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  • #745,041
  • Jan 11, 2013 8:30am Jan 11, 2013 8:30am
short sell? what you think?
  • #745,042
  • Jan 11, 2013 8:32am Jan 11, 2013 8:32am
Quoting fikaky
OK, perhaps I am biased towards the EUR because I live in the EU and the changes here within the last three years or so are horrifying...i never seen people go through trash some 5-6 years ago...today it is a daily occurance..soon they'll begin to fight over it..suicide rates are up, crime rates are up..seems bad bad bad to me...


fikaky your completely right on your statement. dont listen to some people on here. this move is not a fundamentally driven move. most people on here have no clue to what their talking about fundamentals. stick to price action and technicals less headaches and stress.

word of advice buy precious metals with your savings. spread out your buying though bouts of deflation will come again and give us all a good opportunities the euro will be gone within 10 years. countries will not honor any euro denominated debt (which they shouldn't).
  • #745,043
  • Jan 11, 2013 8:33am Jan 11, 2013 8:33am
Quoting MaxDoom
no worries on asking....

Firstly, I posted a little earlier that I was looking at a retrace to 3306

http://www.forexfactory.com/showthre...44#post6358244

Next, we have a slowing rise (blue line on attached chart) then the engulfing bar highlighted which is where I entered.

note also how the rejection is from the same zone as the lows on the left of the chart

but as it is counter to my main bias and objective of 3490 I sit on it tight and killed at -6 such is the way with counter trades I don't want to make...
Thanks for the reply. is that a 1m chart?
  • #745,044
  • Jan 11, 2013 8:36am Jan 11, 2013 8:36am
Quoting Cuso
Small short from 1.33524. This thing is having problems between 3340-3360 at the moment.
SO/BETry again at 58
  • #745,045
  • Jan 11, 2013 8:36am Jan 11, 2013 8:36am
I don't think shorts are wise yet.
  • #745,046
  • Jan 11, 2013 8:38am Jan 11, 2013 8:38am
Quoting pips-scout
Thanks for the reply. is that a 1m chart?
the black background is 1 minute the white background is a tick chart
  • #745,047
  • Jan 11, 2013 8:39am Jan 11, 2013 8:39am
Quoting DaEdge
Smart money could careless about retailers the pot is way to small for them. They're looking to beat each other not us. Any profits from the retail side is just a few extra crumbs.

just saw this comment... you were on trading desk long time (any direct experience w/ccy's?); maybe you can answer Q:

at what position size would a retail trader become predator bait? (say during early NY session and the pair is .eu)

1000 lots?, 10000 lots?, 50000 lots?
  • #745,048
  • Jan 11, 2013 8:40am Jan 11, 2013 8:40am
I have losses for this week. Is it possible ? Yes, i missed some good breaks and slight divergences during morning EUR sessions was my killing factor.

I would have been largely in profit only trading during US session. This is perhaps the key for the new year coming.
Maybe on a higher timeframe it will be more clear. Maybe i'd better take a break.

Draghi sold hopes for markets (nothing good for this year, come back in 2014 ! and next year he will sell hopes for ... 2015 !). But we are facing now a very deep social crisis in Europe, Greece 26% unemployment, Spain 25% also... France is going that way too. And this is real life, no possibility to issue bonds or do some money trick to recover from that. This will continue all along 2013.

With great hopes can come great desillusions. We will see that in the second part of 2013.
  • #745,049
  • Jan 11, 2013 8:40am Jan 11, 2013 8:40am
Quoting pips-scout
Knock it off man this is not a cock waffling competition.
Did i say this is competition? Why are you over reacting?
When Scalpers win, I lose and Vice varsa...
  • #745,050
  • Jan 11, 2013 8:41am Jan 11, 2013 8:41am
Quoting MaxDoom
yes but it is rare for me to do it - I don't like to pay to go flat
Perhaps that explains why the goat in the avatar
  • #745,051
  • Jan 11, 2013 8:42am Jan 11, 2013 8:42am
Quoting Goldflake
Did i say this is competition? Why are you over reacting?
don't think I am. please don't take it as an offence or anything. but we are here to either learn or elaborate ideas.peace.
  • #745,052
  • Jan 11, 2013 8:43am Jan 11, 2013 8:43am
Quoting Ken A
Max, are you using broker that allows short and long for the same currency pair at the same time?
If you trade futures and are in the US most brokers will allow you to have 2 accounts so you can be long in 1 & short in the other. Margin wont cancel each other out 100% but they give you a blended margin rate between both accounts, it works out to be a very minimal amount of margin required between the 2 positions.
It works till it doesn't
  • #745,053
  • Jan 11, 2013 8:45am Jan 11, 2013 8:45am
Quoting MaxDoom
the black background is 1 minute the white background is a tick chart
to me it looks bullish still and compressing up. It looks to me that if 55 goes maybe new high today.
  • #745,054
  • Jan 11, 2013 8:46am Jan 11, 2013 8:46am
Quoting Ken A
Perhaps that explains why the goat in the avatar

lol

the goat was a whim at the time I put it up it represented my personality that week - GRUMPY
  • #745,055
  • Jan 11, 2013 8:46am Jan 11, 2013 8:46am
Quoting pips-scout
don't think I am. please don't take it as an offence or anything. but we are here to either learn or elaborate ideas.peace.
Exactly. We are here to learn and share. It was actually fun moment when traders repeatedly selling when the trend is too bullish. I agree nobody is perfect, but the probability that the market to fall was absolute zero at that moment.
When Scalpers win, I lose and Vice varsa...
  • #745,056
  • Jan 11, 2013 8:47am Jan 11, 2013 8:47am
Quoting DaEdge
If you trade futures and are in the US most brokers will allow you to have 2 accounts so you can be long in 1 & short in the other. Margin wont cancel each other out 100% but they give you a blended margin rate between both accounts, it works out to be a very minimal amount of margin required between the 2 positions.
I know. Two accounts are too much too handle because I have many positions from different pairs at the same time. Controlling the margins are quiet challenging let alone two accounts.
  • #745,057
  • Jan 11, 2013 8:48am Jan 11, 2013 8:48am
Quoting Goldflake
Exactly. We are here to learn and share. It was actually fun moment when traders repeatedly selling when the trend is too bullish. I agree nobody is perfect, but the probability that the market to fall was absolute zero at that moment.
we cool..as they say the fools mother is always pregnant.
  • #745,058
  • Jan 11, 2013 8:48am Jan 11, 2013 8:48am
Quoting 1candlepower
just saw this comment... you were on trading desk long time (any direct experience w/ccy's?); maybe you can answer Q:

at what position size would a retail trader become predator bait? (say during early NY session and the pair is .eu)

1000 lots?, 10000 lots?, 50000 lots?
never, platforms that are offered to retailers have caps on the maximum size that you can hold in one position. Look at the terms of use that your broker offers. After a certain size you'll have to move to an institutional account.
It works till it doesn't
  • #745,059
  • Jan 11, 2013 8:52am Jan 11, 2013 8:52am
Quoting MaxDoom
lol

the goat was a whim at the time I put it up it represented my personality that week - GRUMPY
you don't know what grumpy is.. I wrote the book.
  • #745,060
  • Jan 11, 2013 8:54am Jan 11, 2013 8:54am
http://www.bloomberg.com/video/tom-d...ShFYHL7Jw.html


SELL the world LOL not quite there yet though
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