How to trade the EUR now

I really don't understand those of you who are shorting the EUR/USD pair. Every dip, I buy, then I sell after collecting 40 or 50 pips, and then I do it all over again. In the past couple of months I have been raking it in with this very simple strategy.

1. The EUR will not die.
2. The powers that be are propping it up.
3. Buy the dips. Buy the dips. Buy the dips.
4. Collect a little; don't be greedy; sell.
5. Go back to 1.

Achieved a great milestone on Friday. I have recovered all losses since my trading adventure began, and I have withdrawn all of my original deposits. Since my adventure began in February 2011, I am now trading exclusively with profits generated.

<BRAGGING ENDS>

 

I predict it will..........fluctuate.

 

As SimpleTrade said,buy every 40-50 pis down dips for the 40-50 pips gain.And i agree with his current assessment.From the current level it could probably be 1,2990-1,3000

 

ok, let us know when you get filled

 

LOL..i just told you that!dont you wake up yet?

 

I'm short from 2880, and if it ever gets back there I'll unload all I shorted tonight

I already have my limit in

then I'll put in a limit to short some more somewhere up there

if it never gets back there, then it will be what they call a "losing trade." I hear it is not uncommon among professional traders.

 

no, you just said that is where you think it could go, but you never said where your limit to buy is. So I assume you are flat and just talking and have no intention of really trading.

let us know when you get filled

 

and this is the silly thing. Nobody has a problem with buying on a pullback. They all just assume it will turn back up. But if you are already are long, and you buy more on a pullback they call you a gambler and a loser averaging losers.

so I guess buying on a pullback is a sound idea, as long as you are not long.

If you are flat, the pullback is a buying opportunity

If you are long, there are no pullbacks, it will just keep going down to infinity, that's why you should never average down

This kind of logic doesn't come naturally, you have to read trading books to learn it

 

I don't know how you guys thought about all of this on Friday, but my thought process went like this.

Either they will find a resolution this weekend or it will be delayed, but a resolution will be found soon no matter what.

If delayed, EUR/USD will fall a little, so after the fall double up my position. If resolution found EUR/USD will open much higher. Either way, resolution will be found and EUR//USD will rise.

So, I went long at the end of the day on Friday. Initially, today I was losing money, but a resolution was established (in theory), and the EUR/USD jumped higher. I promptly sold ( 48 pips); I bought back in again as it fell a little; I sold again ( 17 pips); Again, 15 pips. Total earned in two hours: 80 pips.

I find the EUR/USD very easy to trade right now. I'll grab the cash as I can. I'm sure the ease will eventually end.

EDIT: Wishing I had not done that last sell. Looks like I've missed a few pips.