May the forex be with you...

why is there such a wide margin on the buy/sell for gbp/yen ?? its between 5-6 pips 

FELLAS

I running out not taking my laptop with me but i should be back home by 4pm or so....

bailed on nzd/usd made $30 on it.  went in on usd/chf short also. nzd will probably get to 71.60 but its relative strength is 24 on the 4hr chart. i'd rather be on a top then trying to push through a bottom here. 

walls looks like you got ur limit hit on gbp/jpy congrats 

To answer your question I have no idea why the spreads are so heavy on that pair..makes no sense to me and is part of the reason I am with the broker I am..even though it costs .5 pips to do a trade the spread on the Lb.Yen is usually less than 2 pips..

Buck,''
Im on half lots  $5/Pip. 

still pretty good though

Looks like you guys have been doing pretty good, any new methods?

Bobby,

Looking good.....

Up 200 pips and rolling.

Hey Wall/guys,

Man, I am still waiting for my horse to cross the finish line! 

2910 Come on baby, come on girl.

bobby,

I think you get it tonight..

I still think it goes to 1.25..and if they rally it again I will go short too.

damn looks like we'll be averaging soon if this pair doesnt start its decline soon. 

Yeah shes now 100 pips above my trend line..wait to see if dollar index fails at 8375 first...if it breaks we will see 85..

buck you gonna average @ -100 pips or wait a lil longer to see where the open of usm takes us ?? 

Touchdown!

Wall, if it's 1.25-bound, we need to make sure that 2900 is tested first. My bias is, of course, that it's still due south but this support level is pretty strong dating back to August 2003, (so is 1.2500 btw).

Here's my trading strategy for my 2500 short:

1. Wait til a daily candle opens and closes above below 2900.
2. Wait for a pullback, consolidation around 2900, and ultimately a rejection/bounce. I'll know it's a bounce if I see a series of up days followed by a down day and then an upday. The close of that upday will be my entry.

Rest is history, ride her all the way to 2510.

added 2 lots @ 11095 shoulda just waited 10 minutes it spiked up 20 pips from there.  my average still sucks on this. gonna have to wait to see what usm brings before doing anything else.  dollar index is right @ 8375 level currently

nice hit on the eur bobby. how many pips and lots was that for you ?

bobby,

Piece of cake right?

That was nearly 300 pips, huge trade on that pair and I agree on the strategy..

The more I look the more it seems it goes even lower than 1.25..

Im thinking of shorting the eur here to protect my usd/chf trade. it seems the dollar is just gonna strengthen from here

The USM is going down today so the USD will go up and the risk trade is off..

Can the USM go down two days in a row for more than 10 points a session?

EU just caved, the AU is going under .90 today..interesting stuff.

Oh and Moody's gives Portugal the notice about rating downgrade.

If/when Portugal and Spain get downgraded, the EU will keep sinking, plus who here thinks that Greece is good to go? I dont..

theres no doubt the usm is gonna be down atleast 100pts today. my SMN stock should have another big up day so im happy to be getting my teeth kicked in on this pair. 

would it be a smart move to go short the eur here 1/2 my position that im short usd/chf ?? it seems like it would protect me here.when i  close the eur shor,  average in on usd/chf ? 

it looks like i'll be looking to average around 11204-11239 on this usd/chf pair. us dollar index is @ 84.20 ish currenlty. SMN up 5% 

I dont know about the correlation between the EU and the CHF..if anything the CHF is stronger so your short there would be less painful, but I dont consider myself a correlative hedging sort of guy.

Prediction...

They close the markets green today.

Lets see if my pessimism regarding manipulation comes to fruition.

So predictable..

They buy up the futures to stop the selling, we were down more than 100 when I posted my prediction and now they are green, all in under two hours.

Now they will probably ramp it up the next few days over 11k and erase the 250 we were down yesterday.

I am shocked at how transparent the whole thing is..