Giving the long dollar trade another try

[Mr. Now]

[ QUOTE ]

Quote:
Not stupid, yet definitely not long-term +EV.


This sentence caught my eye. Are you saying the commissions were too great long term, or are you saying it was definitely long term +EV to take the other side of his bet? Did you?


[/ QUOTE ]

OK, I choose to spill the beans here.

No. Mr. Now actually lost a *hitload of money "telling the market what to do" in 1Q2000. I shorted the living crap out of QQQ all the way up, and was forced to cover due to large and mounting losses as QQQ went parabolic.

I later watched the QQQ crater in the magnificent way. Because of the psychological damage, I simply stood there-- stood aside-- and watched.

I consider that experience to be tuition.

And worth every penny paid.

[tippy]

I'm out with 150 pips on 5 lots = 750 pips profit.

There is probably some more profit to be had, but I expected this trade to take a couple of weeks to reach this point, not a couple of days.

Looking for a spot to get in long the EURO in the 1.44 range.

[Mr. Now]

Is 750 pips the monster move you are looking for?

[DOTTT]

He already said 150 pips is considered a huge move for him, traders do trade in different time frames you know.