Currency trading (Oct 30th > Nov 3rd)

[trendie]

have you ever traded options trendie?

have contemplated them as insurance against "normal" trading, so as to have wider stops, (allow the "bad" trade more room to bounce back ) etc.
but the spreads/volatility calculations get messy.

decided against them.
the only aspect that interests me are the writing of options against my stocks portfolio, to collect premium, but, you still have to do TA analysis to determine direction, likely outcome !
lots of learning and reading yet to do on this subject.

 

[dewi141]

have contemplated them as insurance against "normal" trading, so as to have wider stops, (allow the "bad" trade more room to bounce back ) etc.
but the spreads/volatility calculations get messy.

decided against them.
the only aspect that interests me are the writing of options against my stocks portfolio, to collect premium, but, you still have to do TA analysis to determine direction, likely outcome !
lots of learning and reading yet to do on this subject.

agreed, the spreads are a big deterrent (above 10 pips on a 100 pip option), but it seems to me that they coudl be very useful as insurance on big info days (such as NFPR).

e.g. On NFPR, its been noted that you often get big spikes (which take you out of your positions), either jsut before or just after teh figs, which then reverse. Options could help you ride these out.
As IG do daily options (expire at 8pm), I wil have a look at them on friday to see how expensive they are.

 

[trendie]

when does cable "close" for the day?

normal stock-trading, the times are about 9:30am - 16:00pm ( US )
so, End of Day for stocks, is actually 4pm, not 12-midnight.

so, the 12-midnight EOD for a 24-hr market seems arbitrary, especially, as the US-session may end around 8 or 9pm.
and the asian session starts at 10pm UK-time.

so, when is a reasonable End-of-Day for cable?

 

[DAVIDB75]

when does cable "close" for the day?

normal stock-trading, the times are about 9:30am - 16:00pm ( US )
so, End of Day for stocks, is actually 4pm, not 12-midnight.

so, the 12-midnight EOD for a 24-hr market seems arbitrary, especially, as the US-session may end around 8 or 9pm.
and the asian session starts at 10pm UK-time.

so, when is a reasonable End-of-Day for cable?

I get end of day data for my system, now that you have finished daylight savings, it shows the EOD at 21.30, previously 22.30 (GMT)

 

[ChowClown]

Morning all, currently long 04. EUR/GBP continuing the break lower which looks promising for the trade. 070 in the next few hours perhaps.

 

[zuke]

Morning all..currently short from 9013, SL 9045, Target 8950. Im thinking it could be a pretty bearish day today.

 

[Uphios]

Morning all..currently short from 9013, SL 9045, Target 8950. Im thinking it could be a pretty bearish day today.

Morning all. Also short 9013 but expecting a lot of whip today so planning to scalp 20 pips or so.


End of day on all currencies is supposed to be 10pm UK time, 17:00 new york time and lasts for about 3 minutes. This is when my open positions get swapped. Not sure what the times are if NY and London are on different daylight saving weeks.

 

[Offshore Trader]

I am long from 05. The high was approximately 27 and the pullback was to 98 ish. I have noticed that you can get pullbacks of up to 30 points without changing the direction but pullbacks of more than 30 points normally mean a turn in trend. My stop is at 95.

 

[zuke]

I am long from 05. The high was approximately 27 and the pullback was to 98 ish. I have noticed that you can get pullbacks of up to 30 points without changing the direction but pullbacks of more than 30 points normally mean a turn in trend. My stop is at 95.

Thats a very tight stop for Cable OT imho..good luck.

 

[ChowClown]

...could do with the GfK Consumer Confidence survey data out now really (rather than 10:30), likely to help the longs according to some flows. I'll be stopped out @94 before then probably.

 

[dc2000]

so, when is a reasonable End-of-Day for cable?

21:00 UK time

 

[Offshore Trader]

Thats a very tight stop for Cable OT imho..good luck.

Yes Zuke it is now but it was 30 point at opening and trailed on move up to 25. I agree 10 points from an opening would be suicide but I think if it goes through 95 it'll probably go a lot lower

 

[trendie]

was surfing looking for code to send SMS messages when price hits certain criteria..

I found a utility, from metaquotres themselves that allows non-standard time-frames, eg; 7-mins, 54 mins etc. ( I think jonnyy40 asked this question last week )

http://codebase.mql4.com/276

 

[ChowClown]

...could do with the GfK Consumer Confidence survey data out now really (rather than 10:30), likely to help the longs according to some flows. I'll be stopped out @94 before then probably.

...stopped for -9.6. Got that one completely A 'bout T.

 

[dc2000]

still waiting not long now though

 

[ChowClown]

Morning all..currently short from 9013, SL 9045, Target 8950. Im thinking it could be a pretty bearish day today.

Nice call Zuke.

 

[trendie]

I have trend-state of short. have gone short 1.8963, off the 4-hourlies.

logical stop-loss is recent highs of 1.9040, so 1 lot.
( looking now for pull-back rallies for better short prices off 1-hourlies. )

 

[zuke]

Morning all..currently short from 9013, SL 9045, Target 8950. Im thinking it could be a pretty bearish day today.

Moved stop to +20 (8993), now a free trade.

 

[zuke]

Nice call Zuke.

Thanks Chow, the trade has set me up nicely for a more relaxing day, as I've locked in 20 pips.

 

[dc2000]

42 will do me for the turn circa 11:30 would be good for time frame