Forex Day Trader's Thread

[N Rothschild]

stocks will bounce 2morow

 

[TAjammy]

why do you think that?

 

[N Rothschild]

because i am god.

coz its a bit oversold, due for a bounce, will use gdp numbers as an excuse...go up and squeeze the shorts one last time. also seasonaly the next few trading days into nov are very strong bull days

 

[TAjammy]

k

 

[N Rothschild]

also up agasint a massive weekly trend line

 

[Pippy5000]

You guys should know that Cable registered a breakout north today.. A signal was triggered on the break of 1.64018.. EG weakness is expected to push it up. You may have noticed that it has held up very well while other USD pairs have tanked hard.

 

[N Rothschild]

euro is at 61.8% retracement so prolly bounce from here for a bit

 

[Masquerade]

cool, makes two of us. if the US GDP is worse than expected i might just put on a 15-20 pip trailing stop or something like that.

I foresee the position being stopped out very quickly regardless - lucky you're not live as you wouldn't get filled on the stuff you use.

 

[Masquerade]

Dear god,

If you'd like to help a brother out some time in the next 24 hrs, i'll be very grateful.

Many thanks.

J R Hartley.

 

[N Rothschild]

definition of pressure, a wife, mistress and a mortgage. all one month late

 

[Pippy5000]

hmmm.. well a 15 - 20 pip trailing stop is pointless .. I think the only time using a trailing stop makes any sense at all is if you're someone who pays no attention at all to your trading account.. You setup a trade with a 600 pip trailing stop and come back in 6 months to see how your trade is doing..

In order to trade GDP you'll need a huge stop because of cross action and knee-jerk reactions.. You can use a 50 pip stop, be right overall and still get stopped out due to the initial silliness that happens.. I'm covering all trades and removing all orders when that data is released..

black 47, come on black 47...

 

[Pippy5000]

I'm going long Euro 1.4605 .. I'm hoping Europe can drop it down there and it will bounce off of Daily SMA support..

 

[Masquerade]

Do you never hit the market?

 

[Pippy5000]

I do not do market orders..

 

[ivantchourilov]

black 47, come on black 47...

hahaha, sir are you sure you want to put on a number that does not appear on our roulette?

on a side note, what are the technical levels for the eur/usd at the moment? I don't trade it but I am watching it closely due to its correlation against equities. I know 1.45 will be a big one, but what are the others along the way?

 

[Pippy5000]

1.4641 and 1.445 are important MT levels

 

[ivantchourilov]

1.4641 and 1.445 are important MT levels

Awesome thanks. Looking to be inline with the 1040 on the S&P unless it moves towards the 1.445.

 

[Pippy5000]

I'm setting an overnight order to sell Euros at 1.48 .. I'm anticipating an oversold bounce from current levels before a continuation down ..

going to bed now..

 

[ivantchourilov]

I'm setting an overnight order to sell Euros at 1.48 .. I'm anticipating an oversold bounce from current levels before a continuation down ..

going to bed now..

haha you sleep? wow. good luck with that trade. my bet is in the same direction but in equities. i got hammered though today because asian markets just collapsed. US futures didn't react. I think the S&P should at least give it a shot towards the 1065 and maybe even 1072-5 level by the end of the week. this would probably correlate to a 1.48-1.50 level based on my observations over the last few weeks. will be interesting to see how this plays out. i hate being long when im bearish on the market.

 

[TAjammy]

I'm setting an overnight order to sell Euros at 1.48 .. I'm anticipating an oversold bounce from current levels before a continuation down ..

going to bed now..

heh i was long overnight: