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EURUSD

  • #571,321
  • Dec 7, 2011 12:06pm Dec 7, 2011 12:06pm
Quoting FXMindset
What r u waiting for guys
London Open me.
  • #571,322
  • Dec 7, 2011 12:06pm Dec 7, 2011 12:06pm
me thinks down move is in force, may short again and leave overnight.
  • #571,323
  • Dec 7, 2011 12:06pm Dec 7, 2011 12:06pm
Quoting eliabreu
insane leverage can make millions but is not consistent. I try to find metods but always fail...
today I try to trade with the better of 2 worlds: high leverage and risk managment but is hard to find equilibrium point...
because when you trade high leverage that means you need to have super small s/l to reduce your risk which is really hard because a good trader doesnt mean he has to buy exactly at the bottom or 5-10 pips around the bottom and close his long exactly at the top or 5-10 pips around the top, or he has to catch 99% of the movement, he only needs to catch 70-80% of the move is good enough with a few add in on the way in a long-term trade, or even 60% is amazing in my opinion. but for high leverage, it is super hard especially market can move hundred pips in a few minutes and i doubt if those high leverage traders have patient and cofidence to hold their positions when they are sleep.
  • #571,324
  • Dec 7, 2011 12:08pm Dec 7, 2011 12:08pm
Quoting whatfx
i grabbed myself 10 pips on the downside !
Oh I'm just pissin around with small positions to be honest. Wife's wrapping pressies so it's something to do till Attenborough and the polar bears come on.

Was up 20 but she's reversing. Probably just move SL to BE and let it go. Geppy could be right and it could swing to the upside very easily. Or it could just coil up to nothing for the night. Bit of a shite trade really.
  • #571,325
  • Dec 7, 2011 12:10pm Dec 7, 2011 12:10pm
Quoting Tom_D_Trader
I value Sisse very much. He is very kind and I consider him my mentor. We have already discussed several topics and he always inspired me. In fact, he, together with Fool, PipTrapper and cloggie managed to give me information overflow 14 days ago, so I had to have a break for a week to chew it all.

T
Indeed, there are all types of people on the site, with all types of backgrounds, trading all types of methods. Problem is that most people are only interested to telling you that their analysis, or method is the only way to go. What, you trade on the 1min, impossible. You use MA's, thats crazy. PTL, what do you mean you use the mid from 2005/08 leg, are you mad. Its amazing how much time is spent by people telling other people that there doing it all wrong. Myself, I dont give a fuck how you trade really. If I see something interesting, I may ask a guy, hey, how do you use that method, or where did you come up with that level. If I think your off your rocker, well I'll wish you luck, and be on my way.
Look Sharp/Trade Tight
  • #571,326
  • Dec 7, 2011 12:10pm Dec 7, 2011 12:10pm
Hi Guys, just stepping in from my equities trading. FF says that the euro rate is expected to remain the same, but I have heard rumblings of a drop. What's the feel here?
  • #571,327
  • Dec 7, 2011 12:11pm Dec 7, 2011 12:11pm
Quoting DaveUK
Oh I'm just pissin around with small positions to be honest. Wife's wrapping pressies so it's something to do till Attenborough and the polar bears come on.

Was up 20 but she's reversing. Probably just move SL to BE and let it go. Geppy could be right and it could swing to the upside very easily. Or it could just coil up to nothing for the night. Bit of a shite trade really.
wasnt too bad today, tbh.

down move should continue for at least 2hrs me thinks. and then it we should see a rally up, hopefully.
  • #571,328
  • Dec 7, 2011 12:13pm Dec 7, 2011 12:13pm
Quoting Geppy
Started as a hobby back in early 2005 senior year in college. I didn't know much about FX, but I did know about technicals. Still, I didn't see much success. I stopped trading for awhile and learned pretty much everything... read an introductory book on FX and learned about fibos, did some online research to understand fundamentals and what effects the greater macro trends, etc.


So, to answer your question... I've been trading for about 7 years come the new year.
You and I have a lot in common. I pretty much let the market dictate to me when to go in and how much profit I am allowed for any particular trade. It is not possible to outsmart or outlast the market.

I hope people learn from their mistakes as you and I have which does not end. There will always be a, "...woulda, coulda, shoulda..." in the course of a trading day.
Taigen Profit This Month: na
  • #571,329
  • Dec 7, 2011 12:15pm Dec 7, 2011 12:15pm
Started shorting around 1.3408, think we continue to move south. Rationale is more fundamental, think that eu is faced with catch 22 this weekend. Rating agencies have clearly shown their hand, they want immediate resolution - only way this happens is if ECB prints, which is bad for EUR. However, due to a lot of hope going into this thing, if they dissapoint, will also be bad and we will have a flight to saftey (USD).

