Forex Day Trader's Thread

looks like sterling might have run out of steam in the 1.4850 area. I think dow will have to go into the positive for it to push higher
 
This stock rally is not helping me out at all.. s/l 134.15

[gulp] getting close and not looking good at all..

If I get stopped out here I'll quit EUR/JPY and look to short Cable 1.498 with a tight stop
 
news is saying that equities are rallying on the view that quarterly results of banks will show stabilisation returning to the financial sector. I am a bit worried about shorting GBP/USD when there is that sort of sentiment in the market. The results of these banks will depend not on how much toxic debt they still hold but on how good the traders that are working for these banks are. With such volatile markets, I am guessing there are only a few banks out there with good enough traders to profit of these movements, well the banks that haven't sacked their entire prop desks! Having said that, spreads in fixed income markets have widened and competition has fallen, so the market making operations of these firms are likely to have made a tonne of cash, namely, Goldman Sachs and JP Morgan. If the USD continues selling off, it means the market believes that the worse is over and we have reached the bottom, I don't buy it
 
im still sticking by my earlier theory of fake outs etc, if im right..drinks on me. currently holding short gbpusd and eurjpy
 
EUR/USD 1HR Charts RSI is 81 ..

I'd say EUR/USD will have no choice but to unwind in the 1.34s

There's resistance at 1.3425
 
the market is still reluctant to push GBP/USD past 1.4850, it has been trying since 16:40 GMT. I am shorting as soon as dow closes
 
GBP/USD just broken range on the upside. don't know where it gona go know, 1.4950? I am a bit reluctant to trade this at the moment, looks like a lot of ppl ave been losing being short on euro or sterling
 
ugh.. EUR/JPY trade brushing up against the s/l.. just needs a little push and then the cursing will begin in full force
 
I'm long EURUSD since 1.3164 last nite, due to it getting bouncy on support.

In retrospect it was a crap entry (just got home from the pub), but it turned out to be a fairly good trade, heh :LOL:
 
ALCOHOL IS TO BLAME FOR ME BEING IN THIS DAMN TRADE!

and now I need a drink to calm my nerves..
 
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