Forex Day Trader's Thread

went short oil from 38.00 to 36.75 today

went again short at 37.15, maybe not the best price any more, but HEY as long as it works,i will keep shorting.. as dow will dive to new lows, oil wil surely move rapidly lower before your eyes, you will probably get no chance to get a good price in a declining trend, and you better be in it.. yeah oil is famour for its volatility always use stoplosses, if you dont want to use stoploss go trading the iceland stock exchange .
furthermore one can always decide to take a loss, if you look at last week
i took a mere 9 pip loss on a currency trade, after which i gained a 180pip on the next.

surely, i risk only a % of the ACcumulated gains.

the time i have to pick a loss on oil will come, and could be very close :(

other option is to go fishing if you want have no risk, but fishing is surely boring ;)

oil brought some luck last week

take care

OIL 36.40

now trail to 37.00

I now want to see a sharp continous decline, in case of trailed out, i will move to the sidelines,otherwise i try to keep it but not take profit in any circumstance just trail
 
oil gets hammered big way now.. the oil is a kind of shadow for the euro..
35.30 ! can;t believe it. i am trailing to 36.78 now
 
oil down 5%.. same like.. a 500 pip drop on euro/usd

but HEY you never know.. if i wouldn't trail now i go better be hunting birds
 
i am sorry took profit.. oil in lower 35's . and treasury bond at 128.55 long from 126.20

Quite a jump ridd
 
yes, the ranges broke downward in USD pairs but USD/JPY is going up.. This is what I was talking about last night.. JPY has fallen out of favor with safe-haven seekers..

If you're long USD you're ok.. if you're not .. ouch..
 
Be prepared to t/p on your EUR/USD shorts boys.. the market is very short and ripe for the mother of all short squeezes.. t/p and reshort when the investment bank shenanigans are over.. With all this Russian and Eastern European bank crisis going on Euro is truly DOOOOMED.. not that it wasn't before, but the bulls are becoming disinterested in pissing me off anymore..
 
targets for euro/usd 1.2400 OR 1.20x
yea.. the minimum dive is 1.25x

furthermore.. if this euro/usd wave has ended.. a longer larger countertrend will start..

but i would say , too soon to call the bottom :)

sold off gbp/usd at 142.70 Target 140.70 stop trailed to 142.60 its a bit close.. but it means i will not have to bank a loss on that.. risk aversion time ;)

will be last trade for today
 
stop trailed to 142.52 could ACCELERATE NOW.. actually i demand it NOW..otherwise ....

i am gonna drive.. will look later..

enjoy lads
 
Yes, what I've been waiting for the last two months is for EUR/USD to finish this wave and I'm going to try to put 50 lots long at the appropriate time.. The thing I don't know is whether it'll stop where it did last time or continue on to 1.15 .. Either way it's a golden opportunity for a huge BUY AND HOLD trade.. the real bread and butter of trading..
 
Yes.. Pip.. but i will be around this thread.. to try to see if we can call the bottom.. if it a larger uptrend.. it means you dont have to be in the bottom..
but you can stil enjoy 70% of the trend.. if you wait for confirmation points..
 
I like the challenge of picking the bottom ..

also, I think EUR/USD wants to come up a bit.. Stocks going down but it's coming up.. I have a short limit order 5 lots 1.267
 
oil can fall to 25/28 basis the march future
dont think euro is around 1.26 at the same time.

probably at least around 1.20

looking around commoditie markets, i would say bottom is not in, which is good news if you are shorting commoditie.. they can easily fall like idiots, like 7-8-10% in 1 day

ENJOY
 
what are your guys view on EUR/JPY, risk aversion is set to gather even more momentum and seems this pair cud get hammered. It is near a fairly strong support line, but risk aversion could cause it to break it. It failed to break short term resistance at 116.80 and has since pulled lower.
 
It seems you can't take a view on currencies without taking a view on the stockmarket these days, makes our jobs much harder
 
I'm confused about EUR/JPY .. what it's doing doesn't make sense.. Leave JPY crosses alone for now Trip.. Just go long USD and you'll be alright.. As I said before though watch for the squeeze and then sell the **** out of it..
 
trip.. hehe.. cud, gud, etc.. you're the funniest man :) You got a funny Yorkshire accent man?
 
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