Currency trading (Sept. 11th > 15th)

[dc2000]

that dc bloke: bet he works for a bank, and can MAKE the market go to 834.

Nah the bank works for me

 

[ChowClown]

DC, do you happen to have a probability stat for 834?

 

[zuke]

Mrng all,

After downloading a new server platform for metatrader last night (see 'exotic crosses' thread) I had a look at USD/NOK and it fitted my cable strat like a glove. Not only that but it fit better and triples my targets daily even with a larger spread! This time next week I may be a NOK daytrader with cable a long forgotten meagre little bit of fun.

So I see you guys have got the Nordic bug!!! Like I said on Monday..it's not for the faint hearted but can give a bag loada pips.

Morning all. Had yesterday off after bagging 700 pips on Mondays 4 trades. Back to work today though and what do I see? A wonderful short set up! So I am currently:

Short 8741
Stop 8785
Target 8658
R:R 1:2.5

Also
short EUR/JPY from 149.63, Stop 149.80, Target 148.56 R:R 1:6
short USD/SEK from 2963, Stop 3175, Target 1899 R:R 1:5

 

[Offshore Trader]

What really impresses me about DC is he has a great ability to work out the days where the rest of us will just spend our time chasing our tail. So far it's been another day like that today. This market really looks like it's going down although admittedly it will have to get through 8710 to confirm. I did think that the move through 35 would take us to the 15/20 area but it's just not happening today. Very frustrating!

 

[wasp]

Well NOK has continued another 150 from my exit but I'm not complaining with 2 weeks wages in just one morning.

Big THANKS to Zuke to pointing out a brilliant market!

 

[dc2000]

I dont chow

when I ran figs last night 715 to 834 was the prefered option reverse level 699 to 640

 

[zuke]

Well NOK has continued another 150 from my exit but I'm not complaining with 2 weeks wages in just one morning.

Big THANKS to Zuke to pointing out a brilliant market!

Well done Wasp! Welcome to the wonderful world of Nordic crosses! Just remember that it can go 100-200 pips against you before shooting 700 the other way! I trade off the 4H and regualrly have to put in 200 pip stops! Suits my style of trading though and I do not miss the emotional pressure of scalping Cable off the 5min!

 

[ChowClown]

Thanks dc.

 

[trendie]

zuke: does my head in how you trade!
cos I was looking at reasons to go LONG!
( 4-hourly generally up, and looking for low-risk re-traces into up-move )

I can see your stop-loss being above y-days High, and your target being y-days low from euro-session.

mind you, on the 4-hourly, there is a darvas type sideways over past 6 bars,, so a break-out a better bet than trend.

also, needs to break below this mornings asian-session low of 8710 or so.

 

[dc2000]

no probs chow

and just out of interest Thursday comes out at 846 to 641

 

[trendie]

What really impresses me about DC is he has a great ability to work out the days where the rest of us will just spend our time chasing our tail. ....!

yes, quite. If DC is an Elliott man, then he may be using Ratio Analysis and Fib Time Sequences. Just guessing.
Or he just phones up his bank and tells them to take the day off. :cheesy:

 

[ChowClown]

...i think dc's more a 'back of a fag packet/beer mat' kinda guy

 

[neil]

Sir, Sir - I know (DC unmasked)

...i think dc's more a 'back of a fag packet/beer mat' kinda guy

He is a previous Dr. Who who utilises a rented Tardis to flit to and from the future before placing trades. Thought he could fool us by removing his hat and scarf

 

[trendie]

no probs chow

and just out of interest Thursday comes out at 846 to 641

I can see where the 846 might come from.
Its a 161.8% Fib extension of y-days euro-session low of 658 and y-days daily high of 771.
(although I get 842)

still trying to work out the 641. and also why it should fall on Thursday.

DC: keep posting more clues. this is better than sudoku, and good exercise for my brain, (whats left of it).

 

[Offshore Trader]

Well done plenty of tail chasing and I wish i hadn't traded cable today. The dollar looks strong but EUR/GBP really weak. I really don't know what to make of that but ahve a small short and I'm now going to walk away and have a look a little later on

 

[martin brown]

re: pips & different crosses

its like comparing apples with oranges.

what really matters is return on investment.

risking £1 a pip on cable is the same as buying/selling approx £18,750

risking £1 a pip on USD/NOK is the same as buying/selling approx £136,875

therefore if the trading size remains the same then 1 pip on USD/NOK is not worth as much as 1 pip on cable, unless you are prepared to risk more capital/margin.

but assuming you wish to keep to a standard margin limit than talking in pips is meaningless unless everyone just trades one cross.

 

[dc2000]

yes, quite. If DC is an Elliott man, then he may be using Ratio Analysis and Fib Time Sequences. Just guessing.

Cant do elliott waves

i think dc's more a 'back of a fag packet/beer mat' kinda guy

absolutely

He is a previous Dr. Who who utilises a rented Tardis to flit to and from the future before placing trades

not quite though family car pic below

I can see where the 846 might come from.
Its a 161.8% Fib extension of y-days euro-session low of 658 and y-days daily high of 771.
(although I get 842)

still trying to work out the 641. and also why it should fall on Thursday.

always nice to know my figs coincide with FIBs, I could tell you the rest but that would be toooooo easy

 

[trendie]

....
always nice to know my figs coincide with FIBs, I could tell you the rest but that would be toooooo easy

DC, since you can make projections ahead of time, you cant be using indicators.

You either have the equivalent of Level-2 of FX, if such a thing exists, to see where the hedge funds or big banks may be poised with orders.

Or you are using some kind of channels and market patterns or Market Geometry, both of which allows projections of lines into the future.
The bog-standard channels, triangles, etc, seem unlikely.Or rather, I cant find any evidence.
The only others that I have come across are Fibs and Gann.
Actually, Gann also allows projections of prices and time.

Unless you have derived your own unique methodology.
Would it be worth me re-reading your Genesis thread?

I dont want the answer, just a clue.
( colonel mustard in the kitchen battered about the head and shoulders with a candlestick,
or lady scarlet in the hallway with a doji-hammer? )

 

[wasp]

From what I can fathom I think DC looks at the price and tries to see where those with money would want to go take a good profit based on 10+ years of watching the market. I'm sure theres more to it but since he says he hardly uses charts...?

 

[Priceman]

I can see where the 846 might come from.
Its a 161.8% Fib extension of y-days euro-session low of 658 and y-days daily high of 771.
(although I get 842)

still trying to work out the 641. and also why it should fall on Thursday.

DC: keep posting more clues. this is better than sudoku, and good exercise for my brain, (whats left of it).

Maybe it will fall to get in position for Friday's data... which DC may know already will be dollar bearish ? Just a thought from someone who knows very little !