Forex Day Trader's Thread

[Pippy5000]

This Euro strength is really pissing me off..

 

[Pippy5000]

I'm short 1.428

 

[N Rothschild]

the queen can disolve parliment, but only if the current PM asks her to. she is powerless.

 

[vinicius]

Short again 1.4288

 

[wh92stang]

Closed my short at 1.4276. Markets just aren't falling at this point so I'm going to wait a bit.

 

[Pippy5000]

I'm holding mine.. I'm also long ninja because it's at major support and I saw the Japanese government intervene around here last time..

 

[wh92stang]

Why is the dollar so weak against the Yen? It's really not too far from the past winter lows again.

 

[vinicius]

Yen Climbs to Seven-Week High as Jobs Data Spur Safety Demand

By Ye Xie and Matt Townsend

Sept. 2 (Bloomberg) -- The yen advanced to a seven-week high against the euro and dollar as a report showing companies eliminated more jobs in August than economists forecast encouraged investors to take refuge.

Australia’s currency climbed versus most of its major counterparts as the nation’s economic growth unexpectedly accelerated in the second quarter, boosting speculation that the central bank will increase interest rates this year. The yen rose versus the South Korean won and Norwegian krone on reduced demand for higher-yielding assets.

“We are in a phase of risk aversion,” said Sebastien Galy, a currency strategist at BNP Paribas Securities SA in New York. “Those bullish guys are reducing their positions. Data is improving, but not as much as people would like.”

The yen appreciated 0.4 percent to 131.62 per euro at 2:20 p.m. in New York, from 132.19 yesterday, after earlier reaching 131.04, the strongest level since July 15. Japan’s currency climbed 0.8 percent to 92.21 per dollar, from 92.92, after reaching 92.13, the strongest level since July 13.

The dollar slid 0.3 percent to $1.4278 versus the euro after U.S. stocks erased earlier losses, paring the safety demand for the world’s main reserve currency.

The greenback’s decline accelerated after breaching $1.4275 per euro, where traders placed preset orders to sell the dollar, according to Brian Dolan, chief currency strategist at FOREX.com, a unit of the online currency trading firm Gain Capital in Bedminster, New Jersey.

Yen Climbs to Seven-Week High as Jobs Data Spur Safety Demand - Bloomberg.com

 

[vinicius]

There is a lot of hope that the DPJ will improve the economy.

Looks like that Yukio Hatoyama is a kind of Obama over there..

 

[Pippy5000]

Once the option was taken out the USD suffered.. I take it the volume must have been pretty high because the USD SUCKED today.. I'm still short Euro up 20 and not feeling wonderful about it..

-45 banked today.. this is feeling like a fakeout rather than the beginning of new USD strength..

 

[Pippy5000]

I wish I could install one of those machines that people with drunk driving arrests have to use that tests your breath for alcohol before they start their car.. only I would have it lock down my trading account if I blew over ... mmmmm... let's say a 2.0. A little alcohol is good because you'll be ballsy, but too much and you'll makes trades so bad they are capable of exploding your computer and killing everyone in your house..

 

[N Rothschild]

ive traded drunk a few times..so drunk that i couldnt even focus on the charts..wasnt a great idea in the end

 

[vinicius]

I`ve never worked drunk.. However, once I ate some magic mushrooms from Camden. In the begining I was making analises for long term trades trying to read news and make a conclusion.. But was too slow and I started to look 1hr charts, 30min, 15min, 10min at the end I was scalping 1min chart at 3 oclock in the morning without any move in the market..

Change all colors from my charts, all configurations and lost a couple of nice set-ups because I deleted some of my alerts..

Next morning was everything a mess..

 

[Pippy5000]

dude.. that's much worse..

I generally just setup tons of orders that are slightly screwed up.. like going long 5 pips before the resistance and other oblivious moves like that.. last night I shorted Euros after it retraced like 20 pips.. dumb..

 

[cpngtw]

That's called TUI, Trading Under Influence, my friends Should be arrested!

 

[Pippy5000]

I consider it to be a community service to the people taking counter-party positions against me..

 

[Pippy5000]

But with mushrooms you could hear God's voice telling you to put $1,000,000 on some obscure pair.. You'd wake up in the morning riding -$30,000 on an ill-conceived Chilean Pesos to USD deal.

 

[vinicius]

But with mushrooms you could hear God's voice telling you to put $1,000,000 on some obscure pair.. You'd wake up in the morning riding -$30,000 on an ill-conceived Chilean Pesos to USD deal.

lol..That was a bloody strong trip..

Anyway..

Are you still long UJ?

 

[Pippy5000]

yeah.. I'm long UJ with wide parameters.. I'm trying to take it back up to the lowest daily SMA. It will probably take several days at least. I think it will test 92 though, but I'm not worried about it. I'm out below the previous daily lows.. I'm hoping the government steps in again because it shot up about 500 pips in a few days last time they did.. Their fin min will say "we don't like the strong yen" and ninja will jump up.. if it gets too low they will spend some money and snatch the money of the traders who didn't get the verbal message

 

[Pippy5000]

selling cable 1.636 and again at 1.644 .. throwing in the long USD towel above there..

throwing in the towel on Euro above 1.43

out of ninja at 91.4