timing ?????

[bently]

Does anyone have any views on times during the week / day when not to be trading. I sat here today quite smug watching my euro/dollar, pound/dollar trades doing quite nicely then BANG.
2.30 GMT it all went a little wrong. I must say at this point that it is only a demo account and yes, if it were real , i'd have bailed out way before the pair turned into a combined £1000 loss,
( 2 pips off wipeout ) just hoping that it will pull back over night. :|
Any thoughts appreciated....

 

[Mr. Charts]

I don't trade FX but do watch cable and euro/$.
The US market opens at 1430 GMT but my live FX feed did NOT show any blips at that time.
Richard

 

[bently]

I don't trade FX but do watch cable and euro/$.
The US market opens at 1430 GMT but my live FX feed did NOT show any blips at that time.
Richard

What do you call a 'blip' ?

 

[JumpOff]

bentley,
if you will post a chart, I am sure someone will comment.
JO

 

[bently]

Can anyone out there do it for me please, copy and pasting is not my party trick.
I'm only playing in the 'Little league' as I am trying to learn. Would a 'Blip' be what occured earlier on in the week, Tuesday I think.

 

[trendie]

gbpusd earlier this week ( fxcm )

Can anyone out there do it for me please, copy and pasting is not my party trick.
I'm only playing in the 'Little league' as I am trying to learn. Would a 'Blip' be what occured earlier on in the week, Tuesday I think.

is this it ?

 

[bently]

Cheers Trendie,
so is Tuesdays' 'blip' a 'blip' or not a 'blip'. I suppose it depends on how large a movement in the market you are dealing in. Myself, I am only looking for a movement of maybe ten or fifteen points a day, in the right direction of course, so when I got caught out by a drop of 30 plus while i had a fag outside, ( ciggarette, for others not in this green and pleasant land), and dropping it was a case of what now, sell and place a sell, that's what i should have done.

We're drifting here, back to timing, or is forex so unpredictable, if so why are there so many forecasters out there, anyone dare tell what's going to happen tomorrow, disclaimer agreed.

 

[darrenf]

Hi

1.30pm UK time (currently 1.30pm GMT) is the time generally considered to be the start of US trading in FX. This time is also a common news release time and can cause some quick moves/ continuations/ reversals around this time.

I have to agree though, doesn't seem to be anything out of the ordinary at 2.30

Looks like a move up from 1.30 when US trading kicked in followed by a reversal off resistance of the current range at around 2.30.

 

[bently]

What time does the aisia market kick in (in GMT) ?

 

[trendie]

Cheers Trendie,
so is Tuesdays' 'blip' a 'blip' or not a 'blip'. I suppose it depends on how large a movement in the market you are dealing in. Myself, I am only looking for a movement of maybe ten or fifteen points a day, in the right direction of course, so when I got caught out by a drop of 30 plus while i had a fag outside, ( ciggarette, for others not in this green and pleasant land), and dropping it was a case of what now, sell and place a sell, that's what i should have done.

We're drifting here, back to timing, or is forex so unpredictable, if so why are there so many forecasters out there, anyone dare tell what's going to happen tomorrow, disclaimer agreed.

Market does what the market wants to do. The blip is merely your interpretation based on your shorter timeframe. Traders looking at a multi-hour or daily time-frame may not have seen a blip.

There are so many forecasters out there 'cos they cant trade. If they could, they would put their money where their mouths are.

It doesnt matter whats going to happen tomorrow - concentrate on how you are going to re-act to it.
If you have a system that tells you WHY and WHEN to enter, you should also have something to tell you WHY and WHEN to get out.
( wish I could follow my own advice , I might get profitable )

 

[bently]

.
( wish I could follow my own advice , I might get profitable )[/QUOTE]

Like it.... best line I've heard for ages.


That was the most expensive fag I've ever had !!!!

 

[FetteredChinos]

Does anyone have any views on times during the week / day when not to be trading. ....

sunday mornings, 3.45am. GMT.

ive never made a profit at this time.. keep well clear.

 

[thomasdevos]

If you are not day trading, a move of 30 points on cable is not uncommon. The ATR on a daily basis is at the moment 130 points, in December 2004 it was 200 points.

If you have identified correctly your stop loss then this is the worse which can happen and your cigarette breaks will become more enjoyable.

I had the same kind of expensive cigarette breaks ;-). cheers.