Fx 2008

[Bigfarmer]

EUR/JPY still keeping within its uptrend from yesterdays low.

But will it bounce down off the 100MA again at just under 139. (Done this twice this morning)

H&S on the 5 min chart with the neckline in pretty much the same place as the up trend from yesterdays low at about 13750.

 

[VingTsunKuen]

Trouble is Ving, you can lose it a lot quicker too

Today i have picked USD/JPY because SL was smaller(45 pips) than on GBP/JPY(100 pips)And on IBFX spread on U/J is better than on G/J.
But in other hand you can loose quick on any pair.So it is up to your estimation which one to pick if you have signals for few pairs at the same time.
Cheers,
VTK

 

[trendie]

is anybody trading?
what with the collosal 200 pip range on GBPUSD this morning, how can you realistically position-size for that?

I feel that there should be massive profits to be made, but you have to factor in larger stops, and smaller sizing, to the point that you only make "normal" returns.
but, its manic to the point of being staying on the sidelines.

its like wanting to ride the rollercoaster, but afraid of throwing up if you do.

 

[Gumping]

Nice wedge on the 4H EUR/USD - might get a decent trade out of that.

 

[neil]

is anybody trading?
what with the collosal 200 pip range on GBPUSD this morning, how can you realistically position-size for that?

I feel that there should be massive profits to be made, but you have to factor in larger stops, and smaller sizing, to the point that you only make "normal" returns.
but, its manic to the point of being staying on the sidelines.

its like wanting to ride the rollercoaster, but afraid of throwing up if you do.

Try using the Inside Bar (Dib). Other side (top) is your stop. I am on one hour chart though. Caution - look at Daily chart - price might bounce off previous daily swing low?

 

[trendie]

have you ever tried to be "too clever" with the markets, coming up with some fantastic nuances of your system, only to find it caused confusion, and cost you money?

how do you, when sat in front of the screen, stop yourself from coming up with new reasons to trade, only to realise its a figment of an overactive imagination, and to see your original (simpler) plan come up trumps, yet again?

I am finished for the week. just chart-watching for a bit before 4pm.
hope you all had a good week.

is it normal to always find a reason to be in?

 

[Gumping]

have you ever tried to be "too clever" with the markets, coming up with some fantastic nuances of your system, only to find it caused confusion, and cost you money?

how do you, when sat in front of the screen, stop yourself from coming up with new reasons to trade, only to realise its a figment of an overactive imagination, and to see your original (simpler) plan come up trumps, yet again?

I am finished for the week. just chart-watching for a bit before 4pm.
hope you all had a good week.

is it normal to always find a reason to be in?

I remind myself that I'm a moron and know jack-sh*t about trading! That usually stops me jumping in willy-nilly.

 

[rags2riches]

have you ever tried to be "too clever" with the markets, coming up with some fantastic nuances of your system, only to find it caused confusion, and cost you money?

YES. I only seem to learn through the process of repeatedly getting slapped and losing money.

how do you, when sat in front of the screen, stop yourself from coming up with new reasons to trade, only to realise its a figment of an overactive imagination, and to see your original (simpler) plan come up trumps, yet again?

I haven't attained that nirvana yet but I am working on it

I am finished for the week. just chart-watching for a bit before 4pm.
hope you all had a good week.

is it normal to always find a reason to be in?

I am beginning to see the benefits of longer term swing trading as opposed to intraday trading during powerful trends.

Do any of you longer term traders plan on holding positions over the weekend? The thought of prices gapping a few hundred points against me on Sunday isn't a nice one. I think I will close this evening.

I had a shocker today but if USD keeps strengthening I might recover...

Have a great weekend all.

 

[VingTsunKuen]

Bank holiday in USA,Canada and Japan....Bad day for trading
Cheers!
VTK

 

[Second income trader]

So has anyone views on the best currency pair to trade on the assumption the latest intervention has negated the crisis and the flight to safety seen in the last 2 weeks with buying of the $ and Yen is over and we're likely see a retracement from the possible overbought positions?

 

[wasp]

So has anyone views on the best currency pair to trade on the assumption the latest intervention has negated the crisis and the flight to safety seen in the last 2 weeks with buying of the $ and Yen is over and we're likely see a retracement from the possible overbought positions?

GBPJPY... there's no better pair! Smooth, huge and easy to move!






EDIT: just noticed how corny that was, sorry!

 

[Second income trader]

GBPJPY... there's no better pair! Smooth, huge and easy to move!


So would you be long or short on GBPJPY? A commentator on Bloomberg at the weekend fancied going long, purely on it being over extended, but I'd have thought there would be better pairs to trade on an assumption that Yen was overbought and the carry trade was not completely finished (AUDJPY perhaps?). I can't think anyone would be looking at a long GBPJPY based on GBP long given the fundamental weakness of GBP at present...

 

[wasp]

Are you looking to hold for some time then?

I am a day/swing trader so long term outlook is not really my thing.

 

[Second income trader]

Are you looking to hold for some time then?

I am a day/swing trader so long term outlook is not really my thing.

Sorry I should have clarified , I'm a position trader, so anything from days to a month tops.

 

[wasp]

Hoggums (member here) is probably your best bet

 

[neil]

GBPJPY... there's no better pair! Smooth, huge and easy to move!






EDIT: just noticed how corny that was, sorry!

Here is a trade on GBY/YEN using Daily Inside Bars (DIBS)

 

[wasp]

Bit of an inverted H&S on the GBPJPY....... If you like that sort of thing!

 

[Hoggums]

Bit of an inverted H&S on the GBPJPY....... If you like that sort of thing!

I'd go for AUD/JPY - absolutely massive move with a probable massive retracement to follow.

Trade small though.

 

[Second income trader]

I'd go for AUD/JPY - absolutely massive move with a probable massive retracement to follow.

Trade small though.

My thinking too, looking to go long at 7350 on break above hourly high this morning. I'm also looking to go short EURUSD once the downtrend resumes...

 

[VingTsunKuen]

Is anyone trading?Second day without a single trade!It looks like that today i will not pull the trigger.Lot of consolidation is going on
But at the other hand standing aside is also legitimate position which can save money and keep us out from low probability trades.
In hope of seeing trends soon,
VTK:cheesy: