FX Trading: week 16th - 20th July

[Crap Buddist]

just closed short +11.2, bonkers..... until tomorrow.....

 

[jacinto]

It had something to do with candles penetrating levels of BBs then coming back, giving a buy or sell signal. It worked pretty well on some timeframes, so it's a pity I can't remember the precise strat and make £1m in a month, or whatever.
Any forecast for tomorrow, CB? Another stab at 400, then a decent fall, perhaps?

How about a decent stab at 300 and then a decent rise :cheesy:

 

[Atilla]

How about a decent stab at 300 and then a decent rise :cheesy:

Hi guys,

Taken a short position on cable @ 2.0354. This was based on the 4 & 1 hour charts.

Expecting some easing of future rate rise expectations tomorrow. Just a hunch and TAs look like downers.

Good trading everyone.

 

[Crap Buddist]

Hello, had a long early Am + 41 sold into that first spike, just a windfall exit.

site down again ive set this chat, message room up for those who want it.... its really no biggy but its there ...... when needed.

heres the thread discussing it....

http://www.trade2win.com/boards/showthread.php?t=25734

 

[JillyB]

Short at 2.0425 - but not looking too good at the moment. Hanging in there for the time being - sweating a bit over this one - not my usual trade and can't really think why I did it......... Which sort of begs the question, why did I?

Song title for me a the moment: Ooops I did it again.......

 

[Crap Buddist]

Trends still up on my setup, and as I snatched windfall, im left sidelined waiting for a short...... might ne sometime yet. Got the BT vision engineer coming out this afternoon, so likely sh/e will cut the line to connect..... hope they dont hang about.

 

[Crap Buddist]

Short at 2.0425 - but not looking too good at the moment. Hanging in there for the time being - sweating a bit over this one - not my usual trade and can't really think why I did it......... Which sort of begs the question, why did I?

Song title for me a the moment: Ooops I did it again.......

hmmm were you influenced by matrix ,delta tops and highs ? And you maybe thought, extra value shorts above 2.0400 , external influence ?

 

[JillyB]

hmmm were you influenced by matrix ,delta tops and highs ? And you maybe thought, extra value shorts above 2.0400 , external influence ?

Yes, I think that's it really. Date and time coincided so I thought I would give it a try.
Took a cheeky +3 pips when it stalled around 2.0415 and dropped back to 2.0409.

Then thought I'd try again when it got to 2.0425 - little voice in my head was saying 'don't push your luck!' but I had to - and now I'm a very unhappy bunny.

I'm watching for the news at 1.30pm and will decide just before whether to get out or not.

 

[jacinto]

hi all

managed to **** up a long from 360 overnight, original stop never challenged. wasnt confortable with the entry, and there is nothing else to say. failed trade based on emotions. this post belongs to my journal (where i will post later). so far its a waist of almost 100 pips.

still got a measured move to 495. the first target (i.e. 61 exp) has been met @451. im finding it hard to daytrade since my daughter is on holiday now, and couldnt trade during the morning, so that is another entry missed....not complaining there because i am really enjoying the little thing.

have a good day all.

j

 

[Offshore Trader]

Morning , well it would have been if I could have got on the boards before now. Long from 03 on breakout system. I am actually long from 360 but stop now at b/e on the breakout method i.e. 03 or close at 3.55

Another good night for Jilly's overnight system.

Lastly, I got taken out after the figures by a spreadbetting firm whose chief trader swore blind that the market spiked down before going higher. After complaining to their customer services desk, my trades have been reinstated, which is good for the customer service desk but a 20 min call to their trader failed to get any response except for things like "you traded off our price", "it's a volatile market" etc. The morale of the story is if you know you are right, complain and keep complaining

 

[neil]

Traders perspective

I've posted this link on Lurkers thread but it might interest other traders and aspiring traders


http://www.forexfactory.com/showthread.php?t=27286

 

[JillyB]

I've posted this link on Lurkers thread but it might interest other traders and aspiring traders


http://www.forexfactory.com/showthread.php?t=27286

Looks like a really good thread - I will try and read it in my lunch hour.

