Going Against The USD

Quote from NTB:

With all due respect, Drawdown is absolutely right. You simpletons are really missing the big picture here. Don't you understand that you can make big money by having one account that is long and one account that is short? If the market goes up, you sell your track record in the account where you held a long position to trade OPM and you make big $$$ for yourself. If the market goes down, you sell the track record in the account where you held a short position to trade OPM and you make big $$$. This is a sophisticated strategy that has been used by some very savvy money managers throughout the years. Really, it's very simple.
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And what happens if spot takes off and goes one way, n'er to return? Your one account hits a margin call? How do you make money when that happens?

Let's just say it takes off in one direction and you don't close your position, but leave it open as you sweat and sweat - but after an 8 month period, it finally comes back. You've locked that cash up on that trade during those 8 months while you were praying - and you could have made so many other trades during that time.

I'm really interested in how you see this as a viable trading strategy.
 
Quote from DrawDown:

TP on overall trade changed from + 15 to a close via a Limit order at 1.2520.

Nitey-night... guys.

FX
1.2502
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You started a whole thread bearish USD, and you sold your euro at 1.2520? Dude you missed out!

Oh yeah, how's the short doing on the other account?
 
Ugh that thing. Just something to keep myself honest with a consistent reminder of how easily I f*ck things up :)

Very prescient post btw Ivan. Today is just one of those days "trading to never be wrong" gets it's ass handed to it.

Quote from Ivanovich:

And what happens if spot takes off and goes one way, n'er to return? Your one account hits a margin call? How do you make money when that happens?

Let's just say it takes off in one direction and you don't close your position, but leave it open as you sweat and sweat - but after an 8 month period, it finally comes back. You've locked that cash up on that trade during those 8 months while you were praying - and you could have made so many other trades during that time.

I'm really interested in how you see this as a viable trading strategy.
More...
 
Quote from DrawDown:

TP on overall trade changed from + 15 to a close via a Limit order at 1.2520.

Nitey-night... guys.

FX
1.2502
More...
TP hit @ 1.2520.

Money, money, money.

*yawn* ...

Current = 1.2563.

Always close into strength.

LMAO

FX

PS: Any of you boys make any MONEY on the upward spike? No? Can't you do anything more than post stupidity? That's what I thought.
 
I did. And still long target of firt lot 1.26, target of second lot 1.28.

My stop loss was 4 pips away from the bottom, was a close one.
 
Quote from chafro:

I went long euro also at 1.2493 stop 10 pips under the 1.2475 point. Im doind this only because this movement down doesnt make sense. Good Luck to me.
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Great trade, Chafro!

My question was not directed to you, it was directed to the resident star posters.

Best,

FX
1.2557
 
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