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  • #405,521
  • Mar 12, 2011 9:53am Mar 12, 2011 9:53am
after digesting what initially seemed like positive news on euro, the fact that they are nearly doubling the bail out fund must mean that the debt crisis runs that much deeper, after having the entire weekend to mull it over, let's see if the market agrees...

Price currently unchanged from yesterday's close...
  • #405,522
  • Mar 12, 2011 9:54am Mar 12, 2011 9:54am
Quoting Allseeingeye
Whats the longer run 2 weeks or 2 months or 2 years.
There will be another summit in 25 March, we already know that.
The speculative bidding in EUR/USD is all about rate hikes by ECB, we already know that. The rate hike is priced in, but until it is officialy announced we maintain the old-school aproach "buy the rumour, sell the news". So far this is first date that I see as a meaningfull and consistent EURO sell rally that might be powered further more by May bank stress tests (that are bull%^%t, we already know). And then there is supposed QEII ending...
  • #405,523
  • Mar 12, 2011 9:56am Mar 12, 2011 9:56am
Quoting SerpentDove
It depends how you define Islands... if you mean underwater mountains with their peaks protruding from the ocean surface, usable only by seaguls as resting places, yeah it's possible. If you mean Islands with Greeks actually living on them. We will hang our current government, imprison the previous one and default on our debts with a big smile and a bigger middle finger. We didn't make it 3000 years by giving our land away. Riots, LOL we riot when it's been to long since the last riot and we've fallen out of practice..
And You are absolutley right. Wanna know what I say about it? Nike. Just do it.
  • #405,524
  • Mar 12, 2011 10:04am Mar 12, 2011 10:04am
The USD will fall 20 percent and Japan is in big trouble.The think tank is now talking if this is going to be the perfect time to let the dollar go. They have someone to blame so it seems so this is an open window to let the dollar do a sudden crash.

This will be a disaster greater then the media is allowing out.
  • #405,525
  • Mar 12, 2011 10:11am Mar 12, 2011 10:11am
Quoting Alihuzaifa
...... averaging down is much better option then hedging.
Averaging down is no better. If you are indecisive the best decision is to exit right then and there.
  • #405,526
  • Mar 12, 2011 10:29am Mar 12, 2011 10:29am
How's it going folks... hope everyone is enjoying their weekend thus far.

Thoughts out to our brothers in Japan...
  • #405,527
  • Mar 12, 2011 10:43am Mar 12, 2011 10:43am
Quoting kill56
trying wife visiting family and its too dam cold to work in the garden , what the fick u want me to do
want u transfering some bucks to my account ; D
Hero calls followed by margin calls...
  • #405,528
  • Mar 12, 2011 10:53am Mar 12, 2011 10:53am
Quoting PhAnTi'
want u transfering some bucks to my account ; D
lol how much u want name it


added some more at rhe grave yard

http://www.forexfactory.com/showthread.php?t=246111
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  • #405,529
  • Mar 12, 2011 11:02am Mar 12, 2011 11:02am
S zone...
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  • #405,530
  • Mar 12, 2011 11:12am Mar 12, 2011 11:12am
Quoting Venice
How's it going folks... hope everyone is enjoying their weekend thus far.

Thoughts out to our brothers in Japan...
  • #405,531
  • Edited 11:27am Mar 12, 2011 11:15am | Edited 11:27am
Quoting Flynchenberg
EURO negative in longer run. Almost double increasing in EFSF lending means there is more trouble in PIIGS countries than they officialy speak about.
And it looks like Greece is forced to sell the islands to, well, Germans I think. I predict a riot.
Nevertheless, Ireland is f&%$"ed hard this time.
"It is unclear whether the measures will be enough to calm market concerns that heavily indebted Greece, Ireland and Portugal will be not able to meet their debt payments"
http://www.ft.com/cms/s/0/fe1530e6-4...#axzz1GLntpMlE

"In a blow to European Central Bank President Jean-Claude Trichet, it won’t be allowed to purchase debt in the open market or to finance debt buybacks.
http://www.bloomberg.com/news/2011-0...greek-aid.html

