Forex Day Trader's Thread

RidderTrade said:
news doesn;t make any trends.. if sterling rallies after the news, it would have rallied anyway

;)
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arguably, depends on your trading style. I personally believe you have to have a fundamental view on a currency before you use technical analysis to enter the trade, unless there is a clear cut pattern
 
morning Ridder. are you short GBP/USD and EUR/USD? I was for a time, but then got out with a few pips. Now Im flat, watching...
 
welshandy1 said:
morning Ridder. are you short GBP/USD and EUR/USD? I was for a time, but then got out with a few pips. Now Im flat, watching...
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no, i am flat like you, but i hold a cotton short since last week

good afternoon, as i live in other planet as you ;)
 
RidderTrade said:
no, i am flat like you, but i hold a cotton short since last week

good afternoon, as i live in other planet as you ;)
Click to expand...

ah yeh, I forget :) Its actually 1.45am on Thursday morning here now... :sleep:

which way for cable next I wonder... GBP rally up, or alternatively down, down, down to 1.3680/85 and below...

I dont want to get burnt again, but dont want to miss out either!

good luck today
 
welshandy1 said:
ah yeh, I forget :) Its actually 1.45am on Thursday morning here now... :sleep:

which way for cable next I wonder... GBP rally up, or alternatively down, down, down to 1.3680/85 and below...

I dont want to get burnt again, but dont want to miss out either!

good luck today
Click to expand...


you aint going to sleep? ;)
 
Some big banks caught the market short last night and ran through stops like crazy on thin volumes.. It basically all happened when the Japanese were at lunch..

I have the same problem with not being awake for the London session when most of the Forex action happens..
 
Pippy5000 said:
Some big banks caught the market short last night and ran through stops like crazy on thin volumes.. It basically all happened when the Japanese were at lunch..

I have the same problem with not being awake for the London session when most of the Forex action happens..
Click to expand...

can you explain that further? i don't see anything about the stop run.
how do you gain access to this type of info?
 
My broker Gain Capital told me what happened ..

no target wels.. just a trailing stop .. I'm up over $1,000 in 30 minutes..
 
stopped out with a very nice profit.. EUR/JPY being sold off and it's affecting USD/JPY

I'll pick up USD/JPY anytime it gets near 87 because the Japanese gov will intervene verbally if it drops below there and will directly intervene at 85 by buying USD .. There's no news causing yen strength just fear.. and there's virtually no resistance on the way back up.
 
nice1, thanks for the headsup, I'll keep an eye on that pair too. 88 seems to be offering some resistance, but yeh above that there doesnt seem much to stop it.

right then, thats me done. 5am and time for bed. Ive set a buy order for 87.68, so lets hope it touches that and shoots up!

good luck with any other trades,
Andy
 
Just need US equities to rally and we can get above 88 .. actually we just did but it's not actually resistance. We're moving in lockstep with the S&P500 again.. The move lower in USD/JPY was sparked by panic when the S&P500 went negative for about 2 minutes..
 
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