Currency trading (Sep 25th - 29th)

[Offshore Trader]

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

I think I'm the student but I think (no evidence other than my impression) that if you are 110 points up then by holding it to your normal finish will serve you as well as putting in a tight stop. Of course you have to be prepared to accept the rare day when it goes all the way back, although my +30 system may help.

BTW I'm looking at other currency pairs on the same system. I think there is some merit on spreading the risk as whilst it's easy to think that the dollar moves the market, as we all know sometimes it is the crosses and so there is profit in say USD/CHF but nothing in cable. Currently I'm looking at EUR/USD, USD/CHF, EUR/JPY and USD/JPY.

 

[Priceman]

Hi guys,

Any action left today then after the speech in 20mins ? See you're all doing well.

 

[Priceman]

Hi guys,

Any action left today then after the speech in 20mins ? See you're all doing well.

That'll be a no then...

Cable;
I think... high of 8894 tonight then more downward action tomorrow ? Break of 8837 means down down down.

Watch the thing go up like mad now. C ya

 

[coolTrader]

Anybody bothered trading oil today would have been laughing. 100points down and 200 + bounce back not bad. Starting to wonder what's with cable.

Eur seems to be holding on quite well....Anyway tomorrow is another day.

 

[wasp]

Everyine still having fun and making plenty of green?

Can't believe your all trading cable still. As Zuke said, it is sooo last year! Scandanavian is the new cable!

Anyhow how, popped in to have a butchers and share my thoughts!

хорошо торгующ всеми

wasp

 

[dc2000]

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??

Ahh big stops an deep pockets welcome to my trading room

 

[belflan]

Evening everyone

Great thread, keep up the good work. I’ve learnt a lot from this stuff.

I’ll keep this short.

The EUR/USD & Cable seems to trade in tandem quite a lot. Do any of you guys use this as a gauge of when to enter/exit a trade? Eg. if cable gets carried away with it’s self to the up side; short it and go long on the EUR/USD.

Is this worth looking at further or am I wasting my time/money :|

Thanks again

 

[Offshore Trader]

Morning all. Looks like we've missed a fair bit of action already

 

[ChowClown]

Ahh big stops an deep pockets welcome to my trading room

:cheesy: quite the opposite, DC. Just thinking there might be some merit in locking in +100 when we're fortunate enough to get a strong day. I haven't tested it thoroughly enough, but my hunch was that if a trade is at +100 intraday (before the 4pm exit i use), there's a strong possibility the trade will 'give back' on profit taking...need a few decent days to observe if this is actually the case, which we'll hopefully get again soon.

 

[dc2000]

quite the opposite, DC. Just thinking there might be some merit in locking in +100 when we're fortunate enough to get a strong day. I haven't tested it thoroughly enough, but my hunch was that if a trade is at +100 intraday (before the 4pm exit i use), there's a strong possibility the trade will 'give back' on profit taking...need a few decent days to observe if this is actually the case, which we'll hopefully get again soon.

Ah I see I dont use 4pm at all but 78.3% using 2pm not that I've done it before

ps this mornings trade +95

 

[zuke]

Treat 'em mean, keep 'em keen!

See what happens? As soon as Wasp and & I start hanging out with the Scandi chicks, Cable gets all jealous and finally starts going down! (literally!).

Morning all, having a good week on Cable, my straddle on Light Crude worked well yesterday and my current Cable short is going well. On the -ve side I had a -263 loss on SEK earlier in the week, but all told, its been nice to have Cable back to her old self!

 

[Offshore Trader]

Unfortunately for those who trade intraday and lie ine bed Zuke, it all started a bit early....

 

[retief]

Could this be a bolli band turn inside candle forming? i'm fairly new to all this stuff .
Rob

 

[retief]

Sorry , forgot to mention looking at 1 hour chart on cable

 

[ChowClown]

...looks a likely setup retief.

 

[retief]

Thanks Chow - i need to make a couple of shillings -- running out of golf balls.
Rob

 

[ChowClown]

Thanks Chow - i need to make a couple of shillings -- running out of golf balls.
Rob

..i take it you're waiting for the break etc.

 

[nefariousbaffler]

Don't think it will break :-0

 

[ChowClown]

...hope not nef. Short earlier from 788.

 

[nefariousbaffler]

Right there with you. :cheesy: Hopefuly the news from the US is positive