Forex Day Trader's Thread

Happy with my EJ short this morning, but my cable short has still to make me money, maybe head and shoulders on the 1 day?
 
eeekk.. not looking good for the old Euro today.. I'm looking for a spot to get back in.. I'm hoping this is not it because I'm too squeamish.. got smacked -54

1.48 looks pretty good, but with a small stop. I'm not riding this ******* down into hell

Gold is hovering over the bottomless pit of doom as well..
 
well, the mods banned 3 of Alg's accounts and are deciding what to do with his main account. We might be losing our little pestering friend soon so say good-bye while you still have a chance!
 
maybe not old bean.. but a 30 pip stop at 1.48 is definitely worth a try.. Euro "acts" likes it's all over all the time and then rebounds.. I'd rather get burned trying a long then let it pop back up without me..

grrrrrr...
 
Pippy5000 said:
I still haven't heard what caused the selloff
Click to expand...

The selloff in EURUSD this morning from my favourite news source:
Liquidation of long EUR/GBP positions is the major flow at the moment as the market got caught with too many on the short GBP side of the ledger. A painful adjustment is underway, and EUR/USD is getting caught up in the wake.
Some are blaming BP’s dividend-related GBP buying for the squeeze in the pound today.

There are three rumours doing the rounds for the sell off in stocks:
1. Obama administration officials have been signaling that they will extend, if not expand the $8,000 tax credit for first time home buyers but traders say there are rumors making the rounds that the credit will not be renewed when it expires at the end of this month. That rumor, along with the dollar rebound, is said to be responsible for the sharp drop in US equities.
2. There are also rumors that one of the big US TARP banks is in need of fresh funding…;
3. Update: here is a fresh rumor. The Stock market selloff is rumored to be the liquidation of Galleon. The last few weeks anything that moves has been tied to Galleon….

EURUSD has to break 1.4840 for me to change my bullish view.
 
i think the sell off is more because people came 2 there senses about this rediculas farce of weak dollar and strong equities.
 
Reuters claims the reason for the selloff is the cancellation of the first time homebuyer tax credit.. I would think that mathematically EUR/GBP would be incapable of causing a big move in EU. There's just too much volume in Euro
 
instead of guessing about Euro I've got a buy stop 92.6 in UJ .. if the dollar continues to strengthen that ought to be easy money.
 
think i just reached true retard status, forgot about clocks, thought it was 3pm in NY been trying to fix my ****ng data feeds...Duuurrrrrrrr
 
excuse me? bold statement considering im rarely wrong!
Click to expand...

He's really opening the door for me on that one, but he's getting a pass since my last two trades sucked spectacularly..

next time Gene.. next time..
 
im pondering wether this could be front running of a rate hike..i said a few months ago october/november time we might see a hike
 
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