Currency trading (Aug 7th > 11th)

[dc2000]

sorry hornblower I have to say wont happen are you sure you have those figs right?

 

[hornblower]

sorry hornblower I have to say wont happen are you sure you have those figs right?

they are targets as per the chart
but as you think its not going to happen !!
I am going to have to think again
thanks for that
regards
hornblower

 

[Priceman]

I would like to see it fall back to the 8900 area before US open then they dictate what will happen later on. Up though for US.

How's that analysis DC?

 

[chindl]

that makes me think of the London boys DC remember them! I missed the drop this morn and now am waiting to get in around 8900 long again if it goes back there!

Bored waiting so googled - http://en.wikipedia.org/wiki/London_Boys - RIP

 

[Priceman]

No way both killed in a car accident I don't remember that!

Grave loss to the pop/pip world

 

[dc2000]

I also have the US sesh as up personally I would like to see lower than 8900 for an entry an 876/878 until then Im on the sidelines

 

[zuke]

Morning all, my 8968 short has just been filled. Im looking for a 8908 with a stop at 9008. If I get these 60 pips, Ill probably head off to the Lake District for the weekend.

 

[Priceman]

its now hitting the 100EMA on the 1hr chart so should turn down....

 

[trader79]

Hi Trader79
not sure what my average would be I only keep note of % of capital gain, I dont think my posting of charts would be of any use as I work off target price levels so would probably just end up with a couple of arrows on a chart, you dont say over how many weeks you have averaged 100 pips but I would say you were doing well at that level

Thanks DC and Priceman for the replies.

DC I maintained the average for past six months.
I work off of 5 min charts for entry and 1 hour chart for general trend with few mas and cci.
Any hints on how you get your levels..elliott wave, Gann etc.?
I missed this mornings move as I slept .. looks like have to wait for US session for fireworks.

 

[chindl]

...flirting with today's pivot...again.

Chow - question on the OANDA live system, I'm not on their live system, just testing a few strategies on their demo at the moment. I note that you had pivots overlaid on the chart you uploaded on post 102, do you manually overlay these, or does OANDA live have the option of placing pivots on their system? I use MT4 which has Piv and Cam levels, but am seriously looking at going for a live OANDA account. If this functionality is available in the live environment then it would probably swing it for me! May not be that long, but I seem to spend all of my time placing line overlays on charts these days due to the lack of pivot functionality on so many packages.
Thanks in advance.
Chris

 

[ChowClown]

Hi Chris, manual overlay on Oanda unfortunately.

 

[chindl]

Cheers Chow - thought it was too good to be true - blue peter charts eh??

 

[ChowClown]

aye, i'm in the minority probably, but i like Oanda's charts - prolly 'cos i simple.

 

[Priceman]

Question chaps,

who's doing what; SBing, options, futures, CFD's....

I'm SB with CMC at mo for cable but not sure if they're gonna honour my positions if (and that's a big if) I get too successful. There's a lot of bad talk on the forums about SB firms. Maybe I should spread (excuse the punn) my positions around wit hdifferent firms so I can hide better.

 

[Ripcord]

Thanks DC and Priceman for the replies.

DC I maintained the average for past six months.
I work off of 5 min charts for entry and 1 hour chart for general trend with few mas and cci.
Any hints on how you get your levels..elliott wave, Gann etc.?
I missed this mornings move as I slept .. looks like have to wait for US session for fireworks.

Trader79

If you have managed to clear an average of 100 pips per week for six months then the last thing I would have thought you would look at is somebody elses method. With the correct money management you're laughing all the way to the bank. Consistancy is the way to survive and long term profit. A lot of posters enjoy the boom and bust cycle so if you haver something that works then I would not want to complicate it.

On this I speak from experience I personally average 23.8 pips per day profit and this includes all the days when I make and loose more than 50-80 pips. Becuase I trade in moderate size I now clear just over six figures and after all it is about the money isn't it. It took a long time to get there but if you can keep the discipline you're made up.

 

[wasp]

I'm using capital spreads at the moment and have opened an account with oanda which I'm transfering money to, as you say, spread my positions a bit and to compare the 2.

I am leaning towards using an ECN like currenex instead though soon.

 

[ChowClown]

Trader79

If you have managed to clear an average of 100 pips per week for six months then the last thing I would have thought you would look at is somebody elses method. With the correct money management you're laughing all the way to the bank. Consistancy is the way to survive and long term profit. A lot of posters enjoy the boom and bust cycle so if you haver something that works then I would not want to complicate it.

On this I speak from experience I personally average 23.8 pips per day profit and this includes all the days when I make and loose more than 50-80 pips. Becuase I trade in moderate size I now clear just over six figures and after all it is about the money isn't it. It took a long time to get there but if you can keep the discipline you're made up.

That's a good average (to me anyway), how long has it taken you?

 

[chindl]

Question chaps,

who's doing what; SBing, options, futures, CFD's....

QUOTE]
SB, but looking to go with a live Oanda account imminently so as to start distancing myself from the backstreet boys, I use Fins, Caps and WS at present. Caps for me seem to have better understanding of client needs and are prepared to put their reputation on the line on this forum in quite a formal manner, which for me means quite a bit, less faceless and they don't come over as wideboys. Fins are now part of City Index so things will change with them soon and I doubt it will be for the better.
Saying that, I now use predominantly Fins and WS, the latter used for intraday as they;re the only ones through the firewall at work! Fins are used now for position trades on futures contracts, as they allow market orders and Caps don't so you trade on market price as oppose to their price. I've had to question them in the past, but when faced with evidence they have always honoured.
Chris

 

[ChowClown]

Daily Inside Day Method - highlighted by JillyB recently....

...not trading today (holiday looming) and off tangent, but something i'll refer back to after the hol.

 

[trader79]

Trader79

If you have managed to clear an average of 100 pips per week for six months then the last thing I would have thought you would look at is somebody elses method. With the correct money management you're laughing all the way to the bank. Consistancy is the way to survive and long term profit. A lot of posters enjoy the boom and bust cycle so if you haver something that works then I would not want to complicate it.

On this I speak from experience I personally average 23.8 pips per day profit and this includes all the days when I make and loose more than 50-80 pips. Becuase I trade in moderate size I now clear just over six figures and after all it is about the money isn't it. It took a long time to get there but if you can keep the discipline you're made up.

Hi Rip that is very nice average.
I am happy with my average but there is room for improvement in terms of capturing more pips. After all GBP moves hundreds of pips on a daily basis.
Although I haven't gone through all the posts made by DC, I am amazed by his abilities to pin point targets. I came across very few people like that on these boards. So I am curious and thought could learn. That is all.