shadowninja
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Ikea day, then, for me. 
shadowninja
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JTrader, your posts of late do seem to have a negative feel to them (well, the ones I've read)...
Bear in mind, someone posted somewhere that January is the hardest month. Perhaps time for a rest. Feb's only 10 days away.
Bear in mind, someone posted somewhere that January is the hardest month. Perhaps time for a rest. Feb's only 10 days away.
trendie
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should have traded today, even though the US was closed.
The EURJPY was a beautiful, smooth, 180 pipper short.
anyway, scouring t'interwebnet for new ideas, dunno why, but saw the "X50 5 trend scalper" on FF.
possibly has potential.
essentially, 2 Stochs, (5,3,3) and (14,3,3).
and MACD (5,13,1).
also some "absolute strength" indicator.
when both stochs cross the 50-line, ie, both below, AND MACD shows 1 or 2 bars below zero line, then short, vice-versa for longs.
(havent looked at abs-strength indicator, as I cant figure out what it does or how its calculated, so dont want to use it till I do)
markets have been pretty trendy, so difficult to tell how it performs in choppy markets.
anyway, thought it was quite neat even without abs-strength.
The EURJPY was a beautiful, smooth, 180 pipper short.
anyway, scouring t'interwebnet for new ideas, dunno why, but saw the "X50 5 trend scalper" on FF.
possibly has potential.
essentially, 2 Stochs, (5,3,3) and (14,3,3).
and MACD (5,13,1).
also some "absolute strength" indicator.
when both stochs cross the 50-line, ie, both below, AND MACD shows 1 or 2 bars below zero line, then short, vice-versa for longs.
(havent looked at abs-strength indicator, as I cant figure out what it does or how its calculated, so dont want to use it till I do)
markets have been pretty trendy, so difficult to tell how it performs in choppy markets.
anyway, thought it was quite neat even without abs-strength.
JTrader
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Apologies if i have alarmed you. I was not aware that my posts had generally become negative, as this has not been the intention.
My only problem with cable is that it always looks nice in backtesting/historical chaqrts. but then when i come to get stuck into trading it, the story is different.
As regards having a rest as February is only 10 days away. Well this would reflect the fact that trading is a pretty flimsy career IMO. Its a good job doctors, nurses, teachers etc. cannot say the same. Else where would the world be!
shadowninja
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Joy of Test Accounts! I use Oanda to forward test my strategies.
As for taking time off, that is the thing about trading. We don't have to be in all the time.
As for taking time off, that is the thing about trading. We don't have to be in all the time.
trendie
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on second thoughts, the X50 may not be all that!
eyeballing over past few days, the MACD zero line cross-over tends to always match the stochs cross-over, so there may actually be a false-confidence correlation.
hardly any circumstances where they dont match each other.
as always, do your own research and extract the good bits for yourself.
eyeballing over past few days, the MACD zero line cross-over tends to always match the stochs cross-over, so there may actually be a false-confidence correlation.
hardly any circumstances where they dont match each other.
as always, do your own research and extract the good bits for yourself.
FXSCALPER2
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The thing is, whenever I see, which I do not any more, some line crossing some other thing with RSI and bells married to MACD and diving under ADX on the way to the 2456 EMA, it makes me yawn. I am so prejudiced towards that stuff, I can't even read them.
Watch the EURJPY for some good R:R trades. It can fall a long way, especially if the US continues down at the open.
darktone
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Be a nicer short at 160+! :whistling
darktone
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It was a total tic comment GJ, I cant say i watch it. But at a glance id be interested for purely technical reasons if it were to go higher.
All the best with it mon.
bbmac
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gbp fundamentals
Mervyn King hinted at rate cuts in a speech to the IOD in Bristol last evening saying that rates at 5.5% were probably weighing down on demand, and that inflation will probably be significantly above target in 2008 but we should see a medium term return to target.
Of course, unlike the Fed that is tasked with steady growth and inflation control, strictly speaking the BOE/MPC's remit is narrower being just cpi inflation to a treasury agreed target. His speech last evening invoked the possibility of a future wider brief.
He talked of the dual threats of the credit crunch that was staretd by the u.s sub prime mess and the rising commodity prices, in a ' from the west/east winds' analogy, extending the analogy by suggesting that the vessel in which we would navigate the oceans (economy) tis basically sound.
