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EURUSD

  • #263,521
  • Jun 25, 2010 5:44am Jun 25, 2010 5:44am
Quoting forex108
S&p and nasdaq futures turn red
dow futures just turned red also
  • #263,522
  • Jun 25, 2010 5:47am Jun 25, 2010 5:47am
Quoting DudeSepii
I wonder who is really stupid. You have your reasons to Sell and they have theirs to buy so don't get emotional about it.
maybe sellers are in their opinions stupid, they may think that ofcourse, but greece, italy, spain, ireland are so weak. only the scandinavian countries, germany and netherlands are stable. french have pension problems too, so the eur has no legs to stand on.

much eur news is bringing positive now, because they want to protect the euro, but sooner or later the bomb will burst.
  • #263,523
  • Jun 25, 2010 5:54am Jun 25, 2010 5:54am
Quoting dtrader9
maybe sellers are in their opinions stupid, they may think that ofcourse, but greece, italy, spain, ireland are so weak. only the scandinavian countries, germany and netherlands are stable. french have pension problems too, so the eur has no legs to stand on.

much eur news is bringing positive now, because they want to protect the euro, but sooner or later the bomb will burst.
Don't think so...EUR is coming out with good news, as all european currencies especially eastern countries are indexed to euro. With weaker euro their products are cheaper, and even cheaper than China...
  • #263,524
  • Jun 25, 2010 5:57am Jun 25, 2010 5:57am
Quoting guzda
Don't think so...EUR is coming out with good news, as all european currencies especially eastern countries are indexed to euro. With weaker euro their products are cheaper, and even cheaper than China...
true but the financial problems are a lot bigger then now given. a eur/usd from 1.15 or maybe even lower would be more logical.
  • #263,525
  • Jun 25, 2010 6:04am Jun 25, 2010 6:04am
Quoting dtrader9
true but the financial problems are a lot bigger then now given. a eur/usd from 1.15 or maybe even lower would be more logical.
Maybe not. It was global panic about default, and then came undervaluation of euro, so maybe this is correction to current real value.
In my opinion this levels are real: from 1.22 to 1.24...which gives me reason to believe why it is not going up or down...
  • #263,526
  • Jun 25, 2010 6:14am Jun 25, 2010 6:14am
Quoting learntowin
IMO,

Change view :

USD is going to Decline

Keep Buying @ Dips :

EUR / USD
GBP / USD
AUD / USD
Gold / USD

Keep Selling on Rallies :

USD / CHF


Lucky again

So far so lucky
  • #263,527
  • Jun 25, 2010 6:25am Jun 25, 2010 6:25am
I have a question...

Say at the end of the week a place a long order with a SL of 10 pips.
Say monday the market opens 100 pips lower.
Did i loose 10 pips or 100 pips?
  • #263,528
  • Jun 25, 2010 6:26am Jun 25, 2010 6:26am
Quoting longshot_nl
I have a question...

Say at the end of the week a place a long order with a SL of 10 pips.
Say monday the market opens 100 pips lower.
Did i loose 10 pips or 100 pips?
100, and that's why many traders close over the weekend.
  • #263,529
  • Jun 25, 2010 6:27am Jun 25, 2010 6:27am
Quoting Mr J
100, and that's why many traders close over the weekend.
ok cause i asked my broker but thay say i just loose 10 pips.
I figured it can't be so.
Then i would just put orders with tight stops in both directions and always win.
  • #263,530
  • Jun 25, 2010 6:29am Jun 25, 2010 6:29am
whats ur broker...
  • #263,531
  • Jun 25, 2010 6:30am Jun 25, 2010 6:30am
fxopen is my broker.

i asked in chat session.
  • #263,532
  • Jun 25, 2010 6:31am Jun 25, 2010 6:31am
Quoting longshot_nl
ok cause i asked my broker but thay say i just loose 10 pips.
I figured it can't be so.
Then i would just put orders with tight stops in both directions and always win.

Brokers will tell you anything to benefit themselves - Remember what is negative out of your pocket is positive in their pocket. What is positive in your pocket is negative in their pocket. They play dumb but they are smart.

Dont rade friday's (however I trade on fridays but I keep my trade sizes small enough that they are not going to affect me, I would rather risk very little to gain a little possibly) you can get stuck in a position that has gone so much against you maybe not stopped you out but enough to where you might get stopped out in the coming hours but on the weekend you cant even recover any of that loss, to find out that it gaps outside your stop loss 100 pips and you are all of a sudden down and you are panic selling because you dont know if the gap will fill or not, and you are maybe trading too big of a lot size for your account to withstand price replacement over a period of days.

