FX Trading June 4 - June 8

[JillyB]

New trade at 1.9926/29 for sell trade on cable.

I'll update in the morning as to how it's done.

Sneaked +3 pips this morning - It was after 8.00am so strickly speaking the system should record break-even, but as I was still at the computer, I managed to bag a few.

P.S. For today only - you get the real me on the avatar - tomorrow it changes back to my alter ego Jessica. Just thought it would be nice to have a face to the name - as Jacinto has done.

 

[zuke]

Sneaked +3 pips this morning - It was after 8.00am so strickly speaking the system should record break-even, but as I was still at the computer, I managed to bag a few.

P.S. For today only - you get the real me on the avatar - tomorrow it changes back to my alter ego Jessica. Just thought it would be nice to have a face to the name - as Jacinto has done.

Nice pic Jilly!Looks like its somewhere nice and hot!

Morning all, I have just taken a long at 9918 (based off the bounce of yesterdays support (9914/15) and TDTL on the hourly. Moreover, the doji formed on the 0200 candle and subsequent higher lows point to the upside and hence have entered on the pullback to support. Stop is at 9888, Target 1 is 9958 (just inside 9965 ish res)

Well, thats the theory! Happy Hunting all!

 

[a_gnome]

"sorry for the delay. I am watching the market because I have a significant turn today. The DAX is not playing ball with my thoughts, and I am losing money right now. I am sure it will come good. ...."
(my emphasis added)

from one of Toms links: http://www.themarketmap.com/

"Do you want to know where the major indices and currencies will be turning today?"
"Simply put, our program provides you with a chart with the projected path of the individual instruments available, such as indices and currencies."

am I being cynical, or should Tom use his own MarketMap service?

(sorry, I know he is a well-respected trader and all - just having a bit of fun)

I thought that I would follow up on the Market Matrix discussion that we had at the start of the week. If you remember they were calling for a top in the stock indices on Friday or Monday at the latest. Hindsight seems to indicate that this was a good call. This is the post on trader toms web-site from yesterday

Yes, thank you very much. I will take 180 points on the Dax, and about time too. I am once again sorry for the lack of update. I guess I made it clear, very clear, on this page what I wanted the market to do, and the fact that Matrix was calling for a turn.

I am covering some of my short positions now, about half, at 20:15 gmt on the 6th. I am toying with the idea of buying the DAX for Thursday morning as it is being called down 32 points. I doubt the DAX will open down 32 after losing 180, at least not without bouncing 10-20 points for me... That does it... a llittle long Dax

BIG PICTURE..

well, the Dow really needs to get below 13,400 otherwise this is just a correction, albeit a fast and sharp one, but nevertheless the uptrend is in tact and nothing has changed, except how great it was to have a real volatile day again... Christ allmighty, please bring back the good old 2002 days with tons of volatility and big intra-day swings, then I don't care who wins the tug-of-war...

more coming 7th June 2007

I must admit that I am intrigued by this whole MM thing. Does anyone here subscribe to the MM newsletter or alternatively have any turning points that they could post? Jilly called the low on May 30th/31st which in hindsight turned out to be a great call. Perhaps she could post some more turns?

 

[Offshore Trader]

I did look at the market map when it was free and to be fair a lot of the intraday calls were good and I would imagine if you followed it religously you would make money but some of the calls just looked wrong. I guess it's the same with any system but the ability to call the swings in the market was uncanny.

On another note the key to cable has to be the MPC. I'm still short cable but have laid no change on betfair at 10/1 on, as an insurance policy in case we get any sort of rise. I certainly don't think a change of rates is a 10/1 chance, it must be closer than that.

 

[zuke]

Nice pic Jilly!Looks like its somewhere nice and hot!

Morning all, I have just taken a long at 9918 (based off the bounce of yesterdays support (9914/15) and TDTL on the hourly. Moreover, the doji formed on the 0200 candle and subsequent higher lows point to the upside and hence have entered on the pullback to support. Stop is at 9888, Target 1 is 9958 (just inside 9965 ish res)

Well, thats the theory! Happy Hunting all!

