Forex Trading - November 2003

[illuminato]

EUR reversal day?

EUR-$

Potential Key reversal day, especially bullish if we can close > 1.1550. Lets see...

 

[neil]

I'm long since 1420 on Euro/dollar ( triangle breakout and upside break of my 5 min ema34......bit of a steep climb...so watching for an exit, therefore now switched to one min chart for trendline exit (34ema) when it happens

 

[neil]

out at 1516...1 min. seems to be rounding off ...well thats my excuse

 

[options]

Good exit Neil.
Gives you a few pennies m8

 

[neil]

Thanks Options - have a good weekend.

 

[leeshindig]

hope your all short gbpvchf......

could head down another 100 yet before retrace........

only my opinion of course...im regularly wrong.....but also right

 

[orchard]

NB,

No have no feeds only SS end of day and the charts on CS.
Have other charts on PC but nothing actually live - all delayed.
If I get worried I keep my eye on the spreads live - sometimes gives a clue!.
Orchard

 

[Newtron Bomb]

Orchard
check out www.futuresource.com you should be able to get the charts you want and they do a 15min delay with an auto refresh option after x mins.

HTH
NB

 

[darktone]

Well ive got my 1.1530 addition, lets see if it fails. wouldnt normally be taking this sort of position near weekend but for the cusion.

GL and a good weekend all

Regards DT

 

[neil]

Forex Trading System....Test

Hi Folks,
Saw this system on another site being tested by JT.



http://eurostoxx50.co.uk/cgi-bin/yabb/YaBB.pl?board=Strategies;action=display;num=1068208172


Have a look and see what you think. :idea:

 

[neil]

And here are some articles relating to forex matters


http://www.investopedia.com/search/results.asp?q=forex&index=articles&submit=Search


Enjoy

 

[orchard]

Thanks all I will investigate.

 

[turtle trader]

Fed Up!

OK, now i'm really fed up!

At about 12.45 today I went long Euro/$ @ 11760, then at about 2pm we had a power cut, for the first time since moving here about 15 months ago. So I closed the trade over the phone for 20 pips profit to make sure I didn't get caught out whilst the power was out. Well the power's now back up & guess what - so is the Euro/$ - by over 100 pips!

I'm going down the pub!

turtle

 

[neil]

Yes - but it could have gone the other way.

And you have 20 points profit.

So well done on managing your trade.

 

[turtle trader]

Thanks Neil, that almost makes me feel OK!

Turtle

 

[options]

You did the right thing. At that time it got a bit sideways. So power cut, close out, profit 20 pips. The only other thing you could have done differently would been to have put a stop in.
You would have ended up with 15 pips or less had you used wider stop, and possibly nothing at all as it could have breeched your stop if set at your entry point, then took off leaving you with nothing.

The problem I suffered was worse. At the height of that move my charts lagged by between 15 and 22 pips. So guess who starting reversing too early!

 

[jamus]

I bought @1.1786 (2:43gmt), bought some more @ 1.1807(2:47gmt) and again at 1.1871 (3:08pm) closed @1.1898. Wish everyday was like today. Anyway I know the feeling when you miss a big one. The other day I went to the gents..and guess and I missed the big move. What I tell myself is that the market will give me another good chance sooner or later and 20 pips is still a good profit.

 

[turtle trader]

You're absolutley right about that stop, Options - at the time my thought process went something like 'Aaah! Help! What's going on?' and reached frantically for the phone. 2 minutes later I came up with your plan, but it was obviously too late.

Must remember to think more calmly next time i'm panicking!

Turtle

 

[Newtron Bomb]

Hiya folks

A bit late to the party.

Long eur$ @1.1810 covered entry free trade
Long gbp$ @ 1.6920 covered entry free trade
gbp was a bit of a gamble as teh chart looks a bit of a mess

turtle

Nice trading today, a profit is a profit and under the circumstances you had too :cheesy:

euro$ chart shows bull flag within the tail end of a dec. tri.

Regards

NB

 

[options]

Jamus:
Well played. That's similar to my approach by putting out a line. Racks it all up very nicely.

TT:
It's just practise m8. Until it happens a couple of times, you don't think straight. So those sb's with the screw up sites do provide a service after all. Only you don't know it at the time

What I'm after now is trailing stops on orders. Can't find anyone who does them at the moment.

Still holding these positions, and guess who's averaging down?
Now before you all start shouting at once. I began at the top and am back in profit; And with all things being equal again, a little bit further left to go. Averaging down in certain conditions is perfectly acceptable. Had I started at this point now. (In relation to chart.) I would still be in loss position.