EUR/USD Before Greeks's Vote - Do You Stay In The Market? B/S

i had an account with ($250) exness (1:2000) and one account with($250) xm(1:888) but sadly they reduced leverage 1hr before the market closes . i just bought euro in exness at 1.1090 ...and sold @1.1060 in xm ..2 mins before market closes based on 5 min time frame and ..put TP for 200 pips for both positions and both accounts have negative protection balance .. lets hope i would get some prfoits lol ...

http://www.bloomberg.com/news/articl...nds-kiwi-falls

Its a no. EU will go down unless there are positive news for the currency.

congrats for your trades. Happy pips to you all

Classic buy the rumor sell the fact scenario.

So did you make any profit?

To answer the original question (with further questions): Why would you stay in the market?

Are you a trader or a gambler?

The market will go in the direction that causes the greatest number of losing positions .

Eur/Usd, my opinion is to go short to 1.09910 short term as i write. It could go lower as it has broken support. Down to 1.09800. But some stupid news can make it change direction. But in more longer term i would rather short the market. Whether greece mkes a plan or not, the currency will go lower. Thats my opinion

I have used an account that allows hedging, and lost EUR 17,000 in six months on the 24 per cent drop of the Euro, though the position was evenly hedged. Unfortunately, i was buying initially and hedged as the Euro continued to fall, from 1.37 to 1.25. At that point i was stopped out, although i was evenly hedged. There is no real protection if you hedge because if, for example, you have a single trade in the lots which is larger (say, 6 lots) than all the rest, as soon as that individual trade reaches a point where its loss reaches 20% of your Equity, the broker liquidates that trade. This of course liquidates the entire account. I have been trying to recover since, with only a small modicum of success, and try to avoid hedging. The market makers know that traders will panic and they do everything they can to take advantage of that and liquidate your account. Recently i deposited 200 Euros (same broker) and managed, through very careful trading, to move it to 890 Euros (about 690 Euros profit). This took about a month or a bit less. Unfortunately, with the profits (after i retrieved some), i bought GBPUSD and there was no significant news during the next week. However, the pair immediately began to sink and by Thursday (i bought on Monday) it had fallen 400 pips. Sadly, i resorted to hedging to 'protect' the account, knowing full well that retail accounts are monitored and flagged especially if in profit, and manually traded out by the market maker, when they become profitable. After another week, magically the GBPUSD has recovered (this is in the past two weeks you can have a look if you like) back to its original price and a bit more, for no reason except 1 inflation news announcement. Carney said something at a meeting which was supposedly what moved the pair up more than 100 pips in fifteen minutes; but this was wrongly reported in the media (including many forex websites) as what caused the 'spike' when, in fact, it was the 'inflation' news reported over an hour before Carney opened his mouth. So in summary, hedging is stupid and useless, because the market makers target retail traders (in fact the entire retail forex industry is based on raping and destroying retail traders, most especially those who have traded less than a few years); i see no real benefit to it because when you hedge you pay commission on both sides of the hedge, plus the spread. If holding a large position (say 50 lots), your cost can easily be 20 Euros a day; any profit has to come out of that. Also, you (the original poster) leave out entirely (due to your lack of experience and understanding of how the market works) the fact that, whether you realise or accept it or not, brokers are entirely unscrupulous and will twist price feeds so that hedging one pair in FACT is not an equal hedge; they automatically program in their software (such as in MT4) a bias to one side of the pair that is in their favor, as long as you hold the trade. In the millisecond following your closure of the trade, they apply that bias and -- lo and behold -- you find you have a much BIGGER loss than just the spread. Don't hedge. It doesn't work.

As you can all see the EUR/USD has crashed through yesterday support. Now we head down to 1.9132

1 Hour support broken, now we must target 4 hour support level which is 1.09156.

Current level : 1.09573 -Minus-- Target: 1.09156 =417 pips

Do not aim for 417 pips, don't be greedy rather aim for 350 pips

You can now short the eud/usd

Thanks
Marskaydir

Damn now the eurusd is 1.09381. As expected a vicious downward move. And i win again

eur/usa will drop to 1.08055. let see

The only way up is for the eur/usd to close above 1.1000. I do not see this happening today. Selling is the only way today. Todays new target 1.0915

Oh no the 1.09000 broken. I have taken a small position just to be safe. fallen star haha. Wheres the bottom?

Now just for the 1.0900 to be broken convincingly and things get ugly. Wonder what news is going to come from Drahghi...

As you can see from the Graph attached 1.0900 level is key. As i have mentioned in the previous post if its broken convincingly then the eur/usd falls and things get ugly. If it holds here then this is going to be support. Lets see the progress today before i make a proper trade. I only have 1 small sell position with a SL at 1.09196. This position is to test whether it will be support or it will be broken.

If support broken i will take the following position

sell eru/usd @ 1.08950

Please note, this is my opinion. Nothing is guaranteed!!!

Target of 1.08960 reached and position closed by TP. The RSI has dipped a little below 30 and now sits at 27. Although it is going into the oversold position bear in mind that it has broken the 1.09 support level and this is very bearish. But before i go any further i am looking for a convincing close below 1.09 preferably 1.08850 level. This should be the ugly spiral down to the next support 1.08151 as this is the support on the daily time frame. The 4 hour time frame support is already broken.

Although this is how it should work. Silly news can change things.

I am going to be brave and take the risk. I will be trading a few 0.5 lots. SL will be set to 1.09100 only after failure to close above 1.09100 or a solid sell candle signal

Thanks and happy trading.

wow 1.08680 level reached closed by TP again

see 5 min chart of gap down shown by red arrow