Guru trade

Discussion in 'Forex' started by Tsing Tao, Jun 24, 2011.

  1. Tsing Tao

    Tsing Tao

    No, I am not the Guru. But Taylor is, and I like some of his trades. I'm going to place this one for a November timeline initially.

    EUR/SGD Short from 1.7610. Stop above 1.81. Target 1.40.
  2. Tsing Tao

    Tsing Tao

    Just broke significant support @ 1.74. Trade setup is looking nice.
  3. Tsing Tao

    Tsing Tao

    Last quote, 1.71.

    Stop moved to break even. Trade is up 610 pips.
  4. Why not take a profit ? Just curious...
  5. Tsing Tao

    Tsing Tao

    Because the target is much lower (1.40), and the trade time frame is much longer (November).

    I believe the trade has more room to go.
  6. Tsing Tao

    Tsing Tao

    Though time frame has expired, I've let this trade run. It is still open at last quote of 1.64. I am, however, debating on taking profit very soon. Stop is moved to 1.70, and the trade is up about 1200 pips.
  7. let 'er run.

    when it gets to zero buy 'em all.

    the broker also needs your negative carry $.........:)

  8. Tsing Tao

    Tsing Tao

    The negative carry is insignificant to the profit of the position, and getting lower as ECB lowers rates.
  9. Tsing Tao

    Tsing Tao

    Currently @ 1.63, trade is up over 1300 pips. The next down leg looks ready to occur, though there is a slight chance an overall risk off scenario could bring down asian currencies a bit. I am ready to take profit if this occurs, as the stop loss has been moved to 1.65, which is 1100 pips locked in profit.

    The trade has taken longer than I had thought, but this is due to an underestimation at just how how long this laughable EU situation is taking to resolve.
  10. How long have you stay in this trade ?
    #10     Feb 6, 2012