EUR/USD... then sell 10 lots of EUR/USD - what is your position? 0 lots of EUR/USD. You are flat.
  • #231,637
  • Apr 27, 2010 5:46am Apr 27, 2010 5:46am
Quoting Jonty
wtf?

Dude you are flat, not hedged. It's exactly the same as opening one position, closing it, then opening another position in the same size.

Lets say you buy 10 lots of EUR/USD... then sell 10 lots of EUR/USD - what is your position? 0 lots of EUR/USD. You are flat.
That is hedged mate.. because he has 2 Opened trades just one working against the other so that doesnt make him Earn or Lose, HOWEVER broker still charge a Commision at end of day soo hes hedging.... ive already explained... Flat is NOT even having an Open trade... dude you got to go to www.babypips.com to learn some basics...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #231,638
  • Apr 27, 2010 5:47am Apr 27, 2010 5:47am
Here we have an argument tolong @ 3299 in the chart: testing the upper line of the broken channell. But I ain't cathing no falling knive yet. I'm fltat now, price braking the upper support line and the fall give a strong bear bias to the day. And still we have a lot to go. I think a retrace should happen before US opens, not a big one though.
Just mho! G/L all!
Attached Image (click to enlarge)
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  • #231,639
  • Apr 27, 2010 5:49am Apr 27, 2010 5:49am
well EU did 114 pips today, average is 121 so i closed my trade +100 pips, take a look at the chart i posted yesterday

Hidden divergences never lie
  • #231,640
  • Apr 27, 2010 5:53am Apr 27, 2010 5:53am
Quoting bguguen
That is hedged mate.. because he has 2 Opened trades just one working against the other so that doesnt make him Earn or Lose, HOWEVER broker still charge a Commision at end of day soo hes hedging.... ive already explained... Flat is NOT even having an Open trade... dude you got to go to www.babypips.com to learn some basics...
Look, I'm not looking to "ruffell any feathers", but if you think that being "hedged" (in your example) is different to being "flat" then you are mistaken. As far as I am aware, the only way to be hedged in FX is to take on an opposing position in another correlated instrument, such as options / Dollar index futures /commodities maybe.
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