Currency Trading (Nov 20th - Nov 24th)

[a_gnome]

Here's a video of the news trade in USD/CAD:

http://www.forexdiamonds.com/felixv...lSalesXAutos/112106_CADRetailSalesXAutos.html

Facinating! Do you subscribe to this news trading service and if so then how well does it actually work in practice?

From what I can gather from the video this Felix chap is trading with OandA which I am somewhat surprised at given the large spreads that they have around news releases.

Also what is the software that issues the "Buy" analysis? I presume that he's set the trigger levels in advance and it is simply reading the headline figure off the new feed. Does he have the whole thing automated so that it actually makes the trade?

I'd be very interested to hear more about your experiences with this service.

 

[a_gnome]

The trend is still up, isn't it? Why fight the trend?

Wise words, mate!

 

[Baruch]

Facinating! Do you subscribe to this news trading service and if so then how well does it actually work in practice?

From what I can gather from the video this Felix chap is trading with OandA which I am somewhat surprised at given the large spreads that they have around news releases.

Also what is the software that issues the "Buy" analysis? I presume that he's set the trigger levels in advance and it is simply reading the headline figure off the new feed. Does he have the whole thing automated so that it actually makes the trade?

I'd be very interested to hear more about your experiences with this service.

1. I only subscribe to his free newsletter:
http://www.forex*******s.com/index_copy(1).html
2. Yes, I suppose he use Reuters or Bloomberg or both.
3. Yes.

PS. Here is a video from Dustin about the same news trade:
http://forexmastermaker.com/vid/cad_retail_sales_/112106.html

 

[Baruch]

Wise words, mate!

Yes, but it took me some time and money to learn that in this hostile trading world we only got one good friend: the trend.

 

[Priceman]

Yes, but it took me some time and money to learn that in this hostile trading world we only got one good friend: the trend.

This cable trend ain't nobodys friend, bite you up and spit you out it will ! Waiting for next signal now, why is it that whenever I am able to trade there's never a clean 100pip move ?

 

[Baruch]

This cable trend ain't nobodys friend, bite you up and spit you out it will ! Waiting for next signal now, why is it that whenever I am able to trade there's never a clean 100pip move ?

Well, Cable is up 250 pips since Friday, and more than 50 pips since the BB signal this morning.

 

[Priceman]

Well, Cable is up 250 pips since Friday, and more than 50 pips since the BB signal this morning.

You make it sound sssoooo easy mate, you must be a real pro

Seriously though I find it really difficult to leave positions open without being able to watch the screen and with the job that's just not possible! My plan is to eek out 10-20 each day while doing the job and when I can take time off see how it goes for a whole day. I have developed a good strat with good (getting better anyway) discipline so am on the road IMO.

Now come on cable give me some pips!

 

[a_gnome]

Once again we approach 1.91. Maybe this time...

 

[Baruch]

You make it sound sssoooo easy mate, you must be a real pro

Seriously though I find it really difficult to leave positions open without being able to watch the screen and with the job that's just not possible! My plan is to eek out 10-20 each day while doing the job and when I can take time off see how it goes for a whole day. I have developed a good strat with good (getting better anyway) discipline so am on the road IMO.

Now come on cable give me some pips!

It's very easy. If you look at the charts, you always know what you should have done.

PS. But BB is the best daytrading method I know. If any has a better, I could like to know about it.

 

[Offshore Trader]

I agree Baruch. The version I use has needed a little patience the last few days as I have been stopped out a few times but when you are having a bad time, discipline is important because if you know the system works then in the long term it will make money. Has been a frustrating week, again this morning with the spike down stopping me after the figures.

 

[jacinto]

short 90 20 pip stop, playing fibs.

 

[jacinto]

short 90 20 pip stop, playing fibs.

er, that didnt work

that is called trading an opinion. should know better

 

[Baruch]

Well, I normally consider the Asian range to finish at 8 so it has broken already and is around 30 points and getting bigger as I write. Disappointing so far that I have bought Cable on Monday and Tuesday and managed to lose money. Better day today hopefully

I suppose the Asian range finish at 7.00 GMT.

 

[Offshore Trader]

I suppose the Asian range finish at 7.00 GMT.

I think you are technically correct. What I really mean is that I use 8 to determine the range from which I trade breakouts

 

[edu]

I´m looking at weekly charts here... it looks like we´re finally breaking out of this year´s ranges. Hope it really breaks, and we get some good volatility back to the market.

Are you guys gonna be around tomorrow, or take the day off? I see some brokers will shut down at 13:00GMT. I´ll be around at least for the Europe/London session.

 

[Offshore Trader]

Tomorrow I'm going to close up at noon. Friday may be really quiet as well

 

[Offshore Trader]

Taken 1/2 position profit at +100. 1/2 with s/l at +70 although I did take a 30 point hit this morning after the BOE report. Have now recouped the losses of Monday and Tuesday which just shows if a system works you've got to stick with it through thick and thin.

 

[ChowClown]

This (OT's post) is a disciplined Trader in action. I had a loose bolt (now tightened) in my trading plan, which meant I missed this afternoon's action. Discipline and cast iron rules absolutely essential for long term success.

 

[zuke]

I am short from 9163, stop at 9213 and Targets 9093 and 8963

 

[neil]

This is a disciplined Trader in action. I had a loose bolt (now tightened) in my trading plan, which meant I missed this afternoon's action. Discipline and cast iron rules absolutely essential for long term success.

Funny day. Into trade on break(long) of overnight Asian range then kicked out then back in again (long)