May '04 Forex

[The Wanderer]

JPY long trade currently +55 on 7am -10 am system.

Stop moved to breakeven

 

[Buk]

spot on Fibcouple!.....it's the 'long haul' which counts, not the quick, tasty sweetie!!!....'news' events are extremely difficult & very risky to trade imo, and certainly not for the sb accounts or the faint hearted!!.......and on the question of CMC & the morning niggles, there are one or two (in the FX room) who have experienced problems with their platform this morning....which is one too many in an annoying sequence of recent events.....closed the a/c this morning & shipped it across to the brokers.....can't do with the incompetant hassles/endless hanging on the line waiting for em to sort their sorry a**** out!

 

[tomwilliamson]

Very dull this EUR ranging business. Up and down like a bloody yoyo! I take it most people are not trading EUR today?!

 

[Volatile]

I've been long with a wide stop pretty much all afternoon, doesn't seem to be going anywhere really tho today.

 

[JonnyT]

I've been short for ages...

JonnyT

 

[FetteredChinos]

never tried heels JT?

even this recent upward move seems to be running out of steam on both cable and eurodollar.

yawn!

FC

 

[Goober]

Hang in there!

A tight range normally results in an aggressive breakout.

 

[FetteredChinos]

evening goobs. how are you getting on this week?

i was stopped out of an earlier trade for -30

just about back to breakeven since then.

FC

 

[JonnyT]

I was stopped out the moment I posted!!!

My wonderfull new Spot On software emailed me at work to let me know I had just lost 35 pips!

JonnyT

 

[ColinRiche]

Not an expert on Forex....

But if the Euro was introduced in recent years...

Why have i a chart of Euro-dollar dating back to 1980 ?

 

[ivorm]

I was stopped out the moment I posted!!!

My wonderfull new Spot On software emailed me at work to let me know I had just lost 35 pips!

JonnyT

lol. Oh well, at least it's working.

Regards,

 

[neil]

Colin Riche

Not an expert on Forex....

But if the Euro was introduced in recent years...

Why have i a chart of Euro-dollar dating back to 1980 ?

http://www.cme.com/prd/about_ED3087.html



Dont confuse the eurodollar ( Interest Rate Product)

with the currency trading pair Euro/Dollar ( EURO/USD)

 

[ColinRiche]

ok Neil i'll re-state that...

I have charts for EUR/USD and EUR/GBP dating back to 1980.

Charts are from dailyfx.com

 

[TheBramble]

Not an expert on Forex....

But if the Euro was introduced in recent years...

Why have i a chart of Euro-dollar dating back to 1980 ?

Maybe you have the DW back-fit special....?

 

[tomwilliamson]

What do people think is the best way to trade days like today, assuming you wanted to trade within the range rather than waiting for a breakout? It seems there is lots of movement (= lots of pips to be made) but not much of a pattern. When the price approaches a support/resistance (especially a strong one), are there any good ways of telling whether it will bounce off the support/resistance or break through it? I made 9 trades in total today, 6 went against my favour and I broke even on 3, making a grand total of -39 pips. I'm only trading the EUR for the moment. Would be interested to hear how people would trade a day like today!

Cheers,

Tom

 

[FetteredChinos]

Maybe you have the DW back-fit special....?

the boy got a point. odd eh?

if only i had bought it a few years ago lol!!

FC

 

[ColinRiche]

Thanks for attaching the chart FC

Yea my point exactly

I find it really weird..... what year should they start ?

'95 2000 but no way 1980

 

[neil]

ok Neil i'll re-state that...

I have charts for EUR/USD and EUR/GBP dating back to 1980.

Charts are from dailyfx.com

Thats better

 

[waytogo]

The way I see it, it doesn't really matter why market did what it did. The point of the matter is to decide what will I do if the market does something. Whether it was market makers shaking off the punters who were short before the ride down, whether it was a rumour before the exact meeting or whatever, it doesn't help me to make money. Its not important!

I totally agree with FibCouple (& Buk) on this, which is why I said it's all part of the game. Nothing is 100% certain until after it has happened, and you can not predict anything like that happening - and if it was deliberate they'll not make it obvious if they are going to do it again! What matters most is your own personal reaction to the events (or your anticipation of them) and your risk management.

 

[Goober]

Hello m8.

EUR traded in a tight range and hadn't broken out of it by 21:00, so no trade.

evening goobs. how are you getting on this week?

i was stopped out of an earlier trade for -30

just about back to breakeven since then.

FC