EUR crosses/EUR/USD

Spanish unemployment reminds the market of the downside to the EUR

Pretty horrible unemployment data out of Spain and poor French PMI data has turned the focus onto the downside for the EUR.

This is nothing new but it may give EUR/GBP and EUR/CHF longs something to think about? I’d expect to see heavy stops below 1.3250 in EUR/USD and the market might have a look there later on.

  1. Hi sean.i wanted to know your thoughts on system trading. alot of successful traders that iv read of and known follow a rigid system, with rules, that help them keep emotion out of their trading.
    Now i dont dispute their logic.but doesnt this also stunt genius? in, the art quotient.
    i dont have a system per se, its more a reaction to the conditions and im guessing with time i might improve.
    what is your view on this?. ofcourse i do not mean haphzard trading.but one that is devoid of fixed rules of entry and exit compared to one that is alot more rigid.over a longer period will one have an advantage over the other? ( jesse livermore was as much an artist or a mathematician as a trader)
    i hope i was able to convey that properly.

  2. I couldn’t agree more Rahul, and in fact had exactly this discussion at lunchtime with another dinosaur trader. Some systems work for a while but the really successful traders are those who know how to trade properly, loading up when the picture looks clear and perfect and cutting way back when vision is blurred. There is no perfect entry and exit system, but there is perfect aggressive trading

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