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  • #663,681
  • Jul 1, 2012 10:09pm Jul 1, 2012 10:09pm
Quoting laffin2bank
Do you know (literally) anything about the eurozone, at all?

Why would you ever buy a Euro, ever? You're calling me an idiot is actually laughable.
You're a funny guy =)

The euro is much more worth than USD, the euro dept crisis is so small compared to the american 13.000.000.000.000 depts that never ever can be paid back!
Before euro falls and fails, USD will do so first.
  • #663,682
  • Jul 1, 2012 10:18pm Jul 1, 2012 10:18pm
Quoting laffin2bank
Buy 1.2580? What? The EUR/USD isn't a buy anywhere. In 6 months it might go to 0.00. Why would you risk that for, what, 50-200 pips?

Trade the Aussie and the Kiwi instead, save yourself and your account a lot of stress.
0.00??? It has bad fundamenals but this? Also long term trend is negative. You forgot something anyone who wishes to trade inside union is better of with common currency, plus weaker currency adds to export guess whats germany doing yup exporting cars to China... My wildest calculations are that it will hit 0.8 to USD but the probability of steep fall is low.
  • #663,683
  • Jul 1, 2012 10:18pm Jul 1, 2012 10:18pm
Still holding my short from 1.2636. Target is 1.2587, stopīs at 1.2639. Off to bed.
  • #663,684
  • Jul 1, 2012 10:22pm Jul 1, 2012 10:22pm
Yes my friend but the US has a Central Government and a trillion dollar GDP.
  • #663,685
  • Jul 1, 2012 10:22pm Jul 1, 2012 10:22pm
Quoting Napoleon180
You're a funny guy =)

The euro is much more worth than USD, the euro dept crisis is so small compared to the american 13.000.000.000.000 depts that never ever can be paid back!
Before euro falls and fails, USD will do so first.
THE USA IS A CURRENCY ISSUER, NOT LIKE A HOUSEHOLD OR BUSINESS. ITS DEBT IS DENOMINATED IN USD, WHICH IT CAN SOLELY CREATE. WE


EURO COUNTRIES ARE CURRENCY USERS, LIKE HOUSEHOLDS AND BUSINESSES. ITS DEBT IS DENOMINATED IN EUROS, WHICH IT HAS NO POWER TO CREATE.

BETTING AGAINST THE US IS BETTING THAT CONGRESS WILL REFUSE TO PAY INTEREST ON US GOVIES. NOT GOING TO HAPPEN IN THIS LIFETIME.

**I mean this honestly, if you don't understand this basic difference between the two monetary systems, please don't trade in the currency market, you're going to go broke. This is very basic economics.**

But..

Yeah man it's a great trade!!

1. Bond markets didn't sell off, which confirms that Friday's rally was false and driven mostly by pit traders in /ES. So buy it!!!! *?*
2. European summit #19 leads me to believe the Euro will print enough to save itself, so of course its a buy! (?)
3. No headline risk in EU either! It's a good trade!!! (?)

Yeah, you guys got all your bases covered. Regular Steven Cohens!

Seriously though, I'm not an idiot. I've been doing this for awhile and it's in your best interest to heed my caution. Might not be today or tomorrow but the euro will fail. Anyone who thinks otherwise is in for an extremely rude awakening mid-term.

People are cheering the market so they can dump euros on dumbasses, like (unfortunately) you.

If you actually knew anything about TA you'd be looking at long charts on US and euro sovy debt, /ES & euro indices, and running for fucking cover.
  • #663,686
  • Jul 1, 2012 10:26pm Jul 1, 2012 10:26pm
I am short on intraday basis, but I am bullish on euros for longer term.
  • #663,687
  • Jul 1, 2012 10:27pm Jul 1, 2012 10:27pm
Quoting KillerWhale
Maybe I know a tiny bit. I lived there for 46 years.
So you're long Monti & Van Rompuy, then? Ha
  • #663,688
  • Jul 1, 2012 10:27pm Jul 1, 2012 10:27pm
Quoting laffin2bank
THE USA IS A CURRENCY ISSUER, NOT LIKE A HOUSEHOLD OR BUSINESS. ITS DEBT IS DENOMINATED IN USD, WHICH IT CAN SOLELY CREATE. WE


EURO COUNTRIES ARE CURRENCY USERS, LIKE HOUSEHOLDS AND BUSINESSES. ITS DEBT IS DENOMINATED IN EUROS, WHICH IT HAS NO POWER TO CREATE.

