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April forex is for fools addition

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Apr. 3, 2012 - 8:20 PM ET #1

Not sure if ive used that title b4 or not ...

Entered a long in EU/LB..8312 looking for 40 pips..i got a small res line just above my target area i think she'll test it

Anything open fellas?

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Apr. 3, 2012 - 8:35 PM ET #2

Hey..

What do you have on the table buck?

I halved my position then returned to it above 1.33 but we havent been discussing it much lately.

It seems with the FED and the EU pushing the gas petal that the crazy moves have been muted the last few months.

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Apr. 3, 2012 - 10:14 PM ET #3

Just this trade..i been super busy here as of late.im always checking ratesthough just havent had time to devote to forex,made a few trades but running the little ones and the wife going back to school has really messed with my free time

I like the market settled like this seems it takes some of the stress out of it..

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Apr. 3, 2012 - 10:19 PM ET #4

EU/LB has held the small support line just below in the upper 82s since Jan..a breach and close below may turn this into a week + trade but the way they turn these around i should be out b4 Friday

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Apr. 4, 2012 - 1:42 PM ET #5

Well it dropped like a rock...sadly the app for my droid kinda sucks so ill pull some lines on a chart when I get back to da house...

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: Apr. 4, 2012 - 5:20 PM ET #6

You add some to that?

Playing with the EU is risky business, that spanish auction was bad news.

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bucknuts

Captain

Joined: Oct, 2005

Posts: 8951

Posted: Apr. 5, 2012 - 8:54 PM ET #7

I havent added yet Wall..im thinking tomorrows data might push me lower..the 82s are pretty solid looking back on a chart..below this is the .8050s no reason to add just yet with next main support 200 pips away only being down 70 pips...im certainly tempted though

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wallstreetcappers

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Posts: 56778

Posted: Apr. 16, 2012 - 11:13 AM ET #8

So whatcha got buck?

The EU looks like she wants to dunk under 1.30 soon.

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Apr. 19, 2012 - 5:27 PM ET #9

Thinking of adding here...

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wallstreetcappers

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Posts: 56778

Posted: Apr. 19, 2012 - 10:11 PM ET #10

You are long the EU/LB still?

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bucknuts

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Joined: Oct, 2005

Posts: 8951

Posted: Apr. 20, 2012 - 10:13 AM ET #11

Yeah..been on the road for week the last week+ back home now..spent some time on chart yesterday we were right at a level of some good support when I posted last...hoping I don't have to add to this clunker again

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wallstreetcappers

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Posts: 56778

Posted: Apr. 20, 2012 - 11:42 AM ET #12

Currencies are really in a holding pattern, swings seem to have slowed down..maybe we were getting too lucky with all the stock market and economic action and thus the currency action was wild too.

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wallstreetcappers

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Posted: May. 11, 2012 - 3:40 PM ET #13

So buck, whats going on?

I am considering finishing this EU trade now that it is working well for me.

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wallstreetcappers

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Posted: May. 15, 2012 - 11:05 AM ET #14

It is tough not to take some profits at 1.2775, considering doing it.

Been in this trade a long time..big profits but a long time waiting.

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sjewell29

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Joined: Sep, 2007

Posts: 1797

Posted: May. 15, 2012 - 12:32 PM ET #15

Glad to see this thread has some life. Great to see you are making some money too, Wall!!!!!

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: May. 15, 2012 - 2:18 PM ET #16

Quote Originally Posted by sjewell29:

Glad to see this thread has some life. Great to see you are making some money too, Wall!!!!!

Thanks!

I didnt buy/cover yet, I am going to risk it up to 1.2825 as a buy stop.

It might mean I get stopped out on some good news but it also gives me room on the downside and less risk if I step out and the EU goes up a ton.

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rick3117

All-Star

Joined: Mar, 2006

Posts: 14715

Posted: May. 16, 2012 - 6:10 PM ET #17

Still squeezing out a trade short the eur/usd

Like you said wall, big profit but a long time waiting.

This is the longest trade, by far, and the most profitable I have ever been in.

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wallstreetcappers

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Posts: 56778

Posted: May. 16, 2012 - 7:09 PM ET #18

Quote Originally Posted by rick3117:

Still squeezing out a trade short the eur/usd

Like you said wall, big profit but a long time waiting.

This is the longest trade, by far, and the most profitable I have ever been in.

Well had you been whipsawed and talked out of it you would probably be pissed off at this point.

The markets turned very low volatility wise and made for slow trading so this was a much longer duration then I like but being + 1000 pips in the money and it is worth it.

Glad you are hitting it straight here, all political differences aside of course.

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rick3117

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Posts: 14715

Posted: May. 17, 2012 - 8:23 AM ET #19

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wallstreetcappers

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Posts: 56778

Posted: May. 17, 2012 - 11:17 AM ET #20

rick,

I had to take 1.27 today, it had flipped back and forth off it and I think it might be due for a bounce.

What are you doing on it and what was your basis?

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rick3117

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Joined: Mar, 2006

Posts: 14715

Posted: May. 17, 2012 - 7:06 PM ET #21

I think that you are probably right. 1.27 is a good number, I have a stop set at 1.2760, A few pips above this recent resistance level.

I think that fear in the eurozone is much to profitable for way too many people to stop the train now.

I am still waiting for a test of the 1.2623 level that we saw at the beginning of the year, and to see if it will test lower lows. If that level is violated in any meaningful way tonight or tomorrow it will be a tough decision, but will probably close this baby before the weekend. Too stressful. Not used to it, the past few weekends have been pretty nerve wracking.

Definitely have had an itchy trigger finger today. Want to book this massive profit, and start scouting a bottom.

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wallstreetcappers

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Posted: May. 17, 2012 - 10:02 PM ET #22

rick,

btw..I am not reversing and going long here, rather I keep expecting a market bounce and thus the EU bounce..its odd seeing the market down more than one day out of ten.

All that said, this selling is not fear selling, I dont see people throwing in the towel and afraid at all, probably due to the FED putting a floor in before propping the market more.

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wallstreetcappers

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Posted: May. 23, 2012 - 1:04 PM ET #23

still holding rick?

I should have jumped back in over 1.28

Also, still not convinced of this drop, fear indicators are very very low.

Its almost like they are taking it down to get the FED to step in.

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sjewell29

Veteran

Joined: Sep, 2007

Posts: 1797

Posted: May. 23, 2012 - 10:22 PM ET #24

Where would you jump back in a short now?

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wallstreetcappers

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Joined: Feb, 2003

Posts: 56778

Posted: May. 23, 2012 - 10:30 PM ET #25

I thought about 1.28 but I really expected the markets to move more and them to run off with some risk for more than a day.

One thing for sure, a long is not a good idea barring the EU throwing a trillion bucks at Greece and keep them in the union.

I think the downside is below a buck, below par if Greece exists and one of the other weaker members start teetering.

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April forex is for fools addition

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