Forex trading live calls and set ups

[DDI]

to me they are the same to trade as everything else

you can trade anything once you have system and you stick to it

movements on the oil market can be a bit wilder so you have to get use to that

again everything is down to the person trading the system and not what they are trading and even the system they use :smart:

agreed. TA theories should apply to any instrument and in any timeframe. But I must say in oil I have encountered spikes that stop me out and then go in my direction.

This is something I dont suffer from that much (the only thing..lol) in my trading. Given that I trade based on breakout/momentum, so if it does hit my stop, it usually confirms the breakout was false or momentum dead.

 

[wackypete2]

move stop to 1.3872

 

[wackypete2]

exit 1.3869 +9

Peter

 

[leopardtrader-com]

short chf/yen 8865 stp 8897

 

[Black Swan]

agreed. TA theories should apply to any instrument and in any timeframe. But I must say in oil I have encountered spikes that stop me out and then go in my direction.
This is something I dont suffer from that much (the only thing..lol) in my trading. Given that I trade based on breakout/momentum, so if it does hit my stop, it usually confirms the breakout was false or momentum dead.

Higher TF, 4hr - daily...Why not treat it differently, as a self managed investment? Btw I've stopped trading it or any other commodity..but for different reasons to the spikes.

 

[vinicius]

not much I can do right now.. Long euro and cable... will be holding for some days..

Trying to get a seat at Sunday million special 5kk!

 

[vinicius]

Higher TF, 4hr - daily...Why not treat it differently, as a self managed investment? Btw I've stopped trading it or any other commodity..but for different reasons to the spikes.

why did you stop trading then?

 

[leopardtrader-com]

Thanks, interesting about CAD. Ed Ponsi wrote in one of his books that the canadian economy was closely tied to commodities.

Right now..it is inverse snp meaning over hang bcos of mideast. Violent reverse to mean could happen once uncertainty comes lower..current range 10280/9260

 

[leopardtrader-com]

filled crude swing short position @10200 stop 10380..but can run if tarde above 10300. to add 10280

 

[bedsit]

was taken out overnight on gbp/nzd for abt 80pips loss after the recession talk by PM. but reinstated at higher level of 22000. This is now in my swing trade acct. I "hope" to earn 500pips from this trade. I took a loss also on aud/eur long per that commentary.
managed my eur/usd and gbp/yen longs by stop adjustments. Still in those trades Not in a hurry to close them for now. Euro gona break swing top towards 14000ish in the nearterm

Hi Leopardtrader.

I was just wondering how you do your stop adjustments. At what time and how many pips?

I'm keen EU trader, so was interested in your EU trade. Can't help not noticing that it went more than 12 pips below your initial stop.

 

[leopardtrader-com]

aud/yen long 8295..st 8280

 

[leopardtrader-com]

Hi Leopardtrader.

I was just wondering how you do your stop adjustments. At what time and how many pips?

I'm keen EU trader, so was interested in your EU trade. Can't help not noticing that it went more than 12 pips below your initial stop.

I adjust stops of some trades that are nearer to my stop level to my swing stop b4 I go to bed. My swing line on eur/usd is 13670 for example. I do this in order to avoid overnight spikes.

 

[bedsit]

I adjust stops of some trades that are nearer to my stop level to my swing stop b4 I go to bed. My swing line on eur/usd is 13670 for example. I do this in order to avoid overnight spikes.

I see - you increased your initial risk of 22 to 107 pips - almost 5 times.
So if you risk 2% per trade with stop adjustment you increase it to 10% per trade?

 

[leopardtrader-com]

I see - you increased your initial risk of 22 to 107 pips - almost 5 times.
So if you risk 2% per trade with stop adjustment you increase it to 10% per trade?

My trade setup is not computed in that manner. It really depends on the instument. My swing setup support breakout of range for the eur/usd.
Your point of higher risk is valid but I needed the space; exposure is not of significant.

If you must carry any trade overnight..you must consider a robust stop otherwise on average you will always be the loser b/cos of spikes in sympathy to other crosses. Eur/usd was resilient yesterday and my eur model is quite strong and usd was weak as well. The drip backwards was due to NZD weakness on commentary.

 

[vinicius]

what if something real bad happens in Asia?

 

[leopardtrader-com]

what if something real bad happens in Asia?

You take the bullet. Ordinarily bad happens 50% and good 50%. Your work should give you the required edge in time. Extremes can occur in either direction hitting the swing about 10% of the time. The chance for the trade remaing within the swing is about 80~90%. Done a good chunk of work on money management based on stop loss optimisation.
In forex and other assets, there is a clear underlying direction within a timeframe. The direction must be affecetd from time to time by volatility.

 

[bedsit]

You take the bullet. Ordinarily bad happens 50% and good 50%. Your work should give you the required edge in time. Extremes can occur in either direction hitting the swing about 10% of the time. The chance for the trade remaing within the swing is about 80~90%. Done a good chunk of work on money management based on stop loss optimisation.
In forex and other assets, there is a clear underlying direction within a timeframe. The direction must be affecetd from time to time by volatility.

Increasing the initial risk 5 times doesn't sound like the best money management technique TBH.

I've had a bad experience with that sort of stop moves, but anyway I'm always prepared to learn new things.

 

[leopardtrader-com]

Trades must first have a directional bias. technicals and indicators are secondary. they may be used for entry and profit taking. On daily basis we have a weighted direction for each single currency. We also update them there is any change. All our intraday trades are constructed around this and they tend to work. For today we have been constructing trades based on strong:eur,gbp,chf, aud(changed from weak (9:13 GMT) cad (changed from weak 7:28GMT. Weak yen, usd. Sideways Nzd.
We also maintain midterm direction for swing calls.

 

[leopardtrader-com]

Increasing the initial risk 5 times doesn't sound like the best money management technique TBH.

I've had a bad experience with that sort of stop moves, but anyway I'm always prepared to learn new things.

I understand but gotta consider traders circumstances. The exposure is not significant. I still have a major long swing on eur/usd from 13000 still target, for example
Also increaing the stop overnight by me in some trades is as if i do not have stop at all..and if such stop is hit..then that is a big one ! But it happens rarely

 

[DDI]

Hi Leapard what factors do you use when you say you measure "sentiment"?