It's All About The Pips...

[badger1777]

eye - ah! ouch Julie, that's an extreme way to miss a bad trading zone! hope all well now, and we'll see you back after your enforced time away, be sure to say hi when you're back, there will be a lot of souls waiting to say hi.

Cheers

Mike

 

[danarm]

Morning all

Julie you have been missed...I do you hope you have a speedy recovery.

Erik as usual spot on - This month will be key! That WS30 weekly chart looks very interesting. A double bottom potential in the making but that is 2000 pips lower. Will get James to say a few words on that on Tuesday.

Hope you are all having a good weekend. I have got up early with the intention to go for a run. I use to love running but trying to get back into it is the hardest thing i have ever done. Saying that i am probably 4 to 5 stone heavier now than when i use to enjoy it.

Argh...Really don't want to go but my dog is sitting by the door looking at me now.

Speak to u later

D

 

[poborsky]

An interesting analogy;

Imagine you're walking in a village, and you encounter a group of people - an American, an Englishman, an Irishman, a Spaniard - who are lying by the roadside. You stop and ask them what's the matter.
"We're broke and we've got a hangover, but boy did we party!" is the answer.

As you walk a bit further, you come across a Chinese, a Japanese and a German, sitting at a table and carefully sipping a glass of water. They have pained looks on their face, and you inquire why.
"We're landlords. We own pubs here in this village, and business is bad. Sales are down because the village drunks are broke.".

 

[ekanters]

What to do with your money during a crisis

Hi guys,

I wanted to keep my money safe and instead of putting it in the bank I placed it under the bed. I thought I would sleep better but I can tell you this is not the case.

Erik

 

[eraserhead]

hello guys,
why the room is empty? Am I missing something? Here in Italy everbody is working

have a great week

 

[foredog]

Bank holiday UK and US today.

 

[viclondon]

I have a question.
I have been using Tradestation for charting purposes and I think it is very good, but I find that my data are not 100% consistent with the rest of you, so I am thinking about getting Metatrader with the monkey template.
As brokers I use TS for future and Interactive Brokers for Forex and options and I am happy with both.
I do not have access to the Dax, Oil and gold futures and would like to be able to trade them (maybe even through spreadbetting if that is feasible).
I have done a search about Metatrader and I am under the impression that cannot be acquired standalone, but only as a package with a spreadbetting firm (which would be fine for me).
So, could you please tell me the best way to get a version of Metatrader perfectly consistent with what you guys use and including Dax, Oil and Gold futures?

 

[bobthebuilder]

Hi Vic,
If you go to the ODL platform and download their demo account, it is all on there. When your demo expires , just change your email address slightly and open another account. Seems everone does it.
On the Metatrader platform, go to Market watch, right click and press- show all. Gold Oil and Indecis will all be there.

CS

 

[viclondon]

Sounds great Bob. Many thanks

 

[danarm]

Afternoon team

Sorry been a busy boy again today...

Some took CABLE short earlier this am which was great to see..I mentioned a 70 bid as only wanted a 50 pip risk for newbies but didnt quite reach it. Shame as was a great play...

Managed to get a few short b4 figures out at 3pm from 1.5865, 70 & 75 with stop at 85 above resistance. Banked on way down to the 4hr 20ma at 1.5825 and then got stopped on balance at 85 with DOW rallying giving us weak USD across the market.

Wont long it up here ahead of the 1.5946 resistance and 1.6000 level.

Cheers
D

 

[danarm]

The market obviously had an enjoyable, eventful and tiring weekend muchlike myself. As a result we both had a pretty sluggish weak start andthen buoyed by a stronger than expected consumer confidence number wesprung back into life. Spread still ended up wider on the day in CDSland but well off the wides. Cash was mixed but for choice tighter onaverage as the -ve basis continues to contract to more sensible levels. My thoughts on the world haven't really changed. I think a large partof last years huge drop in capacity, growth, consumer spending etc waspsychological after Lehman's collapsed. I mean it was common placeamongst city ladies/gents that they were not going to go on a niceholiday, or by that dream car or by that new Titleist driver. This wasof course down to people's expectation of the future despite the presentbeing ok. We are currently in a phase that is completely the oppositeto where we were 6-8 months ago. I have bought my new Titleist driverand I am off on holiday in a few weeks. The world certainly appears tobe better however is this reality or is this a David Copperfieldillusion/ Jedi mind trick? I think you know my answer by now, of courseeveryone is feeling more confident we have just seen one of the largestequity rallies in history. As always I have a "however", has this gainin confidence or expectation translated into anything real. Are houseprices stabilising, is global trade increasing are jobs being createdagain? Only time will tell, despite my new Driver I am still notconfident of hitting the fairway and I am also not confident we are pastthe worst!

Mr P.....

 

[danarm]

Good morning all

FTSE and DOW Future are in a channel with a potential triple top forming. What happens when the DOW re tests 8560 will be key for the USD so keep a firm eye on this level.

GBPUSD keeps breaking new highs and is now sitting firmly under 1.6000. Not easy to trade here unless you short with a stop above the psychological 1.6000 resistance level.

Interestingly EURUSD hasn’t broken previous highs on the 4hr chart. Looking for the DP to break and test the 4hr 20ma. Will keep you posted on any short in EURUSD.

