FX Trading June 18 to 22

[Offshore Trader]

Still short here and EUR/JPY but finding this market impossible at the moment. If it pops higher and takes me out then that'll be it for today, I'm not taking a long (which is probably the green light for cable to blast through 2.00 this afternoon....)

 

[zuke]

Still short here and EUR/JPY but finding this market impossible at the moment. If it pops higher and takes me out then that'll be it for today, I'm not taking a long (which is probably the green light for cable to blast through 2.00 this afternoon....)

You and I are both in the same boat it seems. Im short on Cable from 9924 and short from 165.41 on EUR/JPY. If Im stopped out of both, I think Ill call it a day. Pretty tough finding pips so far today, although managed to bag some earlier on Euro/JPY

 

[oiltanker]

triggered order back long. [bangs head on table].

moved stop to b/e.

 

[oldstokey]

Well it's all frustrating at the moment, went long on cable at 26 just before the news, get 15 pips in profit, move stop to breakeven and promptly get stopped out. Nothing lost this time. But this seems to be the story of all my trades at the moment if only I got out at break even each time then no prob, but most of the time I am leaking pips and it all adds up :-(

Interesting the discussion on tighter ranges at the moment. My entries have usually been good for 20 pips - usually take half there then move stop to b/e and let rest ride. However at the moment I think I need to adjust and take profit at 15 pips maybe even 10 otherwise I am going to start racking up too many flat / losing trades.

Is this lack of range /momentum the new reality? I really hope not.

Here's to a bit of follow through this afternoon!

 

[Crap Buddist]

mmm, fickle. My agro is mainly comes from reversing and judging current open position against o.k. you need to change here but are you gonna get a better price, which will reduce open loss and give better entry.

On that long ive taken 1.9927, took a loss of -12 from the short, but just looking at the bars holding up, I thought they gonna drive it higher before lower.

Miff's me off a bit.

And now its dithering around , , but still looks upside to me. My steup will hold for trend , unless we get some sustained volatility boot it the other way. Or many bars of what cables been doing alot of recently , I'm gonna call it "Tokyo Drift" :cheesy:

Pretty miffed i didnt bang a short in earlier too 1.9921, had the chance, I was looking at it. I wanted 23/25 .

Anyway.. onwards and :arrowu: :arrowl: :arrowd: .


looking for 1.9910 to hold.

 

[jacinto]

CB, you must definitely be the last guy at the pub when they start kicking people out. :cheesy:

good luck. these ranges make me think i got to get a scalper hat on.

 

[Crap Buddist]

CB, you must definitely be the last guy at the pub when they start kicking people out. :cheesy:

good luck. these ranges make me think i got to get a scalper hat on.

getting too old to keep up with the youngsters Jacinto. 4/5 pints and im looking for food these days.

Never got my head around the people who can sink 12/15 pints and still able to take on more.....

 

[2be]

The tight range on cable is related to the market position more clearly visable on a daily chart where there is a strong historic resistance around 9925 and 9972 yet the cable wants to print some bars at 2000 level even if not for a long time. The USD has been growing in strenghtfor the last 5/6 weeks and the EUR/USD has not been able to brake the upper boundry of a channel to the upside for some time now, today battling the round 3400 level without conviction, even after a week data coming from the US.

 

[trendie]

its got to be down now, surely!

formed a high and rejected around 7:30.
then later spike slightly above, and also rejected.
concern now is its 4-pm, and no real confirm of either way.
had cable in short-mode on 30-mins, and beginning to switch to up.
if it remains here for rest of day, day will end as an inside-day, neither breaching high or low of y'day, but possibly closing in upper-half of bar.

on the dailies, the pretty red-dots are showing, so overall down.

 

[Kevin21]

i went long on cable at 1.9926 and long on eur/usd at 1.3398

 

[oldstokey]

Tempted by a short signal on cable now BUT @ 1.9920 it's a bit close to the pivot point AND a trip south earlier in the day failed to have legs and burned me. Been kicked around by Euro/yen as well. So I think I shall call it quits. Hope you guys are having better luck than me today.

 

[Kevin21]

today has been a crap day for me. My stop on the dow booted me out 13450, and i'm around 30pips down today on forex. Gonna go play my guitar now, i've had enough...

 

[Offshore Trader]

Given up for the day and taken hits on both cable and EUR/JPY. I don't have the skill to trade this type of market and if we don't see some volatility soon, I will have to exit because the profits just aren't worth the effort and the risk/reward ratios are all wrong.

 

[Kevin21]

Exactly how i feel, you hit the nail on the head there. I feel like i'm a generation too late, and that i'm doomed to be wasting my days looking at flat graphs as well as risking hundereds to make a tenner.

 

[oldstokey]

Well, sounds like a few of us are getting wrong footed in this current market, lots of talk of the good old days etc.

I'm curious as to how many are perhaps losing a bit of faith in their systems. I have had a frustrating day so am a bit filled with doom and gloom. Am I over reacting? We all have our share of bad days. Is it more than that? Is it the $2 effect? Is it solely the tight range affecting everyone, if so that has to be temporary? right?

What's the general feeling out there?

Richard (I'm alright really just venting!!)

 

[oiltanker]

3 trades. 2 small loss one break even. if i had set limits for 10pts [instead of pivots] on each trade i would be up 30pts but that is not the point of trend trading strategy i guess.

so what did i learn?

today was not a trend day.
it was a 15 min chart day. [but then i would have to watch it all day]
if it goes your way it goes your way quickly.

is an upside inside candle bearish? [on daily]

 

[jacinto]

Given up for the day and taken hits on both cable and EUR/JPY. I don't have the skill to trade this type of market and if we don't see some volatility soon, I will have to exit because the profits just aren't worth the effort and the risk/reward ratios are all wrong.

i know what you mean, and particularly for a method like yours. you have said before many times about sticking to a system, and i think you do that quite well.

the volatility will come. but, as you say, if it keeps like this, we may all have to adjust our trading strategies to get the profitability right. sorry to hear the double hit.

 

[oiltanker]

anyone do usd/cad today? i wish i did.

there was a nice b/o trade there or if you like [for me ] a nice set and forget pivot-r2 order for 30- 40ptsish

the only other one i can find with half decent chart is usd/chf

are we in holiday mode today? it was ladies day at ascot 70,000 people up there apparently, all dressed up like 'penguins' [the men i mean!].

 

[trendie]

commiserations to you guys.

in a perverse sort of way, it makes me feel better in that I'm not the only one having concerns about my methodology and recent experiences.

 

[jacinto]

anyone do usd/cad today? i wish i did.

there was a nice b/o trade there or if you like [for me ] a nice set and forget pivot-r2 order for 30- 40ptsish

the only other one i can find with half decent chart is usd/chf

are we in holiday mode today? it was ladies day at ascot 70,000 people up there apparently, all dressed up like 'penguins' [the men i mean!].

well, yes, there was the ascot stuff. probably that helped me, cause i had to drive my wife. live too close to it unfortunately.