Hello everyone,
I am considering my options about EUR/USD about ways to trade next week. Guys in CNBC think that it’ll probably bounce back, but seriously, with all the random folks elected and the chart suggesting a bearish trend on daily chart, I seriously doubt that there will be any kind of serious long opportunities. What I plan to do is sell the rallies on this pair. Any suggestion?
Thanks!
Wllen1
So if these people on CNBC are always right why isn’t everyone listening to them more…
Ask if everyone knows how this blind fool is intending on operating and he’s leading hundreds to thousands… I hope not millions follow them at lets say even an average of 1 lot per person, not all at the same place but lets say their staggered but all in the same direction.
You realize this business is about screwing other people over right? ESPECIALLY these kinds of people.
Imagine your a bank, just A bank not all banks, you see these idiots placing their orders at 1.2980-1.3040 long with a stop at the previous low of 1.2980 or lower. Imagine how much are you willing to absorb losses against you before you realize this is going to **** the bed or go in your favour? Actually I made a mistake I remember them mentioning like 100-150 pips in an average of 1 standard lot, you really think the average person that’s not the talking head will want to absorb that 150 pip loss / $1500 on the low side? How many people you know with 100/500/1000/10000+ accounts willing to absorb a potential $1500 loss if they even could on the non 6 digit figure?
I think a standard bank lot is 1000 lots of our lots, citation needed, however that’s what I was told and they own the game, they can see your trades and they are probably the ones taking the other side you really think that this one person outsmarted them and that they’d let you get away with their money especially I think her target was like 3 or 4 to 1 R:R. If they think price will go to 1.3600 it will… eventually… but when and how long are you willing to sit in a 99 or 149 pip losing trading which you may lose out on anyways?
Point and case, don’t follow the village idiot with a microphone. Also look up their track records, see what their sharpe is, see what their PF is, see what kind of accuracy they pump out. Seriously do your own research and if you have the time research how to trade forex because if you are going to just follow these people I’m pretty sure plenty of people can guarantee you that we thank you for the random liquidity in the market that lets us get better positions.
Thank you for your detailed answer!
From what I understand from your reply, I resume that in the sceptism one must have when listening CNBC right?
The fact is, if I didn’t doubt their prediction on EUR/USD I wouldn’t post this thread.
Now lets go back to EUR/USD. I believe that the pair will at least have a heavily bearish biased, and I should only sell the rallies, as Euro seems far too fragile to long.
Please leave your helpful comments!
Wllen1
If that’s your interpretation and you can make money from it sure, but I am forewarning you now because this site isn’t what it used to be and it has degraded far below public and civil standards.
A lot of factors need to come in play as well imo. For instance the T-bonds cannot go any lower, comms must feel like unloading some more positions, that sort of stuff
When you said that it has been downgraded below public standards, do you mean CNBC? What happened?
I mean this site… its littered with people who don’t actually trade but establish themselves as the contrarian’s when they are just looking to troll.
Well I guess I won’t be closing my short anytime soon.
Tansen is right, thankfully admins are shutting them down more quickly.
CNBC in a sense represent the ‘crowd’ - it has been shown that the crowd are often wrong.
FXCM run a ssi indicator which tells which side retails are on, one of their strats is to fade that - again retails are the crowd.
I’ve learned - to my cost - not to listen to anyone, if he/she comes accross as a know all often means that nothing is known.
(know what they say about empty vessels and noise).