 

[Crap Buddist]

Yes, I think that's it really. Date and time coincided so I thought I would give it a try.
Took a cheeky +3 pips when it stalled around 2.0415 and dropped back to 2.0409.

Then thought I'd try again when it got to 2.0425 - little voice in my head was saying 'don't push your luck!' but I had to - and now I'm a very unhappy bunny.

I'm watching for the news at 1.30pm and will decide just before whether to get out or not.

hmm, didnt they start calling tops and reversals a week or so back around $2.0000 as well ?

do they do any follow up analysis?

 

[JillyB]

hmm, didnt they start calling tops and reversals a week or so back around $2.0000 as well ?

do they do any follow up analysis?

No, the newsletter I had - which came out at the beginning of July - gives 2.04 as the price target. It should be updated anytime now - usually a mid-month update.

 

[Crap Buddist]

No, the newsletter I had - which came out at the beginning of July - gives 2.04 as the price target. It should be updated anytime now - usually a mid-month update.

ok cheers, I must of got that it confused with something else....

 

[Crap Buddist]

BT engineers been, testing it out, with a short.


2.0460.5

 

[trendie]

Shock, Horror!!

am skimming through The Way of the Turtle, by Curtis Faith.
It has just dawned on me that the Turtles were break-out players, eg, buying breakouts.
they then presumed this to be the beginning of a new trend.

are they misnamed as trend-followers, when more accurately they are breakout traders?
have I got this wrong?
does it matter?
am I thinking too much? (again)

the book also carries out some testing of various trading methods, such as the classic Donchian Channel breakout, Dual MA-X-overs, Triple MA-X-overs, etc.

the author shows empirically that stops actually reduce overall profitability!
(I suspect this is because they have a broader view and they are taking huge chunks out of the relative market size, and stops are still valid for us leveraged intra-day players)

are Darvas boxes just Donchian channels but on a smaller scale?

 

[JillyB]

Shock, Horror!!

am skimming through The Way of the Turtle, by Curtis Faith.
It has just dawned on me that the Turtles were break-out players, eg, buying breakouts.
they then presumed this to be the beginning of a new trend.

are they misnamed as trend-followers, when more accurately they are breakout traders?
have I got this wrong?
does it matter?
am I thinking too much? (again)

the book also carries out some testing of various trading methods, such as the classic Donchian Channel breakout, Dual MA-X-overs, Triple MA-X-overs, etc.

the author shows empirically that stops actually reduce overall profitability!
(I suspect this is because they have a broader view and they are taking huge chunks out of the relative market size, and stops are still valid for us leveraged intra-day players)

are Darvas boxes just Donchian channels but on a smaller scale?

Yes, you're thinking too much!!!!! Steady now! LOL

I've just been reading the book as well and yes, I think the Donchian channel is a Darvas box (or vice versa) - it occurred to me that their strategy was very similar to that used by Darvas - so many years earlier!

What I found interesting though, was the results they had with a simple 2 MA cross-over - quite surprising really as we all (well most of us) consider them lagging indicators (which they are) and not worthwhile using as a trading strategy.

On a different note: I'm still short on the Cable - Support seems to have formed at 2.0443 so I'm waiting for a definite break of this and close below it to confirm the short trade. At the moment it's just meandering around, so I'm just letting it go - waiting for it to make up it's mind!!

 

[jacinto]

:
On a different note: I'm still short on the Cable - Support seems to have formed at 2.0443 so I'm waiting for a definite break of this and close below it to confirm the short trade. At the moment it's just meandering around, so I'm just letting it go - waiting for it to make up it's mind!!

where is your stop Jilly?
hope that at the very least you get a BE trade.

j

 

[Atilla]

Hi everyone,

How high can it go? At this rate it'll be $2.1 before my next birthday... :cheesy:

Bad day today. Lost -25 pips after a long time out of cable. Got movement on interest rates wrong and now this. When you lose heat you go off the boil...

Waiting for a sign in the markets. I think we are coming up to some seismic moves and so I'm more flat than in the market these days.

I think oil will come off the highs. Gold may well rise if dollar continues in it's slide. As for cable and euro I can only imagine they get stronger.

Good trading...