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  • #237,001
  • May 5, 2010 4:48pm May 5, 2010 4:48pm
Quoting uraceulose
I'm still getting caught up, this damn thread moves so fast. You did mean like this right?


Attachment
yeah and you can play with it and it gets bigger...


oops sorry man was watching porn... yeah yeah chart... play with the bottom . draw one from 1995 till 2008... you will see a big bull wedge. between those 2 lines.... you will also see a failed attempt just after that 2008 touch. in 2009... some hidden bull signals.
part of the reason i was short biased long ago on eu.. eu had a bear wedge created in 2009... anyway this one should lead to many more months of pips on eu shorts.. maybe years.. the move is still in embryo state. draw a fib from that 2001 high to 2008 low.. and you should get to at least the first one 23.x%... this is a wedge so where she stops nobody knows.. it may be 7000 plus pips.. its unkown
those who can, do. those who cant, talk about those who can
  • #237,002
  • May 5, 2010 4:49pm May 5, 2010 4:49pm
Quoting PipLand
I dont want to encourage longs but we are bang up against a multi year trendline.

I know the World is collapsing and everyone is extremely bearish on the euro, but it is possible we could correct from here.
The EURO will top 1.30 again, not sure how high it'll go over... but it's a very safe bet... look at the GBP when it lost 1.50, the USD/CAD when it lost 1.0000.... this big psychological numbers usually get crossed multiple times... A safer play would be to short the USD/CHF though (practically the same play though as the EUR/CHF has been locked at the hip)

Long story short, even if the EURO eventually goes to parity or lower, there is a very safe bet that it'll cross the 1.30 handle a few more times before it's next big push down.
  • #237,003
  • May 5, 2010 4:49pm May 5, 2010 4:49pm
Quoting 2+2=4ex
What you guys think of this? You think brokers made lots of money or lost lots of money today? You would imagine made because of spreads and people cashing out and maybe playing a bounce. But I have to think alot of people were selling due to trend direction. And even if they gave some back ended up positive. It would be cool to know how much a big broker makes or loses on a day like today.
Brokers make money everyday from their clients, true ECN's only take a small haircut from your entry and exit prices, they dont have any exposure? SOme may trade their own book but thats another story.

Did you mean funds? as they prop trade a lot.
  • #237,004
  • May 5, 2010 4:50pm May 5, 2010 4:50pm
Quoting PipLand
I dont want to encourage longs but we are bang up against a multi year trendline.

I know the World is collapsing and everyone is extremely bearish on the euro, but it is possible we could correct from here.
That would be really funny, cause all the guys in here who are in nonstop arguement with Sky would be shut down. and Sky would shut for another 1,2,3 maybe 5 years that's for sure let it be, more fun as trading is not most excited job (not in the right way )
  • #237,005
  • May 5, 2010 4:50pm May 5, 2010 4:50pm
Quoting Emanuele
guys, why don't you just get along? It's kind of childish...
A fair Question...
Quoting Twee
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Continued...
Quote
I don't patrol the forum like the police, instead i respond like a fire fighter! In other words, you the community are completely responsible for creating the type of environment you want here at the FF. We will continue to use the current 3 rules as the foundation for moderation, but to what level we enforce the rules will be dictated by which posts are reported using the button you see in my signature.
Anyone here is free to report me (or anyone else) at any time they see fit.

Twee decides the merits of the complaint. End of Story.
FUBAR...
  • #237,006
  • May 5, 2010 4:52pm May 5, 2010 4:52pm
Quoting PipLand
Brokers make money everyday from their clients, true ECN's only take a small haircut from your entry and exit prices, they dont have any exposure? SOme may trade their own book but thats another story.

Did you mean funds? as they prop trade a lot.
I meant more along the lines of a market maker. As I understand it, mm's make bulk of their money when their clients lose. So if the clients win, then the broker loses, right?
  • #237,007
  • May 5, 2010 4:54pm May 5, 2010 4:54pm
Quoting PipLand
I dont want to encourage longs but we are bang up against a multi year trendline.

I know the World is collapsing and everyone is extremely bearish on the euro, but it is possible we could correct from here.
bounce is def possible....still got a little ways to go. Ill close my the rest of my short when we get to 1.2741-32, that would be a probable area for a bounce. Time will tell....please excuse all the yellow lines.
Attached Image(s) (click to enlarge)
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  • #237,008
  • May 5, 2010 4:55pm May 5, 2010 4:55pm
Quoting thadakman
The EURO will top 1.30 again, not sure how high it'll go over... but it's a very safe bet... look at the GBP when it lost 1.50, the USD/CAD when it lost 1.0000.... this big psychological numbers usually get crossed multiple times... A safer play would be to short the USD/CHF though (practically the same play though as the EUR/CHF has been locked at the hip)

Long story short, even if the EURO eventually goes to parity or lower, there is a very safe bet that it'll cross the 1.30 handle a few more times before it's next big push down.
Yeah I think we are going over 1.3 now in the short term before we head lower (if we head lower). I wouldnt call it a safe bet though lol.

