FX Trading June 25th > 29th

[JillyB]

Maybe forex price activity is only really affected/determined by the institutional (& governmental) transfer of money :idea: .


I can understand why the rise of the home based retail fx trader may not make a difference, because if you trade with a retail broker, you're not trading on the underlying spot fx exchange (be it bloomberg, reuters, EBS etc.)
Therefore it's more or less the same as the concept of spreadbetting Vodafone with CMC - we can see that this is not going to affect the underlying exchange traded Vodafone price activity.....you're merely "betting" on the movements of the underlying instrument based on the bookies prices.

However, if the SB CO./retail spot fx broker hedged trades in the same underlying market, this could have an impact on the underlying.

If you open an institutional account with FXCM, (i think) they say your orders are placed on the underlying exchange, in their name. So i can see why this model of trading may possibly have an effect on the underlying....

Just out of interest FXCM do a Sentiment Fund as well - this is supposed to follow the sentiment of all there traders on various currencies - whether there are more favouring short than long positions etc. They say they can do this as they have so many people trading with them it gives them an accurate overview of the market.

 

[jacinto]

ok, taking +10 on half, which are funding the -10 on the rest. so free trade.

dont fancy catching a stronger pullback on the 4hr chart, and potentially allready in for the move up to make a new high if it is to happen, otherwise, i only lost my time.

edit: should read +9 and not +10

j

stop now to breakeven 166.00 on remainder 50%. 4hr close above this level and 61% retrace, hammer on previous 60min bar, could suggest retracement on 4hr bars is over. expecting either a consolidation or a move back up.

so already have a foot inside if this will move back north, and will add on pullbacks on 30 min bars as they appear. otherwise, if i am stopped out, will wait for next setup. looking for a break of 167.

j

 

[Crap Buddist]

- 5 , now long 1.9988.

 

[Crap Buddist]

what cost me on that short, was waiting... should of been agressive and reversed at 93.

See if this long gets any further.

 

[zuke]

Morning all. Like HB, Ive kinda given up on Cable until I see a significant signal. Currently still holding last Friday's 166.81 short on Euro/Yen and currently +70. Im trailing it using 30M PSAR rather than a set number of pips and scaling out at pivots.

Still waiting for an hourly close below 9980 on Cable, before I get excited.

Stopped out at 66.31 for +50. Now looking for entry for a long. Still no signal on Cable though

 

[jacinto]

what cost me on that short, was waiting... should of been agressive and reversed at 93.

See if this long gets any further.

have you tried out your mojos with euryen, CB?

you should have a look. at times, it helps to get rid of the frustrations of cable.

j

 

[JillyB]

Stopped out at 66.31 for +50. Now looking for entry for a long. Still no signal on Cable though

I'm looking for an entry on the cable on my demo account (only one I can access while at work). I've got a limit order entry set at 2.0000 for a sell - I'm following the market matrix theory of a high being set on the cable and now looking for a downward move.

 

[Crap Buddist]

mmm, notice the spread on USDCHF with Oanda is now 2.5, so we have

Eurusd 1.2
usdjpy 1.6
gbpusd 2.5
usdchf 2.5

gbpjpy 4

good progress from those guys...

 

[JTrader]

gbpjpy 4

good progress from those guys...

Thats a good spread...........its around 10 pips everywhere else........

 

[Offshore Trader]

Nice trade J on the EUR/JPY. I was short on a breakout at 55 this morning and the reversal is very frustrating because I've just been stopped out at breakeven. The problem with running a system is that you can sometimes just see your profits disappear but then again it's the simplicity that I like.

 

[Crap Buddist]

Thats acheap one...........

yeah seems it......If they could squeeze it to 3 , would be awesome.

 

[jacinto]

Nice trade J on the EUR/JPY. I was short on a breakout at 55 this morning and the reversal is very frustrating because I've just been stopped out at breakeven. The problem with running a system is that you can sometimes just see your profits disappear but then again it's the simplicity that I like.

thanks OT,

sorry about your trade. I know what you mean with a system. yet that simplicity takes out opinion from the equation, which is a tremendous suffering i have with my method.

j

 

[Offshore Trader]

You're right J. My opinion normally costs me money, which is why I try to ignore it.:cheesy: The problem is other people's opinions are often correct and therefore harder to ignore but although simple systems do have annoying traits, if they make money in the long term, it's best to ignore what else is going on. I understand why some people don't look at boards like this.

Incidentally, I have breakout levels on cable at 20009 & 19964. Can't believe that in 5 hours neither has been hit.

 

[jacinto]

Incidentally, I have breakout levels on cable at 20009 & 19964. Can't believe that in 5 hours neither has been hit.

probably because the range is already the daily range

at least you are not whipped, because from a typical asian range breakout system, that method would have been triggered long, stopped out, triggered short, and stopped out again for a double whammy, so good for you.

 

[jacinto]

right, day over. keeping stop at breakeven. lets see if late in the evening there is a further move north.

will watch from time to time while i play with my kid. have a good day.

j

 

[Crap Buddist]

-18 short 70, that was hard.

- 20 on the day so far.

 

[Crap Buddist]

This prod's bring the intermediate trend down on my setup .....

Hope we dont get a savage whip up from here.

 

[oiltanker]

there it goes bang on the 55 ema [hourly] or 200ema [15min] .

today it was cable the fan dancer. A flash of this and that and then a 30pt finale?

 

[jacinto]

OT, i assume that didnt trigger you short, right?

edit: assuming 9964 was the trigger, yet it was aftere 16:00 ?

 

[Crap Buddist]

+1, got a signal long, so taken it, although its kin tight.

long 1.9969 run towqards 85 odd ?

1.9968.9 is the actual price , bonus..