Well no-one can 'know' but the probability is that Eur/Usd will come off, you need to pick your levels to short though, no point in holding a 300 pip loss if you don't need to. 1.4860 up to 1.4960 seem like reasonable levels to scale into a short, or the better positional trade would be long Usd/Chf as it's marginally yield positive, the two pairs are closely correlated. Whatever you trade you should never trade it without a protective stop and sensible money management. Risk is just about the only thing we have any control over in trading.
Ah right, so he's probably just keeping a low profile until the trades eventually come good. Just keeping track of his trades..... 02-20-08 04:50 PM sell gbp/usd (1.9415 area) -476 sell eur /usd (1.4673 area) -505 sell eur/gbp (0.7555 area) -75 .....although he's probably added to the trades as they've gone against him ("average down,let's make money") so it's anyone's guess how much the unrealized losses are right now. Scary stuff!
Can people like this and their followers PLEASE get away from forex???!!! And all those schmucks that flock to the "Better Trading Free Seminar" scams, too. Please go back to stocks. I don't trade forex. I need you back into stocks, then MY retirement will be assured!
I could'nt resist making a mild attempt at some humour, well it made me laugh anyway. 'when in trouble double' Any newbies following this thread by the way Please do not take this statement literally. You need your plan and that includes stops. EVERYTHING needs to be known in advance.
I know who this is!!! It's Spirit from Bull n Bear Anal-lictus. Hey dude how are ya? http://www.youtube.com/watch?v=jvTpVgdCpxQ