Thread: Closed: Discuss EUR/USD News with a DailyFX Analyst

Originally Posted by Sean Hyman

It's your attitude...it stinks and it comes through on the forums.

OMG this is getting worse.

In my opinion MoneyInc has shared some valuable information and I choose to recognise that.

I for one, am willing to allow him to be himself however that may be, or, be perceived. We all have that choice and yet whether it is elected rather than choosing for an opinion that would undermine someone doing his best like the rest of us to trade successfully, is of course that of the individual.

I am most surprised and astonished at some of the choices made here today.

EUR/NZD is diving...

EUR/CAD also breaking down once again...general euro selling once again...

Originally Posted by ngi000

Hi everyone,

Thought that I will try to change the topic from this small argument that has been ensuing in the last few posts by asking you all a question.

Now, I don't trade this pair, but the reason for this is because all of my savings are in Euro, and naturally I would be inclined to buy it, and then end up losing money with it.

Well, I have about had it with the Euro and am going to exchange all of my Euro to Dollars pretty soon. The thing is, when would be the best time to do it? I know, I would like to have done it a couple of months ago, but since I can only do it from tomorrow on, I was wondering whether I should run to the bank tomorrow morning in the hope of catching the highest possible position before the Euro slides even further, or should I wait for a minor rally to a little over 1,20, which could come by the end of this week? Or was this spike the Swiss made over 1,20 the highest it is going to get? Is it going down, down, down now?

And I know that it is hard to tell, but please share your educated opinions, and I will try to make the best possible decision tomorrow morning after I wake up...

Good night from Bulgaria for now, and have a great remainder of the day trading!

you may find the rate you get at the bank is quite different to what you see on marketscope. When I travelled to Europe recently from UK I couldn't even get parity at the exchange desk, even though I knew the rate at the time was about 86p.

My Father used to say to Me, Kid, You don't know S--T from Shine-ola. That used to mean something to Me as I knew What Shinola was. I said it to My grandson the other Day. He replied, Of couse I don't. What the heck is Shine-ola?
I've only been trading a little over a Year, and I've learned to stop trying to outsmart the market. I just don't have the Smarts for it. As a Beginner I had the idea that there was something called 'Smartmoney" out there and they were trying to outsmart Me. I wound up outsmarting Myself.
Since I started taking positions with the Trend only, You probably wouldn't believe the amount of money I've made, and I won't tell You either.
In parting, I will say this, This is easy Money if You don't complicate it.

Happy Trading, and I mean the Happy part.

P.S. Shine-ola was Brown Shoe Polish! LOL

Originally Posted by surreyhills

you may find the rate you get at the bank is quite different to what you see on marketscope. When I travelled to Europe recently from UK I couldn't even get parity at the exchange desk, even though I knew the rate at the time was about 86p.

Yeah, the banks make a killer of a spread on those exchanges. It must be a high profit business I would think.

It was the same when I went to Montreal recently from the U.S....it wasn't anywhere close to the spot rate because they made so much over and above the spot price.

Originally Posted by bill2759

My Father used to say to Me, Kid, You don't know S--T from Shine-ola. That used to mean something to Me as I knew What Shinola was. I said it to My grandson the other Day. He replied, Of couse I don't. What the heck is Shinola?
I've only been trading a little over a Year, and I've learned to stop trying to outsmart the market. I just don't have the Smarts for it. As a Beginner I had the idea that there was something called 'Smartmoney" out there and they were trying to outsmart Me. I wound up outsmarting Myself.
Since I started taking positions with the Trend only, You probably wouldn't believe the amout of money I've made, and I won't tell You either.
In parting, I will say this, This is easy Money if You don't complicate it.

Happy Trading, and I mean the Happy part.

P.S. Shine-ola was Brown Shoe Polish! LOL

Great commentary, Bill.

A quick look at the US Dollar Index...it's triangulating up again...see which way it breaks. I'd prefer to see a break higher since that's in line with the trend's direction but let's wait and see what the market tells us.

Originally Posted by Sean Hyman

Yeah, the banks make a killer of a spread on those exchanges. It must be a high profit business I would think.

It was the same when I went to Montreal recently from the U.S....it wasn't anywhere close to the spot rate because they made so much over and above the spot price.

Yes, I am aware that there will be a wider spread, in fact, I have negotiated with the bank's currencies dealer to give me a bit tighter spread.

Anyways, this is the best that I can get right now. But my question was something more along the lines of whether I should carry out this operation right away tomorrow morning, or whether I should be waiting for some kind of a small rally, or is that not to come be seen before we see some further sliding? I was hoping that I could collect some educated opinions on whether I should act now or not and then form my opinion tomorrow morning, of course, accepting all responsibility for my actions (to wait or to act right away).

Thank you in advance!

darn Colly got me turn on to this 1 min. chart just closed out 1 mini sort for anothere $7.00 an some change .pretty much useing wave & his RSI & FIBS

Originally Posted by Sean Hyman

Tom and I are here to drop a few nuggets here and there of stuff that we've learned from 19-20 years of trading financial markets.

You still haven't gotten the basic principles down, yet you lack the wisdom to realize that.

Novices like yourself fall into one of two categories...the ones that realize that they are fairly newer to this market and they remain teachable....

and then there's the ones that are new but like to act like they are knowledgeable.

what can one say Sean YOU the MAN. see you later buddy

i know the market is never wrong i have no problem with the continuation but my emotions say this has got to be close.

Originally Posted by nopainnogain

darn Colly got me turn on to this 1 min. chart just closed out 1 mini sort for anothere $7.00 an some change .pretty much useing wave & his RSI & FIBS

Hey thats great NPNG

Now listen.... so I gather that you have been trading on a demo and that one you just reported was your 2nd trade live. Or something like that at least.

Keep your feet on the ground.

Try to observe the safest of Money Management ( I think Mr Sean has some information on that ).

Seek opportunities first from your longer term charts, and then, look for the opportunities that exist within those longer term ones for shorter ones too.

In my experience, unless you are either very clever, very lucky, or have at least one Madam B plus Ball then trading minute charts is about 50/50.

I wish you every success NPNG

Colly
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Originally Posted by Colly

OMG this is getting worse.

In my opinion MoneyInc has shared some valuable information and I choose to recognise that.

I for one, am willing to allow him to be himself however that may be, or, be perceived. We all have that choice and yet whether it is elected rather than choosing for an opinion that would undermine someone doing his best like the rest of us to trade successfully, is of course that of the individual.

I am most surprised and astonished at some of the choices made here today.

Colly
I apologize to you and Money, and anyone else that can manage their money and position themselves for profits in both market directions. I apologize for the critical responses you maybe receiving because of your flexibility in different market conditions. But this environment has been this way since I joined the eur forum. I'd often wondered why everyone could not see this type of bias that is favored over acceptance of different viewpoints. Any case, please don't be swayed from contributing your ideas. You have plenty of folk that need your understanding of market movement. For example, their are 7-10 folk that post EW counts, but only 4 are worthy of communication, even among EW users. You Colly are one of the approachable techs that can communicate your view with clarity. Try not to lose your cool. Their is simply a 'club' or 'clique' that's been here for however long, it's really not hard to tell who the members are?

A-Yo Bro

really never been lucky always had to struggle & not complaining. dont mine never bought a l;ottery ticket .so i dont need instant money . i think its EW & FIB. when things line up it is amazing & to see it on a minute chart ,kind of freaks you out. thanks guys