Wednesday, March 20, 2019

Long EUR/USD While Retail Traders Continue Going Short

Quick post today as I have to run out the front door and shake my main money maker, my pest control business.

This is Forex stuff. Part of the reason I'm involved in this market is my aforementioned money maker; thanks to automated orders, Forex can work for me while I'm working something else (or not working at all...).

Anyway, here's my EUR/USD action since March 11th:

This is actually several trades, all entered at the same time, but with different take-profit orders set. I do this to accomplish two things: 1) gradually deleverage my positions and book profits along the way, and 2) take the ultra-arbitrary, discretionary "guess work" out of taking profits (no "analysis paralysis" for me!). The only time I manually exit a position is when the retail trader open position contrarian trend I've been on begins to reverse.

Anyway, as you can see here, retail trader open shorts on EUR/USD were in the majority a few days ago:

 ...and as of this morning, they're even more so:

Meanwhile, EUR/USD continues to climb, as it has since I initiated these trades nine days ago when I noticed retail traders getting shorter.

And that's why I do what I do.


Ellis Ellison said...

Pest control is the process of minimizing or removing a wide range of undesirable insects and other pests from spaces occupied by people. The actual process can take place in the home, in a place of business, or in a public building. Controlling pests normally involves using some type of insecticide to prevent them from entering the space, and to kill any pests that have already established a presence within the space. visit:

Anchor wide said...

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