Forum > View Topic
by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
1...182418251826182718281829183018311832183318341835183618371838...3077
Sir Ignore
United States
Posts: 3068
13 years ago
Apr 19, 2011 20:45
buck up chloe..or we will cut ur rations
DaveO
UK
Posted Anonymously
13 years ago
Apr 19, 2011 20:35
sorry Chloe, stood aside awhile.

First thing is no way would Ash trade opposite to his calls on direction. He not that kinda guy and this reminds me to welcome the departure of Lloyd Blanfein from GS. Only a rumour at mo but the world can do without his "god's work" with GS. Terrible example by the Superpower to all of mankind.

Ok, rant finished.

You might have missed one of Ashraf's IMT's yesterday talking about crossed currents for the usd, fairly exceptional day. We all get caught out in volatility sometimes and have to bounce back.

You should not be thinking of only trading one direction. The direction of $cad has been down since march 2009 and let's face it, which set of fundamental problems would you rather have, those of USA or those of Canada. No contest imho. Besides, Dr Bernanke is in full control of the DX for the time being and we have to ACCEPT it.

In the move down in stocks autumn 08 I was teaching using the ES (S&P500 futures). We were seeing 10 handle 3 min candles (equivalent to 100 dow points). Those types of conditions require one of two things. You stand aside and watch or you change your strategy to suit. The more volatile a mkt the more potentially dangerous to trade and the larger the losses when they occur.

I think you should look at 2 or 3 of the less volatile pairs like the nzd to create a trading portfolio mix.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 19, 2011 20:01
yeah i agree but im talkn about his most recent calls on dollar stabilizing from the 76.50 to 74.75 levels lol..its hard to beleive he wouldnt change his veiws on dollar decline long ago ..either hes not trading ...lossing lots of money ..or trading opposite to what hes been calling:( lol..any ways too volitile for a newbie like me:) gl/gt:)
Machiavelli
Posts: 113
13 years ago
Apr 19, 2011 19:34
Chloe, Ashraf's been saying that since at least last summer, he's been bullish on the dollar for a long time and hasn't really adjusted his views. You have to take into account his very elastic stop levels too. Independence is irreplaceable.
Machiavelli
Posts: 113
13 years ago
Apr 19, 2011 19:28
Yeah, scalp but this isn't classic scalping. What I do is push the markets off equilibrium then get paid on the way back. Of course this is only possible in low velocity/volume times. Hence the saying, one man's chop is another one's bread and butter. (It's not actually a saying, I just made it up now, but sounds descriptive.) In high velocity markets I just do classic scalps and if it accidentally runs 20 pips, I'm elated.

I also invest the proceeds of trading activity, strictly without leverage and very low risk. That's why I can load up on euro sub-1.20 and sit on it indefinitely.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 19, 2011 19:27
yeah i remember what we talked about with the cad...but im only willing to play once i feel the usdx is bottomed out and has stabilized..ashraf keeps talkn about how usdx has been stabilized or is stabilizizing but to me it looks like it keeps dropping-consolidating..dropping ..consiolidating..droping lol..so im not sure ..any ways hope ur making money but im sure u must find it very trying on the nerves:( lately..gl/gt:)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 19, 2011 19:21
1 question dave have u been able to follow yesterday&todays price action..i hope so:).. but its been very volitile and i don;t really understand how any1 could trade corectly in this enviroment except the big boys:(..i shorted the gbp had profit but had a stop @ b/e which was hit then it continued to fall so missed out on a small bit of profits..then eur was doing good but put a 15pip stop with profits that was hit then it collapsed which i missed out on huge profits lol..i feel its a guessing game at best even with using charts & stops...it seems the big boys know where all the stops are or trailing stops theyhit them then resume trend..such a sham..having pl work hard on there systems only to have big boys come an trade opposite to the way it should trade...any ways i hope u made some great trades yesterday:) gl/gt:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 19, 2011 19:13
You were making your money on $cad before it broke below the long term volume node we discussed. Then all your longs were short lived. Just a reminder :-)
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Apr 19, 2011 19:07
yeah dave been doin some personal soul searching..with what i want to do with my trading and @ the moment im out of everything but thinkn im goin back to my $cad(which made me alot of $$)when the time is correct no use tryn to sell the dollar as that boat as kinda sailed mths ago lol..spring is here and im thinkn its time to start back with training(rd bike)and just watch how things trade for awhile...ok all the best and i;ll chk back with u guys in a bit:) gl/gt:)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Apr 19, 2011 19:05
so Mach, you really only scalp trade your system ?
Report Reply
1...182418251826182718281829183018311832183318341835183618371838...3077