Forex Day Trader's Thread

Certainly a lively beast tonight, really confusing what to make of it all.

Any US people know much about MGM Mirage? I'm considering shorting them based on something fundamental.
 
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whats up masquerade, one traders opinion....i definitely would not short mgm right now... this is actually a stock that i trade from time to and keep an eye on... can be verrry volatile... and i dont like playing it on the short side at all. if u do i would use a really tight stop... this thing has a tendency to double over the course of a few days. im interested to know what fundamentals youre looking at though if u care to discuss.
 
If you remember this: http://online.wsj.com/article/SB123811086468552891.html

They took a huge gamble on this building and it's really big and the casino is tiny. It's so risky building a hotel without a casino and i've been getting reports that it's pretty dead there. Vegas isn't having a good time at the moment and the last thing they need is another huge hotel and accommodation & I don't think MGM are going to get their money back from that project. That location will not post profits for a long time and it's going to drag MGM down over the long run. It's not a short-term trade but something longer term. Only problem is finding a good place for it.
 
Masquerade said:
If you remember this: http://online.wsj.com/article/SB123811086468552891.html

They took a huge gamble on this building and it's really big and the casino is tiny. It's so risky building a hotel without a casino and i've been getting reports that it's pretty dead there. Vegas isn't having a good time at the moment and the last thing they need is another huge hotel and accommodation & I don't think MGM are going to get their money back from that project. That location will not post profits for a long time and it's going to drag MGM down over the long run. It's not a short-term trade but something longer term. Only problem is finding a good place for it.
Click to expand...

valid points... ill still let u take that trade on your own haha. you'll look like a genius if it works though.

what the hell is this euro up to? anyone care to comment? can interpret this price action in a few different ways.
 
I'll see - could end up sitting in a loss for a while. I'd rather get in pre trading statement/annual reports if I knew when they were.

Had a funny day. I'd entered usd/jpy on sunday with a stop at 91.70 and had 2 positions and eventually got stopped out this morning. It was bouncing 1 pip above my stop and taunting me. I got long on cable & eur/usd and held it up to the daily top to get me just even on the week. A bit frustrating. Think i'll stick to what I know best and usd/cad is looking "interesting".
 
This should be an interesting half-hour for the Euro

I have a long at 4590 and a short at 4550 (which almost got triggered while writing)

Hope for Pippy's sake that I'm going short
 
Took 71 pips on the first move

In on the second from 1.4512. Will be watching the week's trendline for a break
 
Closed second Euro flat. Looking to get short on UJ soon as it approaches the upper trendline
 
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I am a Russian trader :)
 
Think he got a bit bored of this place and vendors posting their trades and people messing this up so he started a thread on a different forum. I can pass on the link privately I guess.
 
I am looking into a new trading indicator called tradingmarkets.com
has anyone of you tried their signals on stocks. eft, options, futures, etc. Please let me know it will help in decision making
Thanks
 
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