DRT's Currency Trades
- Thread starter downrivertrader
- Start date
The following is the link to the place where I disagreed with the analysis of the USD/JPY. This occurred on 07/07 and I was right until the 11th when the downtrend continued. I was clearly wrong in this case, but I wasn't in and haven't been since. I've been in other currency futures . Euro, BP,CD and AD. I simply haven't been in the Yen, because I like to underleverage as opposed to overleveraging. That has been one of the keys to my long term success.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1124200&highlight=DRT#post1124200
http://www.elitetrader.com/vb/showthread.php?s=&postid=1124200&highlight=DRT#post1124200
The attached describes the CME minimum margin requirements. What this shows is that it is not possible to have these trades on as described during this thread. It's Ok to post analysis etc., and it's ok for us to read it, but we should all be aware of what it is. Using ET for papertrading is fine, in fact it is a very good way for a newbie to learn the ropes in public which is what the market is all about anyway. Good luck to you!!
You should really be more concerned about the quality of your own analysis. DTR is providing high quality analysis in this thread and backing it up with account statements showing his position size. I appreciate his work and want to thank DTR for this thread. I don't care if DTR shucks corn for a living and lives in a mud hut, he has balls and his analysis is the best I've seen on the currencies. I think he just got a little ahead of himself on EUR/USD. Chances are good we trade back to value at least to 1.26 on EUR/USD, possibly in anticipation of the FOMC minutes.
Quote from Buy1Sell2:
The attached is the CME minimum margin requirements. What this shows is that it is not possible to have these trades on as described during this thread. It's Ok to post analysis etc., and it's ok for us to read it, but we should all be aware of what it is. Using ET for papertrading is fine, in fact it is a very good way for a newbie to learn the ropes in public which is what the market is all about. Good luck to you!!
How exactly is it "not possible", given this post earlier today and the TS account snapshots above?
Seems perfectly clear to me... almost every serious trader maintains more than one, adequately sized account. I couldn't imagine not to. And can we keep from hijacking this highly worthwhile thread into baseless ("papertrading"), ad hominem attacks? Or maybe that's too much to expect, on ET or online.
Thanks for the support Mephisto, vanquish, whoispaul,patrick, lateapex. I'm not sure what this guy or gals deal is. Reminds me of Mr. Rogers or something. Everytime I start something, he comes in and makes unfounded comments about it. I don't think he even read thru the prior post. He just opined because he is a professional opiner or something.
Let's move on and get back to trading. 2530 is holding on the EURUSD so far. Might make my target 130.
Let's move on and get back to trading. 2530 is holding on the EURUSD so far. Might make my target 130.
[19:42 EUR BRIEFING: Rallies Minimal as Losses Consolidated See 2335 ] Boston,
October 10. EUR/USD slipped through 1.2560 support in Europe this morning as
stale USD shorts headed for the exits as markets returned to full strength after
market holidays on Monday. The North Korean nuclear test and the grudging
acknowledgement from the PBOC that there are no compelling alternatives to USD-
denominated reserves (despite their fears that the USD will fall) combined with
firmer US interest rates all helped boost the greenback. EUR/USD dipped below
1.2520 briefly before Chinese demand helped stall the decline. Protection of
1.2500 barriers is rumored. 1.2525 and 1.2550 barriers gave way today.
ECB chief Trichet testified before the European Parliament today and reiterated
much of his upbeat statement which followed the ECB meeting late last week. The
market took little comfort in his comments, having heard them all before. That
the ECB will keep hiking is not news; that the Fed will likely not cut early
next year is, and the USD is rallying accordingly.
October 10. EUR/USD slipped through 1.2560 support in Europe this morning as
stale USD shorts headed for the exits as markets returned to full strength after
market holidays on Monday. The North Korean nuclear test and the grudging
acknowledgement from the PBOC that there are no compelling alternatives to USD-
denominated reserves (despite their fears that the USD will fall) combined with
firmer US interest rates all helped boost the greenback. EUR/USD dipped below
1.2520 briefly before Chinese demand helped stall the decline. Protection of
1.2500 barriers is rumored. 1.2525 and 1.2550 barriers gave way today.
ECB chief Trichet testified before the European Parliament today and reiterated
much of his upbeat statement which followed the ECB meeting late last week. The
market took little comfort in his comments, having heard them all before. That
the ECB will keep hiking is not news; that the Fed will likely not cut early
next year is, and the USD is rallying accordingly.
Romik,
I am not really completely familiar with the concept of averaging down...but I would say that I do average down. If I am unsure about the exact entry, I will sometimes buy or sell at two different levels. I did this today when entering on the EC. In general, my entries are not very far apart though.
So I guess the answer is that I do it, but it is not something I do on a regular basis.
DRT
I am not really completely familiar with the concept of averaging down...but I would say that I do average down. If I am unsure about the exact entry, I will sometimes buy or sell at two different levels. I did this today when entering on the EC. In general, my entries are not very far apart though.
So I guess the answer is that I do it, but it is not something I do on a regular basis.
DRT