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

Guess it is not unreasonable to expect it to run back up by 50-60 pips, no?

you may call it scalping but 'investment' hasn't fetched desired results these days.

On my Hourly I see this being a consistent downtrend over the last couple of days, ive been selling the rallies. Also been setting sell limits when i go to bed because that's when the euro seems to be at its highest. Every morning i have gotten up it has worked its way back down to profit. Someone else check out the hourly and tell me they see the same thing!

1.199? Bring it on. Now go back to 1.15!

70 pips in five min, I will take that. Just where does it think it is going? Lets try once more at 1.199!

Watching EUR sit at 1.3400 makes me sleepy. At least CAD gave some thriller.

Originally Posted by DollarBull

1.199? Bring it on. Now go back to 1.15!

jumped right in on that loonie short. however i got out after 50 pips because im a little scared of shorting skyrocketing currencies after i shorted Eur/aud at 1.92 seconds before it was at 2.1 lol, if it goes back up ill short it again

Originally Posted by Bignatx

jumped right in on that loonie short. however i got out after 50 pips because im a little scared of shorting skyrocketing currencies after i shorted Eur/aud at 1.92 seconds before it was at 2.1 lol, if it goes back up ill short it again

EURAUD was a freak show. Things don't always happen like that. Also, if you use stoploss you wouldn't worry about losing sleep!

I think CAD is doing a mea culpa for 0.9020. It may try the stunt again. I am eagerly waiting!

Originally Posted by DollarBull

EURAUD was a freak show. Things don't always happen like that. Also, if you use stoploss you wouldn't worry about losing sleep!

I think CAD is doing a mea culpa for 0.9020. It may try the stunt again. I am eagerly waiting!

STOP LOSSES ARE FOR SISSIES! No seriously I use them 99 percent of the time, for some reason i didn't wanna do a stop loss on that because, well,.... im an idiot i guess! Honestly i think it was because i had been doing so well I got a little greedy and wanted it all! ha ha.

Oil is crazy low and this downward slope continues, I see the Eur continuing this downward slope..

I believe the lows are in for the Euro. Long 2 lots at 1.3456. SL at 1.3340. TP TBD.

After reading your posts on STOPS, I want to mention what I have been doing, and ask if anyone else is doing it, and if not, why. I have to say that so far it has worked for me.

I am not talking about scalping.

Instead of placing a stop, I put in a reverse order for the same amount right where I would have placed the stop. So far it has worked out for me, since it gives me a second chance, if not the potential to make even more.

Please someone tell me if I am missing something here.

PS. Of course I follow the reverse order really tight with a stop, and then let it hit.

Originally Posted by carthage

I believe the lows are in for the Euro. Long 2 lots at 1.3456. SL at 1.3340. TP TBD.

really? what makes you think that?

Originally Posted by rickos69

After reading your posts on STOPS, I want to mention what I have been doing, and ask if anyone else is doing it, and if not, why. I have to say that so far it has worked for me.

I am not talking about scalping.

Instead of placing a stop, I put in a reverse order for the same amount right where I would have placed the stop. So far it has worked out for me, since it gives me a second chance, if not the potential to make even more.

Please someone tell me if I am missing something here.

PS. Of course I follow the reverse order really tight with a stop, and then let it hit.

I do that occasionally and it has worked here and there but the day it comes right back and touches your order and shoot s back up where you wanted your order is negated and you may have 2 negative orders n at that point. Granted i have only been doing this for about 8 or 9 months so I dont fully understand everything yet. It seems like it could profitable but perhaps extra dangerous tying you into definite losses

Originally Posted by Bignatx

I do that occasionally and it has worked here and there but the day it comes right back and touches your order and shoot s back up where you wanted your order is negated and you may have 2 negative orders n at that point. Granted i have only been doing this for about 8 or 9 months so I dont fully understand everything yet. It seems like it could profitable but perhaps extra dangerous tying you into definite losses

exactly what i was about to say. it does work nicely except for the fact that it only works once.

on a side note,
i have placed a short order at 1.34808 with a sl at 1.35097. target set at 1.33989. trailing stop of 20 pips. following the slight trend down for now to see if i can gain a few pips.

Carthage, why do you expect the euro/usd to rise?

Originally Posted by rickos69

Instead of placing a stop, I put in a reverse order for the same amount right where I would have placed the stop. So far it has worked out for me, since it gives me a second chance, if not the potential to make even more.

Please someone tell me if I am missing something here.

PS. Of course I follow the reverse order really tight with a stop, and then let it hit.

Well, I have had my aah handed to me so many times when I didn't use stoploss, now I am a superSISSY!

All orders (stop/limit) etc become Market orders at the trigger price, so, there isn't much difference in the way they are executed... (or miss execution).

You idea of reversing a position works if you have truly made a mistake in the first time about the direction of the price movement. Generally we don't make that mistake... we are all very smart... we are able to locate the trend. We simply violate it and try to bottomfish!

Gonna go short at 1.35 for some pips, i still feel like this is on a downward trend, or at least that's what i get off the hourly chart. If ti doesnt make 1.350 then no worries looks to be reversing around that area, again this is just what i m getting off the hourly

edit: Thinkin more like 1.3515

Double edit: Ill be watching this closely with a tight stop. Im iffy!

Originally Posted by DollarBull

Well, I have had my aah handed to me so many times when I didn't use stoploss, now I am a superSISSY!

All orders (stop/limit) etc become Market orders at the trigger price, so, there isn't much difference in the way they are executed... (or miss execution).

You idea of reversing a position works if you have truly made a mistake in the first time about the direction of the price movement. Generally we don't make that mistake... we are all very smart... we are able to locate the trend. We simply violate it and try to bottomfish!

Speak for yourself.

ok got stopped out but re-entered a short at .34925...