My FX Journal - 80% Fundamental 20% Technical

This is a discussion on My FX Journal - 80% Fundamental 20% Technical within the Trading Journals forums, part of the Reception category; Hi FXX, a word of encouragement on your excellent postings. Firstly, I have been using fundamentals far more now to ...

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Old Jun 19, 2018, 10:07pm   #316
 
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Hi FXX, a word of encouragement on your excellent postings. Firstly, I have been using fundamentals far more now to influence my trade decisions and importantly staying in a trade, however I don't really trade the news per se, have had some modest success trading currencies recently which eluded me for the most part previously as I have mainly traded index futures.
From my observations so far, currencies seem to move directly to fundamentals however indices seem to react to correlations which affect underlying eg cable, oil and commodities move the ftse (though of course not exclusively as sentiment will always be influenced by global events and central banks, data etc)
Do you trade just currencies based on your MO? I'd be interested on your views if you would be so kind.
Thank you.
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Old Jun 19, 2018, 11:19pm   #317
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Originally Posted by swissy View Post
Hi FXX, a word of encouragement on your excellent postings. Firstly, I have been using fundamentals far more now to influence my trade decisions and importantly staying in a trade, however I don't really trade the news per se, have had some modest success trading currencies recently which eluded me for the most part previously as I have mainly traded index futures.
From my observations so far, currencies seem to move directly to fundamentals however indices seem to react to correlations which affect underlying eg cable, oil and commodities move the ftse (though of course not exclusively as sentiment will always be influenced by global events and central banks, data etc)
Do you trade just currencies based on your MO? I'd be interested on your views if you would be so kind.
Thank you.
Hey swissy

Thanks for the words of encouragement. I have never thought about trading other markets. Indices are interesting, I work with them daily at an index provider and quite familiar with their formulas and review processes.

For me, having the ability to work my trading around my job using the economic calendar made the fx market the most attractive. On top of this, all I had to do was deeply follow central banks, economic data, politics and geopolitics. All of which I have a keen interest on anyway, and there are only about 8 economies that need following.

I encourage everyone to take any given week with tier 1 economic data and look at the charts on that week. What you will notice isn't mear coincidence.

What questiona do you want to ask me swissy?

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Thanks! The following members like this post: Lee Shepherd
Old Jun 20, 2018, 9:04am   #318
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FXX started this thread Fresh on the wire this morning:

Conflicting ECB communications. Their forward guidance stated last week mentioned hikes around Autumn. Today Villeroy said

"first rate hike could come in Summer 2019"

This is sooner than their guidance. The reaction in the Euro however is softer than expected but has this sunk in yet? Potential dump and pump scenario in the works - ready to take action

Note: Villeroy is generally Dovish

Last edited by FXX; Jun 20, 2018 at 9:12am.
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Old Jun 20, 2018, 10:34am   #319
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FXX started this thread Went Long EURUSD from 1.15476, Stop 1.15353
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Old Jun 20, 2018, 11:20am   #320
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Went Long EURUSD from 1.15476, Stop 1.15353
not liking the price action and lack of momentum - closed for 14 pips
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Old Jun 20, 2018, 2:16pm   #321
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not liking the price action and lack of momentum - closed for 14 pips
looks like price finally followed through on this. Entered long again @1.15859

I know there probably isn't much meat on the bone at this level (i would still be in it if price action wasn't messing around as it has for the last few hours). Looking to get to 1.1617 area if possible

Last edited by FXX; Jun 20, 2018 at 2:23pm.
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Old Jun 20, 2018, 2:40pm   #322
 
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looks like price finally followed through on this. Entered long again @1.15859

I know there probably isn't much meat on the bone at this level (i would still be in it if price action wasn't messing around as it has for the last few hours). Looking to get to 1.1617 area if possible
Hey mate, itís all looking good.

What would have been your result had you of held the original long? Ignoring price action for the moment and any and all other factors.
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Old Jun 20, 2018, 2:54pm   #323
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looks like price finally followed through on this. Entered long again @1.15859

I know there probably isn't much meat on the bone at this level (i would still be in it if price action wasn't messing around as it has for the last few hours). Looking to get to 1.1617 area if possible
okay so no meat left... frustrating day as it should have been a 40 pip winner but lost my nerve with price action then jumped back in at the top for a 10 pip loss making today a glorious 4 pip profit day. Done for the day
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Old Jun 20, 2018, 2:54pm   #324
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news is important in trading ....and i agree that sometimes seeing what a currency or related pair group DOES NOT do in relation to relevant news opens up some serious trading opportunities regarding its behaviour

great stuff
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Old Jun 20, 2018, 2:55pm   #325
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Hey mate, itís all looking good.

What would have been your result had you of held the original long? Ignoring price action for the moment and any and all other factors.
hey Lee, would have been 40 pips if i had held.
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Old Jun 20, 2018, 2:56pm   #326
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okay so no meat left... frustrating day as it should have been a 40 pip winner but lost my nerve with price action then jumped back in at the top for a 10 pip loss making today a glorious 4 pip profit day. Done for the day
usd has been mainly bull today so EU buys were always going to be hard ....agreed its been a difficult morning on G8's ...i only really got a little out of cable buys much much later in morning into lunch from 3170's into 3190's

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Old Jun 20, 2018, 3:04pm   #327
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usd has been mainly bull today so EU buys were always going to be hard ....agreed its been a difficult morning on G8's ...i only really got a little out of cable buys much much later in morning into lunch from 3170's into 3190's

N
It has certainly been a tricky day. Only 1 opportunity for me and i managed to stuff it up in good fashion. I should have stood back seeing price action after that new event although i did call the dump pump outcome - perhaps price action took the market back a bit and set the scene for me to get out (who knows).

I still think the trade policy of exiting if price isn't doing what i want is a good one even though it failed me today.
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Old Jun 20, 2018, 11:14pm   #328
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FXX started this thread I'll be out at a big data event tomorrow so will be looking out for BOE and SNB events on mobile. Been mulling over my day and the believe I made a mistake taking that last trade today. The first one was spot on in my trade plan so taking a small profit was all good. That last trade however needs to be avoided going forward.

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Old Jun 21, 2018, 10:26am   #329
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FXX started this thread Juat catching up on markets as it is difficult to do so at a seminar. What an opportunity today has given and I wasn't able to take advantage of any of it. Italy concerns affecting sentiment and driving the euro lower. Hope some of you have made ching off of it.

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Old Jun 21, 2018, 12:25pm   #330
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FXX started this thread Another beauty I missed, the voting spread for BOE. I might as well write off todays trading but what a whopper. I would have been smiling today after yesterday's outcome.

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