Well, I gotta go

Discussion in 'Forex' started by oldtime, Apr 29, 2012.

  1. it's Sunday 17:00 est and for me forex is opening for the week. I'm trading USD, first time for me to trade it exclusively. Everybody gripes about it, but it has been trending really hard on the one hour charts which is about the time frame that suits a small trader like me.

    I'll let you know how it goes.
  2. Good luck. I gotta feeling that tonight's gonna be a good night. That tonight is going to be a good good night. :D
  3. Keep us posted, be sure to make a big pot of coffee/tea/whatever to keep on your toes. :p
  4. im staying on the fence this week till friday 8:27am EST. Then im gonna short euro if its above 1.31-1.3080 area. I think this week euro will just hang around the 1.3170 to 1.3360 range till NFP. Then its gonna do big moves.
  5. well, I gotta go, forex opens here at 17:15 est, just a few minutes away.

    That USD is pretty boring so far.

    I was trading AUD.USD and AUD.JPY then I switched to USD

    now the only thing I made money on was the AUD.USD and I'm still short

    Got stopped out of the USD.JPY trying to buy some more at a better price.

    I'm still short some EUR.USD

    so basically I am just long the dollar.

    Bought a little gold on friday

  6. well, I gotta go, forex starts in 15 minutes. Man, that long USD worked out pretty well, especially against AUD.

    Don't have a clue this week.

    Usually the chop follows the trend.

    My rule of thumb is any good trader should expect to give up 30% of the move.

    So here's to ya all of those that were short. Stay with it and it's my gift to you.

    70 for me, 30 for you, I can go for that.

    Not sure how I will play it this week. Dollar neutral sounds like an account preserving strategy.

    I made my money, now I just want to hold on to it.

    I'll let you young kids figure out how to make it.
  7. Dont forget to look at the negative carry on a short AUDUSD.
  8. no kidding!
  9. I was trading AUD exclusively from the long side for about two or three months. It was great while it was moving up, especially against EUR. But now on the way down I have to deal with the chop and the carry.

    I've been trading forex almost a year now, but I don't get the carry and how to compute it or even for that matter what it is.

    I know at about 10 pm est when they don't cut rates AUD goes sky high.

    I have a lot to learn.
    #10     May 13, 2012