Stupid Eur/USD Trade

Discussion in 'Forex Trading' started by wep56, Oct 19, 2005.

  1. marky1

    marky1

    Fair enough but the issue then is there should not be something called a stop loss with your broker because as you have found out it isn't a stop loss, it's a stop. That's why it wasn't pulled I guess. It seems like your broker uses the wrong terminology which really screw things up for you. Because that button should say "stop" not "stop loss"
     
    #41     Oct 19, 2005
  2. wep56

    wep56

    Yes, you are absolutely correct. They are using the wrong terminology with the 'stop loss' order. I'm going to call them to find out what their definition of stop loss is and how it relates to their trading platform.
    Thx
     
    #42     Oct 19, 2005
  3. wep56

    wep56

    That's why I'm long this morning at 1.1907. With a 'stop' (haha that's been a dirty word around here this morning) just below 1.1850. I'm not buying into all of this talk about a 1.1500 Euro. Don't really believe the dollar will sustain much higher. But the net capitol inflow data is what was really surprising. I think around 90b. Seems that the Europeans are intent on supporting our trade and account deficits.
    Anyway, a solid break below 1.1850 might change my opinion.
     
    #43     Oct 19, 2005
  4. I think Ur right...but even if does go up...
    1.2100 would most likely be the highest...then it might stay east for a good month...for the next drop to 1.15...maybe even 1.10
     
    #44     Oct 19, 2005
  5. might do this for next week...with 50 pip stop and 15 trail pt 45 pips for Cable
    10/19/2005 17:00 1.7634 1.7379
    10/20/2005 17:00 1.7634 1.7378
    10/21/2005 17:00 1.7633 1.7377
    10/23/2005 17:00 1.7631 1.7376
    10/24/2005 17:00 1.7632 1.7376
    10/25/2005 17:00 1.7633 1.7377
    10/26/2005 17:00 1.7634 1.7378
    10/27/2005 17:00 1.7635 1.7379
    10/28/2005 17:00 1.7637 1.7381
    10/29/2005 17:00 1.7639 1.7383

    and GBP/JPY
    with a 45 piP STOP AND 30 Trail
    Target 100 pips

    10/19/2005 17:00 203.8307 201.4492
    10/20/2005 17:00 203.8253 201.4438
    10/21/2005 17:00 203.8296 201.4480
    10/22/2005 17:00 203.8337 201.4521
    10/24/2005 17:00 203.8446 201.4629
    10/25/2005 17:00 203.8440 201.4623
    10/26/2005 17:00 203.8400 201.4584
     
    #45     Oct 19, 2005
  6. wep56

    wep56

    Yeah, I'm thinking in near term and looking at 1.2100 as a top. Good place to go short no doubt. Until the FOMC release in a couple of weeks, I think the range 1.1850-1.2120 will hold. Without any major news event, there is nothing to drive the market to either side. So for now, I'm looking for profit taking in the USD to be a factor.
    Are those your trading ranges for cable next week??
     
    #46     Oct 19, 2005
  7. Yes wep..they are...U think they OK?

    Usually I PT with 1/3 the range as max

    these are EurCAD...seems time is soon to long this pair
    GL..
    KaL.. :)

    10/19/2005 17:00 1.4174 1.3963
    10/20/2005 17:00 1.4174 1.3964
    10/21/2005 17:00 1.4174 1.3964
    10/22/2005 17:00 1.4173 1.3962
    10/23/2005 17:00 1.4172 1.3962
    10/24/2005 17:00 1.4172 1.3962
    10/25/2005 17:00 1.4174 1.3963
    10/26/2005 17:00 1.4174 1.3963
    10/27/2005 17:00 1.4175 1.3964
    10/28/2005 17:00 1.4176 1.3966
    10/29/2005 17:00 1.4178 1.3968
     
    #47     Oct 19, 2005
  8. wep56

    wep56

    Yeah Kalz, I think that your cable projections are just as legitimate as anyone elses. But I think that 1.7700 is possible.
    Today cable is straight up for the past 8 hours. Dragging the Euro right along with it. Very impressive and making my counter move in the Euro look good.
    The hammer that formed on yesterdays daily (cable) turned into a powerfull move. Hope that you are catching some of it.
     
    #48     Oct 19, 2005
  9. Thanks web...this is Hourly for euro
    the right most Index is what I think as the trend
    if U like , U copy onto excel and chart...
    The index is like "follow me" while using the ranges...
    I think euro has one more drop...small into the next two days IMHO...but U this stuff is hard to come up with.. LOL

    TIA and GL
    KaL
    10/19/2005 11:00 1.2006 1.1961 100.01%
    10/19/2005 12:00 1.2006 1.1961 100.01%
    10/19/2005 13:00 1.2006 1.1961 100.01%
    10/19/2005 14:00 1.2006 1.1961 100.01%
    10/19/2005 15:00 1.2006 1.1961 100.01%
    10/19/2005 16:00 1.2006 1.1961 100.01%
    10/19/2005 17:00 1.2006 1.1961 100.01%
    10/19/2005 18:00 1.2006 1.1961 100.01%
    10/19/2005 19:00 1.2006 1.1960 100.01%
    10/19/2005 20:00 1.2006 1.1960 100.01%
    10/19/2005 21:00 1.2006 1.1960 100.01%
    10/19/2005 22:00 1.2005 1.1960 100.01%
    10/19/2005 23:00 1.2005 1.1960 100.00%
    10/20/2005 0:00 1.2005 1.1960 100.00%
    10/20/2005 1:00 1.2005 1.1959 100.00%
    10/20/2005 2:00 1.2004 1.1959 99.99%
    10/20/2005 3:00 1.2004 1.1959 99.99%
    10/20/2005 4:00 1.2004 1.1959 99.99%
    10/20/2005 5:00 1.2004 1.1959 100.00%
    10/20/2005 6:00 1.2004 1.1959 100.00%
    10/20/2005 7:00 1.2004 1.1959 100.00%
    10/20/2005 8:00 1.2004 1.1959 100.00%
    10/20/2005 9:00 1.2005 1.1959 100.00%
    10/20/2005 10:00 1.2005 1.1959 100.00%
    10/20/2005 11:00 1.2005 1.1960 100.00%
    10/20/2005 12:00 1.2005 1.1960 100.00%
     
    #49     Oct 19, 2005
  10. Funny thread. Marky is right, Wep is wrong, period. Uniform rules and terminology apply across all products (futures, FX, equities, etc.). A "stop" is the short-handed slang for "stop-loss". The order remains live unless cancelled. A "stop-limit" must be specified. Your broker doesn't care about your P/L or if it's an actual loss. Unfortunately, we've all had the situation that Wep describes happen to us if we've had any sort of career in this business. Wep should be look within and take measures to protect against that sort of sloppiness rather than looking to blame a broker or third-party. Wep claims to be trading for 12 years but clearly doesn't know the terminology. Congratulations on trading the Big contract. If your representations about your broker are correct, he is a mere newbie as well. Bottom line, "stop" is synonomous with "stop-loss" and is a market order if triggered and unless cancelled in either direction and for any purpose. A "stop-limit" is a limit order if triggered in either direction which may or may not be filled. You cannot place an above market sell or below market buy on a "stop", they are mere "limit" orders. If your broker is taking these as stops, he is either tolerating your lack of industry knowledge or he is mistaken himself.
     
    #50     Oct 19, 2005