I never thought the big guys were about to liquidate. They can afford to wait out most storms, I'm sure. You and I, however, are not so lucky - and therefore we use stop losses, etc. to protect ourselves. Re the Euro, they're now talking about a TV poll saying the Dutch show a 60% rejection belief on the vote there. Couple that will the Fed (as I've been saying since the 1.30 range) and it's still down, down, down. Friday's NFP might jostle something, but if it's a good number, we might be listening to the fat lady sing before long. -Ivan
Sheesh...just made a boat load shorting all the way down. Chirac appointed De Villepin and the EUR just tanked. He should have done that at 1.36 to fix the EUR. I think I'm out. This is the point where Greed whispers "You can get even more - short again!" But Common Sense goes: "Take a look where we're at. Think smart." Common Sense wins this battle.
Very good, Ivan! On the money I had "exposed to market" (exposed to margin) trading short, I earned just shy of 65% in the slide since the market opened this week. My last short, still open, was under 1.2315. It'll probably haunt me now for the next 8 months as the euro climbs to 1.40.
Against better judgement, I shorted the EUR bounce today and was glad I did. Just closed it at 1.2280 for about 50 pips. This is fun, but getting increasingly dangerous.
Ivan, this is SO dangerous... My shorts -- ho man, I earned 100% profit on money exposed to margin so far this week short-trading EUR/USD. the best trading probably I've ever done. BUT... MY LONGS....... I am thinking... is this bitch going to .75 cents??? will the world need to come in and rescue europe???? like they did last time? I don't think my long account can handle a 4000-point hit. you know what that means? bye-bye, Sammyboy!
I mean, my shorts can handle a 1000-tic ride back up, no problemo. this new system I got is smokin'. it's just that, I don't have it kicked in on my longs yet.... *whew* I'd be glad if I could get my euro longs cleared out. oh well. why do you think they call it "currency trading."
I know it's dangerous, but I re-shorted again even after that. It's just too easy, I know I'm going to get burnt but tight stops will prevent me from losing more than a fraction of what I made. Currently short @ 1.2279. Will hold out until the Dutch No is final.
oh blank... when is THAT going to be?? last short 1.2234. current market: 1.2250 (and climbing fast).