Recent content by marketbreaker

Thanks for the tip nine, happy trading!

Got stopped out of USD/JPY at breakeven. Should probably stop for a break.

Got 2 positions on the dollar ... long USD/JPY and long USD/CHF Should be able to ride a little on this one. We'll see how these go.

Stopped out for -15 pips.

EUR/CHF again ... probably another opportunity to enter this one. Went long again, let's see how this one goes. Stop loss at 1.6637, mental take profit is 1.6667 but may go higher? :eek:

It's really interesting how patience pays off in trading ... I was actually intending to go short CHF/JPY, but things have started to change a little and appears to be going the other way. Let's see how it unravels in a couple of hours (if I'm not out for dinner!).

Hello nine Looking at my chart again, it really did not break recent highs using MetaTrader's charts. However, what triggered my fingers to click the buy button was what I saw in my FXCM charts - a 5m opening above the recent highs. Ah well, we can't get them all. :frown:

I don't know but we may be seeing some offers at 1.1800 levels so I'm putting in a 15pip trailing stop on my position and look to re-enter if I'm stopped out (probably around the 1.1745-50 levels). At least I got some pips in the bucket now.

Watching CHF/JPY and waiting for 4H to close below the SMA. Might be a good short, but on an exposure basis I will be very short the Swiss Franc considering I am already long USD/CHF. We'll see :confused:

Captain Currency did mention that this strategy works best for EUR/USD and GBP/USD. I pulled out the bloomberg and did some simple correlation in excel on historical 4H, 1H and 5M data on the G7s. It seems that this strategy may also work well with USD/CHF and USD/CAD (highest negative...

Captain, I think Nine meant "below". SMAs below price, means price above SMA :) I'm not sure if I should avoid trading during Asian hours, as there may still be some good trades to be taken. What I should have done was avoid the transition hours. Here's the original trade with the original...

Entered with stop at 1.1718. Take profit is left open.

Hello nine I think in Captain's strategy, he did not mention having the SMAs be in the up (for long) or down (for short) direction, or angle. However, he did mention that for long positions to be taken, price has to be above the 60EMAs on 4H, 1H and 5M time frames. Crosses on the 5M time frame...

Watching USD/CHF now ... waiting for the 4h to actually close above the MA before taking an entry. We may be able to get a bid at 1.1720, but let's see.

Hello Captain Thanks for the advice I appreciate it. I should probably have avoided the Tokyo drift (transition to London) when trading these breakouts. Regards M