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EurAnalysis Kindergarten 24 replies

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  • #4,121
  • Oct 20, 2011 10:22am Oct 20, 2011 10:22am
Quoting RodMca
If Greece passes these new austerity bills will we see major buying again? In my opinion it will have little affect as all it does it yet again kick the can down the road we had the same situation a few months ago and here we are again! It may interest all of you to know that rumours around corporate Ireland is that we are printing the Irish punt once again! It may be a precaution or it may mean that a split within the Euro is definitely coming. I personally feel that we are close to a major eurozone split!
Greek austerity vote will have as much effect as one of us buying or selling 0.01 lots

As for the Punt, that's plan "B". Hopefully they won't need it.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,122
  • Oct 20, 2011 10:22am Oct 20, 2011 10:22am
Quoting foto
With the scope of the money on the line. European official wavering has got to be fraying the nerves of even the most resolute bailout bulls.
There is much more than money on the line. A failure of the Euro project means world depression in my view. Worse for some than for others, but bad for everyone.
Observation is the path to discovery.
  • #4,123
  • Oct 20, 2011 10:23am Oct 20, 2011 10:23am
Quoting Alorente
Doesnīt look good for you buddy. Good luck. No!! That would be bad luck for me and PT and a bunch of others...
Not really bad luck... just a slight delay.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,124
  • Oct 20, 2011 10:24am Oct 20, 2011 10:24am
Quoting Alorente
Doesnīt look good for you buddy. Good luck. No!! That would be bad luck for me and PT and a bunch of others...
Cool. I had limited luck. The problem is, i short at 1.3820 and my trailing got hit for 60 pips. Actually i had 150 pips target. That is why turning emotional for missing such a beauty.



God damn Trailing stop
  • #4,125
  • Oct 20, 2011 10:25am Oct 20, 2011 10:25am
Tom,

One last thing you might want to think about is the type of style that best suits your personality. Several of us have come out of the closet about our trading styles today. They are all very different. They are all (I hope) profitable. But the key for each of us is that we are happy with our style.
Kill the ego, or it will kill the mission.
  • #4,126
  • Oct 20, 2011 10:25am Oct 20, 2011 10:25am
Quoting PipTrapper
Greek austerity vote will have as much effect as one of us buying or selling 0.01 lots

As for the Punt, that's plan "B". Hopefully they won't need it.
Cheers PT, Am short on s&p from 1220 and short on euro from 1.3820 nearly got closed out but thankfully held my nerve! Now lets see further downside
  • #4,127
  • Oct 20, 2011 10:26am Oct 20, 2011 10:26am
Quoting FX Tsunami
Cool. I had limited luck. The problem is, i short at 1.3820 and my trailing got hit for 60 pips. Actually i had 150 pips target. That is why turning emotional for missing such a beauty.



God damn Trailing stop
Trailing stop or stop loss. same thing. They get in my way. I hate them.
I only use stop loss very far away from my entry just in case of absolute disaster.
Those who say it cannot be done should not interrupt those who are doing it
  • #4,128
  • Oct 20, 2011 10:29am Oct 20, 2011 10:29am
Quoting PipTrapper
almost impossible with volatility and execution delays
I would also recommend looking at another currency pair, one that does not have Euro sized movements.
Kill the ego, or it will kill the mission.
  • #4,129
  • Oct 20, 2011 10:29am Oct 20, 2011 10:29am
Quoting PipTrapper
I would wait till Europe close to see if the sentiment shifts
That would have been the safe game. But unfortunately it is out of my hands now.

And i have got a doubt. Being announced that EFSF cannot be leveraged to the level as expected earlier, how it would affect EUR??

Like it will be good for them to strenghthen it so that they can raise more money???

Since i am new to Forex, i am having such doubts. I would be happy if you guys help me out with this.