Otherwise until these Indices give me clear direction eg a break I am going to hold off on USD related currencies. If the DOW breaks 8560 then forget any USD strength in this market…

Thanks
Dan

Yesterday, quite surprisingly we saw the break of the 4hr 50sma which has not only stopped out our longer term position but has now demonstrated a definite change in sentiment for the time being.Anywhere around 95.00-95.20 would represent a good opportunity to go long to the daily 20 some 100 pips higher.Naturally with UJ on the right side of the other yens, which have all looked long on the dailys for quite some time, we are now witnessing breaks above weekly 50’sCADJPY from Friday now almost at the target with 300 pips in the tin.This is a game of patience today. Awaiting these all to pullback to the m.a’s so we can go long off these averages.Not interested in shorting any, and am prepared to sit these pairs out. EURUSD short looks the best of the bunch.

Z

 

[danarm]

Morning

Made 25 pips on way down in EURUSD and then cut balance at breakeven.

Lost on Dax 1st thing but short again now at figure with tight stop.

Not an easy market and to be honest been frustrated

I find in weeks that the setups are hard i don't overly trade. Be patient and be happy to have no position. I am better off having a quiet 3 weeks and not trade, than lose shed loads of pips in tough markets. The good weeks are just round the corner and last summer (if i remember correctly) there were thousands of pips to be made.

D

 

[jel31]

Morning

I find in weeks that the setups are hard i don't overly trade. Be patient and be happy to have no position. I am better off having a quiet 3 weeks and not trade, than lose shed loads of pips in tough markets. The good weeks are just round the corner and last summer (if i remember correctly) there were thousands of pips to be made.

Yep, really messy charts, even my usually-favourite CABLE is not playing nicely so I'm trying to be sensible and wait it out.

Very hard to do though, being super-cautious is all very well but it gets mighty frustrating after a while. I'll just have to switch everything off and walk away before I go mad and put a load of orders on ha ha!

P.S. looking forward to the summer...

 

[danarm]

Enjoyed the school session...

Watch Triple tops in Indices & EURUSD short...

D

 

[badger1777]

Yep, really messy charts, even my usually-favourite CABLE is not playing nicely so I'm trying to be sensible and wait it out.

Very hard to do though, being super-cautious is all very well but it gets mighty frustrating after a while. I'll just have to switch everything off and walk away before I go mad and put a load of orders on ha ha!

P.S. looking forward to the summer...

That's it Julie - discipline and patience to hold off, how hard it is when you feel you're supposed to be doing something called trading to bring in the pips! I've done some classic impatient trades this last few weeks and experienced the lessons they teach! On the plus side, important lessons for us less experienced traders on different conditions.

Mike

 

[danarm]

Hi

EURUSD trying its hardest to make a move lower. For those short stay short as long as it remains under the resistance line now at around 1.3980 region.

See u tom.

D

 

[danarm]

If you looked at my blotters (3 pages) you would think that the markethad been hugely volatile with massive volume going through in the streetand in house. The reality was actually different. Spreads were a tadtighter thanks to the govy pukefest last night however prices aren'treally moving and interestingly CDS continues to remain very well bidrelative to cash (ie basis tightening).Essentially at the moment it feels as if we are jockeying for position,I am seeing the odd smart/brave account scaling out of his/hers cheappurchases from the end of last year or the beginning of this. Theunderweight guys continue to top up and the locals seem to be netsellers for choice. When I look at spreads I just cant get excited on avalue basis aside from the fact the cash still looks cheap to CDS and ascurves have begun to normalise I see no reason why the basis doesn't dothe same at some point. Everyone is looking for a trigger for the nextpuke and every mini sell off at the moment is met with yet more buyingwhich is a positive sign. The only concern I see out there right now isthe ability of governments to continue to fund these huge deficits whichat the moment is being shrugged off by the market. This evening is all about the Champions League final, my beloved Arsenalyouth team didn't make the final so as an Englishman naturally I'll becheering on Barcelona, lets hope it's a goal fest.

Mr P.....

 

[danarm]

Good morning
Congratulations to Barcelona...If we can take any good news from Man United losing is that Graham will remain quiet today.
Wall St as expected has tripled topped around the 8,500 level with DAX & FTSE both falling from their respective highs. Consequently the USD has strengthened and EUR and GBP have both weakened. Wall St still has to pass through its major support around the 8,190 level and this break will determine whether it has further downside potential. Wall St Future could retrace back a little this am so we need to be careful with the USD related currencies. I personally see a small retracement and then using the 60min trigger a larger move lower. James will keep you posted...
CABLE
• How much higher could CABLE go without a retracement!!!
• GBP is now back down and sitting comfortably on the 4hr 20ma.
• I would like to see a small move back up towards the 60min 50ma before a selling opportunity in GBP.
• Use the 60min trigger.
EURUSD
• EUR is certainly weaker than GBP at present but GBP is overdue a large retracement.
• Again i would like to see a move back up to the DP before a selling opportunity in EUR.
• Use the 60min trigger.
I have to go to hospital today with the wife so i will catch up with you this afternoon.
Take care
Dan

 

[danarm]

Hi

Been in hospital most of the day... I hear there were a few losing trades this am but as i entered the room at 2pm it was great to see many making them back in USDCAD and EURUSD with the USD weakness in the market b4 the DOW opened.

I still fancy DOW lower, dragging CABLE with it and will remain that way untill it breaks back above the DP. I have a cheeky short on just below the DP with a tight stop above... I have only come back and couldn't resist so lets see if the DOW tests the lows at 8190 bringing some USD strength into the market.

You know my thoughts as of today and lets see if this DP can hold as resistance in CABLE. It will cost me under 30 pips if i get it wrong...

Cheers all...Still a tricky market if i say so myself!

Cheers
D