[TW] 2012-9-24 Short EUR/USD by mynameisfez


Entry Point: 1.3000

Stop Loss: 1.3200

Profit Target/s: 1.2450

Reward-to-risk Ratio: 2.75:1
Risk percentage: 1%

Trade rationale: I think that risk aversion would dominate market sentiment in the coming week and weigh down on the euro.

200 pip sl with 1 % risk? That’s leverage a half to 1. $0.05 per pip per $1000 account balance. Not worth the effort.
Plus if we get a higher high than 1.3172, you whole idea is not valid anymore and we will see much higher than 1.32.
Actually any close above 1.3085 invalids your trade.

And your trade rationale:[B] I think that risk aversion would dominate the market[/B], would you care to explain why?
Any fundamental reason for that?

And a 550 pip target, nothing rationale in that. At least not for 1 week.

[B]If you can explain why you think EU will go down, sl should not be more than 90 or 95 pips.
(Still way too much for me). It would be better to wait for a rally and enter @ 1.3050
And target, what about something that is reasonable, like 1.2760?[/B]

If we reach 1.2450 it is gonna take weeks, and with many bounces in between.

How do you know its going to take weeks and how many bounces it will have in between? I would like to know that system so that I can scalp those bounces.

Probably bounce @ 1.2860/1.2820/1.2760/1.2680/1.2640/1.2500 just to name a few

I am totally agree with KillerWhale…! Fundamental is very important for the future of a trend and you cant miss out!!!

Also the SL is not tight especially in a periode of time where there is no clear diraction of the trend. A daily close higher than 1,3100 it is possible to push the pair higher at 1,3143 and after that 1,3200. On the other hand a daily close below of 1.2902 it will push the pair lower at 1,2786 (both Fib retracements). This only the technical analisys.

BUT this week we ll have a higher volatility as we have announcements with high importance from both US and EU.
Furthermore you should keep in mind the psychological resistance. A mix of a move higher than 1,3150 and good resalds from EU will push the pair at 1,3200 sharply! A break of 1,3200 will make the uptrend move clear and we will have a far target of 1,3500 max(?) (with some bounces). The oposite for the other way…

But for first time this week we saw that maybe we will have a reversal here to the pair, but I think that fundamental analysis is the most important right now!

So my suggestion is to wait and see which way fits not to you but at the trend…!

PS: I know that it is difficult to wait for the correct setup but it is the correct position!

Nice post as your first. Welcome to babypips.

I actually tend to short myself at rallies, but on my own realistic conditions mentioned in my first post.
It is interesting that even after I deemed the whole trade idea from the OP invalid, people just keep voting for this trade that will never make it in reality.

But since most retail traders lose money, I’m really not surprised.

OK, so maybe it is time to go long… :wink: You never now… :slight_smile:

I wouldn’t say that, I’m profitable for more than 4 years now.
I maybe called a newbie here, but on ForexFactory I have almost 9000 forum postings and a membership since July 2007.
I started trading in early 2005.

it was a joke, but nevermind. iam also trader for 2 years

Of course I wish you luck.

I need to find a way to let babypips know that this contest is a disaster for every new trader.

Where are you from? I mean what country?

I really can’t believe that traders keep voting for this losing trade.

But as usual lately, the winner of this game is the biggest loser in Forex.

I think that BabyPips should create a platform for WINNING Trades. Not for losers like I experience every week now.

Maybe I’ll stop contributing to this sucking game, until BabyPips change all the parameters.

What I would like to see is a real trade with merit that could actually happen next week. Not a super foolish thing like this one. Obviously entered by a newbie who has no idea of trading and where to go.

[B]That’s a very good idea.[/B] If you don’t like the way babypips is running the show, please leave.

Frankly I’m getting tired of week after week hearing you yelling for a rules change.

I would be very happy to see you [B]“stop contributing to this sucking game”[/B]. :slight_smile:

I’m sorry to see you can’t handle the truth Mr. Superior Master.
I would love to see your Superior Master Trading Results.