Going Against The USD

Quote from DrawDown:

Time has come.

Taking the other side of my own trade direction (while keeping my shorts open - hope no one is watching me).

Ya wanna stay ahead of the herd... this may be the only way.

Long @ 1.2495

Good luck euro-bulls - make me some money! :D

dRaWdOwN
1.2491
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Quote from DrawDown:

When everybody trades in the same direction (in this case buying the Dollar) - expecting the rate to go lower - that's the time to take the other side.

That's Market Law for successful currency traders.

dRaWdOwN
1.2501
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ANOTHER successful 100-pt call made a day prior to the move.

This time, UP.

dRaWdOwN, the god of forex
1.2573

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1136704>
 

Attachments

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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But you didn't make much money off of it, did you? You're still sitting there waiting for the market to come back down and let you out of your EUR short in the other account right? Just wanted to make sure where your system stands at the moment.
 
Ah ok, you sold 1.2520 and now you've bought back at 1.2572.

Since you're still short in the other account, essentially you've just snapped close a 52-pip loss? Is that how it works? Just wanted to get things cleared up, you're such an active trader. Thanks again.
 
Quote from illiquid:

Ah ok, you sold 1.2520 and now you've bought back at 1.2572.

Since you're still short in the other account, essentially you've just snapped close a 52-pip loss? Is that how it works? Just wanted to get things cleared up, you're such an active trader. Thanks again.
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Quote from DrawDown:

What BUGS losers and FX trading FAILURES is when someone like me comes along and openly demonstrates that winning trades CAN be made both long and short at the same time.

Please try to bear with the bozos who flame the thread, trying to get it closed,....
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Quote from chafro:

took profit from first lot at 1.2590 leaving the other ride till 1.28 take profit moved up to 1.2520.
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Yeah, I just missed my TP by a point.

Trade scrapped @ 2-pts profit.

Overall gains: Little less than 50% profit made on cap exposed to market (to margin).

Moving Long acct cap back into my Short acct where I just opened Position 2 short.

See update on the short trade in the Chinook thread, soon.

Good trade, Chaf.

fx
1.2591
 
Quote from illiquid:

Ah ok, you sold 1.2520 and now you've bought back at 1.2572.

Since you're still short in the other account, essentially you've just snapped close a 52-pip loss? Is that how it works? Just wanted to get things cleared up, you're such an active trader. Thanks again.
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Essentially. But if it takes off to 1.28, he'll sit there holding the short forever until it comes down. And if it never does, it's no big deal. He'll just be out $15.
 
Quote from DrawDown:

Moving Long acct cap back into my Short acct where I just opened Position 2 short.
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So the next step is to closing out the winning side and double down on the loser?
 
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