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sonny winter's journal

  • #1
  • First Post: Jul 5, 2006 9:29am Jul 5, 2006 9:29am
short eurusd @ 1.2715.stop 1.28.tp 1.265
  • #2
  • Jul 5, 2006 9:37am Jul 5, 2006 9:37am
me too. I think it's time for eur/usd to go down.
  • #3
  • Jul 5, 2006 9:37am Jul 5, 2006 9:37am
and there she goes...protect your profit...
  • #4
  • Jul 5, 2006 9:41am Jul 5, 2006 9:41am
Wasn't that rather late to short it?
Always wait for the opportune moment… just be careful not to miss it.
  • #5
  • Jul 5, 2006 9:44am Jul 5, 2006 9:44am
dear mr fxvision...

forex is 24 hours a day...never too late

i wish you good hunting...
  • #6
  • Jul 5, 2006 9:46am Jul 5, 2006 9:46am
Ideal entry....9 hours ago......hind sight 20/20.
Same Whore .... Different Dress
  • #7
  • Jul 5, 2006 11:46am Jul 5, 2006 11:46am
Nice.
  • #8
  • Jul 5, 2006 12:08pm Jul 5, 2006 12:08pm
change stop to 1.2786
  • #9
  • Jul 5, 2006 12:11pm Jul 5, 2006 12:11pm
sell limit order .....eurusd @ 1.2750. stop 1.2785.....tp 1.265
  • #10
  • Jul 5, 2006 1:19pm Jul 5, 2006 1:19pm
http://img310.imageshack.us/img310/3...506a6av.th.gif

In theory, it should go down to the Ultimate Support line which is 1.2695.
  • #11
  • Jul 5, 2006 10:57pm Jul 5, 2006 10:57pm
cancel sell limit trade
  • #12
  • Jul 5, 2006 11:14pm Jul 5, 2006 11:14pm
shrt [email protected] tp1.265
  • #13
  • Jul 5, 2006 11:17pm Jul 5, 2006 11:17pm
The only suggestion that I would make, is that if it rises to 1.2745 or 1.2750, you add to your position.

May you live long and prosper!
  • #14
  • Jul 6, 2006 5:10am Jul 6, 2006 5:10am
Quoting sonnywinters
short eurusd @ 1.2715.stop 1.28.tp 1.265
How could u possibly have that wide stoploss. Mind me 85 pips stoploss is insane. EUR/USD is propably going down but hey....Anything can happen. I'm also short but i have 30 pips stoploss only.
Good Luck

MAFIOSO
  • #15
  • Jul 6, 2006 9:07am Jul 6, 2006 9:07am
It depends on time frame he trades on. The longer the timeframe (daily/weekly/monthly) the larger stop will be. Not to comment on this particular trade..

Quoting MAFIOSO
How could u possibly have that wide stoploss. Mind me 85 pips stoploss is insane. EUR/USD is propably going down but hey....Anything can happen. I'm also short but i have 30 pips stoploss only.
Good Luck

MAFIOSO
  • #16
  • Jul 6, 2006 10:28am Jul 6, 2006 10:28am
eurusd peaked at 1.2785
  • #17
  • Jul 6, 2006 11:09am Jul 6, 2006 11:09am
SW,

What was the basis for picking your original entry price of 1.2715? What is your time horizon? Was there some sort of fundamental data you were looking for that would have propelled the rate lower after a 100+ pip drop from the previous fundamental release?

It looks like the adjusted stop limit of 1.2786 was reached (the b/a reached a peak of 1.2783/1.2786 which would have triggered the stop loss).

I'm very curious because you picked a short really damn near close to the bottom and wouldn't you know it, your adjusted stop was the peak.
  • #18
  • Jul 6, 2006 11:47am Jul 6, 2006 11:47am
I think it is a good idea to be short EURUSD regardless of any short term rallies up to the 1.28 area. It may be a good idea to add to any shorts on rallies up to 1.28 but I'll turn bullish on a close above 1.2855. I'm short at 1.2720 and placed a stop way up at 1.2860. Tight stops are a killer but after this morning's rally it might be safer to drop stops down to just above 1.28. But for now I'll keep my stop well above the current level to give the trade a little breathing room from short term rallies.

Jokey
  • #19
  • Jul 6, 2006 11:57am Jul 6, 2006 11:57am
Quoting Jokey
I think it is a good idea to be short EURUSD regardless of any short term rallies up to the 1.28 area. It may be a good idea to add to any shorts on rallies up to 1.28 but I'll turn bullish on a close above 1.2855. I'm short at 1.2720 and placed a stop way up at 1.2860. Tight stops are a killer but after this morning's rally it might be safer to drop stops down to just above 1.28. But for now I'll keep my stop well above the current level to give the trade a little breathing room from short term rallies.

Jokey
Jokey,

I'm neutral on the EUR/USD at this point. With NFP, I think it could go either way. I have not gotten a general mood for the USD other than it's more wait-and-see...which is what I, personally, intend to do.

However, with such a sharp drop to decent support, I'm not sure I would have taken the same course, but that's only because I didn't see the mood as pro-dollar just yet. With NFP such a big thing, it'll be hard pressed to move much in either direction. My thought was that if you were going to be short, you would have gotten in on the first minor retrace after the inital slide, it lasted long enough and didn't hit major support.

If your time horizon is lengthy, though...I suppose that might justify your decision.
  • #20
  • Edited 12:29pm Jul 6, 2006 12:24pm | Edited 12:29pm
sonnywinters you may edit your thread title to 'my journal' or something, if you intend this to be you longer tenure journal of trades in here; than just a single trade you made.


I remember itme started with similar title as yours with one CAD position he predicted first.


My stops in Euro were placed at 127.75 area, but I quickly removed them just before it was going to get trigerred.
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