Let's see how Trichet handles this. Don't assume that this is EU positive until the market tells you how this "deal" is being digested.
  • #405,532
  • Mar 12, 2011 11:25am Mar 12, 2011 11:25am
I believe as long as we hold 1.3744 we could see 1.44..Below 1.3744 and it could be a long ways down..
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  • #405,533
  • Mar 12, 2011 11:30am Mar 12, 2011 11:30am
The bears are starting to flex their muscles.
http://www.forexcrunch.com/eu-deal-w...-from-bailout/
  • #405,534
  • Mar 12, 2011 11:33am Mar 12, 2011 11:33am
Quoting wwwin
The bears are starting to flex their muscles.
http://www.forexcrunch.com/eu-deal-w...-from-bailout/
taken from your FT article:

It is unclear whether the measures will be enough to calm market concerns that heavily indebted Greece, Ireland and Portugal will be not able to meet their debt payments.
  • #405,535
  • Mar 12, 2011 11:39am Mar 12, 2011 11:39am
Quoting Flynchenberg
EURO negative in longer run. Almost double increasing in EFSF lending means there is more trouble in PIIGS countries than they officialy speak about.
And it looks like Greece is forced to sell the islands to, well, Germans I think. I predict a riot.
Nevertheless, Ireland is f&%$"ed hard this time.
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  • #405,536
  • Edited 11:57am Mar 12, 2011 11:43am | Edited 11:57am
Hi guys,

I've just went through the worst week since the beginning of the year and I think it's worth sharing it here. Only because I know that lots of you (noobs) might be going through exactly same situation on some point. (of course I still feel a noob after 6 months of trading altogether)

Alright, everything was going just great since I've applied new strategy to my trading about 3 months ago. I wanted it to be stupid simple: 100 pips a week + limited number of trades. It's 20 pips a day, no more than 3 trades a day, no more than 20-30 pips a trade. Kinda' hit and run strategy. Of course, I also keep my trading book - it's extremely important to stick to the plan.

But to the crux of the matter: I was so unfortunate (yes, now I see how unfortunate I was! to have 2 great trading days 150-200 pips a day and in general one of the best trading week ever! Great, isn't... But I broke my rules and I found it profitable so I thought that's it, I will try to speed it up a bit. And guess what: next week I started very badly on Monday and decided to bend the rules again. And this was the worst week I ever had - I lost almost 3 weeks profit in one week - about 450 pips. Fortunately this week is over because I was so angry that couldn't stop the revenge mode.

So the point is PATIENCE & RULES. I'm back on my rules now with the beginning of the new week but I see how silly it was and I can't believe I did it. So guys, if you're still learning and have no proven experience yet - make a plan, stick to it otherwise there's a great chance to loose everything on some point.
  • #405,537
  • Mar 12, 2011 11:53am Mar 12, 2011 11:53am
Quoting FibbinArchie
http://www.youtube.com/watch?v=hamKl-su8PE

fibby dam it bro enjoy u fooken weekend have some hashforex a drink

get some sox coffee
  • #405,538
  • Mar 12, 2011 11:58am Mar 12, 2011 11:58am
Quoting rjlacha
I believe as long as we hold 1.3744 we could see 1.44..Below 1.3744 and it could be a long ways down..
you clearly belong to the commercial section
  • #405,539
  • Edited 12:19pm Mar 12, 2011 12:03pm | Edited 12:19pm
Quoting kill56
fibby dam it bro enjoy u fooken weekend have some hashforex a drink

get some sox coffee
going out on the town later tonight kill, gotta put a few hours in since I'm holding over the wkend, short from 860... (last time I trade Friday pm, lol)...

Current:
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  • #405,540
  • Mar 12, 2011 12:46pm Mar 12, 2011 12:46pm
These are different scenarios I'll be looking at next week. The thicker the lines the stronger I feel about that particular move.
Horizontal lines are important levels where it can hesitate and screw with our heads.
Shaded blue are pissy areas, good for scalping.

We'll see which path it will choose for our enjoyment.

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And here's why.

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