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

EUR

Discuss EUR in this thread
 
Ignore
Posted Anonymously
14 years ago
Jan 27, 2011 17:34
subs..in neutral now..very even..just a few lots away from long $...
where is the lowest retrace level euro before any chop 3400?
Ignore
Posted Anonymously
14 years ago
Jan 27, 2011 17:29
correct, first consideration 'how much am I willing to risk'
and 'make it stick' otherwise it becomes floating crapshoot..
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Jan 27, 2011 17:25
I remember scalding Ashraf on the usdchf hitting his stop position and he ignored it and pretended it never happened :-) He reckoned a coupla pips should be ignored but a stop is a stop imo. I then learnt that his stops are soft stops subject to discretion at the time. Personally I prefer to use hard stops.
Ignore
Posted Anonymously
14 years ago
Jan 27, 2011 17:15
Letisha: right..don't sweat it..use the stops, bring to BE early, but
you need longer time frame to let trade breath, of course..you sound like good experienced trader, maybe need more capital..for some room to grow..

You see my trade now has captured risk down to low range with the 'hedge'
no stops, will either add to the pair that gains some momentum or reduce the neg side..nbank the positive side...allow neg to retrace back to profit..

pair trading very low risk, can get all the pips on dips and rallies..

don't mean to be preachy..

DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Jan 27, 2011 17:09
Ignore, gotcha on usdchf (for monitoring)
Letisha
St. Catherine, Jamaica
Posts: 156
14 years ago
Jan 27, 2011 17:03
@ Ignore.....I'm flat on the EURUSD now...I covered my position on that H1 move...will re-enter if a better buying opportunity pops up.....was in USDCHF earlier @ 94319 set mt SL 10 pips below the previous day's low...seem like they hunt my stop as I was stopped out a measle pip and then price reverses....bummer!!!!!!!!!!!!! I just didn't want to risk not trading with a SL...that's what I do in the days...but since I was off to bed I force myself to put one in place....just my luck!!!
Ignore
Posted Anonymously
14 years ago
Jan 27, 2011 16:49
OK sub.....can't believe fxj, y, 8ball, and the rest haven't found us yet..kinda weird and sfish has been looking, cuz I saw it in fxnews chat line..but didn't post and give location to pumpkin, (for ahraf's sake) :)
I imagine fxj has made some big cash on this..should I email him?

Letisha, did you get the roses I sent out earlier today? let me know your size posis, if you don't mind..

Trade:
I am closing 3/4 of my long euro now @3690............ bought usd/chf 9454 both sides even size...

first rum on the way
headin to sanibel island fl tonight

dave check 4 hr model usd/chf





Shane
Lahore, Pakistan
Posts: 209
14 years ago
Jan 27, 2011 16:42
@catnip nice man i wish you good luck for this time aswell. As far as i know the markets they play on our greed and with the passage of time i have started a contrary approach my guess is market will break this 1.780 resistance however may not touch 1.40 or may make a false break at 1.41 . I am following the same technique on GBp as i dont believe in H&S pattern to be effectively controling the market but it is there so people can go short on it so that it can be taken down with a false break and analysts will justify that there was no daily or weekly close above 1.6060 so the pattern remains there and most of us who will heavily short at 1.6060 will end up frustrated watching GBp touch 1.61 or 1.62 and than fall like a stone .
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Jan 27, 2011 16:02
200 dma coming in inbetween the 2 levels at c.4033 and falling.
DaveO
N.Cornwall, UK
Posts: 5733
14 years ago
Jan 27, 2011 16:00
I haven't applied Ignor's model to this one but might do that. My initial target is the symmetry from the move up to 3550 taken from the next low at 3347. Beyond the 100% sym level I have the 127.2% ext at 1.4145 but gettin ahead with that one yet. Nearly always get a reaction at least at the 100% sym level so I always take some off there and sometimes take all off. Ok, now the darned mkt will trash by falling shy of the level :-)