Forex trading live calls and set ups

I am thinking of closing this thread (Beachtrader voted a No)


  • Total voters
    29
  • Poll closed .
I think your analysis is good. It's the slow bleed thats been killing us lately. Also with lower volatility the s/r areas become stronger...which is good...but also closer together, so profit targets have less reward compared to the risk.

Peter
 
Just saw this on ForexLive:

---------------
Finance ministers from the G7 nations will hold an informal meeting this week and the Japanese FinMin Noda has already stated that FX may well be on the agenda.

The so-called “currency wars” have been getting an increasing amount of air time in recent days and this will make it much more difficult for the BOJ to justify any more unilateral intervention to its other major counterparts.

The fact that they didn’t enter the market yesterday when they had the chance after the monetary easing tells me that they are nervous about upsetting the US in particular. The market will surely test the BOJ resolve at 82.85 before the day is out.
---------------

The BOJ intervention has been, in part, a factor for my trades of USDJPY and its what has caused the current support levels. Absent this and I have to adjust or stay away from this currency for a bit. We'll see. If 82.85 support is tested and holds overnight then a new trade scenario will develop.

I'm getting too long-winded since trades are few and far between!

Peter
 
im still short eur/jpy
im slightly ahead for the week,so a good downward run this morn will make me a happy little bunny
 
this is why,not the best line,but lets see
 

Attachments

  • snapshot-459.png
    snapshot-459.png
    31.3 KB · Views: 111
I've traded NFP a few times, got a nasty whip saw last month, but the couple of months before that were one-way tickets...

NFP my method for that play on the dow is thus. Start with a OCO (one cancels other) orders. Start them at 30 points away and gradually start to tighten the noose until you get to 10 points away seconds before lift off. Then let it run for 15 minutes minimum locking in profit with a trailing stop ( i haven't figured the optimal level yet). Its a bit agricultural at times and you may need to place guaranteed orders as SBs tend to gap like mad. Its pretty risky stuff all in all. You have to be pretty quick to make sure you don't get triggered before the data is released hence the 30 point start to warm your mouse hand up :)
 
Top