Forex Day Trader's Thread

[Jason Rogers]

Yes, we could. But I don't see any of the structural problems solved. As I said yesterday, we could see S&P 1250 but then we will resume lower.

And what would be interesting is everyone that exited the market at the bottom for safety wake up and realize they've missed out on the rally and then get back in right at a top.

 

[Pippy5000]

It's definitely a bold statement.. if you're wrong and you stake your reputation on it you're screwed because you sucked in millions of retired people to reinbest in the markets and they add to their losses..

 

[Tuky]

I have lowered my buy GBP to 1.6670

 

[RidderTrade]

usd holding up well today..

worst case one more decline for the phase..

but its POSSIBLE that the usd has already bottomed...

SO? what you do..

 

[RidderTrade]

i recommend once again

BUY BUY USD INDEX..

put your stop in at a reasonable loss, CLOSE your trade screen

and come back later in the year

 

[Tuky]

I don't think it will be that kind of correction. We could see EUR 1.39 or so. EUR is well bid today.

 

[RidderTrade]

eur/usd

I don't think it will be that kind of correction. We could see EUR 1.39 or so. EUR is well bid today.[/QUOTE

at 1.39 you will still be profitable, and you can trail at that moment or take profits

 

[Tuky]

You are right. Let me be clear, I'm not bullish on EUR medium term, most of my deposit is already converted to USD, but to establish leveraged position I will wait a bounce (think we'll have one)

 

[RidderTrade]

Could be Tuky, but if there is no bounce, then you would probably be too late and wind up long at higher prices, at this stage a bounce is not anymore required

 

[RidderTrade]

Croatia..

 

[RidderTrade]

but can fall and make a new low usd.. , we will see.

looking at the metals, i would say usd has already bottomed

 

[Pippy5000]

yikes... I almost got stopped out on ninja.. some craziness happening.. was able to dump it for 3 pips..

 

[Tuky]

Great numbers! US is heading toward stampflation (companies laying off workers, postal service employs them and FED prints money).

Long GBP 6695 with tight stop

 

[Pippy5000]

that move in Euro was totally ridiculous..

 

[jgos2]

yup early doors the're buying dollars and the dow.. interesting
that won't hold

 

[Pippy5000]

short ninja 96.9

 

[RidderTrade]

nice

 

[Pippy5000]

short ninja 97.4

 

[Pippy5000]

There is going to be profit taking soon .. I'm trying to time everything right

 

[RidderTrade]

gold Warning

That's why I trade forex. We do not have shorting, and thank god, I exited market in which I have lost only what I earned in the last IPO. And in the case of the above scenario, I have invested half of my money in gold @ 720

I am expecting GOLD to fall