The Surf Report

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Quote from JimmyJam:

OK, I was confused.



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Now, for anyone who is looking at my chart and analysis critically (a) the chart is of the Euro FX, it is not the actual currency pair, that is why you will see the slight discrepancies in bottoming price action AND (b) I averaged the last entry, seeing as how these numbers go out to the 4th decimal place, my average number is going to be slightly off from yours.

In the final view, you're set to make a lot of money using a technique that no-one else around here is even thinking of applying (or maybe they are but just aren't saying it ...).

Have a nice weekend.

Best Regards,

Jimmy Jam
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sorry, JJ. I agree my wording was not clear. to recap--i am SHORT the EUR/USD pair here expecting euro to rise--- Long euro.

regards,

surf
 
Quote from marketsurfer:

my break even level in the short eur/usd pair ( long euro) was 1.2600. profitable here @ 1.2510
surf
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Is that how people usually express being long euro ("short the eur/usd pair")? I know it's upside down for yen (I see lots of people say "buying yen here" when they mean buying USD/JPY), but didn't know it was same for euro.

If you are long euro you'd be short the USD/EUR pair, no?

Anyways -- if break even was 1.26, how is it profitable at 1.2510? Just confused.
 
No, this is stupid. You're long the base/numerator as it is quoted. In this case; long dollar is short EUR/USD. At least make an attempt to appear knowledgeable.
 
Quote from riskarb:

No, this is stupid. You're long the base/numerator as it is quoted. In this case; long dollar is short EUR/USD. At least make an attempt to appear knowledgeable.
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yes, you are correct. totally my lack of knowledge in the currency market. i am short the eur/usd pair, making the position long dollar. thank you for the clarification.

surf
 
Quote from illiquid:

[...]

Anyways -- if break even was 1.26, how is it profitable at 1.2510? Just confused.
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thx for the clary surf, but still that's what i can't understand...^^
 
Quote from illiquid:

Is that how people usually express being long euro ("short the eur/usd pair")? I know it's upside down for yen (I see lots of people say "buying yen here" when they mean buying USD/JPY), but didn't know it was same for euro.

If you are long euro you'd be short the USD/EUR pair, no?

Anyways -- if break even was 1.26, how is it profitable at 1.2510? Just confused.
More...
Quote from riskarb:

No, this is stupid. You're long the base/numerator as it is quoted. In this case; long dollar is short EUR/USD. At least make an attempt to appear knowledgeable.
More...
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According to OANDA, you're Long EUR/USD surf (Long EUR and Short USD), like illiquid and riskarb just said (attachment).

I'll let you guys hash it out, I'm hungry. Dinner time.

JJ

P.S. - Just saw your post updating your postion. Um ... OK ... Fine.
 

Attachments

Quote from marketsurfer:

no, you are in error. short eur/usd is long euro. long eur/usd is short euro.

surf
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GBP/USD "cable"

1.8553/8556

Units in USD required to finance the purchase of GBP. You're selling the domestic currency to finance the foreign base currency. You're always long the numerator, selling the denominator.

Buying GBP at the offer will cost $1.8556 USD. You earn 50 pips if the pair rises to 1.8606/8609.
 
Quote from riskarb:

GBP/USD "cable"

1.8553/8556

Units in USD required to finance the purchase of GBP. You're selling the domestic currency to finance the foreign base currency. You're always long the numerator, selling the denominator.

Buying GBP at the offer will cost $1.8556 USD. You earn 50 pips if the pair rises to 1.8603/8606.
More...

Yeah man, thanks for the clarification. They can get the long version from the word doc.

Peace Out.

Jimmy
 
Quote from riskarb:

GBP/USD "cable"

1.8553/8556

Units in USD required to finance the purchase of GBP. You're selling the domestic currency to finance the foreign base currency. You're always long the numerator, selling the denominator.

Buying GBP at the offer will cost $1.8556 USD. You earn 50 pips if the pair rises to 1.8603/8606.
More...


yes. i was clearly in error, thank you.

surf
 
man, sorry for the consternation caused.

i (wrongly) believed that short eur/usd was long the euro, my error, in addition, switched from long eur/usd back to short eur/usd without advising--once again, my error. trading and the surf report has taken a back seat to the new fund project hence my seemingly lack of logical congruency in the posts.

to recap the positions held now:

SHORT eur/usd

SHORT djia

SHORT oil

LONG naps

regards,

surf
 
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