Posts by "montmorency"

I'm not going to be trading for the next couple of weeks, but my "predictions" for Euro for the early part of next week is bounce up to 1.365 then down to 1.355. By the time I get back, this will be ancient history of course. Happy trading all.

@RKK: the pathetic Euro as you accurately describe it has barely made back half of its losses from the previous day, in spite of all the European sticky plaster applied to it and the successful Greek bond auction. When the cans of worms waiting in the wings are further upturned, as they surely will be, the bottom will drop out of it. Still waiting for some constructive comments from you, as opposed to the playground language. What are your hot calls for next week, for example? And will you actually be trading them?

@ptaczek: Are you by any chance a fan of Dirk du Toit and BWILC? If so, you would not be the only one here. I too use low leverage, although I do use stops, but wide physical ones to allow for volatility and pullbacks, perhaps smaller mental ones. It's a different approach to what is taught in most trading books, but it can work. Also depends on some knowledge of fundamentals I believe.

[that should have read 100 (one hundred) pip profit; not sure what happened there]

In part of the 3 Gurus webinar (I only saw part of it, but the rest should be available as a recording) one "sentiment" expert was saying that in terms of sentiment and market cycle, the Euro was probably approaching oversold territory, and he'd be looking to buy soon (but not until the downward momentum had petered out; don't think he'd be going short though). Cable on the other hand had nothing going for it, with downside still to come. Gold was about neutral; he thought it would probably still advance, but I don't think he would buy it. I thought that was interesting.