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EURUSD

  • #259,821
  • Jun 17, 2010 8:48pm Jun 17, 2010 8:48pm
I have been riding this sucker short from 1.36 to 1.18 with great success; but now I'm in the pain; but you know what they say "no pain no gain"
  • #259,822
  • Jun 17, 2010 8:48pm Jun 17, 2010 8:48pm
i hope this is it.
those who can, do. those who cant, talk about those who can
  • #259,823
  • Jun 17, 2010 8:51pm Jun 17, 2010 8:51pm
Quoting opufo1
I have been riding this sucker short from 1.36 to 1.18 with great success; but now I'm in the pain; but you know what they say "no pain no gain"
Oh ok. Same trade, so you're actually in the green?
Only expectation matters . . .
  • #259,824
  • Jun 17, 2010 8:55pm Jun 17, 2010 8:55pm
Quoting RebelRed
Oh ok. Same trade, so you're actually in the green?
not the same trade; but many trades along the line going short and long but for the most part of trades going short. right now I'm a few hundred pips in RED
  • #259,825
  • Edited 9:16pm Jun 17, 2010 9:04pm | Edited 9:16pm
Quoting RebelRed
I wonder if anyone is still short from 1.2000 and praying for a turn around.
I am still short from 1.19, as you can see on the attached chart, I picked the bottom with a great precision... I just wish it was a long
This is the biggest draw down since I went live. There go all the profits from last 27 trades, most of which were scalps for 5-20 pips. And, I got some shorts waiting at 2420 and at 25, one at 1.25 is a serious one because I dont believe it is possible at all that we will shoot straight through such an important level.
So I am letting the looser run, and averaging down
Which I can afford to do trading single units with Oanda
I think that Euro is fundamentally weak, because Europe is in much more trouble than the US. I just need some technical skills to time my entries and not enter on strong pullbacks. I think this week, and maybe next week will make these 2-3 tiny green candles inside of massive bears run to the parity.
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  • #259,826
  • Jun 17, 2010 9:11pm Jun 17, 2010 9:11pm
Price action playing inside a 15 pips range. perfect conditions for a breakout strategy. Which direction? We'll have to wait and see.
  • #259,827
  • Jun 17, 2010 9:20pm Jun 17, 2010 9:20pm
Quoting Jhig
Price action playing inside a 15 pips range. perfect conditions for a breakout strategy. Which direction? We'll have to wait and see.
lows is getting higher. I smell the bears. but i don't think it will go too far. no trade for me yet
Gambling with PA
  • #259,828
  • Jun 17, 2010 9:25pm Jun 17, 2010 9:25pm
Quoting RebelRed
I wonder if anyone is still short from 1.2000 and praying for a turn around.
I am too. Thankfully I have ridden this thing down hard from 1.40 with a very nice profit. I have the margin to be patient and still trade...I simply don't over extend. I do use SLs at times, other times I WISH I did. Seems like most trades that go wrong for me turn around within an hour or so. Often my SLs get hit only to turn around for what would have been profit, so I prefer to not be greedy or silly with MM and wait for a turn. I believe strongly 1.20 will come to pass...Europe is on thin ice.

Two ways to minimize risk: Use SLs, or be conservative to start with.
  • #259,829
  • Jun 17, 2010 9:25pm Jun 17, 2010 9:25pm
Man, these ranges are incredible. I have time to play video games during these times.
  • #259,830
  • Jun 17, 2010 9:25pm Jun 17, 2010 9:25pm
Quoting cabbiefx
I am still short from 1.19, as you can see on the attached chart, I picked the bottom with a great precision... I just wish it was a long
This is the biggest draw down since I went live. There go all the profits from last 27 trades, most of which were scalps for 5-20 pips. And, I got some shorts waiting at 2420 and at 25, one at 1.25 is a serious one because I dont believe it is possible at all that we will shoot straight through such an important level.
So I am letting the looser run, and averaging down
Which I can afford to do trading...

Both currencies are weak unfortunately. However, the US is in a better position in the near term than the EU.

Let's see how it plays out.
Only expectation matters . . .
  • #259,831
  • Jun 17, 2010 9:27pm Jun 17, 2010 9:27pm
Quoting Redeemed1
I am too. Thankfully I have ridden this thing down hard from 1.40 with a very nice profit. I have the margin to be patient and still trade...I simply don't over extend. I do use SLs at times, other times I WISH I did. Seems like most trades that go wrong for me turn around within an hour or so. Often my SLs get hit only to turn around for what would have been profit, so I prefer to not be greedy or silly with MM and wait for a turn. I believe strongly 1.20 will come to pass...Europe is on thin ice.

Two ways to minimize risk: Use SLs, or be conservative...
1.2500 is a huge psychological number. I'm waiting to see if we get close and if we start the South train up again.
Only expectation matters . . .
  • #259,832
  • Jun 17, 2010 9:32pm Jun 17, 2010 9:32pm
my friend lost 1000usd for the spike up yesterday. he did not put any stoploss and thought it might go down.
  • #259,833
  • Jun 17, 2010 9:45pm Jun 17, 2010 9:45pm
Quoting xelax
my friend lost 1000usd for the spike up yesterday. he did not put any stoploss and thought it might go down.
Spike? Is there a spike yesterday?
  • #259,834
  • Jun 17, 2010 9:51pm Jun 17, 2010 9:51pm
he shorted at 1.2328 thought it might be the resistance where the double pin bar form in m15, but it went up. he use a very large lot. i think he is going to stop for a while now.
  • #259,835
  • Jun 17, 2010 9:53pm Jun 17, 2010 9:53pm
Quoting xelax
he shorted at 1.2328 thought it might be the resistance where the double pin bar form in m15, but it went up. he use a very large lot. i think he is going to stop for a while now.
There is no spike just an upward movement.
  • #259,836
  • Jun 17, 2010 9:54pm Jun 17, 2010 9:54pm
These ranges give me a deja vu
  • #259,837
  • Jun 17, 2010 9:57pm Jun 17, 2010 9:57pm
Quoting xelax
he shorted at 1.2328 thought it might be the resistance where the double pin bar form in m15, but it went up. he use a very large lot. i think he is going to stop for a while now.
He was greedy swinging for a home run instead of just getting on base. If you want to go in big...SLs are a must. 2328 is not that far off to bust a guy hard. He should probably lower his lot size 80%. Easy for me to say looking back I know.... I learned the hard way too.
  • #259,838
  • Jun 17, 2010 9:58pm Jun 17, 2010 9:58pm
Quoting Masrim
These ranges give me a deja vu
Yeah, gawlie gee, what's going to happen? It's odd that I had only break even trades from trying to go short this week because these moves are kind of obvious in a way. They have a bullish bias.
  • #259,839
  • Jun 17, 2010 10:09pm Jun 17, 2010 10:09pm
Quoting Masrim
These ranges give me a deja vu

The usual Asian Session.Got to wait the Euro session for the actions.
  • #259,840
  • Jun 17, 2010 10:15pm Jun 17, 2010 10:15pm
Quoting DudeSepii
The usual Asian Session.Got to wait the Euro session for the actions.
Yes well at least I expect some decent volatility later on today.
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