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EUR/CHF

  • #3,741
  • Mar 21, 2012 11:43am Mar 21, 2012 11:43am
Quoting worsttrader
my entry level is 2270. of course, i can exit but then i have to book a huge loss. this is that point where not worth to quit.
eeh.. got it

Entry level very high

I am scalping from so long

I open 1 lot (1.2056) which I see right if it goes 5 pips against me I open 2 lots(1.2050)
5 pips against me 3 lots i.e. 1.2040

Stop floor, I close for 5 pips gain or sometimes for 3 pips
So far working But if the floor is broken, it will take my all profit so I will end up break even

If you have margin you can try average out but your entry is way far
  • #3,742
  • Mar 21, 2012 11:52am Mar 21, 2012 11:52am
Quoting coolkaps4u
eeh.. got it
Entry level very high
If you have margin you can try average out but your entry is way far
this is the problem, i dont have enough margin. only thing i can do is waiting...at least to reach my entry level where i can close this position with no profit. after 3 months of waiting, i would accept it.
  • #3,743
  • Mar 21, 2012 12:10pm Mar 21, 2012 12:10pm
I have a similar problem, my entry point is 1,2165 considering positive swaps of last 3 months, my position is small but my account too.

I have margin to open another position long here, but i'm very afraid because if peg will be broken, my account will be halved.

Open a new position here or wait wait and wait? This is the question...
  • #3,744
  • Mar 21, 2012 12:12pm Mar 21, 2012 12:12pm
Ok, the moment is coming. With the pair unable to make new lows, the next upmove is just a matter of short-time, near future.
At this point, what we have to concentrate on is the willingness of profit.
If the willingness is not pure, well controlled, we may esitate on the moment of truth, and take the profit too early.
My willingness of profits is pure, and i will not take anything below 1.3250.
About the worsttrader and the other trader, i am with worsttrader, this is a business where if you take huge risks all the time you will end up bankrupt for sure, but on the other hand, if you want to make big profits enough to change your life, you must risk everything, the bigger the risk the bigger is the reward, there are some situations where if you feel that risking everything is the way to go, it is the way to go. I did it in the past, and it resulted in a drastic change of my (financial) life, so it is true sometime risk everything result in a huge win, sometime not of course. But to risk everything there must be big balls, some have some don't have.
Worsttrader i'm playing your same game, with courage and without worries, it go well or it go shit, time will tell. I fully belive this eurchf trade is worth the risk, the only reason it can fail is that snb remove the peg, it is a possible scenario imo, but unlikely.
Good luck!
  • #3,745
  • Mar 21, 2012 12:15pm Mar 21, 2012 12:15pm
Quoting eire77
I have a similar problem, my entry point is 1,2165 considering positive swaps of last 3 months, my position is small but my account too.

I have margin to open another position long here, but i'm very afraid because if peg will be broken, my account will be halved.

Open a new position here or wait wait and wait? This is the question...
imo open a new pos, a smaller one. i would do the same if i would be able to do. i dont think that peg will broken.
of course, its only my opinion, do what u prefer.
  • #3,746
  • Edited 12:28pm Mar 21, 2012 12:17pm | Edited 12:28pm
Quoting tunera
Ok, the moment is coming.

thank u for ur words.
good luck to all!
  • #3,747
  • Mar 21, 2012 12:34pm Mar 21, 2012 12:34pm
Quoting worsttrader

thank u for ur words.
good luck to all!
I don't see it broken soon But still I will be doing scalping for now to achieve my daily targets.
April new chief may bring this UP , once it should go up what level can't say

http://www.reuters.com/article/2012/...82J0CW20120320
  • #3,748
  • Mar 21, 2012 1:06pm Mar 21, 2012 1:06pm
Went long 1.02574 for 3-4 pips , If I get

Ideal entry 1.2056 for today not worked so taken what it gives

I still believe it will hit 1.2050 sooner or later to take some stops at 1.2040 than flew up to same levels

Hold the floor for some more time
April end will be time to fly or break floor. I hope it should hold till then
  • #3,749
  • Mar 21, 2012 1:13pm Mar 21, 2012 1:13pm
Quoting worsttrader
my entry level is 2270. of course, i can exit but then i have to book a huge loss. this is that point where not worth to quit.
Don't know if that's worth a cry or a good laugh.
Anyway, once you get more experience you will see that it is always worth to take the loss in a hopeless situation.

It is obvious that you even don't want to settle for a smaller loss, otherwise you would have take your loss a few days ago when it was 1.2140.

In other words, your situation is hopeless already. The only thing worth to do is cut it here and now completely so you can trade again with what you have left.

If you don't do that you keep being drained emotionally and even physically with what your doing and sooner or later you will quit trading altogether because there is no fun in it anymore.
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  • #3,750
  • Mar 21, 2012 1:15pm Mar 21, 2012 1:15pm
Quoting KillerWhale
Don't know if that's worth a cry or a good laugh.
Anyway, once you get more experience you will see that it is always worth to take the loss in a hopeless situation.

It is obvious that you even don't want to settle for a smaller loss, otherwise you would have take your loss a few days ago when it was 1.2140.

In other words, your situation is hopeless already. The only thing worth to do is cut it here and now completely so you can trade again with what you have left.

If you don't do that you keep being drained emotionally and even physically...
So if you don't have guts and can't take the loss I really hope for you that you will go bankrupt as soon as possible.
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  • #3,751
  • Mar 21, 2012 1:19pm Mar 21, 2012 1:19pm
Quoting worsttrader
this is the problem, i dont have enough margin. only thing i can do is waiting...at least to reach my entry level where i can close this position with no profit. after 3 months of waiting, i would accept it.
And waiting it out is absolutely nonsense. You can't make money somewhere else because you have no margin and it can take a year or 2 before it gets back to your entry or it may not happen before you die.
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  • #3,752
  • Mar 21, 2012 1:27pm Mar 21, 2012 1:27pm
Quoting KillerWhale
So if you don't have guts and can't take the loss I really hope for you that you will go bankrupt as soon as possible.
Well, I agree with KillerWhale on that more experience you become.
The more you will cut your losses.

