OMG! First EricB, now Erikkr
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Smart Trader
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no the point of me making Vijay aware i had closed off his basket is so he is aware i am of little importance, so that if someone else posted that was still in the basket they would be helped out in front of me,
i am far from smart, espically when it comes to FX.
as it turns out im now back in the basket with a trade, do i offend less now Erikkr?
edit - an after all the bare fact is i actually just respect Vijay as an experienced trader and value his opinions on FX pairs, yes i asked for his opinion,Last edited by dupapa; 05-13-2014, 08:05 PM.
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Originally posted by SmartTrader View PostHi All
I know the situation is bad, i am constantly looking at the charts and i will try to exit at minimal loss.
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Originally posted by Nick View PostThanks for being on top of it Vijay, however I'm sure people would find it reassuring to find out what your plan is should the pair continue to move down. Is there a point where you will cut the basket?Trade the market, not the trader
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Correct me if I'm wrong Vijay but it seemed like it you last comment that were implying that you intend on "closing this soon". Do you mean the whole basket? Would love to hear some other peoples thoughts on a strategy to trade out of this...I just don't have the experience to offer anything...
Sent from my iPhone using Tapatalk
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Originally posted by Des View PostSmarttrader. Can you close it piecemeal and then hedge the rest. In other words, try to basket out some of the losses instead of a full loss reducing overall losses.
This isn't a devastating drawdown and it's nothing we haven't seen before.
You can't achieve 5-10% returns per month without the occasional drawdown.
Vijay - Only close the trades if you believe it's the best course of action. Not because subscribers are freaking out.
I'm not personally worried until we get out past 20%.
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Well said Nick.
If you look at the daily people, we are sitting around 2.5 standard deviations from the mean (which also comes in around a 50% retracement of this swing) also we are hitting into a reasonable level of demand now. From a technical standpoint, it would not be unreasonable if we can cease the fall here, to expect a retracement to the 1.8 area given time.
Looks like BE is now 1.8 btw with that extra bullet fired in.
Good luck Vijay,
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