Discussion in 'Forex' started by Tsing Tao, Jan 8, 2013.

  1. Tsing Tao

    Tsing Tao

    Short @ 1.3120 (730 this morning EST)

    Profit point will be around 1.2450 with stop right above 1.3350. As always, this is a longer term trade that may or may not be terminated at the profit line as picture improves (clarity).

  2. cstfx


    Haven't seen you post a call in some time. Hope this thread gets the traction that your last ones did.
  3. Tsing Tao

    Tsing Tao

    Thanks, my friend.
  4. cstfx


    I think the call is a right one but don't think it will get there for a bit. I had a similar view in the fall and wanted to hold it long term but the carry costs were killing me.
  5. Tsing Tao

    Tsing Tao

    We'll see. Current action is a bit alarming, but the stop is there for a reason. If it loses, it loses. If it wins, steak dinner. I've learned to make my trades "fire and forget". Otherwise, my emotion tends to get the better of me.

    If I had to put a timeline on when we see 1.25ish, I'd say mid Feb.
  6. had two shorts at 1.30 i bought back .. against my short position..

    BOT 2 XDE JAN 18 '13 130 Put Option 0.07 USD PHLX 12:17:51 OptTrader 1.84 null

    only short an odd lot 5k.. loooking for a relative lower high then that 1.33 print.
  7. gotta say Tsing Tao, a 230 pips away stop is a Hell of a lot of money to give up before
    closing a losing trade. why so large ?

    I've had a lousy week with no trading
    looking at the 4H this early morning I was thinking the price would make a symmetrical
    base A - B, then had 'that thought' looking at the formation, 'is B going to settle high ?'
    but I Wasn't expecting the exploding price that followed - and I'm still just staring at it !
  8. Stop distance can be related to position size and time frame... if your trading on a longer time frame a stop like that doesn't seem odd to me
  9. Tsing Tao

    Tsing Tao

    I was going to answer Wallace, but this gentlemen summed it up nicely for me. Agree that the move up this morning was not expected, but that is the game we all play. If I'm stopped out, I am stopped out.
  10. seems to me if you look at a six month chart.. its made the last two highs at slighly less strenght.. (RSI) its kind of a on off thing with the dollar Euro.. you get political/debt risk relief coming out of us and the thing goes down.. you get a word out of Euro about taking care of debt it goes up.. i'm not even sure why it went up today.. it seems right now we are fighting the bigger trend..
    #10     Jan 10, 2013