Forex

Everyone should check out the price quotes at this link for the geppy, what is that all about?
http://www.forex-markets.com/quotes.htm

i have not seen that before.I don't know why the quotes would be off.

Short EurAud until GbpJpy starts to act right.

Ya no kidding please

I have hedged quite aggressively at 199.75

I'm taking a beating with EurAud... This is going to be a rough ride this Sunday.

Stephen,
You made a reference to hedging. OK, here I sit with two lots @ 7725 and two @ .7750, for a net short in the Euro/GBP @ .7738. Now, I open the screen and I see the pair @ .7805. That is a majot multi year 21.7 % fib line. When you refer to a hedge, are you talking about buying longs without limit up, and with stops @ the breakeven points on my existing shorts?

Closed the short at 198.50 (+400 PIPs) and waiting on the sidelines for the next trade...the scalp long is tempting, but given my 'success'

Some amazing price action in early Asia. Bear Stearns sold to JPM ($2/share! ouch!!) and now Fed action again!

I opened a long on the dip after the news hit at 198.50. Near term bottom in at 197.77. First resistance 201.80 then 203-203.50 congestion area.

These spreads are insane! I got out at 199.06. Looks like any euphoria there was is gone with Dow futures from +100 to now -150... Make that VERY NEAR term!

Yes...., that is a classic reverse hedge. If you can dream it you can hedge it. Depending on the circumstances it may be possible to set your hedge and make pips while the market moves against your primary position. This is called working around a core position.

Ideally, a hedge works better when your primary position is already profitable.

good trading there, rahul Hopfully I can do the same by turning things around here with my EurAud trade.