July '04 Forex

[JonnyT]

With FXCM you dont have to sit at the screen all day you can choose your entry position along with your stop and limits should that position be triggered.

But can you have a stop automatically attached once the stop or limit has been triggered...

If you cannot then you have to sit at the screen all day.

JonnyT

 

[DESKPRO]

But can you have a stop automatically attached once the stop or limit has been triggered...

If you cannot then you have to sit at the screen all day.

JonnyT

Sorry JonnyT not sure what you mean. With FXCM if you want to say buy if EUR$ hits say 1.2200 you can configure the trading software for entry position to be a buy at 1.2200 and also predefine the stop and limit (profit) should that position becomes open say Stop at 1.2190 and limit at 1.2260 for example... in this situation you dont have to watch the screen because you have defined your risk/reward... also I find I am less prone to making emotional decisions because I have determined what by stops and profit points are beforehand.

 

[JonnyT]

Hi Deskpro,

If you can do as you say then thats good as no Spreadbet Co's allow this sort of order.

JonnyT

 

[JonnyT]

I've looked at the FXCM demo and I cannot set up a stop order with an attached Stop Loss should it be triggered. How do you do this?

Thanks

JonnyT

 

[DESKPRO]

I've looked at the FXCM demo and I cannot set up a stop order with an attached Stop Loss should it be triggered. How do you do this?

Thanks

JonnyT

In the Trading Station software click on Entry. You will be presented with another screen where you can define entry position and then the stops and limit shoud that position be hit. I agree spread bet companies dont allow this , used to use Capital Spreads but now using FXCM...stops and fills guaranteed... have had no slippages in demo or live mode yet.

 

[JonnyT]

Thanks DeskPro,

I'm going to give one of my strategies a go on the demo system and compare the results with real Globex futures trading.

Should be an interesting exercise.

JonnyT

 

[nbbo]

Fxcm

Does anybody know how wide the B/O spread on FXCM or Refco got during either the FOMC announcement or the nonfarm payroll jobs report. Thanks

nbbo

 

[cw1]

nbbo,

I've only got a FXCM demo account, but as far as I know it didn't change (eg. 3 pips on EURUSD).

Carl.

 

[neil]

Everyone doing OK with the euro/dollar today ?

 

[ChowClown]

Hi Neil,

+38 so far using the 1am-8am BO. How you doin'?

 

[Goober]

Slow day!

At 07.45, there was a hammer on a pivot level. Went short on the open of the next bar at 1.2320. First target is 1.2267. Currently +45 pips.

Everyone doing OK with the euro/dollar today ?

 

[neil]

slow but sure

Hi Neil,

+38 so far using the 1am-8am BO. How you doin'?

+33

 

[fazalv]

Gbpusd

1 Hour cable.

Currently short 1.8526.

Chart attached:
Trendline
Fib fans
pivot and S1

1st target 1.8450

Any comments.

ps. its been awfully quiet here...

 

[JonnyT]

My Cable Trader system took me short this morning at 1.8519

JonnyT

 

[Buk]

yeah, shorting off the early morning low looks like it was consensus today, one or two in the room took that play earlier.

Jonny/Faz.....do you book profits on the move??....I guess you stick your stop in & ride the move according to your system rules Jonny?

did you scale out at all Faz?....I pared & pulled the remainder on a move back thru the round number (intraday strat).....interesting to see how folks play these moves with their individual strats!

 

[hammer]

Hey guys, mainly trading dow and dax but am short on the july gbp/usd from 1.8489 with the breaking of the up trendline. I would say the cash bet is looking for a downside target of 1.8430 maybe using tuesday's resistance as support. Only speculations though.

Gonna read and learn alot more before i fill my trading account and try to make some real money! I hope!

 

[hammer]

Ok maybe we jumped in too early. I know i did!
Looking like a double top at 1.8580 with ND at the second peak with a possible downside target of 1.8385. Look to see if it breaks up if not then it looks like a reversal pattern. Will try to start posting charts. Anyone else got any opinions?

hammer :cheesy:

 

[fazalv]

Just got back from the dentist (extraction), bit whoozy......
took half at s1..
Stopped out on second lot at 1.8502....

 

[MysticalTrader]

Yep, I reckon it will test major resistance at 1.8610, then go to 1.90, dependiong on what happens in USA and the world in the meantime. Next major resistance at 1.9143. Looks like a cup and handle forming?

MT

Ok maybe we jumped in too early. I know i did!
Looking like a double top at 1.8580 with ND at the second peak with a possible downside target of 1.8385. Look to see if it breaks up if not then it looks like a reversal pattern. Will try to start posting charts. Anyone else got any opinions?

hammer :cheesy:

 

[MysticalTrader]

Or not.

Looks like it is testing resistance at 1.8610 now. Could always fall in a heap I suppose - but it bounced off the 50% retracement making the recent dip look very much like a correction. I reckon it will break 1.8610

MT

Yep, I reckon it will test major resistance at 1.8610, then go to 1.90, dependiong on what happens in USA and the world in the meantime. Next major resistance at 1.9143. Looks like a cup and handle forming?

MT