Eu is down, I expect the same tomorrow.

This post has been edited by billytong: Jul 7 2008, 03:36 PM

Banked 200pips on short and long. For EU, I will and having high probability to reshort here 593x-595x or 1.60xx.

no one @ europe region is Good except German, and German economy alone does not mean whole economy of europe.

and there is simply zero reason to long euro above 5850.

Well thats another quick 120pips today. heh. didnt expect to be this quick.

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Added on July 23, 2008, 9:27 amGBP/CHF? I strongly against u to play short position there. Short position charge very expensive roll interest. For GC if really want to play, wait for durian(GC) drop to bottom and grab a long instead. Long pay u huge roll interest. Which even u are -ve u can hold for the entire year and keep collect interest to Break-even out.


This post has been edited by billytong: Jul 23 2008, 09:27 AM

GC u mean? I cant give comments on this pair, I have zero experience on this pair.

As for euro I will be looking for a mini long today. but that gonna see how the euro news play out. Hopefully there is some retracement after the drop yest. May be tomorrow retrace?

Lets not forget about europe region have their economy slows, this USD bull is not cause by US, It is the euro over price. Fundamentally Euro should be 1.4, anything above is speculated.

just like OIL, base on growing demand and supply, oil actually price should be 70-90 bucks. not 140.

This post has been edited by billytong: Jul 23 2008, 05:32 PM

No, I mean the actual price of euro should be 1.4 if u count base on the current fundamental condition, it does not mean it will go 1.4. The current price is speculated price.

the high price of euro is affecting the whole Europe now. (except Germany). Sooner or later they will force to cut interest rate under high inflation. I just dont know how long they will delay this interest rate cut.

Wait for more down side should the euro news today come in more red than expected, and I would think USnews tonight will hold the euro from free falling. But if USD news surprise us in green for the rest of the week. U can see euro touch 1.54.

This is widely expected, most of the time, USD do very badly @ Friday. Holding my longs now.

May be another 50pips? near 5800 if the USD news is red and broken. But it will stick @ near 5750 for a while.

Green news from USD will probably send back down below 5700.

Well it did drop below 5700 as what being said b4. Green USD news is making euro drop below 5700.

Overall I still bearish to Euro.

Yen, well not sure yet but the I do know the Japan is having higher inflation than usual. (It is the same around the world, no big issue). Many yen trade is speculating Yen Rate hike, but I personally think they wont.

yen is weakening all the time. if Stock goes good, it will weaken. Simple as that. One thing I know I hate shorting Yen pairs, I prefer long at bottom, so if I have drawdown I can recover back with roll interest.


As for USD going strong. No I do not think USD is going strong itself. It is the world currency getting slow and drop themselves. High oil price is dragging the whole world economy.

I probably think USA gov might be behind all these oil speculation, it is like they are trying to push their subprime problem to the world. UK also got subprime but they dont cut rates crazily like FED.

EU movement is like "the market want to look how bad euro economy is, + Is the USA economy stop dropping". If u put this two together, it is equal = Euro bearish.

This post has been edited by billytong: Jul 26 2008, 10:38 PM

Rip another 200euros from on some the longs I took last week, now I long another one @ 5692.

May I ask u, are u using all of ur margin?. Overleverage is a good perfect way of killing ur acc.

Dont be greedy.

Took 2 of my longs out, banked another 43 euros. now holding short from 5716.

This post has been edited by billytong: Jul 28 2008, 02:04 PM

Well close a 5757 short for 30pips, just only 1hour for this easy 30pips

Got about RM310+ today.

nope I am not using standard Acc. I am using a very big mini acc. About 5 figure worth of Euros. Standard Acc use 100 leverage, while mini use 200 leverage. it is better to stick with mini.

Yest was purely scalping with small long/shorts in and out many times.

It is not about % of ROI u get per month that u should worry first.

It is about getting into profitable + consistently get +ve winning position that matters most. I can tell u many fx trader have problem with consistency. No point getting ROI 50% this month and lose another 70% next month right?

This post has been edited by billytong: Jul 29 2008, 11:52 AM

Dont play with fire brother, any breakout u gonna cry no matter what. (Happy or sad depending on which side u are at. )

I am holding 1 EU short @ 5747 and reserve my margin for higher short if it break up. I can see the coming news like NFP, German CPI can push this to 58xx zone.


EDIT : hmmm preparing my tissue...I might gonna cry too. (Happy or sad I dont know yet)

This post has been edited by billytong: Jul 29 2008, 01:42 PM

Yes it is my second short, first one is close out for profit this one I gonna hold for a while even if euro break 1.59.

AFAIK, I tot yest is slow enough, today is worst.

This post has been edited by billytong: Jul 29 2008, 01:58 PM

Well that is some profit taken on my short. Good job guys seem everyone is rich here.

Now I am in long mode Over 100pips drop sure got retracement one

Trade @ ur own risk. tsk tsk.

Key support 5578.

This post has been edited by billytong: Jul 29 2008, 11:26 PM