Currency Trading (Nov 13th > Nov 17th)

[Baruch]

...yes, i remember the posts a while back. Thankfully there are many freely available, profitable trading methods/strats to choose from to just run with as is or tweak to suit, but like you BO's suit me best.

Yes, I think BO's are the best to trade. All new big moves starts with a BO, don't they?

 

[dc2000]

statistically there are more reversals than breakouts

 

[Baruch]

statistically there are more reversals than breakouts

Maybe - but there's nearly always a BO from the Asian range in the morning.

 

[jacinto]

statistically there are more reversals than breakouts

but that depends, of course.

not more reversals than breakouts from continuation price patterns

yes, more reversals than breakouts from no patterns at all, unless one relies on the ultra reliable pitchfork-action-reaction setup :cheesy:

 

[Offshore Trader]

Short at 07 but a little concerned by the strength of support around here. Having said that, if it goes, we should get a decent move

 

[ChowClown]

Morning all, short too @9006.2

 

[City Bound]

Short @ 9010, let's hope for a smooth ride down.

 

[jacinto]

Morning all, short too @9006.2

good luck Chow, and OT too.

Do you guys filter your trade with eurodollar?

 

[ChowClown]

good luck Chow, and OT too.

Do you guys filter your trade with eurodollar?

Thanks Jacinto, i don't filter with anything on the strat i'm using at the moment.

Good luck today, if/when you're in.

 

[jacinto]

Thanks Jacinto, i don't filter with anything on the strat i'm using at the moment.

Good luck today, if/when you're in.

thanks. i do filter it, and that is keeping me flat, until they are both in the same direction.

seems the market really wants to sell it. good luck mate

 

[ChowClown]

Morning all, short too @9006.2

Stop now at -10. (9016.2).

 

[Baruch]

thanks. i do filter it, and that is keeping me flat, until they are both in the same direction.

seems the market really wants to sell it. good luck mate

Before I used euro as a confirmation signal, but not anymore. I think Cable kan stand on it's own feets.

 

[jacinto]

Before I used euro as a confirmation signal, but not anymore. I think Cable kan stand on it's own feets.

fair enough. for me it doesnt necessarily have to be moving in the same direction at the same time, but with similar setups.

say, like yesterday, 123 at the top, one triggers befor the other. but both short. as opposed to today.

then again, guess one could use eurgpb as the filter as long as eurusd looks like a range, and then its the inverse......long setups eurgbp, shorts cable. but riskier IMHO as correlation will be imposed back at some point.

my 2 cents anyway.

 

[Baruch]

Short at 07 but a little concerned by the strength of support around here. Having said that, if it goes, we should get a decent move

I also came in late after the news. I wish I had a Bloomberg, so I could ride the whole spike, as the big news traders do.

 

[Baruch]

fair enough. for me it doesnt necessarily have to be moving in the same direction at the same time, but with similar setups.

say, like yesterday, 123 at the top, one triggers befor the other. but both short. as opposed to today.

then again, guess one could use eurgpb as the filter as long as eurusd looks like a range, and then its the inverse......long setups eurgbp, shorts cable. but riskier IMHO as correlation will be imposed back at some point.

my 2 cents anyway.

Maybe I'm wrong, but it seems to me that euro doesn't lead the way as often as it did in the past. I suppose different fundamentals between UK and Euroland is the reason.

 

[jacinto]

Maybe I'm wrong, but it seems to me that euro doesn't lead the way as often as it did in the past. I suppose different fundamentals between UK and Euroland is the reason.

Im not saying you are wrong. guess its the pips that counts, and nothing else. there are different ways of seeing it.

guess in cases like theses we are seeng a sterling play and not a dollar play, so on that front, you are right, cable can stand on its own. look at gbpjpy. however, at some point, cable will come back to be a dollar play, when eurodollar becomes a clear dollar move.

probably didnt explain it properly before.

 

[Offshore Trader]

Stop now at 97 (+10)

 

[edu]

Baruch... if I got the Big Ben .pdf right, it gave a 9005 area short this am, and first profits could be banked now (8965 area). Stops would be trailled. Gotta love the simplicity.

 

[ChowClown]

Stop now at -10. (9016.2).

...a few pips locked in now.

 

[Baruch]

Baruch... if I got the Big Ben .pdf right, it gave a 9005 area short this am, and first profits could be banked now (8965 area). Stops would be trailled. Gotta love the simplicity.

Yes, it's simple, but it works...