FX Trading June 25th > 29th

[2be]

thanks to nkruger and options indices thread, there is the DAX and Ibex to trade.
dont like the Ibex, 6 pip spread.
but the Dax gives 80-100 pips a day with a 2-pip spread (CMC), which is comparable with cable on a good day.

only down-side is being wary of opening, due to it not being a 24-hr market.
(can mess with my MAs smoothness)

Hi Trendie, trading indexes is slightly different than trading FX (IMHO). First of all as you have mentioned on spreadbeeting platforms what is traded is the continus future of the given index. So the daily closes on these platforms are different to the real closes of these markets. Secondly and due to the above one has to take into account possibl two spreads, one on a trading platform, and the other one which is made of the difference between the future of the given index and the real price at the given moment of the given market. The future usualy follows the real price with a difference of 5 - 15 pps with the exception of the first daily opening of the real market. Needless to say that this second spread of the futures is almost always against your interest. Because of the above if one wants to trade the indexes the following needs to be considerred: having another feed with the real price of the index, getting to know the rythm of the particular index and adjust the time frames and time frames gearing, if trading with the multiple time frames. Indexes offer a real apportunity, and so do commodities and metals. A friend of my has traded FTSE 100 very sucessfully, but one has to spend time and effort in getting to know the particular market.

 

[2be]

Yahoo provides FTSE and DJIA real prices on the button so one can compare, the labour intensive method; there also have been some good studies relevant to DJIA timing on daily and weekly basis

 

[Crap Buddist]

Im still out here, took a loss on the short , currently long 2.0047, just gonna roll with these intra sessions from now on. be nice to see it pack on 100 from here

looks like old cable is having to fight its way up... but up its going, when will other shorts throw in the towel ?

 

[Crap Buddist]

short 57

well not much , but long now 52

 

[Crap Buddist]

see if its got the legs to push towards 2.0075 in the next hour.

Gawd knows if its got the ummphh to get there but ya never know.......

 

[Crap Buddist]

Kin ell.

Not counting chickens but there's some juice in this dog yet....

Read some squawk about flat on failure at 2.0075 so if it gets there might exit... I'll hold likely though till it fails.... or I get all twitchy.... as I'm short terming these trades

 

[Crap Buddist]

mm, lost patience with it exit at 64. still a good little trade

twilight zone time of week too...

 

[Crap Buddist]

I think what this last week has shown to me is stick to short term, for me anyway. What prompted me to switch short term was this morning watching 3 trades slip by against my longer term short.

+19, + 29, points from a 50 point range and a scratch thats when I thought stuff this and took 3 tades +10, +5 ,+ 12

total 27 points now since the range since 1.30 is 29 points... its crystal clear to me , So cables disgusting range recently has helped me see this.

Right i'll stop hogging this thread.

 

[2be]

I think what this last week has shown to me is stick to short term, for me anyway. What prompted me to switch short term was this morning watching 3 trades slip by against my longer term short.

+19, + 29, points from a 50 point range and a scratch thats when I thought stuff this and took 3 tades +10, +5 ,+ 12

total 27 points now since the range since 1.30 is 29 points... its crystal clear to me , So cables disgusting range recently has helped me see this.

Right i'll stop hogging this thread.

HI CP, dont worry about hogging this thread, hope you got your profit on the day's high so far. Thought to post this link fro forexmentor, I have started with them about 5 or 6 years ago with FX http://www.forexmentor.com/coaching/weeklyexample/062907.html
Wishing all to have a great weekend

 

[Phil Mibbutz]

Hi CB. I've recently been coming to the opposite conclusion about trading styles. Short term used to work for me, but now only adds to the grey hair and stress level. A lot of effort for not much reward. Admittedly it was a fluke, but at the moment I'm still holding my week-long long with a gradually nudged up trailing stop. Might just let it run until cable reaches 2.1 somewhere around August Bank Holiday!

 

[a_gnome]

I think what this last week has shown to me is stick to short term, for me anyway. What prompted me to switch short term was this morning watching 3 trades slip by against my longer term short.

+19, + 29, points from a 50 point range and a scratch thats when I thought stuff this and took 3 tades +10, +5 ,+ 12

total 27 points now since the range since 1.30 is 29 points... its crystal clear to me , So cables disgusting range recently has helped me see this.

Right i'll stop hogging this thread.

Good trading CB especially on a day like today.

 

[Hook Shot]

Just a thought

Euro-Yen ~ 600pip round trip in last week (Fri-Fri)
167 down to 164 then back to 167 apprx
Quite a few decent intraday swings too...... as A Gnome has mentioned