How to trade the EUR now

Quote from oldtime:

oh, don't worry, if things keep moving against me, I'll have a stop above 3110, but by then it will be protecting less than a full load, I'm not a very good guesser when it comes to which way it is going to go, but I do ok when it comes to how much I should bet

that's why this time of year, I take some comfort in my illegal baseball betting account. Always the same amount, no matter what just happened.

Once you start averaging down, then it all becomes a matter of position size

to each his own, some like guessing, I like position sizing

either way, you have to guess

I just find when it comes to eur.usd, I am not a very good guesser

but that still doesn't stop me from guessing

and you were right, and I was wrong, a little relief on the open Sunday night, just like you guessed
More...


lol. good one OT. I still have no idea what the hell you're doing. I can't quite grasp the money managing techniques per se. But basically, from what I understand you dont give a shit where it goes (not directional) and just throw a "full load" on and if it goes against you you average down till... im lost again.

And yea, it was just a lucky guess. Didn't trade it.


Why don't you try using options for your trading? Not sure you would have an edge there though, I think you have to be directional in some way.
 
Quote from contra:

lol. good one OT. I still have no idea what the hell you're doing. I can't quite grasp the money managing techniques per se. But basically, from what I understand you dont give a shit where it goes (not directional) and just throw a "full load" on and if it goes against you you average down till... im lost again.

And yea, it was just a lucky guess. Didn't trade it.


Why don't you try using options for your trading? Not sure you would have an edge there though, I think you have to be directional in some way.
More...
no, I make a long term bet, and then just run the thing like a store

so recently, I have a eur.usd store, buy sell trade

but no customers force me to buy

and right now I am not buying (already did that, full inventory, no more, and may soon have to start having a clearence sale)

it is very rare for me to have a full load on, and it is usually the result of miscalculations on my part

most times I am quite willing to buy sell or trade, just like the local pawn shop, if you hit my price,

most of my customers are getting stopped out, in a bind, and will agree to my price

it's certainly not a straight road up, all the risk is mine

but you'd be surprised how trading at a limit with someone trading at the market can keep you even

sometimes, it's just the little things
 
Quote from oldtime:

no, I make a long term bet, and then just run the thing like a store

so recently, I have a eur.usd store, buy sell trade

but no customers force me to buy

and right now I am not buying (already did that, full inventory, no more, and may soon have to start having a clearence sale)

it is very rare for me to have a full load on, and it is usually the result of miscalculations on my part

most times I am quite willing to buy sell or trade, just like the local pawn shop, if you hit my price,

most of my customers are getting stopped out, in a bind, and will agree to my price

it's certainly not a straight road up, all the risk is mine

but you'd be surprised how trading at a limit with someone trading at the market can keep you even

sometimes, it's just the little things
More...

Now I get it, that cleared everything up for the most part
 
Quote from contra:

Now I get it, that cleared everything up for the most part
More...
6 of one, half a dozen for me, same thing, just depends on how your mind works, and what makes you happy enough to not commit suicide

man, it's a rough way to go

especially when you lose more in a few hours than you use to make in a month

it helps if you, or you know people who have been in business for yourself

that's why I have virtually no patience for people that want a job

If you want a job, why the hell would you go through all the agony of trading?

and if you want a job, there is no hope for you as a trader

some people are just born natural employees

fortunately, even the Federal Reserve is printing money based on how many of them are failng

so, until they get their head out of their ass (along with all the elite that think these born employees will never do any better than what they were born to do) there is something pretty constant to bet on.
 
Still the 200 days moving average of 1.2950, acting as a valuable support. We'll see what happens on Thursday with the ECB. Breaking upward 1.32 before that might represent a trap for bulls.
 
rate cut should cause it to break 1.2950. if it does not, something else going on behind the scenes. the short here is one of those setups that looks too good to be true so current price action smells kind of funny right now.
 
Better trying the long on EurGbp rather than facing the uncertainty of EurUsd. EurGbp has demonstrated the strength of the support of 0.84.
 

Attachments

Quote from elisab:

Still the 200 days moving average of 1.2950, acting as a valuable support. We'll see what happens on Thursday with the ECB. Breaking upward 1.32 before that might represent a trap for bulls.
More...

Breaking above 1.32 could also have been a bear trap. How many of you who were short, got stopped out and were tempted to jump right back in again on another short?

Took me 13 days to realize 101.5 pips on my long finally selling at 1.32403. Short or long from here???? I think I'll wait till after ECB.
 
Quote from SimpleTrades:

It could also be a bear trap. How many of you who were short, got stopped out and were tempted to jump right back in again on another short?

Took me 13 days to realize 101.5 pips on my long finally selling at 1.32403. Short or long from here???? I think I'll wait till after ECB.
More...
that's exactly wha I did, got stopped out a little at a time all the way up

now I'm short from 3221
 
Quote from oldtime:

that's exactly wha I did, got stopped out a little at a time all the way up

now I'm short from 3221
More...


However, as you said, there is also the USD side of the EURUSD equation, and the USA numners are weak. The ECB decision could cause nothing more than a very brief bounce.
 
You must log in or register to reply here.
Back
Top