Please advise intraweek for eur/usd

[FXInvestor]

hi guys,

As you can judge, I am new here. I have few short positions worth few lots staked at eur/usd, sold in the range of 1.2674 - 1.2693

I have been holding these in a hope eur/usd will fall down in near future. Any sincere advise shall be appreciated from the bottom of my heart.

Thanks a ton in advance

[FXInvestor]

in a hope eur/usd will fall down in near future

the future of past is today's present and it looks pretty nice. If going keeps good I hope I shall be able to cover the losses of my past.

[weissdawg]

Short EurUsd looks good for both long-term and short-term. Get the hell out of it though if 1.2800 is broken. Long-term minimum target is 1.0900 area. If things go as planned you may want to take some profits off around 1.2100, as there is a good chance of a decent sized bounce there.

[FXInvestor]

well here goes my strategy, I plan to carry on with short positions, I'll just keep closing on stop loss every 40-50 pips and just keep doubling my stake and I have reserves if eur/usd goes another 200 pips up.
It might sound kinda tedious n rudimentary to pro traders here, but I hope to stay here like this, any further advise shall be deeply appreciated

[Summerset]

Originally Posted by FXInvestor

well here goes my strategy, I plan to carry on with short positions, ..................I have reserves if eur/usd goes another 200 pips up.
It might sound kinda tedious n rudimentary to pro traders here, but I hope to stay here like this, any further advise shall be deeply appreciated

I am curious, as to how much is yr current short position, as a percentage of yr account. I believe this is key to the situation. Also the leverage allowed by yr broker

[FXInvestor]

actually I have multiple FX a/c, for eg won't allow me to trade for more than 1 lot, being new there, while I have more than enough balance there to wait for another 1 - 4 - 8+ weeks, I am going to wait n watch until it brings right returns. In another 2 accounts the situation is under control or pretty good while I have lost one account coz of poor money management. I used it like a retarded. I also used a very basic strategy which worked quite well today, you might want to take a look

http://www.moneytec.com/forums/f59/t...calping-21324/

[Summerset]

Originally Posted by FXInvestor

actually I have multiple FX a/c, for eg won't allow me to trade for more than 1 lot, being new there, while I have more than enough balance there to wait for another 1 - 4 - 8+ weeks, I am going to wait n watch until it brings right returns. In another 2 accounts the situation is under control or pretty good while I have lost one account coz of poor money management. I used it like a retarded. I also used a very basic strategy which worked quite well today, you might want to take a look

http://www.moneytec.com/forums/f59/t...calping-21324/

That strategy is perfect if U are on the right side of the trend. Longterm its used by Du triot (Dr.Forex). But only when he is in the trend's direction.

If the trend turns on you, you would have to double or even trebble yr position, in order to average higher overall, and be able to close at b/e tommorrow or the day after at a pre-calculated daily pivot value.

U may even have to dump part of the short position to average out on a pre-calculated pivot.

What determines this is the current size of yr position (in percentage) related to yr overall account. This is very important to know & calculate now, if you stand a fair chance of getting out at b/e tommorrow or day after on retractions. As Eurodollar may not be meeting 2690 values anytime soon.