Currency trading (Oct 16th > 20th)

[zuke]

just to pass the time

Some views of the GBP on different time frames and how one might trade.
The 5min. overnight breakout if viewed between midnight and 7am would whip you about albeit the first pin bar would keep you in. Another view I saw elsewhere on tis board was that the Asian overnight should extend its' closing range from 7am to 8am? The hourly and daily charts may give fewer but more productive trades depending upon ones' approach.
So - are you a 5 minute person or do you prefer trading longer time frames. Even if you trade both is their one time frame you favour overall?
Back to the marking.
:|

I used to have fun scalping off the 1 and 5 min..but with the spread, it a mugs game. My main strat is a 4H, although I am testing a b/o strat of the 1hr.

 

[neil]

sounds like my love life( Not so frenetic anymore)

hi Neil, when not trading the 5-8am BO, i look for set ups on the 60s and 240s. Prefer a more leisurely pace.

Yes me too. I started out a long time ago on short time frames then graduated to longer frames for the same reasons as intimated by yourself. However, I still like trading the overnight albeit it seems 8am would be a better time to end the overnight Asian time frame.

 

[Uphios]

Hi Neil. I currently trade only the 4 hr charts, which I find fairly dull. I used to trade 5 min and even 1 min when a long term trade lasted 20 mins. It was my most successful period for about 18 months and gave me enough to buy a spare house but then I lost the touch and haven't really been able to find it again since. Now trying to esablish a method on 4 hr charts in order to build a kitty again, but it's dull and still hard work.

 

[zuke]

Hi Neil. I currently trade only the 4 hr charts, which I find fairly dull. I used to trade 5 min and even 1 min when a long term trade lasted 20 mins. It was my most successful period for about 18 months and gave me enough to buy a spare house but then I lost the touch and haven't really been able to find it again since. Now trying to esablish a method on 4 hr charts in order to build a kitty again, but it's dull and still hard work.

Uphios..how many pairs do you trade? If it's only Cable, Im not surprised you are bored!

 

[wasp]

still holding

ho hum

 

[Uphios]

Uphios..how many pairs do you trade? If it's only Cable, Im not surprised you are bored!

Not just cable but mostly cable. Occasional dable with the DOW for old times sake but that costs me money every time these days. Very limited on what I can do at the moment having emptied the account 3 months ago after a year of break even. Started it up again 2 months ago with a deposit of £500 which currently stands at £518.65. Small accounts are hard to get going and limit how many trades you can take but I refuse to give my previous profits back. Had a friend who made and lost way over a million on the markets and I vowed I would never do that. Trouble is I don't look like making it in the first place this last couple of years. :cheesy:

 

[Priceman]

I teech EENgleash, loosing at tradink, mattermatics and lore

spellin' (notice the apostrophe which indicates a missing letter) :cheesy:

Good job you didn't say you taught trading Neil otherwise we'd have set the dogs on you from the other thread about scammers !

Ok just going to log on and see what I can nick during me lunchbreak before the numbers later... long or short chaps ? haven't seen what it's doing yet this morning...

 

[ChowClown]

...buggered if i know mate, but i'm short.

 

[wasp]

I'm short too but not convinced yet

 

[DAVIDB75]

i'm going to bed, i've left my long open, target 1.8840.
whether my system wins tonight or not, at least i've added 30 more pips by trading. As wasp says 'its a marathon...'

 

[Priceman]

Ok, so data from UK not great this morning although 7-2 votes for the BoE... have to wait then till the numbers come out I suppose and I'll be back at my desk Someone just let me have 10 or 15 during lunch that would be really kind... I favour down too after taking out the high.. upto 90 area to fool us into the long ? What do I know, just stop thinking and follow the signals !

 

[ChowClown]

...came within 3 pips of current s/l back there...would be nice to see a 123 printed on the 60 at 1pm.

 

[wasp]

Hmmm, my chart (posted) says long but everything else says short to me, bleedin glad I have the MA API otherwise I'd be buggered based on my TA alone...!

 

[Uphios]

Hmmm, my chart (posted) says long but everything else says short to me, bleedin glad I have the MA API otherwise I'd be buggered based on my TA alone...!

Well if it's above .8720 at 16:00 my chart will indicate a long. That's the trouble with 4 hr charts, so long between signals.

 

[Offshore Trader]

I'm out of my short from earlier and have to say that if I had to take a position in cable now, I'd rather be long, given the recent trend and EUR/GBP weakness but as I don't have to take a position I'll just wait until we get the next move

 

[trendie]

Well if it's above .8720 at 16:00 my chart will indicate a long. That's the trouble with 4 hr charts, so long between signals.

so true.
I also use 4-hours as trend-definer, but use 30 or 60 mins for pull-back signals.
and they occur at around 2am!!
still biased to upside for now.

 

[wasp]

Well the strenth of the up trendline does not ellicit confidence in the downmove but then thats the beauty of a spare account :cheesy: For some reason unbeknown to me especially, I still favour downside...

 

[JER08]

8800 or 8710 today,US numbers and the market will decide.

 

[smbtnt]

...if you're out there smbt, do you have any vacuum targets to hand?

Hello my dear friend,

8780 and 8480.

 

[ChowClown]

Good to see ya, smbtnt. TVM.

Stopped from short by a pip (-20) and back in short 704 on the re-arm.