BETTING AGAINST THE US IS BETTING THAT CONGRESS WILL REFUSE TO PAY INTEREST ON US GOVIES. NOT GOING TO HAPPEN IN THIS LIFETIME.

**I mean this honestly, if you don't understand this basic difference between the two monetary systems, please don't trade in the currency market,...
this is a trading thread.. ppl trading long and short position.. [depends of trading style]

But I have a question for you :

If you are THAT sure that EUR is going only south.. why you are not shorting 10-20 lots here ?? c'mon mate.. be a man.. ALL IN>>

cheers!
  • #663,689
  • Jul 1, 2012 10:34pm Jul 1, 2012 10:34pm
Quoting Piters
this is a trading thread.. ppl trading long and short position.. [depends of trading style]

But I have a question for you :

If you are THAT sure that EUR is going only south.. why you are not shorting 10-20 lots here ?? c'mon mate.. be a man.. ALL IN>>

cheers!
Question is good, answer may be replying soon...
TRADE WHAT U SEE NOT WHAT U WANT TO SEE.
  • #663,690
  • Jul 1, 2012 10:34pm Jul 1, 2012 10:34pm
Quoting Piters
this is a trading thread.. ppl trading long and short position.. [depends of trading style]

But I have a question for you :

If you are THAT sure that EUR is going only south.. why you are not shorting 10-20 lots here ??

cheers!
The short answer is that I recognize the marketplace is dominated by idiots.

Also I'm short a lot more than 10-20, I fade my shorts & Longs, so that just isn't my strategy to be all in at one lvl. I use long aussie and short usd/cad as hedges and adjust accordingly.

just covered some here, bonds selling off...looking for a little run up ahead of european monday. Cheers.
  • #663,691
  • Jul 1, 2012 10:35pm Jul 1, 2012 10:35pm
Quoting laffin2bank
The short answer is that I recognize the marketplace is dominated by idiots.

Also I'm short a lot more than 10-20, I fade my shorts & Longs, so that just isn't my strategy to be all in at one lvl. I use long aussie and short usd/cad as hedges and adjust accordingly.

just covered some here, bonds selling off...looking for a little run up ahead of european monday. Cheers.
The biggest idiot of all is Van Rompuy himself, and Monti is a close 2nd.
  • #663,692
  • Jul 1, 2012 10:37pm Jul 1, 2012 10:37pm
Quoting laffin2bank
The short answer is that I recognize the marketplace is dominated by idiots.

Also I'm short a lot more than 10-20, I fade my shorts & Longs, so that just isn't my strategy to be all in at one lvl. I use long aussie and short usd/cad as hedges and adjust accordingly.

just covered some here, bonds selling off...looking for a little run up ahead of european monday. Cheers.
GL with your trades mate.. in my life I havent seen anyone who is THAT sure where market is heading.. that is the main reason for my reply..

btw.. Im long from 2440
  • #663,693
  • Jul 1, 2012 10:45pm Jul 1, 2012 10:45pm
Quoting WallStreetB
Yes my friend but the US has a Central Government and a trillion dollar GDP.
And a Federal Reserve that has no Federal in it whatsoever.
Time turns trend. - W.D. Gann
  • #663,694
  • Jul 1, 2012 11:05pm Jul 1, 2012 11:05pm
Quoting Piters
GL with your trades mate.. in my life I havent seen anyone who is THAT sure where market is heading.. that is the main reason for my reply..

btw.. Im long from 2440
Think about it... why are American bonds yielding 0%? (1.5 on 10yr..)?? We can never go broke, ever. Only a pseudo-broke via hyperinflation.

Ok sry if I offended you but please read this though, I genuinely believe it will change your thinking. Btw I won't be surprised if it goes to 1.29 or so, esp if we break 27, and Id love to see that first too bc I will TP on aussie and add a lot to euro.

http://neweconomicperspectives.org/2...primer-on.html

here is the key problem:

1. USA: When the USA spends $USD, by definition, the transaction adds wealth to the private sector. That money does NOT, as many believe, come from bond auctions OR taxes. We ISSUE it, i.e. create it out of thin air and the debt is denominated in USD, which the US gov can solely create. The only possibility that we go broke is if congress does not sign on to more printing, which would cost the country a generation, and thus won't ever happen.

