Currency trading (Sep 25th - 29th)

[Offshore Trader]

Stop loss at break even.

 

[dc2000]

up down and up again? now looking for bounce off 875

 

[ChowClown]

...your short entry looking likely, dc - given 13:30 data.

 

[ChowClown]

Stop loss at break even.

...me too.

 

[dc2000]

your short entry looking likely, dc - given 13:30 data.

yup need to see confirmation once US gets underway though, Looking for the bounce

 

[Offshore Trader]

Stopped moved to +30

 

[ChowClown]

....looking better, OT. Do you use a timed exit if not at target?

 

[Offshore Trader]

....looking better, OT. Do you use a timed exit if not at target?

I've copied you there, 4 p.m. It does appear to be best. If it is moving my way approaching 4 then I put in a tight trailing stop, just in case it tanks soon after but I'm reviewing that as I tend to give up a few points most days, even though occasional I gain a lot more. I certainly don't like to hang around too long after 4 though

 

[coolTrader]

eur is not playing ball today

 

[laptop1]

Guy's, I hear you saying volatility is low, the FX market only moved 20 pip range the last 4 hours, so on..Well move over to the Mini Dow, that will give you plenty of volatility.

 

[ChowClown]

Good stuff OT. Looks like your flat with +30. Good to see it delivering in the end.

If by 4pm it's just a few pips up, ie less than 10, i'll hold for the evening to catch the later action that sometimes happens - doesn't kick in often though. I've also decided to reduce giveback on +100 days, so >110 i'll lock in +100.

....roll on 4pm.

 

[ChowClown]

Guy's, I hear you saying volatility is low, the FX market only moved 20 pip range the last 4 hours, so on..Well move over to the Mini Dow, that will give you plenty of volatility.

...well cable ain't that interesting at the moment, laptop1, but we're having fun and games on the other pairs/crosses. I'll take a look at Mini Dow sometime, never traded it.

 

[Offshore Trader]

Err... no

When it went 55 offered i.e. 60 points profit, then I put in stop at 85 which is still in place. Looking at the charts, I think I might get taken out before 4 o'clock but I need to stick to the system. We'll see

 

[laptop1]

...well cable ain't that interesting at the moment, laptop1, but we're having fun and games on the other pairs/crosses. I'll take a look at Mini Dow sometime, never traded it.

I made 2 trades so far on the YM +32 and + 4...currently long from 11762

 

[ChowClown]

Err... no

When it went 55 offered i.e. 60 points profit, then I put in stop at 85 which is still in place. Looking at the charts, I think I might get taken out before 4 o'clock but I need to stick to the system. We'll see

..doh, of course!

 

[dc2000]

looks like I will have to adjust my target -3 pips

 

[laptop1]

now flat 60

 

[ChowClown]

...me too.

...4pm exit +32. Afternoon tea and cakes beckon. Good to have your company today OT, on the similar strat.

 

[Offshore Trader]

Closed at 85 on stop but 4 o clock level anyway.

Chow re your 100 points profit s/l, it seems a good idea but the problem is that in my experience 10 point stop losses are nearly always hit. I think in the last few 100+ days you would have been better holding it. It must be very rare to be 100+ and go back to square??

 

[ChowClown]

Closed at 85 on stop but 4 o clock level anyway.

Chow re your 100 points profit s/l, it seems a good idea but the problem is that in my experience 10 point stop losses are nearly always hit. I think in the last few 100+ days you would have been better holding it. It must be very rare to be 100+ and go back to square??

Thanks for your advice, OT. I'll monitor for a while longer to get a better feel for these days. Eager student here.