Currency trading (Sep 25th - 29th)

[dc2000]

8976 is all Im after chaps

if we drop to 8835 then I may have a rethink other than that I'll just wait

 

[ChowClown]

hi Neil, i tend to use midnight - 7am as the Asian range, Frankfurt opening @7am, London @8am. Others may use different times, from what i've read.

 

[ChowClown]

Well I gt my 8905 for +127..had to wait a while though!

...great trade that, Zuke.

 

[neil]

Attacked by Butterfly syndrome

hi Neil, i tend to use midnight - 7am as the Asian range, Frankfurt opening @7am, London @8am. Others may use different times, from what i've read.

Thanks Chow - I will look at Midnight to 8am range to compare. At the moment pure price action seems to appeal more as being less artificial. More coffee

Five minute chart of Pound with some thoughts

 

[ChowClown]

...can see this pulling back for DC to climb on that'll have us flat, OT. I'll be re-arming short though if it can get back up to 930-940.

...and flat. Watch and wait for a while now.

 

[Offshore Trader]

...and flat. Watch and wait for a while now.

And me. Frustrated and cross

 

[ChowClown]

...tempted to tweak the BO strat for a while until the daily ATR begins to lift again. Lowest ATR since end of Mar/Apr. Each BE trade this month has offered a chance to take +20.

 

[Offshore Trader]

...tempted to tweak the BO strat for a while until the daily ATR begins to lift again. Lowest ATR since end of Mar/Apr. Each BE trade this month has offered a chance to take +20.

My strategy is to move s/l to +30 at +60 so even if goes back you at least get something. I am reluctant to tweak too much, as the whole point of the strategy is to get the big moves and the danger is that you end up just getting +20 all the time which is less than your original s/l and thus not good risk reward. I just guess it's one of those times at the moment and we have to wait. It's worked in the past, so is unlikely to fall apart now

 

[neil]

Everything stops for tea

...tempted to tweak the BO strat for a while until the daily ATR begins to lift again. Lowest ATR since end of Mar/Apr. Each BE trade this month has offered a chance to take +20.

Chow- have a coffee break and a biscuit. It's that time of day :cheesy:

 

[zuke]

...tempted to tweak the BO strat for a while until the daily ATR begins to lift again. Lowest ATR since end of Mar/Apr. Each BE trade this month has offered a chance to take +20.

Chow , your BO strat seems to be working very well. Do you put a (say 5 pip) filter on the trades or just trade the first b/o? Some BO strats that I have seen, wait for the pullback

 

[ChowClown]

My strategy is to move s/l to +30 at +60 so even if goes back you at least get something. I am reluctant to tweak too much, as the whole point of the strategy is to get the big moves and the danger is that you end up just getting +20 all the time which is less than your original s/l and thus not good risk reward. I just guess it's one of those times at the moment and we have to wait. It's worked in the past, so is unlikely to fall apart now

..you're right, of course. Discipline weakness rearing it's head again. Like your idea of the +30 lock in though :cheesy:

 

[ChowClown]

Chow- have a coffee break and a biscuit. It's that time of day :cheesy:

aye, good idea - we're having our MacMillan Coffee & Cakes day today - marvellous!

 

[Offshore Trader]

Just wish it had gone another 10 points this morning. It also looks as if it is trying to use the 8920 Asian low as resistance, which would be very annoying. Anyway, discipline and patience...

 

[ChowClown]

Chow , your BO strat seems to be working very well. Do you put a (say 5 pip) filter on the trades or just trade the first b/o? Some BO strats that I have seen, wait for the pullback

hi Zuke, there's a variable filter on the one i'm trading atm.

 

[ChowClown]

Just wish it had gone another 10 points this morning. It also looks as if it is trying to use the 8920 Asian low as resistance, which would be very annoying. Anyway, discipline and patience...

...on your BO, do you try and 're-arm' the orders once stopped out, if price enters the middle zone between the entries, or do you keep it simple and stick to a max of 2 trades/day for the strat?

 

[Offshore Trader]

...on your BO, do you try and 're-arm' the orders once stopped out, if price enters the middle zone between the entries, or do you keep it simple and stick to a max of 2 trades/day for the strat?

I will re-arm if I get stopped out at B/E I try to limit my losses by not re entering when stopped out in case it just turns out to be a rangy market. I'm still not sure on the correct strategy though and I think that it might be better just to go with max 2 trade per day (i.e. one up, one down) as in my experience the markets are either very trendy or rangebound. I know that sounds obvious but "very" is the important word. In answer to your question, if we reach 35/40 area then I will reinstate a short stop.

As I said before, just because it's been a bit frustrating the last 7 or 8 days doesn't mean the system doesn't work. It is annoying that I was short well above 1.90 and I haven't made any money though!

 

[Offshore Trader]

It also looks as if it is trying to use the 8920 Asian low as resistance, which would be very annoying.

 

[ChowClown]

"broad weakness" across the durables..

 

[ChowClown]

...ok, BO short re-armed and just filled at 15.

 

[Offshore Trader]

...ok, BO short re-armed and just filled at 15.

Same here. Fingers crossed