No, thats the bad way of trading, EU always swing up and down so why hold it? Follow the flow short it when it tops and long it dip. Simple

I mean have a couples of longs combine with a total of >500pips. Plus another 2 more remaining EU longs having >600pips still floating. As said I looking for EU shorts @ 49xx.

Regarding GU, it should be coming back down.

I only trade EU, but right now I do have one carry trade NJ long holding with >250pips, + collecting roll interest. It is a good deal as it pays interest handsomely everyday.

This post has been edited by billytong: Feb 22 2008, 12:14 PM

oohh.. i thought u were swing that so longggg...

Euro 485x top, I closed one of the 2 remaining EU longs banking another >300++pips + euro roll interest for holding since CNY.

Left one long open which was Longed from 4469. Time to look for a short.

bro.. kful in shortin... its in 3rd valley...



mind tellin me y?

hopefully today is up day wit high volume ^.^

there shud b another buyin point early next month...

dude I dont really care about what 3rd valley etc. The last thing is never long @ all time high levels. I will be shorting euro. the europe will screw themselves if the euro keep going up like this, all their economic is slow down. ECB have to cut interest soon. Hence No euro long for now.

Last long profit taken bank another 350pips. Euro short time.

I am not buying GU. The best stradegy is to wait short the GU, BOE just vote 8-1 to cut interest rate, long GU is nuts.

Sifu Billy,

Mind sharing with me your strategy? Are you based on fundamental or technical analysis? From the posts, I gather you are a position trader. What is your Stop Loss point?

Thank you.

Bloomberg just said that US stock markets are in red, and speculates that recession might be around Jun, or there would be a reversal. Also, there might be a rate cut by march. But for the time being, seeing from the charts..it seems to go short on EU. Will the relatively strong euro PMI index makes EU go bullish?

Gj go up till 211.12 30 minutes ago...

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Added on February 23, 2008, 5:04 amnot mine though...belong to a friend of mine...





This post has been edited by Oly: Feb 23 2008, 05:04 AM

wow! 4 lot....big capital huh....

Dont call me sifu lah. Everyone is sharing his knowledge here. I'm just sharing what I think in my mind.

I'm base on fundamentals, no technicals. I dont play stop loss. None of my positions have stop loss because I dont want to get stop hunted. Before I enter a position, I already calculated the possibility of winning, then I have a plan to cover my drawdown if the market go against me. When the market turn back up, I just close my position for breakeven or with minor profit.

Yes you are right, giving with the price level, no one on Earth will long high up here, unless the guy has burn his mind. The Europe have their growth problem too. Things have not surface, something like b4 US subprime,everyone was thinking US was doing good, but when the sub prime issue surface, things change. Unless their CPI go hot like from current 3.2% to 4% otherwise their growth problem is more important to them than inflation.

I pretty sure the Europe growth problem will surface this year. ECB will have to cut rates at least 1-2 times to cool things down. A 25bps cut from ECB have much larger impact than Fed cutting 50bps, after they holding rates for so long now & giving the value of Euro is soo overvalue. It will drop very fast, may be to 1.40-1.43 in short period.

This post has been edited by billytong: Feb 23 2008, 09:52 AM

hi to all buddies, noobie needs helps for opinion

am going uk in may, worry the pound will go back to RM7/gbp

shall i buy pound now or it will not make differences?

i'm not an investor but just wanna save some money

he got around 290 usd...using 1:500 leverage...

from what i heard...after election all will be the same as before...

This post has been edited by Oly: Feb 24 2008, 03:54 AM

everyone busy aaa?...come come post ur profit...

any forecast about GJ?

Brother Billy,

Doesn't it contravene the law of all traders when you don't place SL. (unless yr account is huge!) There may just be 1 big loss from a bad call to wipe out all your gains....

Can you share why you don't place SL. Very difficult for me to swallow...

Thanks.

i think thats the answer lo...how he calculated it..that was his skill...

Try to think again does Warren Buffet use stop loss? He has that in his mind. I do have a stop, but this stop is place in my mind, so the broker will not stop hunt me.

Have you heard of one thing. Whenever you place a stop loss the market seems like to hit ur stop loss then turn around?

I always heard traders complain about their stop loss keep getting hit. The usual practice for a normal trader is they normally place stop loss for limited loss then they dont place a take profit for unlimited profit, which to me it turn out that they keep having their stop loss get hit.

As long as you practice good/risk money management, the market will not kill your acc.

haizz... my connection dead d.. thats y cant online... KANASAI MAXIS WIRELESS BROADBAND!!!!


uhuhuh... GU actin like wat i wanted now jus breakeven but at least got earn abit from swappin




IMHO, i belief there r big players dat actually noe where is ur stop loss n TP n etc... dats y most of d time, i consider cut loss after d market close for that day...

This post has been edited by low yat 82: Feb 26 2008, 10:34 PM

Exactly, this is why U always see the market likes to go slightly more than those popular stop loss place. May be ur Fibo lines, etc.

I only cut my loss when I think the euro will not be going there for at least a few months or more. Well by the time I reach to such decision I already earn more than my drawdown by jumping in and out from the market, so it is not really consider a total loss.

This post has been edited by billytong: Feb 26 2008, 10:53 PM

wow, EU today smash through the all-time high. pity i exit my long 3 days ago. but fortunately i didnt short at the supposed resistance.

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Added on February 27, 2008, 3:30 pmanyone good in elliot wave here? i 'guess' this move up from 1.4440 is the 3rd wave. pretty strong.

This post has been edited by woopypooky: Feb 27 2008, 03:33 PM

today GU has hit d TP of dat chart pattern... anyway, im still holdin... waitin for sign of weakness..

ab EU, i dunno much ab EW... but from my observation n research by others.. 2nd /3rd valley is vry strong... moreover EU d last most low didnt act touch lower trendline.. GJ also show d same thing but not as strong as EU.. but shud b a good buy also...