Dont want to long the CHF with the SNB on the prowl they are still holding up eur/chf. I wonder how much money they need to do that?
  • #237,009
  • May 5, 2010 4:57pm May 5, 2010 4:57pm
Well Megadroid cashed the long in. Still looking further drop, though.
  • #237,010
  • May 5, 2010 4:59pm May 5, 2010 4:59pm
Quoting 2+2=4ex
I meant more along the lines of a market maker. As I understand it, mm's make bulk of their money when their clients lose. So if the clients win, then the broker loses, right?
Market makers dont always profit from clients loses it just depends if they are the ones taking the other side of the trade or another client of theres. They are just "making a market"
  • #237,011
  • Edited 5:02pm May 5, 2010 5:00pm | Edited 5:02pm
Quoting PipLand
Yeah I think we are going over 1.3 now in the short term before we head lower (if we head lower). I wouldnt call it a safe bet though lol.

Dont want to long the CHF with the SNB on the prowl they are still holding up eur/chf. I wonder how much money they need to do that?
I have a feeling the SNB will just throw in the towel soon and quit trying to mimic the EURO and instead allow the CHF to freely appreciate against it for now... but only to catch people off guard; then they'll likely flush out a bunch of traders when things seem safe to short the EUR/CHF pair again... of course, if the EURO gets a short-term squeeze higher, then there will be no need for this and the CHF will just appreciate against the USD anyway.
  • #237,012
  • May 5, 2010 5:03pm May 5, 2010 5:03pm
Quoting thadakman
I have a feeling the SNB will just throw in the towel soon and quit trying to mimic the EURO and instead allow the CHF to freely appreciate against it for now... but only to catch people off guard; then they'll likely flush out a bunch of traders when things seem safe to short the EUR/CHF pair again... of course, if the EURO gets a short-term squeeze higher, then there will be no need for this and the CHF will just appreciate against the USD anyway.
who knows eh there sitting on 1.4325 and it doesnt look like they will let it go any lower at the moment. I dont want to play with the SNB they got too much money to burn lol
  • #237,013
  • May 5, 2010 5:03pm May 5, 2010 5:03pm
Quoting PipLand
Market makers dont always profit from clients loses it just depends if they are the ones taking the other side of the trade or another client of theres. They are just "making a market"


This should be correct, the way I understand it the broker usually only takes the other side in a "market maker" role if there is no one else to take the other side of your trade.
  • #237,014
  • May 5, 2010 5:08pm May 5, 2010 5:08pm
i've been busy today and have not been around. form what I have gathered things got a bit heated here today, can anyone tell me if they were going for distance or accuritcy It is eneveatable when you have so many opinions merged togather and we all want to be right. who likes to be wrong especially in fx.
  • #237,015
  • May 5, 2010 5:08pm May 5, 2010 5:08pm
Wow quite amazing you draw in 3D..that pictures comes right up to you..
dean





Quoting mfoste1
bounce is def possible....still got a little ways to go. Ill close my the rest of my short when we get to 1.2741-32, that would be a probable area for a bounce. Time will tell....please excuse all the yellow lines.
  • #237,016
  • May 5, 2010 5:08pm May 5, 2010 5:08pm
Quoting gatorinla
... yeah yeah chart... play with the bottom .ps.. its unkown

Thanks so much Gator. that's one i'll hang onto well...forever.
  • #237,017
  • May 5, 2010 5:10pm May 5, 2010 5:10pm
Quoting uraceulose
This should be correct, the way I understand it the broker usually only takes the other side in a "market maker" role if there is no one else to take the other side of your trade.
The market maker will buy or sell even before they have a buyer lined up but this is all matched up very quickly esp in forex and there is limited exposure. They are only really aiming to profit from the bid and offer spread. not to hold a position.
  • #237,018
  • May 5, 2010 5:14pm May 5, 2010 5:14pm
Quoting PipLand
The market maker will buy or sell even before they have a buyer lined up but this is all matched up very quickly esp in forex and there is limited exposure. They are only really aiming to profit from the bid and offer spread. not to hold a position.

Thank you for clearing that up Pip. I'm not an expert by any means.
  • #237,019
  • May 5, 2010 5:17pm May 5, 2010 5:17pm
That's a lot of red candles.
Cinco de mayo!
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  • #237,020
  • May 5, 2010 5:20pm May 5, 2010 5:20pm
Quoting uraceulose
Thank you for clearing that up Pip. I'm not an expert by any means.
No problem, also, if there are no buyers or we are left with extra stock we have the option of hedging our position using a futures contract until the product is sold, eliminating any risk.
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