How to trade the EUR now

[oldtime]

Quote from elisab:

The shooting star of Friday indicates a short entry below the low of 1.3045, stop at 1.3129.

I'm still short a full load from 3147, with an emergency stop to start scaling out at a loss at 3225

haven't made a trade in week

have a nice profit in the short eur.usd, but a large loss in a small position in the long aud.usd so basically, I am just spreading usd at BE.

can't remember if I took any losses to get short at 3147. but here I am

at anyrate, overall I am down for the week, the month, and the year 2013

 

[SimpleTrades]

... and I am long from 3138, feeling the paint, but nicely up for the month and year. I've been sitting on it for several days, debating whether or not to grow a set, and add to my long.

 

[elisab]

The volatility of EurUsd is falling, attention to the output side of the cross: 1.32 or 1.29?

Quote from oldtime:

I'm still short a full load from 3147, with an emergency stop to start scaling out at a loss at 3225

haven't made a trade in week

have a nice profit in the short eur.usd, but a large loss in a small position in the long aud.usd so basically, I am just spreading usd at BE.

can't remember if I took any losses to get short at 3147. but here I am

at anyrate, overall I am down for the week, the month, and the year 2013

 

[oldtime]

Quote from elisab:

The volatility of EurUsd is falling, attention to the output side of the cross: 1.32 or 1.29?

these are the times that try men's souls

I had a pretty clear cut opportunity to cover this morning and put it back on

but that was too new agey for me, so here I am, the old conservative stodgy, slow to move trader, still short

 

[Tsing Tao]

Quote from SimpleTrades:

... and I am long from 3138, feeling the paint, but nicely up for the month and year. I've been sitting on it for several days, debating whether or not to grow a set, and add to my long.

Keep adding as it goes down! What could go wrong?

 

[oldtime]

Quote from Tsing Tao:

Keep adding as it goes down! What could go wrong?

I know I am on your ignore list

but people like you make outrageous claims that adding as it goes down is a sure way to destruction

but you will never back up the other side and claim keep adding as it goes up is a sure road to riches

apparently, no matter what a guy does in your little world, he will end up a loser

 

[oldtime]

Quote from oldtime:

I know I am on your ignore list

but people like you make outrageous claims that adding as it goes down is a sure way to destruction

but you will never back up the other side and claim keep adding as it goes up is a sure road to riches

apparently, no matter what a guy does in your little world, he will end up a loser

The only thing you have complete control over, and nobody can take it away from you, no matter how big he is and how small you are, is your position size.

just to save you some grief, a few anecdotal rules I follow (and you know how rules are)

1. Never add to your largest loser

2. Never add to your largest position

3. Never try to break The Bank of England.

 

[SimpleTrades]

Quote from Tsing Tao:

Keep adding as it goes down! What could go wrong?

My pain threshold is reached at 2400. We're nowhere even close to this. I see no issue with averaging down so long as I pull the plug before 2400.

 

[oldtime]

Quote from SimpleTrades:

My pain threshold is reached at 2400. We're nowhere even close to this. I see no issue with averaging down so long as I pull the plug before 2400.

the thing about forex is, you also need to pull the plug when the max profit is reached

anybody can put it on and take it off when max pain is reached

I covered most of my short eur.usd at 3002

would have liked to have gotten more

that still puts me short a small position at 3147

but now, any time I add will erode my average price

 

[oldtime]

there really is no hope for them

they are still trying to guess what it will do

they think by meticulosly studying past performance, that somehow, they have discovered a pattern no other human being has ever observed, and that gives them an "edge"