>What is your trading system, please?
Made a lot of profit in the past on a system that has started to deteriorate for a prolonged period of time, so I've stopped trading the system and keeping most of those profits instead of letting it all go down the drain.
I'm in transition currently and trading smaller but quite profitably, mostly based on fundamentals, o/b o/s conditions, COT positioning, readings at fxstreet.com, Iris and Currencia's thread, etc etc. You know, a ton of stuff. You gotta be smart to file what you read as "smart money talking" and do it, and "dumb money talking" and go opposite. The damn banks are notorious for being dumb money, I think they're making your profits by saying something then the twats do the opposite. Every day some idiot bank rep comes on Bloomberg and says end of year expect Euro at 1.30. So I feel it should be 1.15, because they want you to buy so their rich asses can sell and make your cash.
Everything you read is great as long as you know how to figure out whether it's smart or dumb money talking.
>Care to comment on which pair of systems you'd side with, and why?
Currently, I think Mick may end up taking profits as the Euro and Gbp are too strong and way o/b. There is bound to be a correction. The COT (commitment of traders) the "smart money" are extremely long the USD, and it seems the majority are claiming Euro goes north from 1.26 to 1.30, and majority usually means dumb money. So I feel USD should start gaining.
I've been short at 1.26 with orders to short 2650 and 27 if it reaches those levels. Everyone and their wife is buying expecting the Eur to reach 1.30 then 1.50 everyone expects it to start flying without wings, so it's time to sell. It's a known fact that 99% of traders lose money, and it seems most traders (dumb money) are going long based on my readings, expecting miracles to happen and new highs to be achieved, so it's time to short.
Just my opinion.
Akshay