Currency trading (Sept. 11th > 15th)

[zuke]

cable losing its lustre??

so far for me today is +50 and +45 on cable

Cable seems to be giving me far fewer pips these days, however, I've been trading long enough to know these things are cyclical and it's volatility will come back in the future. USD/SEK, USD/DKK and GBP/JPY are volatile as hell, but some good pips in it, if you get it right. I only trade off the 4H with those pairs though..anything less you get whipped to high heaven.

 

[dc2000]

I must admit to being a bit lazy and not keeping an eye on other pairs

 

[zuke]

I must admit to being a bit lazy and not keeping an eye on other pairs

DC..with your obvious skills, you'd treble your account in 1 month!

 

[trendie]

hans123 got stopped and reversed.
cant remember if it then re-reverses for each session trade, but for hans123, its whippier than a whippy-thing from the planet whip.

Vegas: got scary for a while, but there is a 55-pip stop-loss.
as per zuke: 1H can be choppy in comparison to 4H, but its all about balance between whips and getting the reverses earlier, etc.

(have got bored with reading; am watching "Have I Got News For You" episodes on youtube.com)

 

[wasp]

(have got bored with reading; am watching "Have I Got News For You" episodes on youtube.com)

Excellent! I love the ones where they rip into Angus after his 'scandel' and anything with Boris!

 

[dc2000]

DC..with your obvious skills, you'd treble your account in 1 month!

or lose it in a day the market slapped me for 15k Friday it still smarts a little

 

[zuke]

Morning all, I have just taken the following trade:

LONG 1.8660
Stop 1.8618
Target 1.8782
R:R 1:3

Lets see if last weeks' magic can carry on this weeek!

Also have a short on USD/SEK from 3458 (Target 2918, SL 3728)and longs on USD/JPY from 116.75(Target 118.33, Stop 116.20) and EUR/JPY from 148.06 (Target 149.23, Stop 147.61)

Here's hoping for a good week for all.

Targets hit on USD/SEK = +540, EUR/JPY +117 = +657

USD/JPY currently +49
Cable currently +18

I've exceeded my weekly pip target so will have the next two days off so that I dont overtrade.

 

[wasp]

Targets hit on USD/SEK = +540.....

Was that an amazing day or is that not far off usual for SEK?

Never looked at the other crosses really but tempting... very tempting!

 

[wasp]

or lose it in a day the market slapped me for 15k Friday it still smarts a little

Ouch DC, do you want me give you a few tips

 

[zuke]

Was that an amazing day or is that not far off usual for SEK?

Never looked at the other crosses really but tempting... very tempting!

It's not that unusal tbh and the spread is 30 so you need to have nerves of steel when it moves against you!

 

[wasp]

Well its all in relation so as long as the % risk is altered its all good

 

[zuke]

or lose it in a day the market slapped me for 15k Friday it still smarts a little

Ouch! sorry to hear that. Hope you've halved your size this week.

 

[trendie]

zuke; re: USDSEK:

If the spread is 30, and you made 540, is that the equivalent of making 54 on cable with a 3-pip spread?
Do you find USDSEK markedly un-correlated to USDGBP?

I have been pondering the value of placing multiple trades on correlated pairs, since I am just placing the same trade differently, and think it may not be all that its cracked up to be.
( and perhaps is equivalent of placing staggered multiple trades on primary pair, USDGBP )

USDCAD has a mind of its own, although I think I read somewhere it is used as a proxy for oil?

 

[zuke]

zuke; re: USDSEK:

If the spread is 30, and you made 540, is that the equivalent of making 54 on cable with a 3-pip spread?
Do you find USDSEK markedly un-correlated to USDGBP?

I have been pondering the value of placing multiple trades on correlated pairs, since I am just placing the same trade differently, and think it may not be all that its cracked up to be.
( and perhaps is equivalent of placing staggered multiple trades on primary pair, USDGBP )

USDCAD has a mind of its own, although I think I read somewhere it is used as a proxy for oil?

Trendie..it's kinda the same as a 54 pip hit on Cable apart from the fact that it has so much greater volatility which for an options guy like me is great (I trade the spot and FX options).

People will no doubt disagree, but I think the whole correlation thing is overplayed.

As for USD/CAD, the loonie is very much tied to the value of Crude and suffers terribly when there is a large sell off in the Crude Oil pits (as has happened recently with Light Sweet going from 78-65 in a few weeks)

 

[Priceman]

hans123 got stopped and reversed.
cant remember if it then re-reverses for each session trade, but for hans123, its whippier than a whippy-thing from the planet whip.

Vegas: got scary for a while, but there is a 55-pip stop-loss.
as per zuke: 1H can be choppy in comparison to 4H, but its all about balance between whips and getting the reverses earlier, etc.

(have got bored with reading; am watching "Have I Got News For You" episodes on youtube.com)

Hi trendie,

I think he reverses only once during a day if I remember correctly, so go long again !! But then again what do I know, currently long but haven't moved stops yet for fear of stop hunters getting me out !!

 

[dc2000]

Ouch DC, do you want me give you a few tips

something about not standing on the tracks when the express is coming through

Ouch! sorry to hear that. Hope you've halved your size this week.

just trading today as normal then a couple of days off as expecting sideways until Thursday

 

[jonnyy40]

Are you planning to eventually go to £1000/pip Wasp?If so over what timeframe.

 

[zuke]

something about not standing on the tracks when the express is coming through




just trading today as normal then a couple of days off as expecting sideways until Thursday

Even after 11 years of trading, I still get the stuffing knocked out of me when a big drawdown occurs. Thats why I always halve my size the following week. You must have nerves of steel!

 

[wasp]

Are you planning to eventually go to £1000/pip Wasp?If so over what timeframe.

Whoa! £1000 per pip, that'd be a long way off Jonnyy40

My current worst case situation in a single day would be a total loss of 2% so too keep with that % risk I'd need to incease my wealth by a few million to reach a grand a point.

Gimme 3 years :cheesy:

 

[jonnyy40]

doldrums