Forex Trading - December 2003

[Newtron Bomb]

Now ive wiped the sleep from my eyes

I'm thinking more that a short could be on the cards here

 

[Newtron Bomb]

Have taken to sitting on my hands.

I'm on the fence atm got long orders pending but a gut feeling tells me eur could fall of its fence in the short term.

Happy trading
Newtron Bomb

 

[Newtron Bomb]

Swissy already making a run for it

 

[Newtron Bomb]

Support 1.2150 level

long entry triggered @ 1.2170 when higher low made.
entry and stop levels can bee seen clearer on the 15 min chart

 

[neil]

I'm bailing out of my short here for a piddly 11pips. Got frightened when chart rose on 5min to just within a whisker of my stop.

Prices seem to be sitting on hourly support for a possible long soon?

 

[Newtron Bomb]

eur struggling with a direction atm however still favouring the long position,
but if 1.2150 is confidently broken then that will trigger a short entries for me

Each to ther own... should we just cut the middle man out on days like this who should i write s cheque to

 

[options]

cmc expecting something? 36/40
fxcm 14/18

Everything seems to be connected okay.

 

[neil]

Well - it's gone lower and now sitting on the next hourly support around 2120 ( we were discussing that figure for longs recently?)

I am staying away for now cos I am undecided on direction.

 

[neil]

cmc expecting something? 36/40
fxcm 14/18

Everything seems to be connected okay.

Euro ?

 

[options]

Bam! There ya go! cmc not moved fxcm 25/29.

They did know something.

Had a break earlier had a tiny short on. Stopped out. Have missed this roller coaster. (Quite pleased in a way.) Hope everyone took profits from the table.

 

[options]

Sorry Neil, just seen post.
Yes euro/usd. Only one I do m8. So all my posts relate to that one.

 

[options]

Still favour the short side. Flat at mo though.

NB. You send cheque to me for a tenner, in fact if everyone sends me a cheque, then next week we all send NB a cheque, week after that... No hold on that's been done before...

 

[Newtron Bomb]

Options
so i send a cheque for £10 to you then next week a load of you send me £10.....

...BRILLIANT DEAL OR WHAT, I CANT LOOSE am sending you a cheque now :cheesy:

"This time next year Rodney"

NB

 

[leeshindig]

still short E/$...still long £/chf....

daily stochastics still turning on both.....left stops, but with room to breathe for a retrace.........

 

[neil]

Newtron et al - what do you think of this new boy in the forex arena

http://www.elitetrader.com/vb/showthread.php?s=&threadid=25680&perpage=6&pagenumber=1

specifically : http://www.coesfx.com/

Claims a tight spread on forex pairs.

 

[leeshindig]

was stopped out of shorts for profits....was thinking of longing E/$ on its rise last night, but dont trust the daily indicators...look like they could turn any time to me....sitting on the fence for now

 

[options]

Neil,

Had a look at coesfx, then some of the posts on moneytec.

They could be good one day.

Had problems with compliance at some point.
People can't seem to get a straight answer.
Glitches with software.
And wide spreads on the demo's 5/8

You have to dig to find out about that ecn set up so you can tighten the spread. But they are getting all their prices from the banks it would appear. Probably hence the wider spreads if you trade at market.

That ecn set up needs a lot of players in there to become fluid. Then it might be worth having a closer look when they are more proven.

Can't see what account min is to open on the site.

 

[neil]

Well well.
Glad I didn't have any day trades running cos old Saddam and the dollar spike would have triggered a few stops. And you would be glad you had stops

But see how euro/dollar is climbing back up due, no doubt, to overall funnymentals taking command once again.

 

[darktone]

Neil

Thats a point.. Would stops have been any use seeing as the news broke over the weekend when the FX markets were closed?
Wouldnt the price just have leapfrogged over your stop and not fired or have fired at the first price which was still almost 100 pips off the fridays close

food for thought

BTW lol to the avatar..

 

[Newtron Bomb]

A stop is only good if the price trades at a given level so if the price gaps the stop order wont usually be triggered

In such circumstances you may start thinking about phrases which include "a chocolate canoe" and "condom machines in the Vatican"

Regards
NB