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Covered. New resistance at 158.53. After that 158.65, and 158.80. I will wait for the bounce, weakness, then sell again.

I am going to cover the position I sold at 158.60, at 158.40.

As I made profit on the move down, and I think that it would go down, I will only short on bounces up after weakness is confirmed.

I think that it is trying to reverse on daily chart. I took profits. I want to see a bounce back up, then short on weakness. Current resistance seems at 158.80. It may even go back up to 159.10.

Your are right, but please be kinder to him--He just lost money. It must not feel good at all to lose. He may be looking for comfort and understanding. But again you are right, and I understand what you want to tell him.

8PM make trades involving JPY (some movement) 2PM European currencies (EUR/GBP/CHF) (more movement) 8Am New York session. Everything moves (highest movement) 2PM to 7PM: sleepy.

Is this real or paper trading? If you are using live money, I suggest that you start with only $100. I have taught some to trade, and I will ask one of my students to send me the link to her equity curve. If she sends it to me, I will post the link. You will be able to have a look at her equity...

I am sorry to hear that you lost that money. You need to learn how to trade. Forex (and most of trading) is a NEGATIVE sum game. PM me if you wish to learn more. Also, yesterday, I was a bit bored and made some live trades. Go to forex trading and you should see how I traded (Live Trades is the...

I like it very much! :D

Excellent explanation! Would also like to add that if one is long a call one is implicitely holding a borrowing position. The opposite for a long put (lending position). So interest rise after transaction has positive impact on long call and short put holders. This may be helpful in remembering...

If you look at the BS (no negative things intended) model the vega convexity is not priced.

I am not sure what you meant and understood from my comments. The essence of what I wanted to say is that when exercise is american style, and other things, the american option put (or call depending on carry) carries an additional premium. Therefore if american style, put-call parity cannot...

Then you should have a problem against yourself! You want me to refuse a textbook definition, and accept an arbitrary/street definition.

Do you want me to use a street definition? I read words and check their definition in dictionaries. Plus, how do you know that this is what he meant? After his first post he gave links in which I read this definition of devaluation: "In common modern usage, it specifically implies an official...

The put-call parity comes with many ifs: 1. both positions are assumed to be held until expiration. Equivalence is in terms of dollar loss/gain, and not in term of percent returns. 2. Many things can get you out of the equivalent position such as over leverage. 3. Valid only for...

What does the word "devaluation of a currency mean" in a technical economic sense. Is it different from floating rate?

I am sorry the question was devaluation! You can not have both a free market and devaluation. It is an impossibility. Who is in his right mind? You or I. I use the word devaluation as defined. You misuse it. Is it my problem if you do?

You may want to watch a show by Charlie Rose on PBS with the French President. You should be able to see that a fair minded guy like Charlie has checkmated Sarkozy on the Turkey question. This country (USA) rightly supports the point of view that Turkey is in Europe. I believe that Turkey will...

Please do not use those words. I am jewish. Do you have any problem against jews?

In agreement with you on all those risks.