We shall see, I'm willing to risk about 50 pips on this, but I really doubt we see those levels again before the weekend.

also, maybe another cut tmw am??
  • #571,330
  • Dec 7, 2011 12:16pm Dec 7, 2011 12:16pm
looks like we are stuck in a even supply and demand zone at the moment. if it goes above, its a better position to short !
  • #571,331
  • Dec 7, 2011 12:18pm Dec 7, 2011 12:18pm
Quoting whatfx
looks like we are stuck in a even supply and demand zone at the moment. if it goes above, its a better position to short !
I think it will trap shorts, and go way way above before correcting after many margin calls lol
  • #571,332
  • Dec 7, 2011 12:22pm Dec 7, 2011 12:22pm
Quoting PayTheLimit
Indeed, there are all types of people on the site, with all types of backgrounds, trading all types of methods. ....
Well, I just 100% agree. Maybe 80% of my fights here were when someone was mocking some other system. Like Micho mocking fundamentals, Turveyd S/R.... 20% of fights were when I was mocking someone for fun. Hmm, or was it 70/30? Dunno, sometimes I am pretty offensive pig just for fun.

T
"I know one thing, that I know nothing." Sokrates
  • #571,333
  • Dec 7, 2011 12:24pm Dec 7, 2011 12:24pm
Quoting sidhujag
I think it will trap shorts, and go way way above before correcting after many margin calls lol
time will tell my friend.

at the moment iam hoping to catch a short before bedtime. after that - bullish probability

directionless today. very strange behaviour.
  • #571,334
  • Dec 7, 2011 12:25pm Dec 7, 2011 12:25pm
Quoting TradeWell
Hi Guys, just stepping in from my equities trading. FF says that the euro rate is expected to remain the same, but I have heard rumblings of a drop. What's the feel here?
My feelings are hopium liquidity/hope/ECB jawboning tomorrow for a short term bull. And once they present their brilliant solution from summit, we are heading down. I just hope that bull will bring us above 1,35 so I could load some heavy shorts. Ahh, what a great time for me would that be.

T
"I know one thing, that I know nothing." Sokrates
  • #571,335
  • Dec 7, 2011 12:25pm Dec 7, 2011 12:25pm
And they don't deserve it? Ofc they do, every potential trader has the right to settle with whatever system suits them ... if that system is profitable, more than better.

That's the way it should be looked upon, but hey, that's just my 2 pipettes.
Please, just slap me around if I'm being silly ...
  • #571,336
  • Dec 7, 2011 12:30pm Dec 7, 2011 12:30pm
More info on the ECB rate decision: "The ECB will reduce its benchmark rate to 1 percent from 1.25 percent tomorrow, according to the median estimate of economists surveyed by Bloomberg News."
  • #571,337
  • Dec 7, 2011 12:30pm Dec 7, 2011 12:30pm
Quoting DaveUK
Oh I'm just pissin around with small positions to be honest. Wife's wrapping pressies so it's something to do till Attenborough and the polar bears come on.

Was up 20 but she's reversing. Probably just move SL to BE and let it go. Geppy could be right and it could swing to the upside very easily. Or it could just coil up to nothing for the night. Bit of a shite trade really.

Forget Sir Attenborough, 9pm BBC 2

Inside Job - Award winning Premiere. Analysis of the events that brought about the 2008 economic crisis. The film examines the influence the financial industry has on the political process across the world, and how practices of the markets made the disaster inevitable. Featuring contributions from major political, financial and journalistic figures. Narrated by Matt Damon.
  • #571,338
  • Dec 7, 2011 12:34pm Dec 7, 2011 12:34pm
Quoting TradeWell
More info on the ECB rate decision: "The ECB will reduce its benchmark rate to 1 percent from 1.25 percent tomorrow, according to the median estimate of economists surveyed by Bloomberg News."
They will do something for sure. Euro is so low now, that if selling starts, we can get panic and hyperbolic down.

But keep in mind that last time when they announced rate cut, it had hardly any impact on markets. Will it have impact now?

I expect heavy jawboning. Something like:
"We will not let European banks fall"
or "We will expand our ballance sheet with more sovereign bonds."
or that ratecut "We are prepared for immediate ratecut if necessarry."

Edit: Oh oh, and I almost forgot: "We are prepared to lower collateral requirements."

T
"I know one thing, that I know nothing." Sokrates
  • #571,339
  • Dec 7, 2011 12:36pm Dec 7, 2011 12:36pm
Quoting Tom_D_Trader
My feelings are hopium liquidity/hope/ECB jawboning tomorrow for a short term bull. And once they present their brilliant solution from summit, we are heading down. I just hope that bull will bring us above 1,35 so I could load some heavy shorts. Ahh, what a great time for me would that be.

T
I agree with you Tom. that was posted 8 hours ago. I still think (hope ) we will see 1.345 or higher soon.
Quoting tashkent
these all movements down were predictable. big boys are getting prepared to EU summit, soon they start buying low. but at the moment enjoying eating up stop losses. bear trap ahead.
As Above, So Below
  • #571,340
  • Dec 7, 2011 12:38pm Dec 7, 2011 12:38pm
Quoting Tom_D_Trader
I just hope that bull will bring us above 1,35 so I could load some heavy shorts. Ahh, what a great time for me would that be.

T
I am long from 3370. Looking for a chance at 3685. I am risking them to 3330. Its not my normal type trade, for sure. In fact its quite rare that I hold trades for more that a few hours. I have had important support near the 3363/76 level for a few days, and I took these longs yesterday on the after frankie broke it, and London retook it in the first hour. Anyway, its a long way to 3685, with 3518/42 big ass resistance, but hell, I'm taking a long shot to close the year out, screw it...
Look Sharp/Trade Tight
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