My (NEXT) EUR/USD Short Trade

Discussion in 'Forex Trading' started by sKaLpZ, May 13, 2005.

  1. My last EUR/USD short trade took me 8 months to close.

    I'm bringing a new trading concept to the forex in which, according to sources, over 12 million people trade currencies.

    And that number is supposedly set to expload.

    I presume this includes all government central banks, all institutional trading including every bank, mutual fund and hedge fund that can access the Interbank in every nation across the board.

    I feel I've progressed as a student of the market. I would say "humble student" but somehow "humble" doesn't go together with "currency trader." Especially one that teaches currency trading for free.

    Maybe I'm a little sleep-deprived (probably got less than 20-hours this week). Maybe this... concept... of mine for a trading system came about because I have not been locked up in an insane asylum... yet.

    Anyway, while I'm... still loose... I challenge the globe to try to beat me in the open forex market on this trade. Time duration could be months.

    This is a simple open challenge limited to trading against my new system in the forex.

    Yes, I have a name for it. No, it is not KABIR though the trade structure contains components of it.

    I won't reveal the name unless I lose this trade because the market was faster than me.

    I'm... pretty certain this trading system is the best there is.

    Probably not the "Holy Grail" but it's superior enough to beat everyone in the world.

    I'm not boasting, that's just a fact (at least in my mind).

    As always, unless Baron bans me, I will give out certain numbers of my trade with updates so those interested can keep track.

    The results of this trade will be as follows:

    Win.
    Lose.
    Or Draw.

    If I am successful at navigating the Forex and managing the entire trade from open (today) to close, the profit target is well over 50% of my entire account balance.

    If you're trading the forex, you're potentially my zero-sum opponents, so I'm not sure how well I should wish you, but I'm sure we'll have a lot of fun.

    Good luck, everyone (and believe me... you're really going to need it :D).

    Trade pair: EUR/USD.
    Trade direction: Short.
    Current Average Price: 1.2629
    TP: 500-points.
    Trade Status: Live.

    The Coin
     
  2. "Immerse yourself in something deeply and with heartfelt intensity -- continually improve, never give up -- this is fulfillment, this is success." - Dean Karnazes


    Trade pair: EUR/USD.
    Trade direction: Short.
    New Average Price: 1.2602
    TP: 500-points.
    Trade Status: Live.
    Current Market: 1.2627

    The Coin
     
  3. Trade pair: EUR/USD.
    Trade direction: LONG.
    New Average Price: 1.26271
    TP: 500-points.
    Trade Status: Live.
    Current Market: 1.26231

    The Profit$ man!

    See you in hell coinz! :D
     
  4. I plan to average down around 1.25-1.23 I hope not, but i won't be worried if it goes down to that.

    Will pyramid up very quickly once a new trend as kicked in.

    Should have enough money in december to buy some great gifts! :p
     
  5. Yeah i'm in at 2X leverage. Have PLENTY of room left!
     
  6. was short since 1.2680

    live
     
  7. Now at 1.26443

    Means nothing but 1.25815 looked like a new floor.
     
  8. Friday Update

    I should actually be sleeping now.

    Instead I'm here to post an update.

    You know what? I know my TP was 500-pips but with this big tank the market had at the end, I took a CHUNK of profit, closed out at 1.2562 and got flat.

    Whew...

    The trade is still going... I'm just sidelined with cash. Taking no position is taking a position, as they say.

    So, for the weekend the trade is flat.

    Plus I'm gunna think over some possible modifications to my new system: Maybe re-wire a little to make it better.

    As Paul Volcker said, "the circumstances seem to me as dangerous and intractable."

    Not sure what he meant by "intractable" but the danger part is easy to see.

    The whole trading the forex market deal is "dangerous," nothing new there.

    Maybe it's more dangerous, though, during this time than at other times...?

    Trade pair: EUR/USD.
    Trade direction: Short.
    Current Average Price: Flat
    TP: 500-points.
    Trade Status: Live.

    sKaLpZ
     
  9. Sunday Update

    On Friday's update I wrote:

    "Plus I'm gunna think over some possible modifications to my new system: Maybe re-wire a little to make it better."

    On a walk/run this weekend at the ocean I did think over things and came up with the modification needed.

    :D

    So, based on the modification, I opened the trade again. Here's the stats.

    Trade pair: EUR/USD.
    Trade direction: Short.
    Current Average Price: 1.2549
    TP: 500-points.
    Trade Status: Live.

    sKaLpZ
     
  10. "It's hard for a fixed system to keep up with.. broken rythm."
    - Bruce Lee

    Still riding, as long as it doesn't drop too much my trade is good.

    USD was pretty strong last month, everything that rise up must stop and reverse.

    GBP dropped far too much. Look for bounce.
    JPY looks like it will make a lower-high, although this one is hard to tell.
    EUR prefectly hit my 66% fibonnacci retracement. I'll call that strong support.
    Oil looks like it will make higher-low too. Can't drop too much below 48$, i can't believe it. Another rise in oil price possible, meaning another crash in USD.

    You seem good to sell the bottom coinz :D Just one thing, i prefer taking a small position instead of no position at all. Always stay in the market.
     
    #10     May 23, 2005