Only thing, I don't agree is the manner in which he says the things seems raw and blunt. He said to me also as that broker will take all my money etc.
I take it light as I know the trade which I have opened from last one year still not closed is in loss of 10k+ now and given me interest of 6k+ so I am ok with it.

He was right in advice to me that I should have cut it, I know also as I was new trader at that time and firmly believe in my trade it can go wrong.

Now, I am bit more experienced but still not able to close that trade to book loss of 10k still keeping it open

KillerWhale: You are experience trader no doubt, I am also learning
When trade goes wrong HOPE comes into picture than WISH
than DIE
so better to kill before it reaches hope stage.

Since SNB floor still in place, I will not advise him to book so much losses
when he has taken so much, 50 pips before floor and getting back risk reward ratio favors him

I will advise to put stop at 1.2000 exact there will be very high slippage whenever floor is broken even 1.2010 is not a bad place for stops on this beast
  • #3,753
  • Mar 21, 2012 1:41pm Mar 21, 2012 1:41pm
How much is the SWAP that it makes risking your trading life worth for?

Just see it this way: I make an average of 3 to 4 % per week profit on my trading capital.
Do you get that much in SWAP? I doubt it.
Taking the loss and be free of burdens can give you the possibility of doubling your capital every 6 months.
You can't get that in SWAP.
I've tried it with MUCH BETTER SWAP years ago when I was trading GBP/YEN in 2005 - 2007
Believe me, SWAP can NEVER OUTPERFORM trading for pips if you trade wisely.

Anyway, I don't see much upside and just tell me what makes you think that we could see back levels of 1.220 or higher? I don't see any.
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  • #3,754
  • Mar 21, 2012 1:53pm Mar 21, 2012 1:53pm
Quoting KillerWhale
How much is the SWAP that it makes risking your trading life worth for?

Just see it this way: I make an average of 3 to 4 % per week profit on my trading capital.
Do you get that much in SWAP? I doubt it.
Taking the loss and be free of burdens can give you the possibility of doubling your capital every 6 months.
You can't get that in SWAP.
I've tried it with MUCH BETTER SWAP years ago when I was trading GBP/YEN in 2005 - 2007
Believe me, SWAP can NEVER OUTPERFORM trading for pips if you trade wisely.

Anyway, I don't see much upside and...
I am only scalping EUR/CHF for few pips for my daily target.
I am in a trade USD/INR from August, swap is almost 15-18$/day on my position so I kept open and I will close it when I see i can't hold anymore.
It work hedge for me as well as I am indian and transfer money to India when it reaches high so i get good rate

Rest you are right in analysis, I would like to close my trade also USD/INR not just there yet.
  • #3,755
  • Mar 21, 2012 2:11pm Mar 21, 2012 2:11pm
Quoting coolkaps4u
I am only scalping EUR/CHF for few pips for my daily target.
I am in a trade USD/INR from August, swap is almost 15-18$/day on my position so I kept open and I will close it when I see i can't hold anymore.
It work hedge for me as well as I am indian and transfer money to India when it reaches high so i get good rate

Rest you are right in analysis, I would like to close my trade also USD/INR not just there yet.
If you want low risk scalp for daily target, try EUR/GBP.
You can play this up and down together.
The fun is in the fact that the range is limited compared to EUR of GBP which means for me that I can play it with higher leverage without taking on much more risk.
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  • #3,756
  • Mar 21, 2012 2:13pm Mar 21, 2012 2:13pm
Quoting KillerWhale
If you want low risk scalp for daily target, try EUR/GBP.
You can play this up and down together.
The fun is in the fact that the range is limited compared to EUR of GBP which means for me that I can play it with higher leverage without taking on much more risk.
yeah, I played it twice last week
Only thing about this pair, it is manipulative, you understand that fact
I scalp daily for 10 pips if I see trade, there are many better for 10 pips a day.
  • #3,757
  • Mar 21, 2012 2:24pm Mar 21, 2012 2:24pm
Quoting worsttrader
my entry level is 2270. of course, i can exit but then i have to book a huge loss. this is that point where not worth to quit.
@coolkaps4u Floor isn't going anywhere for a while. I would be very surprised if it was this year.

my twitter ID is coolkaps4u
I follow some trade guru and they also believe in floor for now
  • #3,758
  • Mar 21, 2012 2:53pm Mar 21, 2012 2:53pm
Quoting coolkaps4u
@coolkaps4u Floor isn't going anywhere for a while. I would be very surprised if it was this year.

my twitter ID is coolkaps4u
I follow some trade guru and they also believe in floor for now
What use does that floor have if for the rest you are paralyzed to trade?
I just don't get it.
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  • #3,759
  • Mar 21, 2012 2:59pm Mar 21, 2012 2:59pm
Quoting KillerWhale
What use does that floor have if for the rest you are paralyzed to trade?
I just don't get it.
But I've spend enough time with the losers here.
I don't think you will find many winner in this thread, it is obvious that even good advice doesn't get ground here.
Maybe that is also logical, since why would a winning trader spend much time in this thread of in this currency where profits are extremely rare and if there are profits then it is pure speculation, not trading whatsoever.
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  • #3,760
  • Mar 21, 2012 3:06pm Mar 21, 2012 3:06pm
the f@?#!@# pair has fluctuated within a 2 pip range for 4 hours. Scalping by goin long on a bearish trend is tedious as hell.
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