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Whatever pal, won't be missing you.

I am a day trader and not a position trader but I liked the look of this one and the more people like you argued against it the more I liked it. Nothing happened in retrospect, I took the trade weeks ago and closed it ages ago too. I'm not here to convince you or anyone else of anything other...

Oh, and I wouldn't buy it now but I'll buy back in if it puts in lower prices again.

I'm a day trader but I bought a small position at about 1.2150. I cashed it in rather than hold on for longer. I was hoping it would go a lot lower so I could build a position long but it seems it's not going to do that. The position was small enough that I could have held it way into the red...

What heat? Read up about position trading, no need for blown accounts, just a sensible approach and a longer time horizon than most traders.

I think if you're analysing how people think on here you're losing anyway. Position traders are making money buying gbp pairs and all you people who can't see it won't stop them.

@Zzzz1 Position trading is not the same as counter trend trading. It's all a question of different goals and time horizons. I don't know about yourself but most of the people criticising the idea of buying into a falling GBP at the moment have no clue what they are talking about and will...

D'oh. I'm amazed that so many people can miss a simple point.

Unless you're a position trader and you don't care about any of that.

Well whatever, you've made your minds up.

I'm still taking issue with your use of the word pain. Who's in pain? A well funded and well positioned play on this has a good probability of working out. Again, drawdown is not always necessarily bad, you just have to position and scale in properly. True this will yield small gains for a small...

Either deep pockets or a good money management method that will keep them in the game even if it goes to 0.80 so that they can bank good returns when it hits 1.7 or higher again. None of this will happen overnight but it's actually a high probability play. Remember CHF in August 11?

You say that as if drawdown is always inherently bad. Nobody suggested this is a day traders play.

Exactly, so to those who know what they are doing there is money to be made in GBP in the long term. That was my point which makes perfect sense I think. (and I have to add that even if it does go to parity or lower a good trader/investor would still be in the game. It's a question of how you do...

Well we'll agree to disagree. That is what makes a market after all. You do have a point that such a trade would be more position trading/investing so we can agree on that at least.

Depends how you define "professional". If a professional trader is someone who takes their sole income from trading then you can count myself and a few other people I know as professional traders who use metatrader. There are a lot of people who are very sniffy about it but have either never...

Seems there are a lot of undercapitalised and/or under experienced traders here talking a lot of nonsense. If you know how to trade and you have sufficient capital buying the pound right now is a great idea. If you question the wisdom of that then I seriously suggest you don't do it and leave it...

Sometimes dax moves nicely on the 1 min charts and sometimes it doesn't. The past week hasn't been particularly good for momentum traders if you were looking for moves with any kind of trend structure to it. I sat a lot of it out. I don't see the advantage to less volatility? Most of these Euro...

Best advice is always close the position with whatever loss you have, clear your head and start again. It may be a big loss but chances are it will only get bigger. If you wanted to test that idea just place your stop loss below that big red candle. If it moves down more it takes you out, if it...

I use support and resistance but more often to stop me from trading into something. What I do is all about momentum continuation. I'm slightly less worried about the overall trend and more interested in the immediate momentum. When everything lines up the way I want it I jump on and take some...