JTs realtime trades

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Very sideways these past two days JT on the 15 min its been one up bar one down bar with occasional 3/4 bar run... no real inclination to go up as the gains rapidly come off.

Looking to get into GBP for a longer swing type trade. Am not yet convinced that this down move has much in it until it breaks 1.5880. Ive been long euro/$ for a while and looking to close out see no reason too yet though.

Euro/$ looks like a very tight range and a BO long 1.1270 or short 1.1165 but todays low looks a better short entry @1.1175

What ever happens i think there are a lot of people reluctant to trade due to the date people are waiting for something to happen... daft really IMO
 
So JT- that is hell of a margin- considering that the future needs about 800 $ to contrl one contract- problem is that the future on GBP has the same spread of 4 and obviously due to liquidity- slipppage could be a problem

I will check with the firm
 
Closed out long positions on eur/usd, eur/yen and short position in usd/chf yesterday. These were position trades which had been open for a couple of days. Closed out at breakeven as they seemed to be going no where so no damage to capital.

My only remaining open position is long gbp/usd which is also looking likely to be stopped out at breakeven.

I agree re sideways market, all pairs I track are proving difficult to trade at the moment on my timescales. I have not had a trade meet my profit target in the last 10 trades now!

However, I am still up about 15% of starting capital in the last couple of months I have been using my current methods so not too downhearted yet.
 
Hi Darren,

If you can make 15% every 2 months poistion trading then I certainly wouldn't worry!

JonnyT
 
Nice one darrenf, agree with JT's comments

What time frame are you looking at JT?
15min 100ema showing res for now
 
Doubt much will happen prior to US retail sales later today. If above (>+2% core >+1%) or below (<1.1% core <0.3%) consenus (+1.6% core +0.7%) then euro expected to see 1.1050/1.1250 respectively. Consensus will see a slightly firmer dollar too given last week's non-farm disappointment.
Also first look at Sept Michigan confidence due later.
 
Stopped out at 1.5910 for -21

I really an useless at trading, no one should listen to anything I say.

Down -14 on FX and -29 on the Bund over 3 days.

Looks like I will not be giving up the day job.

JonnyT
 
Keep trying, I dont think you are as bad as you have said and it is a fine line between profit and loss.
 
Jonny....didn't mr.charts teach you how to trade the US, or have i got u mixed up with someone else??
 
Wow

what just happened on GBP/USD (and other pairs), it just went up 40+ points in a matter of minutes.

Is this news related or just a technical break out?

Am still long and holding out for more upside, if not today early next week.
 
Bit of both at a guess but no marks for me to say that really lol

S&P dived too... 1330 was the time so a flood of us traders coming into play the game... gold also down gbp going up so usual transfer of money from one to the other... just a guess with hindsight
 
Have just looked back on previous posts.

Thanks for the encouraging comments JT and Newtron. It's early days yet and I'm not expecting to keep up that level of return on a consistent basis. However, it is good to see my system running a profit, hopefully it will continue. I plan to analyse my trades fully after 3 months to see if adjustments to stops, profit targets, position size etc will help improve profits/ reduce drawdowns.

My main concern at the moment is a long string of losing trades so I may look to see if reducing profit targets will improve my hit rate without significantly reducing profits.

Time will tell.........

Sounds like you could do with some words of encouragement at the moment JT. Hope things improve for you. Your posts always seem to make good sense. I always make a point of reading them. Stick with it!
 
darren,

So that u dont get shocks on news, i suggest u checkout briefing.com which gives the times for reports- BUT they are NY times- so add +5 hrs- u cannot ignore these as they do move mkts on a short term basis
 
The blip at 1.30pm was caused by news. Retail sales in Aug at 0.6% against market expectation of 1.3%.

Sept consumer sentiment is announced at 14.45, look for a figure of 90.3.
 
Hey all

This is my 100th post which I think makes me a senior citizen of the T2W boards. Do I get a bus pass or gold clock?

Thanks for the tip Al. I will have a look. However, I'm not too concerned about these sort of moves as I do not trade short term (ie intra day). I just happened to looking at the chart at the time and was curious to find out what caused it.

The move does seem to be holding quite well now though.

The only moves that tend to cause me problems are central bank intervention such as BOJ over the last week or so which caught me out on one of my trades.
 
I cannot beleive it.

I took a break and find that if I had the resolve to keep my long position I could have made 130 points!!!

When I got stopped out, I looked at my stop placement and had decided it was in the wrong place. It needed to be 1.5905. If only...

JonnyT
 
It could also have continued to be a losing trade and your loss could have been larger. Once out of a trade never look back and wonder what could have been as it just gives a negative reinforcement and then next time you get hit harder.

Look for your next opportunity and keep your stops tight


Paul
 
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