As we've had such dull days recently, I've set a box play between 9965 and 9900. +/- 10 either side. Will add on pullbacks. Dont usually trade b/outs, but Im very interested in them (although, I gather they've been doing really badly recently)

 

[Phil Mibbutz]

As we've had such dull days recently...

Too right. I've been watching some paint dry to keep me awake this morning. Things might liven up soon, though -- upwards on cable, hopefully.

 

[JER08]

No rate rise, seems to me it's leaked, could be wrong though.

 

[jacinto]

No rate rise, seems to me it's leaked, could be wrong though.

there is a rumour North Korea launched some missiles. effect is everywhere. lets see

07 Jun 2007 10:17 GMT


BULLET: N.KOREA: Wire reporting that N.Korea has fired short.
N.KOREA: Wire reporting that N.Korea has fired several short range
missiles off west coast, Yonhap quoting a government official. (Rtrs)

Provided by: Market News International

07 Jun 2007 10:19 GMT


BULLET: EUROPEAN STOCKS: Stocks fall on news that N.Korea....
EUROPEAN STOCKS: Stocks fall on news that N.Korea has fired several
short range missiles off west coast. FTSE-100 has surrendered morning
gains and now in the red. CAC -0.52%, Xetra-DAX -0.09%.

Provided by: Market News International

 

[trendie]

have just bailed out of a 9:30am cable short, from 9917, out at 9888 for +29.

watch it plummet further.
(should have had multiple positiosn)

 

[Offshore Trader]

No rate rise, seems to me it's leaked, could be wrong though.

I'm not saying you are but the move is all USD, sterling hasn't moved against the euro. I'm so heavily hedged now that I would almost welcome a rate rise (my mortgage wouldn't though:cheesy: )

 

[zuke]

Nice pic Jilly!Looks like its somewhere nice and hot!

Morning all, I have just taken a long at 9918 (based off the bounce of yesterdays support (9914/15) and TDTL on the hourly. Moreover, the doji formed on the 0200 candle and subsequent higher lows point to the upside and hence have entered on the pullback to support. Stop is at 9888, Target 1 is 9958 (just inside 9965 ish res)

Well, thats the theory! Happy Hunting all!

I forgot to mention that this doesnt take account the action of Kim Jong IL!! Stopped out at 9888 for -30 ( I am fuming because I saw the hourly close uder 9914 and didnt follow my own bloody system and reverse to short!)



Now short from 9890 (box play mentioned above) Stop 9930 TP1 9830

EDIT: Closed the box short @ 9883 for +7 due to news coming up

 

[brutusdog]

short at 9910 cable same oco order reactivated after getting stopped out yesterday for -20 on same trade stop moved to 9893.

 

[jacinto]

I'm not saying you are but the move is all USD, sterling hasn't moved against the euro. I'm so heavily hedged now that I would almost welcome a rate rise (my mortgage wouldn't though:cheesy: )

its a really strange movement. dont understand it at all. dollar strength against cable, euro and swissy, euro weakness vs yen but as you mention nothing with eurgbp.....

 

[smbtnt]

since yesterdays sharp reaction off 9965 major Fib resistance on the dailies my bias has switched, currently holding half stake short off the round number rejection at 9950,
Good luck all.

1st 3 Lots out at 9880, holding 2 more from initial 9950 short, BUT looking to long cable soon.

 

[JER08]

Don't think the cable fall was caused by the Nk missile test, the UK don't have a military presence like the US around Nk, so anything to do with NK should have more effect on the dollar than the pound.
Again this's just my opinion.

 

[brutusdog]

stopped out 9893 + 15 net. of spread

have a target for today of 9855 looking for test of 9898 befor shorting again.

 

[jacinto]

I really have no clue JER, those were rumours on news bulletins, the moves didnt make sense overall. yen strenghens vs euro, but not much activity vs dollar, dollar moves against euro, cable, and swissy...doesnt make sense.

if it the missile issue were true, it is the yen who should have lost all the value and didnt happen. its just strange. i just posted the bullets i got, so i really have no opinion on it.

good luck with the news

 

[brutusdog]

short again 9885.

 

[zuke]

Swimming against the tide. LONG at 9860 SL 9840, TP1 9880

 

[smbtnt]

Offloaded all shorts, looking to start buying £ now.
Very risky/brave/stupid decision but going with gut here.