Forex - stopped out

[neil]

What was the bid-ask spread difference?

3 pips

 

[henry766]

i'm interested in this pair trading commanderco , usually one is played against the other, not both same way so profits can be taken halfway , or am i missing the point?

 

[commanderco]

any one left with the will to live?

We are all off to a good week here, I can feel it in my bones

 

[Texas_Hedge]

The word is on the Euro....A big buyer may emerge later today...

 

[neil]

No...No....try this instead

Excue me while I pop out to the kitchen and cut my throat

http://www.trade2win.com/boards/showthread.php?t=16292

:cheesy:

 

[henry766]

is anyone makin money?

 

[Anonymous]

If,
Euro/USD
entered: 1.2068
stop: 1.2060
bid-ask: 3 pips

The stop should be 1.2058 to 1.2055 for intradays, me thinks.

From 1.2068 to 1.2060 only gives 5 pips fluctuation allowance, assuming the bid-ask doesn't widen when trading becomes volatile, like to 5 or 7 pips wide.

 

[commanderco]

i'm interested in this pair trading commanderco , usually one is played against the other, not both same way so profits can be taken halfway , or am i missing the point?

I am a momentum trader OB/OS on CME IMMs.
I try for the TP´s ( turning points) and enter the market before others.
If I am right, then the others provide the juice to propel me along.
If I am wrong, I will often wait in the market without a pstop waitng for the turn
while the market makers lunch out on the stops.
Sometimes I will take futher positions if the market has moved quickly on no news.
Essentually I am trying to enter as close to the TP as I can ,given that I do not know accurately where it is.

However, when I am initially wrong, it is not because I screwed up, it
is because the weaking and changing momentum has not developed
into a change of direction as yet, but it will have left a spike in most cases
and that spike is my short term profit on the first contract ...
in deedie, it is mine all mine.

 

[henry766]

i'm in a similer vien commanderco , though naturally far more sophisticated!!!

 

[henry766]

i see , hence the trading of two contracts , but i'm not sure thats same as pair trading

 

[Texas_Hedge]

However, when I am initially wrong, it is not because I screwed up,

LOL

 

[commanderco]

i'm in a similer vien commanderco , though naturally far more sophisticated!!![
i see , hence the trading of two contracts , but i'm not sure thats same as pair trading/QUOTE]

I meet "a sophiscated" once ... somebody told me that they are a dying breed.
I do hope you are doing your bit for the breed!!!

Pair Trading ... That is what I call it ... I just made it up

 

[henry766]

yeh well said , it's like those systems that are so profitable but apparantly also have large drawdowns , thanks but no thanks.

 

[henry766]

well people do trade "pairs" as they call it , one stock against another , useful to keep mkt neutral and can also potentially create a lot of "pairs /mkts " to trade , as for my sophisticated joke , was said with my sophisticated tung ein my sophisticated cheek!!

 

[commanderco]

well people do trade "pairs" as they call it , one stock against another , useful to keep mkt neutral and can also potentially create a lot of "pairs /mkts " to trade , as for my sophisticated joke , was said with my sophisticated tung ein my sophisticated cheek!!

"Pairs" .. sounds like a brokers dream.
got the joke!

 

[henry766]

if it's a broker making money that's ok , if it's a spreadbetting firm then your in trouble , joking and bravado aside, pairs i believe can be a usefull tool , if you trade a pattern that is rare , say comes up once every 100,000 bars for example , if you pair all of s&P 500 you get 250,000 ish potential mkts per day , enabling a very choosy attitude to ones trades , how well they correlate is a different matter , but i believe there is some correlation there , in the same way there is with fx crosses.

 

[neil]

True..Anon

If,
Euro/USD
entered: 1.2068
stop: 1.2060
bid-ask: 3 pips

The stop should be 1.2058 to 1.2055 for intradays, me thinks.

From 1.2068 to 1.2060 only gives 5 pips fluctuation allowance, assuming the bid-ask doesn't widen when trading becomes volatile, like to 5 or 7 pips wide.

Good points - Yes - barely room for a hiccup. Just thought I could get away with a very tight stop - well, I wont try that again

 

[Zenda]

Just read the question

The answer Niel is Yes!

 

[henry766]

in hindesight stops have to be the easiest trades we ever make .

 

[neil]

Harbour lights

The answer Niel is Yes!

Thank you Zenda. Sun shining in Falmouth ?
Neil