Daily EUR/USD trades

The point is that, unless Ganndude is right - and I hope he is - and the dollar's going to enjoy a longer rally, we're all going to have to protect our money from severe depreciation. Otherwise, trading will be like trying to fill up a bucket with a leak in it.
 
I'm not sure I understand what you are trying to do then.....assuming I am correct, and all of us benefit from an extended dollar rally, would it not make sense to 'ride the wave ' back up when it was time?


No sense in locking yourself into any currency when you BLASH your way into prosperity :)
 
Quote from Ganndude2004:

I'm not sure I understand what you are trying to do then.....assuming I am correct, and all of us benefit from an extended dollar rally, would it not make sense to 'ride the wave ' back up when it was time?


No sense in locking yourself into any currency when you BLASH your way into prosperity :)
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Of course it would - but you're going to have to store your money in some form, and it wouldn't be good to make a lot of currency X by trading, and then one day currency X becomes worthless like the German mark after WWI. It's better to make your money trading - or however you make your money - then store it in the form of currencies X, Y, and Z . Then if currency X or Y becomes worthless, you don't lose your entire fortune.
 
Quote from bjohn:

Of course it would - but you're going to have to store your money in some form, and it wouldn't be good to make a lot of currency X by trading, and then one day currency X becomes worthless like the German mark after WWI. It's better to make your money trading - or however you make your money - then store it in the form of currencies X, Y, and Z . Then if currency X or Y becomes worthless, you don't lose your entire fortune.
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Ah...gotcha.


I'd suggest rather than buying currencies, to buy commodities. I am not speaking of futures. I am thinking you would want to take ownership of gold/oil, pay to have it stored somewhere, and forget about it for a few years.
 
Quote from Ganndude2004:

Ah...gotcha.


I'd suggest rather than buying currencies, to buy commodities. I am not speaking of futures. I am thinking you would want to take ownership of gold/oil, pay to have it stored somewhere, and forget about it for a few years.
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I should add - I have no experience in this...its just the first thought that came to mind :)
 
Quote from Ganndude2004:

Ah...gotcha.


I'd suggest rather than buying currencies, to buy commodities. I am not speaking of futures. I am thinking you would want to take ownership of gold/oil, pay to have it stored somewhere, and forget about it for a few years.
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Good point; I've actually already begun a gold-buying campaign. Oil is another thing - no idea where I would store that, but I wouldn't mind owning it. I think that owning a combination of precious metals and currencies would make me feel secure.
 
I shorted the EURO a few days ago at 1.3450, have earned $10.20 in interest and am still waiting for it to move down further. Judging by the daily chart I think it will continue down...I am hoping about 100pips. Any thoughts?
 
3420 has been very generous for my longs recently.

Don't think it will hold though, will definately look to buy at lower levels
 
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