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EUR/CHF

  • #12,801
  • Nov 12, 2014 9:14am Nov 12, 2014 9:14am
Quoting mamalujo
{quote} well its just about 10pips drawdown at 1.2017, i guess u expected zero drawdown on your entry. u should always leave room for your trades to breath. lets see how it goes though, its trying to climb though, i suggest u reduce your position once you're breakeven
let the market to up i will close complete lots. i am getting so much headache.i will never again so much leverage .this is all because of over confidence
Trading by EA
  • #12,802
  • Nov 12, 2014 9:22am Nov 12, 2014 9:22am
Quoting mmudasir
{quote} let the market to up i will close complete lots. i am getting so much headache.i will never again so much leverage .this is all because of over confidence
well, i guess you've had a long winning streak, overconfidence is usually the outcome.
  • #12,803
  • Nov 12, 2014 9:30am Nov 12, 2014 9:30am
Swiss drama "gold initiative referendum" coming to provide some volatility to this dead pair. I wish SNB will take advantage of it if "No" passed.
You cannot learn better without losing
  • #12,804
  • Nov 12, 2014 9:53am Nov 12, 2014 9:53am
1.2020 has collapsed
  • #12,805
  • Nov 12, 2014 10:41am Nov 12, 2014 10:41am
Quoting mamalujo
{quote} well, i guess you've had a long winning streak, overconfidence is usually the outcome.
what do you think gold initiative would pass or Fail
Trading by EA
  • #12,806
  • Nov 12, 2014 10:55am Nov 12, 2014 10:55am
Going to be off from technicals for a while. SNB says they never intervened to protect the ceiling, but traders took the threat on cap serious. This mean, 1.2 will never be broken? I think so. Entering a few trades now with SL 20 and TP 50. Let's see how it goes. No regret if I lose this :-) A calculated gambling!
  • #12,807
  • Nov 12, 2014 11:23am Nov 12, 2014 11:23am
Quoting PipMaxzz
Going to be off from technicals for a while. SNB says they never intervened to protect the ceiling, but traders took the threat on cap serious. This mean, 1.2 will never be broken? I think so. Entering a few trades now with SL 20 and TP 50. Let's see how it goes. No regret if I lose this :-) A calculated gambling!
No gambling. But be ready to settle for 15, 10 or even 5 pips scalp profits before it happens. Someone is effectively trying to trigger intervention and reversal. Which is just a great strategy if you ask me.
  • #12,808
  • Nov 12, 2014 11:34am Nov 12, 2014 11:34am
Quoting Paz
{quote} No gambling. But be ready to settle for 15, 10 or even 5 pips scalp profits before it happens. Someone is effectively trying to trigger intervention and reversal. Which is just a great strategy if you ask me.
Agree, will be moving SL to BE and then log off from screen. Not sure if someone is dare to sell at this point. May be you are right, trying to get intervention. In that case, it may get worst.
  • #12,809
  • Nov 12, 2014 11:45am Nov 12, 2014 11:45am
Quoting Paz
{quote} No gambling. But be ready to settle for 15, 10 or even 5 pips scalp profits before it happens. Someone is effectively trying to trigger intervention and reversal. Which is just a great strategy if you ask me.
I agree but I think they are keeping the negative rates bullet till they know whether the referendum will passe or not. If it passes then they might trigger it. I also think that If the gold referendum had any chances of passing the gold prices wouldn't be doing multi years low. This situation reminds me of the usd/cad in 2007. They were selling like there is no tomorrow and then it snapped back up and made a reversal for no reason. Same will happen here but it with a bit of additional justifications.
  • #12,810
  • Nov 12, 2014 11:49am Nov 12, 2014 11:49am
Quoting insider-
{quote} I agree but I think they are keeping the negative rates bullet till they know whether the referendum will passe or not. If it passes then they might trigger it. I also think that If the gold referendum had any chances of passing the gold prices wouldn't be doing multi years low. This situation reminds me of the usd/cad in 2007. They were selling like there is no tomorrow and then it snapped back up and made a reversal for no reason. Same will happen here but it with a bit of additional justifications.

Could you please give me some more details or links of what's happening in Canada? thanks
  • #12,811
  • Nov 12, 2014 11:53am Nov 12, 2014 11:53am
No offense dudes, couldn't hold myself from reading some EC Bulls worried of 1, 5, 20. 50... lots

Am risking an 8 digit account and my heart is like rock, have put my money where my mouth is

Despite have positions upward.....am no longer interested in few pips exit on current level if market give us it firstly

The same nonsense from 1.23 to 1.22 o 1.21 to 1.2030 even!! of no followup!!

Was busy early today trading other pairs when market filled my EC account 1.2030 pending, was betting on a bounce to continue as said yesterday to 1.2040s after 1.2030s but seems bears went much stupid in greed for 20 pipsinstead of leaving the pair breath to 1.2050 then take it down and so on.
Give us to give you stupid bearsLet it move in some wide range for God Sake.
Current movement does not help us, we want some spike to close our lower levels positions in big profits and offload the upper ones to use it lower again

Despite all this, maybe it will be in our favor for SNB waking up some soon day and intervening, stopping this nonsense!

