FX Trading May 21-25

[Crap Buddist]

I would be interested to know which brokers people on here are using and who they specifically recommend ?

Thanks in advance


Paul

I use Oanda, fully automated, market makers bucket shop , make of that what you will , of course, but spreads and execution ok, spreads 1.2 EUR/USD, 2.5/2.8 cable, USD/jpy 1.8 and saw GBP/jpy 4 today.

But those spreads get fat when news comes out. I suppose if your sensible you can use that as a measure for when the liquidity and spreads come back in. ?

They aint so bad.

 

[2be]

I would be interested to know which brokers people on here are using and who they specifically recommend ?

Thanks in advance


Paul

Hi T333 I use a couple, but CMC I have used for last 4 years or so. I also used REFCO, sisnce then I would recommend local or European firms, though I hold FXCM account in sterling and can have their Demo for practicing, and a bit of fun to read their reco with 300pps SL

 

[JillyB]

Sell trade taken at 1.9850/53 on Cable - will leave this overnight and see what's happened in the morning.

 

[jacinto]

ok, wolfie wolfie on euroyen, and i am now moving to BE. have the option to close now for +23, but will wait and see. Dont want Tokio Joe to think he can make the break of 164

targets on pattern are 162.25 by Friday afternoon. will see tomorrow if im still in.

evening..
j

PS I really hate shorting this currency. its like shorting the dow on a swinger.

morning. about to leave. this thing got to target to the pip.
I wonder why i dont trust my targets.

lack of patience is what doesnt allow me to be a swinger.

right, got to go.

a bien tot

j

 

[2be]

Sell trade taken at 1.9850/53 on Cable - will leave this overnight and see what's happened in the morning.

that was good call. Do you use OCO on these trades. Sorry if I have missed it from your previus postings.

 

[zuke]

I would be interested to know which brokers people on here are using and who they specifically recommend ?

Thanks in advance


Paul

I use Oanda, as I have found them to be reliable. I also use North Finance as they use MT4 and have good spreads on the exotics that I like to trade (Scandis, MXN, PLN and HUF)

 

[zuke]

Morning all. On the sidelines on Cable at the moment as I havent got a clear direction yet. I have large positions on GBP/CAD (Short 2.1537) and Dow (Long 13448) so most of my day will be spent monitoring those. I am biased to the downside on Cable, but need to see hourly closes under 9850 for me to get involved.

Good trading to all

 

[JillyB]

that was good call. Do you use OCO on these trades. Sorry if I have missed it from your previus postings.

Yes I use an OCO, that way I can leave it overnight without worrying about it.

 

[a_gnome]

Yes I use an OCO, that way I can leave it overnight without worrying about it.

Hi Jill,
I was looking to have a go (with small size) on your method last night. However whilst the high formed before the low yesterday to me the whole of yesterday's action is that of congestion within a range (a bull flag) and a sell signal didn't feel right. So I left a buy order in over night at 1.9830 which I missed by a few pips. Have you thought about changing your method according to whether it was a proper day's range or something narrow like yesterday? Perhaps a minimum range filter might help.

As its 7:40'ish now and your position is a little off-side are you going to instigate your 20 pip profit target now or simply take the loss?

 

[JillyB]

Hi Jill,
I was looking to have a go (with small size) on your method last night. However whilst the high formed before the low yesterday to me the whole of yesterday's action is that of congestion within a range (a bull flag) and a sell signal didn't feel right. So I left a buy order in over night at 1.9830 which I missed by a few pips. Have you thought about changing your method according to whether it was a proper day's range or something narrow like yesterday? Perhaps a minimum range filter might help.

As its 7:40'ish now and your position is a little off-side are you going to instigate your 20 pip profit target now or simply take the loss?

Hi a_gnome,

I don't look at the day's range at all - only the high and low and where the price is at 10pm in relation to these.

If I'm not in profit by 8.00am - which looks unlikely at the moment - then I will set my profit target down to 20 pips. There are quite a few days when the system takes 20 pips late - but it hasn't really happened in the last three weeks whilst I've been trading it. I think I've just got to get used to it sometimes not being in profit by 8.00am.

 

[Crap Buddist]

Closed long 1.9849 and reversed short 1.9869. Taking my 24 hour performance to -18 odd, so far. new day so better performance hopefully after getting whooped mainly on the mark up, which cost me -38 to close short and get shafted on the long.

anyway short 1.9869 stop 1.9902

 

[Crap Buddist]

moving stop down to 1.9884, looking at it any break of there wont be good I think. Reduce risk, should be going down from here . Thats enough room from here on this one.

 

[The Pearl Fisher]

Cable traded within a steady 30 point range overnight. Early morning saw a 20 point upward move to the 1.9880 levels only to be swiftly rejected, retreating 30 points to the 1.9850 area. Cable now looks set to continue the 30 point range bound trade for the remainder of the morning.

Cable: A lower move is likely to come later this morning, touching the 1.9820 level. US open should see continued Dollar demand taking a further toll on cable. Sub 1.9800 is likely before the close of the London session.

 

[JillyB]

Got out for +1 pip. You see that's what happens when I'm not at work and sat in front of the computer! I take a profit - any profit - and don't let it go to my target. There's no hope for me - I've decided!!!

 

[a_gnome]

Ouch! I think that I bought the exact high of the day there That was a nasty bit of whippiness. About to get stopped out for the full 2% risk.

 

[trendie]

failed to take out y'days high. my short is safe-ish, as euro-open didnt breach it either.

contemplating another short if it reaches 870 for a better overall position. (wedded to the short)

 

[Crap Buddist]

Got out for +1 pip. You see that's what happens when I'm not at work and sat in front of the computer! I take a profit - any profit - and don't let it go to my target. There's no hope for me - I've decided!!!

Why ?

 

[The Pearl Fisher]

Cable traded within a steady 30 point range overnight. Early morning saw a 20 point upward move to the 1.9880 levels only to be swiftly rejected, retreating 30 points to the 1.9850 area. Cable now looks set to continue the 30 point range bound trade for the remainder of the morning.

Cable: A lower move is likely to come later this morning, touching the 1.9820 level. US open should see continued Dollar demand taking a further toll on cable. Sub 1.9800 is likely before the close of the London session.

Addition:

Cable: A quick re-test of the 1.9880 level is possible if a break below 1.9850 is not sustained.

 

[Crap Buddist]

Ouch! I think that I bought the exact high of the day there That was a nasty bit of whippiness. About to get stopped out for the full 2% risk.

I bought 1.9883 yesterday , then got shafted. very quickly when 73/75 just gave way

 

[oiltanker]

everything is flat. i'm thinking light market and mainly range trading today till lunch?