As was commented later by BBC2's Newsnight panel, with little room for fiscal intervention (unlike the U.s) this necessary correction away from the biais of consumer spending is a necessary part of any cycle. Interestingly the former tory Chancellor Nigel Lawson made the point that Chancellor Brown's rhetoric about the end of boom and bust under labour had fooled everyone into thinking that economic cycle's no longer exist.
The panel generally agreed that the effective £ excahnge rate would continue to generally fall, and that we are officially in a bear market re equities.
Interestinging times ahead.
Mervyn King hinted at rate cuts in a speech to the IOD in Bristol last evening saying that rates at 5.5% were probably weighing down on demand, and that inflation will probably be significantly above target in 2008 but we should see a medium term return to target.
Of course, unlike the Fed that is tasked with steady growth and inflation control, strictly speaking the BOE/MPC's remit is narrower being just cpi inflation to a treasury agreed target. His speech last evening invoked the possibility of a future wider brief.
He talked of the dual threats of the credit crunch that was staretd by the u.s sub prime mess and the rising commodity prices, in a ' from the west/east winds' analogy, extending the analogy by suggesting that the vessel in which we would navigate the oceans (economy) tis basically sound.
As was commented later by BBC2's Newsnight panel, with little room for fiscal intervention (unlike the U.s) this necessary correction away from the biais of consumer spending is a necessary part of any cycle. Interestingly the former tory Chancellor Nigel Lawson made the point that Chancellor Brown's rhetoric about the end of boom and bust under labour had fooled everyone into thinking that economic cycle's no longer exist.
The panel generally agreed that the effective £ excahnge rate would continue to generally fall, and that we are officially in a bear market re equities.
Interestinging times ahead.
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Cable
Hi everyone,
I have been trading cable only so far this year and as a strat, trade a breakout from the asian high/low-generaly placing orders round about 6.00am. Until this week its been going great guns- with wins of 15 pips most days until this week which has resulted in 1 win and 4 losses on the scorecard and the first 2 consecutive losses since September of last year-not good!
I know that this week has been choppy but am having difficulty pinpointing from a charting angle the difference between this week and say last week and the week before.
I'm basically trying to make some sense of why its gone wrong this week!
Is there anything I am missing here that should be staring me in the face or is it purely down to the volatile nature of this week?
I dont generally use indicators at all save for a single MA- does anyone use anything that can help show changed conditions form one week to the next?
Any help/ideas would be gratefully appreciated!
regards,
Mark
Hi everyone,
I have been trading cable only so far this year and as a strat, trade a breakout from the asian high/low-generaly placing orders round about 6.00am. Until this week its been going great guns- with wins of 15 pips most days until this week which has resulted in 1 win and 4 losses on the scorecard and the first 2 consecutive losses since September of last year-not good!
I know that this week has been choppy but am having difficulty pinpointing from a charting angle the difference between this week and say last week and the week before.
I'm basically trying to make some sense of why its gone wrong this week!
Is there anything I am missing here that should be staring me in the face or is it purely down to the volatile nature of this week?
I dont generally use indicators at all save for a single MA- does anyone use anything that can help show changed conditions form one week to the next?
Any help/ideas would be gratefully appreciated!
regards,
Mark
FXSCALPER2
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You have got admire the ECB on their bluntness. This fellow says rates still 'accomodative' and expectation of a cut are 'wishful thinking'. I liked it when he said, 'no danger of credit crunch' because banks have capital. Huh?
Love the ECB. I remember when we Brits were saying the euro is rubbish and all that.
bbmac
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gbpusd
Events might overtake this analysis even as i write it.
the screenshot shows how congested this 9527-9660 area is on 1hr. Price is currently trading near the tyop of it at 9632bid atm. Mni say offers are at 9645/55
9658-66 area is a decsending res t/line on 4hr, 9652 being the already breeched 76.4% of the upmove 8514-1162
Above this and 9684/87 holds the 23.6% of 9832-9336 and the 76.4% of 9791-9337. Dly R2 pivot at 9684.
Events might overtake this analysis even as i write it.
the screenshot shows how congested this 9527-9660 area is on 1hr. Price is currently trading near the tyop of it at 9632bid atm. Mni say offers are at 9645/55
9658-66 area is a decsending res t/line on 4hr, 9652 being the already breeched 76.4% of the upmove 8514-1162
Above this and 9684/87 holds the 23.6% of 9832-9336 and the 76.4% of 9791-9337. Dly R2 pivot at 9684.