Thank you !!!
  • #4,130
  • Oct 20, 2011 10:30am Oct 20, 2011 10:30am
Quoting AaronWard
Tom,

One last thing you might want to think about is the type of style that best suits your personality. Several of us have come out of the closet about our trading styles today. They are all very different. They are all (I hope) profitable. But the key for each of us is that we are happy with our style.
Thatīs a ggod point Aaron. When I first started trading umpteen years ago, I tried to replicate what I read in books. Some things worked and some didnīt, but the main problem is it wasnīt me. It was someone else trading in my skin. It took me years to realize that trading like a good suit, has to fit your personality and desires. It was not until I custom built a trading system to fit ME that I started enjoying this and feeling happy with it.
Observation is the path to discovery.
  • #4,131
  • Oct 20, 2011 10:32am Oct 20, 2011 10:32am
Quoting PipTrapper
Trailing stop or stop loss. same thing. They get in my way. I hate them.
I only use stop loss very far away from my entry just in case of absolute disaster.
Man, you and I really think alike...
Observation is the path to discovery.
  • #4,132
  • Oct 20, 2011 10:32am Oct 20, 2011 10:32am
Quoting Alorente
If it breaks here, next stop is 1185, which will put the Euro at the neckline.
Do u mean next stop of EU 1185?
If there was easy money lying around,no one would be forcing it into your
  • #4,133
  • Oct 20, 2011 10:32am Oct 20, 2011 10:32am
So Sovereigns and ECB sell USDs to buy EURs in order to provide liquidity to banks while the market sells the EURs to buy up USDs and invest in US fixed income funds.

How much longer will this "ring around the rosey" farce keep going on?
Those who say it cannot be done should not interrupt those who are doing it
  • #4,134
  • Edited 10:44am Oct 20, 2011 10:32am | Edited 10:44am
Pt you are a biased man hahahaha, but I think Im gonna play along for break this time..
wish we had a mil$ shots this time forcing the market down!
  • #4,135
  • Oct 20, 2011 10:32am Oct 20, 2011 10:32am
Quoting PipTrapper
Trailing stop or stop loss. same thing. They get in my way. I hate them.
I only use stop loss very far away from my entry just in case of absolute disaster.
So you trade without Stops??

Is that safe?? Some say it would be bad from "money management" point of view. Is it so???

Or you really mean it??
  • #4,136
  • Oct 20, 2011 10:34am Oct 20, 2011 10:34am
Quoting FXMindset
Do u mean next stop of EU 1185?
S&P next stop 1185. Which because euro is correlated with s&p will leave the euro on its neckline.
  • #4,137
  • Oct 20, 2011 10:34am Oct 20, 2011 10:34am
Quoting Tom_D_Trader
Man I strongly suggest you make some blank trades. Excuse me if you already did. But if you didnt, thats the best way to learn.

As guys already said, the most important thing is your entry/exit strategy, not your SL. You can make it with 10 pips SL, but you will need to be very very precise.

T.
I tried demos, but when it is not your own money you do not have that motivation and do not care much if you lose or win. that is why i decided to start with mini live account, that gives much more passion and teaches how to deal with emotions

on, why bulls are so passive? not even trying to bounce up with dignity they have no enough strength or just a bear trap? it smells with something tricky...
As Above, So Below
  • #4,138
  • Oct 20, 2011 10:34am Oct 20, 2011 10:34am
Alorente,
I think there is some validity to the bailout bulls underlying premise, that is that some kind of solution is possible.

But I disagree with them that it will be a cost free pass through to the taxpayer. Much financial pain is to be forthcoming and the behind the scenes arguing is about who will pay what, to keep the Euro afloat.

Also am a firm believer that the Euro has a fundamental flawed structural problem that needs to be corrected.
The USD is backed by a Nation with vast underutilized resources. So The USD problem is a political problem. This will be corrected at the next 2012 election.
From this perspective I think the US is overall in better shape long term then the Euro.
  • #4,139
  • Oct 20, 2011 10:35am Oct 20, 2011 10:35am
Quoting FXMindset
Do u mean next stop of EU 1185?
SP500 not EUR
Those who say it cannot be done should not interrupt those who are doing it
  • #4,140
  • Oct 20, 2011 10:36am Oct 20, 2011 10:36am
... damn, seems I should leave the underwater trade running... price crossed already the entry point . But I was afraid that some good data may come in and try to break the resistance, so I took profit on my rescue short and killed the losing one.

Nah, forget it. Maybe I get a nice short entry when I get home.... At least the week is still positive for me... And maybe we get some huge friday drop...?
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