Forex Day Trader's Thread

[tripleogstar]

USD/CAD failed to stay above resistance at 1.2650. Could be a short term correction, but I do think it could rally to 1.30 next week

 

[Pippy5000]

Loonie is really choppy .. it's always best to buy dips.. but you're right about the direction.. UP.. I'll try a decent sized short at 1.30 although I'm positive the banks will do a stop run so I'll sell the false breakout..

 

[RidderTrade]

Why aren't you in Forex Ridd.. Cotton will be there tomorrow.. Can't miss what we've been waiting for.

because i want have 1 large position..and keep it.. as long as possible

doesn;t matter pip it will trend the same.. or maybe even decline as forex moves up

 

[Pippy5000]

It's odd to see Cable in the 1.30s.. I keep thinking I'm looking at the Euro chart!!

 

[Pippy5000]

Cable testing 1.39 again!! Stalling.. stay with it Pippy.. STAY WITH IT!!

yes Ridd, buy and hold is where the real money is in this business.. I don't have any buy and hold trades yet this year but they are approaching quickly..

 

[RidderTrade]

cable will fall dramatically..
actually it already did..

 

[Pippy5000]

Bah stopped out +97 pips ..

 

[Pippy5000]

I'll sell the next big rally .. I've had more than I ever needed from Cable today.. not going to push it..

 

[RidderTrade]

Cable testing 1.39 again!! Stalling.. stay with it Pippy.. STAY WITH IT!!

yes Ridd, buy and hold is where the real money is in this business.. I don't have any buy and hold trades yet this year but they are approaching quickly..

yes thats why i am testing holding 1 position large... instead of building up your screen with 10 /15

you only need few good trades in a year..

 

[RidderTrade]

admiddetly i could hardly resist.. not sell euro at 1.3380.. but this is my plan for now, and i stick to this

 

[Pippy5000]

or maybe i WILL .. sell entry order at 1.388 .. needs to break 1.39 to get me back in again..

 

[tripleogstar]

I see a target of 1.36 for GBP/USD

 

[Pippy5000]

yes.. 1.363

 

[RidderTrade]

dow is playing with 8000 now..

 

[RidderTrade]

usa indices if they fall to new lows.. this will propell usd to sky heaven high

 

[Pippy5000]

we are on the edge of a HUGE cliff.. I started a new Cable short trade with my stop at 0 .. if it breaks it will be worth $$$$$$$$$$ .. if not, no problem..

 

[Pippy5000]

final hour of NY trading and the trend into the final hour continues to be down.. dollar index will break ..

 

[RidderTrade]

yeah most of the people thought ..usa indices would rocket on obama inauguration..
but exactly the opposite is happening..this is why you should not be influenced by any news..
at any moment, at any time.. only not trade in holidays, and you will be fine

thanks , Ridderrrrr

 

[RidderTrade]

3:13 [WFC] Wells Fargo shares fall 23%, trade at $14.29
3:12 [PNC] PNC shares fall 42%, trade at $21.86
3:13 [BAC] Bank of America shares fall 24%, trade at $5.50
3:11 [C] Citigroup shares fall 17%, trade under $3, at $2.91
3:12 [STT] State Street shares fall 56%, trade at $15.98

 

[RidderTrade]

what a slaughter.. and the market has right..