FX Trading June 11th - 15th

[Crap Buddist]

you definitely have too much time on your hands

the cornflower method

I wonder if this market is going to move at all today cause i am getting bored and dont want to clean up. that CB guy didnt come and now i have to do it all by myself

Well I woulda, but think of me holding short since this AM...suffering the gyrations, freaky mojo's are still short defying all logic,almost ! no housework today though, wife needed help backing up her Laptop work... kitchen mess is building up a bit and ive only had marmite on toast for lunch.

 

[jacinto]

Well I woulda, but think of me holding short since this AM...suffering the gyrations, freaky mojo's are still short defying all logic,almost ! no housework today though, wife needed help backing up her Laptop work... kitchen mess is building up a bit and ive only had marmite on toast for lunch.

yuckk hate marmite more than eurgbp

 

[smbtnt]

i hate eurgbp .

eurusd putting severe pressure on support, usdchf on resistance........and cable wanting to go up......errr,

this seems like a fake and when eurgbp bounces, its bye bye cable (and i will get my vendor tag back up). im done for the day, will check charts later, but thats it.

good trading all

j

'They' seem to want to entice the longs before the dump begins, looks very weak which is actaully a dangerous sign for TA lovers.

 

[jacinto]

'They' seem to want to entice the longs before the dump begins, looks very weak which is actaully a dangerous sign for TA lovers.

mmmm, good thing is im off to pick up my kid in 5 mins. as much as i want a trade, will have to pass

good luck with the longs SMBTNT

j

 

[Offshore Trader]

Been short since 10 a.m. and can't believe cable hasn't gone down with what else is happening. A big move is probably brewing but it may not be downwards

 

[JTrader]

Another quiet cable day like yesterday. EURUSD has seen more action.

I wonder who decides when and where a currency price will move?

I know today and yesterdays lack of price action can be explained in terms of lack of news releases. But you do get days without news releases where BIG price moves materialise

 

[Crap Buddist]

hmm perhaps when / if that eur/gbp retakes and pumps north of 6750 cable will begin its decent..

At least the range days offer a lesson in patience. Hard to do sometimes if we feel we should be actively "doing"

 

[JTrader]

hmm perhaps when / if that eur/gbp retakes and pumps north of 6750 cable will begin its decent..

At least the range days offer a lesson in patience. Hard to do sometimes if we feel we should be actively "doing"

The trouble is though you knowing when the range will end and the trend begins, and if you do not trade once a range develops, preferring to wait for a breakout from a range, perfecting an entry point/strategy so that you do not miss the move when it occurs!

 

[oiltanker]

looking at all the small candles for the last two days reminds of me of bank holiday trading.

if 70% of major trading is done by computer algorithm then the computers must be sitting there waiting for other people to move so they can 'react'?

i had a nice long gbp/euro this morning. eur/gbps gone nuts. is this contract selling because of expiry?

 

[oiltanker]

just tried a gbp/euro short hoping for a 4pm slide.

closed out a euro short and a chf long for +21pts total

 

[JTrader]

looking at all the small candles for the last two days reminds of me of bank holiday trading.

if 70% of major trading is done by computer algorithm then the computers must be sitting there waiting for other people to move so they can 'react'?

i had a nice long gbp/euro this morning. eur/gbps gone nuts. is this contract selling because of expiry?

Thats the thing with currencies - multiple exchange platforms, vast markets etc, its hard to gage what drives price. Unlike with stocks where you have one exchange/level 2 screen.

I'd imagine that the majority of forex traders primarily use trend following strategies, rather than range trading strategies, given that the currency markets are meant to be the best trending markets.

There are no hard & fast rules. You cannot anticipate the dead nature of cable today and yesterday due to lack of news releases, because on days that are the same with no news releases, a currency pair can trend like a good un' for no obvious reason. It all seems fairly random to me, a lottery. The trick is to jump on board when your strategy permits.

 

[oiltanker]

the suspense. i feel like i'm in a spagetti western movie and we are at the point of the three way stand off and all you get is the twangy music and shots of each others eyes, guns and itchy trigger finger to see who shoots first. Huh wan ataka owwwaaaaaaaaa dwang dwang ....

oooh gbp eur going down! seems to be the only market doing anything and its known for being a boring range market !

 

[Atilla]

Thats the thing with currencies - multiple exchange platforms, vast markets etc, its hard to gage what drives price. Unlike with stocks where you have one exchange/level 2 screen.

I'd imagine that the majority of forex traders primarily use trend following strategies, rather than range trading strategies, given that the currency markets are meant to be the best trending markets.

Hi guys, here is me putting my head under the guillotine...

Treasury yield bond situ in US becoming alarming. Will fed raise rates or not?

THEY WILL NOT RAISE RATES - Just as the White House will not collectively commit suicide.

Uncle Bernanke and the rest of the crew will talk their way out telling the market what they want to hear.

Pound will then continue in it's path and so will the dollar. This is just a little hold your breath wait and see some CPI numbers.

DOW and DAX has been interesting. Cable dead as a door nail outside of last night and this mornings European reaction.

This reaction is in response to listening to too much Bloomberg. Where do they get all these analysts from. You can find a better breed of animal in the zoo.

Good trading everyone.

 

[oiltanker]

closed out gbp/euro short for 0 after it went all the way down 3pts! can't watch it anymore as i have to go out.

 

[Crap Buddist]

See what happens from this point but showing bullish cable on my setup mid 740's , Might be a spring to the upside coming

 

[jacinto]

wasnt greenspan supposed to be having a conference at 5 30?

ridiculous the market still reacts to greenspan.........and i thought i had a problem with nicotine

err, went short 47, and a tight stop.

 

[Trader333]

Well, today I'd be round there swigging back the tequila after those bloody asians working all the stop orders to the upside...

Isn't your avatar and name partly Asian in origin


Paul

 

[Crap Buddist]

Isn't your avatar and name partly Asian in origin


Paul

LOL. Yeah. Very good point. And on reflection they are very cunning. Fair play to them. Get your enemy while he sleeps.

 

[jacinto]

still short CB?

 

[Crap Buddist]

still short CB?

No, long 1.9746 had to roll with it . Says up on my set up. paying top prices ,hope I dont get spanked for it. see value sub 30, dunno if it will get back there, but i'd be buying.