Eur/gbp (top)

That's what makes a market :D

The only one I am down on is EUR/USD. The others have more than offset those losses. Best of luck.
 
Quote from Ivanovich:

RFT - I'd be very careful about calling a top here. The Euro benefits from irrational bouts of exuberance, and I think this is one of those. The Euro absolutely shouldn't be gaining here, but it is. One would think the pound would gain faster, but again, it's not. It's almost as if investors have forgiven any downturn in the EZ, but penalized the UK for it's recession. Stupidity, as usual.

I think what we're seeing is a (temporary?) repricing of inflation right now. IE, commodities, and as a result, the Euro, beginning to think of what happens after we're out of the current downturn.

If it proves to not be temporary, then we'll undoubtably see a run back to the 1.34-6 area.
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Thanks Ivan. You are right, I checked eur/usd and indeed it looks like this pair is mirroring what is happening here.

I have scalped it, so I have some profits to shoulder things if I were wrong.

I think if I knew what you just wrote, I could take more from my scalps.

I am going to take half of what I sold as it is already showing 20 PIPS profits.

Thanks very much!

PS: readers: I refer to Ivan as Mr. Forex!
 
Quote from riskfreetrading:

12:05PM: I did a quick analysis. It is stronger than I thought, BUT I AM BACK IN!

I have made some 180PIPS on it as profits to should any possible losses.

Pair is now around 0.88. It is a round number, and would look good for a top if it were to happen.

I also noticed that many people posted. I have not read your posts it, as I am also in the battlefield of stock trading. So, I have to fight two battles at the same time!
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My entry was at about 0.8795.

Pair is now at 0.8763 at 12:33PM.

I am taking half of short off. Profit around 30 PIPS. I am leaving the second on to avoid regrets!

The 30 pips should correspond to only 15 PIPS (for overall size).

Cumulative profits to be calculated later. It is around 195 to 200 PIPS.

Given that I have now only half the original size, my cost basis/breakeven on what remains is close to 400 PIPS higher than my latest short at about 0.8795.

Thanks to all who warned me! Great advice. It keeps me in check of myself.

I am going back to stocks now. I will comment later.
 
7:12PM: eur/gbp at 0.8698 I am putting the half size I took off earlier today back. Ideally I should wait until a possible revisit of 0.8820 area (20 pips higher), but I do not have time to watch it, and also there is no guarantee it would revisit that level. Since I took 30PIPS profits on this half earlier, and have 200 PIPS profits realized on this since starting this thread, I could not take my hand off this pair.

I may disappointing those who warned and/or adviced me, but I am back to my original thinking.

Cumulative Profits: 200 PIPS.
Realized losses: none
Unrealized profits: none or a little plus.
Unrealized losses: none (for the moment).

Time is 7:17PM as I hit the buttom to submit this post.
 
Quote from increasenow:

RFT...why only trade the EUR/GBP?...how many lots do you throw at it per trade?
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I looked at some pairs over the weekend, this pair caught my eyes. Also AUD/NZD caught my eyes.

Try AUD/NZD if it is about the area of 1.2275. Some sort of cap in that area, but I have not looked at it since weekend. Also, I did not know much about NZD, so i skipped it.
 
Quote from increasenow:

RFT...why only trade the EUR/GBP?...how many lots do you throw at it per trade?
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Just realized you also asked about lots.

I do not move markets, that is for sure. A cash-poor (hopefully knowledge rich ?) guy trying to get some cash from the richer people, and have some fun with friends in here doing, and if I were to win and you were to join me and are richer than me then you will make more than me. I would love hearing about you making more money than I do.

If you have some dough under the mattress or other lazy/injured capital, and you do not hate what you see from RFT, PM me and a deal we shall discuss. No problem with RFT! :p
 
does not build you a reputation to stop posting when the trade goes against you. i thought we may learn something from your trading - nobody really cares how many pips you make.

i guess you will say something like you were stopped out on your last trade at brake even anyway. who cares. gl
 
Quote from increasenow:

actually, Ivanovich is one of the most insightful Forex traders on ET
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point well taken.. if someone can help you make money one should overlook the negatives of that person.
 
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