April '04 Forex

balls, stopped out.

think i may take a break from trading for a bit. 2 bad days on the trot now.

hmm, may need to fine tune my methods a bit.

FC
 
...what method do you use FC? Let me know if you've already detailed this somewhere on here.
 
well two methods really. one is a variation of JT's opening range breakout system.

the other is trading off indicator divergance coupled with observing support/resistance points..

doesnt work too well when the market goes straight up like it did yesterday!!!

gonna take a couple of days off to clear my head etc.

plus i need to move house, and that is slightly more important at the moment!

FC :)
 
Snap - I'm using the 1am-8am BO version with 60 point stops which runs in the background and trade a few patterns intraday.

Good luck with the house hunting/move.
 
Current Orders

USD/JPY-Short 108.38-Long 108.69

USD/CHF-Short 1.3003-Long 1.3088

GBP/USD-Short 1.7850-Long 1.7942

Euro/USD-Short 1.1841-Long 1.1903


Lets see how much of yesterdays profit we can lose :eek: :eek: :eek:
 
lol wanderer, i know how u feel. its always a pain when you give back 100pts in a couple of days. which is what i have done.

good luck with it though. ive still got a short on the FTSE running though. thats my only trade.

chow - cheers, i'll put up some nice wallpaper especially for u lol!

:)
 
Chow

I'm trading pretty much the way you are, except my BO entry is H or L of 00:00:01 to 09:00:00 range + 1 pip; SL 60 pips. I also trade divergence patterns. Yesterday, I didn't let my BO system trade in the background. If I had, I would have made a small net profit.
 
grr. note how cable has bounced up some 40points since when i was stopped out.

anyone recommend any good literature on stop-placement?

FC
 
BO system long entry on EUR triggered at 1.1904 SL 1.1854.

Now's the time for everyone else to short! :LOL:
 
Goob,

To my mind system trading is boring, but a good system brings home the bacon - if I follow my adrenalin rush/excitement seeking side when trading, I usually get spanked good and hard (niiiice) - last year I lost more than £5,000 in a day on the DOW - it's taken 6 months for me to get my system(s), psychology and discipline to a level where I've only just begun live trading again.

Good trading today m8.
 
christ chow. im both sorry and pleased to hear that.

im glad you are back on track now.

i really need to work on my discipline..im tempted to go offline after i have placed my orders each day. otherwise i just get sucked in searching for points that arent really there.

slapped wrist, chinos. i shall return with a vengance next week though.

im going to top up my trading account i think, and therefore trade a size more suitable to my account. (i have been trying to trade a similar size that i used to on the FTSE - not a good idea!! :( )

time to do some reading over the weekend.

:)
 
Orders Filled

Euro/USD-Long 1.1903-Stop @1.1863-currently-18 :cry:

USD/CHF-Short 1.3003-Stop 1.3043-currently -24 :cry:

USD/JPY -Long 108.69-Stop 108.29-currently +46 :D
 
Tried to trade the cbi report at 11 which either 1) didnt come out or 2) made no impact what so ever!
However put my buy order in too close to the price and got filled before the announcement anyway. Therefore I am now long at 17930 by mistake! Is anybody else long cable or have a short term view?
 
Using JT's system you would be on the brink of going long?

So you had a good Long yesterday and a short the day before?

If I am doing something wrong I think I will stick with it :)
 
TW

I only look at Cable and EUR. Maybe I should look at Yen and Swissy as well. Do you apply EUR BO rules to other currencies?

Chow

I feel your pain. In August 1998, I lost SAR24,000 overnight in Index Futures. It took me 3 years to get over that one loss. Expensive school fees, but, a lesson well learnt. I don't hold a big futures position overnight anymore.

FC

I have noticed that you try to force trades. Step back and analyse your trading psychology.
 
i know goobs..its a habit i got from trading indices. they move a whole lot slower, and so gives you more time to analyse whether the trade is going wrong, or if it is a temporary pullback.

in order to keep you guys company, ive decided to stick to the system on the EUR/USD. got orders in at 1.1841 and 1.1910

neither triggered yet.

going to go for a walk until they do! lol :)

bad luck TW. -40 not a good start to the day.
 
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