Bears can never challenge SNB, so be smart and leave it go to 1.21 quickly and sell again there, take it to 1.2050 and 1.2020 again and so on, you win we win all happy
Trade according to current market condition, not what you think would be.
  • #12,812
  • Nov 12, 2014 11:55am Nov 12, 2014 11:55am
Quoting OberonZhao
{quote} Could you please give me some more details or links of what's happening in Canada? thanks
If you mean the recent slide in the Canadian dollar it's because of the slump in oil prices. Canada relies a lot on oil exports
  • #12,813
  • Nov 12, 2014 11:56am Nov 12, 2014 11:56am
Quoting SwissGerman
As a personal note living in Zurich (for 20 years now): the media and politicians are fighting harder than ever to educate the electorate on the negative effects of the gold initiative. It will have a solid yes from the rather right-wing, rural and economically not so well-off (what is very relative in Switzerland), but in my option that will not be enough, because now the majority is mobilized and will be even more in the next week. And even in the unlikely case that the initiative will win, I doubt very much it will make it through all other steps...
At last a Swiss Citizen comes here to approve my previous post about strong currency vs cost of living for locals then foreigners too..........when an ignorant(disappeared from here) wanted to care more about the currency than its ppl.
Trade according to current market condition, not what you think would be.
  • #12,814
  • Nov 12, 2014 11:59am Nov 12, 2014 11:59am
Quoting mamalujo
i dare eurchf to drop to 1.2010 and pick up my 25lots buylimit order at 1.2015, sl 1.1985(30pips), tp 1.2200(185pips) downside: 1- ec may crawl btw 1.2000 and 1.2015 for months just like it did for most part of 2012, daily negative swaps will accumulate to a whole lot 2- if and when the firework starts, ec might breach 1.2000 floor and due to spikes market will not execute my sl at 1.1985 3- in which ever case between 1 and 2, i may lose more than $7500
Sure that amount might be very important for you but be sure many others are risking real long digits...so your loss is pennies in comparison, we'll die in heart attack before you, rest assured

An advice, do not set stop loss or take profit, it's loose it all or win it all
Trade according to current market condition, not what you think would be.
  • #12,815
  • Nov 12, 2014 12:03pm Nov 12, 2014 12:03pm
Reuters-The talk in the market is that SNB may be using the swaps and options markets to reduce the downside potential of prices and to tamp down volatility in general
  • #12,816
  • Nov 12, 2014 12:06pm Nov 12, 2014 12:06pm
Quoting insider-
{quote} If you mean the recent slide in the Canadian dollar it's because of the slump in oil prices. Canada relies a lot on oil exports
I mean the story of 2007, I was only an undergraduate student then.
  • #12,817
  • Nov 12, 2014 12:07pm Nov 12, 2014 12:07pm
Quoting mamalujo
{quote} well its all about money management and what you can afford to lose on this trade. for a 20 lot trade, i believe you have more than $20k account balance(100pips drawdown) OR your account is funded such that you would still have some money left should price hit your sl , wherever that is OR you dont mind risking your entire account on this one historic trade.
Why are you afraid dude, no reason for that panic, leave your positions until it runs in comfortable profit, exit if PA shows EC staying longer on current level.

If your account size is $20k and you opened a 20 lot position at 1.2027 then your drawdown at the floor is less than $6K, you can still open more lots but be aware of your broker stop out level(0% the better) and leverage (1:500 the better).

Ok, it is better to not squeeze your margin to the exact floor 1.20 level if you want but you're in a relaxed position, you entered this game be brave and hold on.......not everyday EC will have a floor and price will be that close, hold on and see later
Trade according to current market condition, not what you think would be.
  • #12,818
  • Nov 12, 2014 12:18pm Nov 12, 2014 12:18pm
Quoting OberonZhao
{quote} I mean the story of 2007, I was only an undergraduate student then.
recession was looming, Feds were cutting rates and oil was going up, a perfect short for USD/CAD but there was over selling no support held at the time and as usual they took it down too fast and too far and then it recovered fast without any news or anything from Canada. Just another example that the big boys take the market wherever they want and a recovery will happen without a single justification. Same happening with the EC. Last time it reached 1.2139 there wasn't any justification either, it even returned to that level after the SNB refrained from cutting rates. But as Paz said someone is trying to trigger an intervention here
  • #12,819
  • Nov 12, 2014 12:24pm Nov 12, 2014 12:24pm
Quoting insider-
{quote} recession was looming, Feds were cutting rates and oil was going up, a perfect short for USD/CAD but there was over selling no support held at the time and as usual they took it down too fast and too far and then it recovered fast without any news or anything from Canada. Just another example that the big boys take the market wherever they want and a recovery will happen without a single justification. Same happening with the EC. Last time it reached 1.2139 there wasn't any justification either, it even returned to that level after the SNB...
If there is an intervention are they going to buy Euros or USD or both?
Enter Signature
  • #12,820
  • Nov 12, 2014 12:31pm Nov 12, 2014 12:31pm
Quoting insider-
{quote} recession was looming, Feds were cutting rates and oil was going up, a perfect short for USD/CAD but there was over selling no support held at the time and as usual they took it down too fast and too far and then it recovered fast without any news or anything from Canada. Just another example that the big boys take the market wherever they want and a recovery will happen without a single justification. Same happening with the EC. Last time it reached 1.2139 there wasn't any justification either, it even returned to that level after the SNB...
Thank you very much!

IF the intervention is triggered, can't imagine what will happen when I woke up. Maybe SNB will do nothing before the vote.
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