April '04 Forex

[ChowClown]

.....I guess no one's mucked out the house from last night, so I'll volunteer just this once. The marrowbone supplies are low, let's hope it's steak for the dawgs tonite :cheesy:

 

[FetteredChinos]

Ross Or Red?

i agree that a stop closer to 1.7905-10 would have been slightly more strict, but cable whips around like a beggar sometimes, and that was too close to the round number for my liking. it could have just cheekily poked its head above 1.7900 and stopped me out.

just a personal thing, i like to give my instruments room to manouevre (fnar fnar )

valid point though.

FC

edit:- remember i was trading off the 30 min chart for this one..

just hoping to ride the down-trend for the day. well thats the idea anyway!

 

[rossored]

fair enough m8

 

[ivorm]

Long EUR 1924 on JT's 7-10 BO system.

Go Euro !!!

 

[Delmonico]

Thanks JonnyT
Are you still trading the system yourself as originally posted or some other version?

 

[MGBRoadster]

EUR/USD

No entry by 10:00am on the 1-8BO system, so I've reverted to the 7-10 system. (I need the fix!!!)

I'm long from 1924, 35pip SL

Good luck guys

 

[Delmonico]

JonnyT, was there anything in your original musings about the 7-10 breakout and only trading it within the next 2 bars. I believe I read this somewhere and just want to clarify
Thanks again
Delmonico

 

[rossored]

LOL

Just shorted euro 925 for a bit of a scalp

There's our market! :cheesy:

 

[FetteredChinos]

well the ORB strategy aint working too well today. looks like it is going to try to pop below 1.1900 again just to annoy us all.

still happy with my cable short though. +31 and counting thus far.

time to switch off my targeting computer, obi wan.

FC

 

[rossored]

And out at 910 for +15

 

[FetteredChinos]

nice trade Ross

i forgot you were more of a scalper than a position trader.

FX is lively even in comparison with the DOW isnt it!

FC

 

[ChowClown]

Rossored.....nice one!

 

[rossored]

Sure is lively. Dow is like a big fat slug of late.

I do like my scalps! LOL

Edit : out a bit soon by the looks of it, but never mind. Measured move and all that.

 

[Goober]

RR

Would that be Cambridge, Canada or Cambridge on the river Cam?

As FC mentioned, Forex can be whippy. I trade a BO system with stops as wide as 60 pips. I would love to trail stops but don't have the time or inclination to sit in front of the screen. However, I do believe that there's money to be made scalping forex.

All the best.

 

[rossored]

Cambridge on the Cam mate. Was in Toronto last year, probably go back June this year I guess.

Interesting how we all have these vastly different approaches to the same instruments, isnt it? I've never used big stops and I probably never will to be honest - its just not in my makeup to be a position/swing trader.

I've noticed it can be a bit lively : news time yesterday on eur/usd showed that quite well. Whipped down and took out my stop, only to fully recover and trade in the direction I thought it was gonna go in anyway!

Edit : on a bit of a flyer, just bought again at 904 , half stake

Second Edit : ooops. Ah well, cant win 'em all. Out for -10

 

[ivorm]

Nice trading, rosso.

rosso : I haven't been around much lately so I've losttrack of the plot a bit. Also, they've installed a new firewall at the office and so I can't get into the chat rooms (gits !!).
How comes you're back in England ? Or is it just a temporary sojuorn before you go back to Canada?

Anyway, it's good to see you posting on the forex thread.

Regards,

 

[Volatile]

I'm not using JonnyTs BO strategy - and I went long this am around 8.30, now short as of 10:42

Had a small disaster yesterday (-30) but today's looking good so far. How many people out there are using this BO strategy? Sounds like it might be worth looking at in more detail.

 

[FetteredChinos]

out of cable short at 1.7862 for +29 Positive divergance on several indicators. time to bank some points.

FC

balls, it then sold off just after i exited. typical.

still, tried a small stakes long at 1.7849.

 

[Goober]

FC

Here's an example of the 2B Reversal with RSI Divergence on EUR 5 min chart. These moves occur often intraday. Short entry is break down through horizontal line at 1.1924 (2nd last swing high). Trail stops at previous swing high or 2nd last swing high (my preference).

Maybe I should sit in front of the screen and put my money where my mouth is! I would assume that these setups would occur often on 1 min charts as well.

 

[FetteredChinos]

aha yes, i have seen those on NB's website actually. looks quite promising, and the logic behind them is pretty sound. may have to investigate further, perhaps on an hourly chart, as i cant sit in front of charts all day

Nice bullish pattern on the Euro though. lets see how my long pans out on that one.

famous last words lol

and why isnt the guardian website working? harrumph

FC