Ouch!
- Thread starter sKaLpZ
- Start date
12:00AM PST Friday 13th
the EUR/USD low hit a few hours ago of 1.2665 marks 1000-pips (10 cents) down from the high of 1.3665 hit late Dec. 2004.
what does Warren Buffett and Bill Gates say about that?
I rode it up short from Sept. 2004 in the 1.2100s and rode it down short.
*BUSTS UP LAUGHING*
Gamal Saham Ruach
the EUR/USD low hit a few hours ago of 1.2665 marks 1000-pips (10 cents) down from the high of 1.3665 hit late Dec. 2004.
what does Warren Buffett and Bill Gates say about that?
I rode it up short from Sept. 2004 in the 1.2100s and rode it down short.
*BUSTS UP LAUGHING*
Gamal Saham Ruach
i wonder what sort of tolerance buffet and gates have got; 1.23? 1.21? 1.19?
did you say you expect the market to rally 500 pips?
did you say you expect the market to rally 500 pips?
No.
I said have a TP set 500-points up on the E/U long I opened at 1.2684.
The market may price in what's known as an "excessive" price swing (too far too fast) and have a retracement based on that.
I call it a "whoops-retracement." Look for it anytime between now and the next 2-cents down.
How far up it will go beyond the retracement depends on what factors and speculation blast into the market over the next several weeks.
Slam up a 1-day chart and look what happened the last low EUR/USD hit on Feb 7th. It spiked up 750-points by Mar 11th.
The love of euro is not quenched.
The anti-USD sentiment is not history.
The US economy at best is fickle. The hope for the euro is strong.
The measure of these principles will be reflected in the market in the coming weeks.
Personally, I would not close my EUR/USD long at even 400-pips up. I'll wait for the full 500-points just for fun.
It's called speculating on profit.Does anyone else think the EUR/USD rate will go up?
If I don't hear from you within 6-months, I'll presume the answer was No.
Coinz
How do these CME market makers make money? It just seems that they are getting hit on tons of bids, and no offers...any thoughts? And yes, I thought that the Euro would go down, although my current position says otherwise.
Well guys, the massive EUR/USD short I was in (that I was caught in) since Sept. 2004 was just CLOSED - total loss... under $60.
THAT was a trade-management wonder.
At one point I had over 50 short positions open in it all the way from 1.2100s to its high of 1.3665.
Man, I am letting out my first sigh of relief in... 8 months.
8 MONTHS?? That's how long I was in that trade???
WHEW!
Well, time flies when you're having fun!
What should I do now...?
I think I'll knock off and take another look at it next week.
I deserve a break.
Sam
ps: I'll be opening another short. Trading rocks.
THAT was a trade-management wonder.
At one point I had over 50 short positions open in it all the way from 1.2100s to its high of 1.3665.
Man, I am letting out my first sigh of relief in... 8 months.
8 MONTHS?? That's how long I was in that trade???
WHEW!
Well, time flies when you're having fun!
What should I do now...?
I think I'll knock off and take another look at it next week.
I deserve a break.
Sam
ps: I'll be opening another short.
Trading rocks.according to sources, Bill Gates and Warren Buffett are SHORT the USD.
(they have SELL positions)
please see attached chart.
it clearly shows the USD going UP in price since the beginning of this year, NOT going DOWN in price.
USD climbed against the euro from 1.3665 to current market exchange rate of 1.2628.
that is over 1000-points (over "10-cents") UP.
this means both of them (Bill and Buffett) are turning into Forex Stew and could get wiped out.
they both MUST be staring at $100s of MILLIONS in drawdown in their forex trading accounts now.
comments?
it should also be noted that the "legendary investor" George Soros, right before the massive 1600-point (16-cent) USD fall, said on Sep-30-2004,
"I don't see immediate major moves in the dollar. Currency speculators are more likely to die of boredom." [source]
the great SOROS got it totally wrong!
Bill, Warren, George... you should have me trade your forex accounts or else you guys could get them totally wiped out!
*busts up laughing*
sKaLpZ
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=748323>
(they have SELL positions)
please see attached chart.
it clearly shows the USD going UP in price since the beginning of this year, NOT going DOWN in price.
USD climbed against the euro from 1.3665 to current market exchange rate of 1.2628.
that is over 1000-points (over "10-cents") UP.
this means both of them (Bill and Buffett) are turning into Forex Stew and could get wiped out.
they both MUST be staring at $100s of MILLIONS in drawdown in their forex trading accounts now.
comments?
it should also be noted that the "legendary investor" George Soros, right before the massive 1600-point (16-cent) USD fall, said on Sep-30-2004,
"I don't see immediate major moves in the dollar. Currency speculators are more likely to die of boredom." [source]
the great SOROS got it totally wrong!
Bill, Warren, George... you should have me trade your forex accounts or else you guys could get them totally wiped out!
*busts up laughing*
sKaLpZ
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=748323>
Buffet oppened his short position 3 years ago. The man already made a shit load of cash and went through wipsaws far worst than 1000pips! You really think the man-god gives a damn??
He trades fundamentals and they haven't changed. The US is not doing any better and the innevitable will catch up again before the end of the year.
And we did not hit the 50% retracement target yet. Everything that's happening now is perfectly natural. Especially with oil finally breaking it's support, with USD never dropping as much as it once did with oil price at 58$, and always bouncing up stronger everytime the oil went back down... this momentum was in the making since january actually. Of course, i didn't see it back then.
Just noticed it last month.
I would say now is not a really good time to enter as a matter of fact. I don't know how much up room there's left for the USD, may be 200-400 pips, with big risk. And then the down trend will resume somewhere around september, and the price right now is not good enough for a good short either. There are far more better plays than EUR/USD these days. Look around. Don't be too hasty to enter.
Especially with a 8 months flat-trade! God, what a waste of time!
He trades fundamentals and they haven't changed. The US is not doing any better and the innevitable will catch up again before the end of the year.
And we did not hit the 50% retracement target yet. Everything that's happening now is perfectly natural. Especially with oil finally breaking it's support, with USD never dropping as much as it once did with oil price at 58$, and always bouncing up stronger everytime the oil went back down... this momentum was in the making since january actually. Of course, i didn't see it back then.
Just noticed it last month.I would say now is not a really good time to enter as a matter of fact. I don't know how much up room there's left for the USD, may be 200-400 pips, with big risk. And then the down trend will resume somewhere around september, and the price right now is not good enough for a good short either. There are far more better plays than EUR/USD these days. Look around. Don't be too hasty to enter.
Especially with a 8 months flat-trade! God, what a waste of time!