Recent content by pcrude

I have moved my EUR/USD to 2 x BB range for TP; it's more volatile (for obvious reasons given the current turmoil). I can't help feeling that 5% risk per instrument, despite benefits of non-correlation, is far too big. Rule of thumb is 2% max per trade, and at the institutional level even that...

I had 4 point buffer on each side, so ref IG Daily FTSE buy 5795.8 sell 5768.8 Limit should be 19 points but I add 4 to counter slightly wider stop than normal rules. Target therefore 5745.8. However I got out before then as today is only the third time (by my charts) that target has been hit...

That's correct. The volumes on the cross rates are pitiful. Those figures hide the real picture, as the FX spot market is largely inter-bank, so would not appear on the exchange. It's also the case, I believe, that a lot of, say, GBP/JPY spot and forward business is done at the corporate level...

I would stick to majors, those only with a USD leg. It's been a few years since I was involved with the FX markets, so I may be wrong, but from memory cross rates are derived almost entirely from the underlying component majors. The volume and open interest data for cross rates on CME's website...

Tom, I've been trying to use 8 to 8.30 range in addition, but it hasn't been working too well. It can cause problems approaching the 10.00 am mark, as the normal BB kicks in. I would prefer to leave things as they are, as the normal BB is working fine, rather than interfere. I pulled my FTSE...

Steve, I use the same method you've described for calculating ATR. Google "Average True Range" and then look at the www.stockcharts.com website. It looks like you've entered limit prices when the spot price is lower than the buy order and higher than the sell order. A limit price is a "not...

Jon Perhaps I can answer these, though the final say is with tomorton, so these are my preferences only. Re FTSE I move my stop to b/e when half the target is reached, ie half BB range. I usually let the trade run to US close if still running, though sometimes I override this if the market...

Try googling "Average True Range" and then look at www.stockcharts.com My understanding is you have to take the maximum of the 3 variables, then do another fairly simple calculation to get to the right figure. I had 75.78 for this morning's figure. Today was painful!

Out for 25 ticks profit shorting Dec FTSE. Waited to put my orders in after Sep. expiry at 10.15. Sadly halved my position as downside trigger hadn't taken place before close 10-12 candlestick.

I'm cutting my size by half if BB range hasn't been triggered by 12, according to 12.00-14.00 time range only having 2 hits (1 win, 1 expired) and may revisit before retail sales at 13.30

Out for 4 ticks profit, based on no targets hit between 4 and 6pm

Out at 5501.5 (a bit early I admit) for a nice profit. Had a 4 point BB buffer on both sides of Sep FTSE, which I didn't have yesterday and which proved expensive. Lesson learnt!

Thanks, much appreciated.

Stephen (if I can step aside from FTSE for a second) Ref Oct Daily crude on IG, which may not be one you follow, I put a 20ema on a 5 min, and would have sold according to my criteria at 7358 around 9.25 am this morning, which was support after a failure at 73.86 around 9.00 am. According to...

Ditto. Sold 83.5 bought 83 ref Sep FTSE at 8.55