I'll say that again. The issuers of $USD owe 15 trillion dollars of $USD. The only people who are fucked are those who own our debt! You'll be receiving our dollars alright, paid in full!!

2. EU: Germany's profits ARE southern countries losses. Germany is only fine bc it has had 6% growth for over a decade! Do you really expect every country in Europe to achieve 6% growth y/y for eternity, under austerity? Given the zero sum nature of the game, it's not going to happen. So betting on this monetary union in any capacity is a giant mistake.

The only way the EU survives is by becoming the United States of Europe, mimicking our monetary system and printing as fast as they can.

Even then, Europeans will still be governed by non-elected bureaucrats in an anti-Democratic pseudo-state, stripping you all of your national sense of pride. You will ultimately grow a pair and revolt to get your nations freedom back.

"No Taxation Without Representation" -- Don't forget what happens next...

http://neweconomicperspectives.org/2...primer-on.html

I know. It sounds ludicrous. But we live in a ludicrous world. Please read...
  • #663,695
  • Jul 1, 2012 11:14pm Jul 1, 2012 11:14pm
How are we looking today,home from work.
Flip open the laptop,man its dropped.
What the hell is happening,I am carrying a small short
an 2 longs which would have been taken out.
Might be building up for a push up

But these bankers are really trying hard to screw us little guys over.

They are really pulling all the tricks to suck our accounts dry.

Has it always been this hard to pick the waves
  • #663,696
  • Jul 1, 2012 11:19pm Jul 1, 2012 11:19pm
Quoting laffin2bank
Think about it... why are American bonds yielding 0%? (1.5 on 10yr..)?? We can never go broke, ever. Only a pseudo-broke via hyperinflation.

Ok sry if I offended you but please read this though, I genuinely believe it will change your thinking. Btw I won't be surprised if it goes to 1.29 or so, esp if we break 27, and Id love to see that first too bc I will TP on aussie and add a lot to euro.

http://neweconomicperspectives.org/2...primer-on.html

here is the key problem:

1. USA: When the USA spends...
I will .. I promise, [not now.. later.. maybe NY lunch..just keep that record]

that is all good and fine.. but I am a trader, not an Investor.. I speculate, I make a profit or lose some.. that is what I do.. and YES, my trades and positions are based on some TA and Price Action.. What Iam looking is the Price action and I wait on next move, Up or DOWN..

I traded GOLD short, now I am LONG, Euro Short, but now Long..

I can change my positions in a heartbeat..and as long the market is alive ,,, Iam happy..

All news and "other PPL analysis" I am taking with salt, and lemon.. as If they are good as they are saying they are.. they should trade and make some money.. I believe more to some fellow trader then to any academic writer/researcher..


just my 2 pips..
  • #663,697
  • Jul 1, 2012 11:20pm Jul 1, 2012 11:20pm
Its been relatively steady. Maybe some accumulation. Looking at the market futures, gold and crude which are all down, but have come in a little.

I am sure a direction will be chosen in a matter of time.
  • #663,698
  • Jul 1, 2012 11:24pm Jul 1, 2012 11:24pm
Quoting Piters
I will .. I promise, [not now.. later.. maybe NY lunch..just keep that record]

that is all good and fine.. but I am a trader, not an Investor.. I speculate, I make a profit or lose some.. that is what I do.. and YES, my trades and positions are based on some TA and Price Action.. What Iam looking is the Price action and I wait on next move, Up or DOWN..

I traded GOLD short, now I am LONG, Euro Short, but now Long..

I can change my positions in a heartbeat..and as long the market is alive ,,, Iam happy..

All news and "other...
I'd consider myself a trader too.. but my degree is in economics--specifically monetary theory--so I'm biased.

P.S. yes, the overwhelming majority of academic economists believe the EUR will fail.
  • #663,699
  • Jul 1, 2012 11:43pm Jul 1, 2012 11:43pm
I consider the long from Friday a big "push to sell". Price went exactly to a major Resistance (1.2695) and came down from it.
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  • #663,700
  • Jul 1, 2012 11:51pm Jul 1, 2012 11:51pm
Quoting quantq3
I consider the long from Friday a big "push to sell". Price went exactly to a major Resistance (1.2695) and came down from it.
yup agreed. is not often get such a nice wee trade. 2619 is a fence needs break, before next push down,
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