Its Wacky Friday, I see currencies swing up 50 then back down 100 and visa versa. There is no true direction, and news just makes it even crazier on fridays.

No. 1 Rule is if you trade on Friday use this to being the most caution to your trading.
Know when to hold em, Know when to fold em!
  • #263,533
  • Jun 25, 2010 6:35am Jun 25, 2010 6:35am
Quoting longshot_nl
I have a question...

Say at the end of the week a place a long order with a SL of 10 pips.
Say monday the market opens 100 pips lower.
Did i loose 10 pips or 100 pips?

Your broker will close at the first available price on open so you would lose 100. Read the fineprint of your broker's T&C, some brokers clearly state that they will set a price right before the open and use that. They however do not specify what right before the open means, but guess what it usually will be to their favor.
  • #263,534
  • Jun 25, 2010 6:36am Jun 25, 2010 6:36am
Quoting longshot_nl
fxopen is my broker.

i asked in chat session.
I use FXDD they told me they are a dealing desk and not an ECN. I logged the online chat. I then called the broker (my broker fxdd which I already have the account with) and played dumb and asked to speak to sales that I was interested in opening an account. I asked them first if they were a dealing desk and they said no, I then asked are they an ECN they said yes.

I cought them in a lie to earn my business which they already had my business. What a crock of crap huh? I spoke to their manager and yelled at his ass stating they are crooks and I am moving my money away. I made them credit me $200 which they did, I was satisfied and I went to continue using my hidden Stop Loss EA

Joke is on them!!!

I am looking at TDFX they seem to be honest and they post a thread here addressing all and every concern.
Know when to hold em, Know when to fold em!
  • #263,535
  • Jun 25, 2010 6:40am Jun 25, 2010 6:40am
Quoting goods
Brokers will tell you anything to benefit themselves - Remember what is negative out of your pocket is positive in their pocket. What is positive in your pocket is negative in their pocket. They play dumb but they are smart.

Dont rade friday's (however I trade on fridays but I keep my trade sizes small enough that they are not going to affect me, I would rather risk very little to gain a little possibly) you can get stuck in a position that has gone so much against you maybe not stopped you out but enough to where you might get stopped out in...
Thanks for the advice.
I canceled my pending orders.
  • #263,536
  • Jun 25, 2010 6:41am Jun 25, 2010 6:41am
Quoting longshot_nl
Thanks for the advice.
I canceled my pending orders.
If your question was clear, you should consider closing your account with them.
  • #263,537
  • Jun 25, 2010 6:42am Jun 25, 2010 6:42am
US Equity is going down, how come EU can go up?
  • #263,538
  • Jun 25, 2010 6:43am Jun 25, 2010 6:43am
Quoting longshot_nl
Thanks for the advice.
I canceled my pending orders.

I dont want to tell you what to do with your orders but you seem fairly new with this stuff its good that you take head and caution to the wind from another retail trader who has been in your shoes. Do as you wish, use this as an experience that I am just being honest and looking out for someone's best interest. Alot of hedge funds are in and out within minutes playing big big millions of $$ within minutes to make great fortunes, you get cought up in those moves and it can get hairy.

Gl to you on your endeavor my friend.
Know when to hold em, Know when to fold em!
  • #263,539
  • Jun 25, 2010 6:45am Jun 25, 2010 6:45am
Quoting Mr J
If your question was clear, you should consider closing your account with them.

I think I agree with your statement. FXDD and Gain are not the best in the world but the most reputable of bucket shop brokers. I personally want to go with an ECN I would rather pay spread commission that comes out equivelant to a spread price, just so I wont have to deal with the dis-honesty, and trading against accounts.

I like the facts that ECN's are honest and want people do do good because it is in their interest to make a set commission on every single trade. They are the good guys.
Know when to hold em, Know when to fold em!
  • #263,540
  • Jun 25, 2010 6:50am Jun 25, 2010 6:50am
Quoting FXTheOne
US Equity is going down, how come EU can go up?

Dude look at EURUSD since 2008/vs current 2010. In 2009 sentiment became a sellers market.

These setbacks are nothing mere pullbacks - define whatever is occuring during these setbacks as you well, I will not attempt to figure them out I will just trade according to the right time and setup, and these past weeks there is no direction whatsoever except for a bigger pullback than I expected. (granted they take a long time, this is the purpose of retracements, no one really knows 100% where a retracement will end). Look for a significant significant pullback an sell. Make 100's of pips keeping your trade open. I will wait till 1.2400 to place a short order. I will give myself a 150 pip stop loss.
Know when to hold em, Know when to fold em!
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