June '04 Forex
- Thread starter Newtron Bomb
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FetteredChinos
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Hi all, long time no speak. things are starting to settle down here at long last. been a busy bunny recently.
still settling into my new flat, sorting out FY05 budgets at work, been on holiday, and of course celebrated my first xmas dinner a week or two ago (gotta get them in early. pic attached. and yes, i was very very very drunk)
will be returning to trading early next week. looks like FX has been relatively dead recently...??
how are you all doing??
FC
still settling into my new flat, sorting out FY05 budgets at work, been on holiday, and of course celebrated my first xmas dinner a week or two ago (gotta get them in early. pic attached. and yes, i was very very very drunk)
will be returning to trading early next week. looks like FX has been relatively dead recently...??
how are you all doing??
FC
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FetteredChinos
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indeed ivorm, and that is the name of the game, surviving the bad runs long enough to capitalise on the good ones...
i'll post some charts next week when i have had a bit of a closer look at them..
FC
i'll post some charts next week when i have had a bit of a closer look at them..
FC
ChowClown said:
Hi CC,
Just as a matter of interest, why did you switch from Capitalspreads to FXCM. I can see that FXCM have a slightly narrower spread ( 1 pip better), but against that you're have to pay tax on your profits with them , whereas with Capitalspreads it would be tax-free.
Regards,
Hi ivorm,
I was trading off the bid charts supplied by FXCM when I used CS and I found too much of a discrepancy. Using the FXCM platform, I'm confident (and has been bourne out since using them) that when the chart hits a breakout price, I get filled at that price. As it's a bid chart I add 3 pips on top of the long BO entry targets, for short BOs there's no need. It's proving a very reliable and stable platform with no slippage.
I'm not in the same league as yourself ;-) I'm playing with a small amount of capital and in the first year, profits are unlikely to exceed mine and my wife's CGT allowance (£8k each now, I think).
I was trading off the bid charts supplied by FXCM when I used CS and I found too much of a discrepancy. Using the FXCM platform, I'm confident (and has been bourne out since using them) that when the chart hits a breakout price, I get filled at that price. As it's a bid chart I add 3 pips on top of the long BO entry targets, for short BOs there's no need. It's proving a very reliable and stable platform with no slippage.
I'm not in the same league as yourself ;-) I'm playing with a small amount of capital and in the first year, profits are unlikely to exceed mine and my wife's CGT allowance (£8k each now, I think).
Euro making a revival, as it had to at some point, but still hints towards a bear flag that might suggest more selling off next week. Short-term 2100 looks like a worthy opponent for the bulls.
Welcome back FC - I see you're reading Philip Pullman there... read the trilogy myself, very impressed indeed. For supposed kids' stories they're very theological, but a cracking read nonetheless.
Ben
Welcome back FC - I see you're reading Philip Pullman there... read the trilogy myself, very impressed indeed. For supposed kids' stories they're very theological, but a cracking read nonetheless.
Ben
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TheBramble
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JE2000 said:
Why?
Evening all
Been a day or three since anyone posted on here, so I thought I'd give my uneducated opinion on the Euro. This is by no means an unhedged call, but I'll just throw out some ideas and see if anyone wants to respond. Seems to me the upward channel that peaked at 2350 has broken, and if we are to see a medium-term return to bullishness then 2100 and 2115 are crucial. If these are not broken I will short E, with MA cross confirmation. A break above 2115 could mean a return to the upward channel and a re-test of 2350 and I will look to find a suitable place to go long - a safe bet at the moment would suggest 2120-2130.
Euro currently resting around 2050, which is fib 50% s/r on the 4 hour t/f.
On daily charts the Euro is still running a fairly good pattern line with 1950 being good support, and if this goes then look for 1900 to be hit, and if this goes then it could go a long way down.
A lot of Coulds, Ifs and Maybes - as I said, far from unhedged, but I am leaning more towards a failure of 2100 and a run lower. What do other people think?
Went long today at 2015 for +35, not too shoddy.
Ben
Been a day or three since anyone posted on here, so I thought I'd give my uneducated opinion on the Euro. This is by no means an unhedged call, but I'll just throw out some ideas and see if anyone wants to respond. Seems to me the upward channel that peaked at 2350 has broken, and if we are to see a medium-term return to bullishness then 2100 and 2115 are crucial. If these are not broken I will short E, with MA cross confirmation. A break above 2115 could mean a return to the upward channel and a re-test of 2350 and I will look to find a suitable place to go long - a safe bet at the moment would suggest 2120-2130.
Euro currently resting around 2050, which is fib 50% s/r on the 4 hour t/f.
On daily charts the Euro is still running a fairly good pattern line with 1950 being good support, and if this goes then look for 1900 to be hit, and if this goes then it could go a long way down.
A lot of Coulds, Ifs and Maybes - as I said, far from unhedged, but I am leaning more towards a failure of 2100 and a run lower. What do other people think?
Went long today at 2015 for +35, not too shoddy.
Ben
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Newtron Bomb
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redben
WD nice move up on Euro that you caught
Happy Trading
NB
WD nice move up on Euro that you caught
Happy Trading
NB
Well, we got the rejection of 2100 and the subsequent run down, but it hasn't happened very quickly. 2040 is proving to be a bit of a magnet for prices. Nothing's really changed imo - breaking of 2115 convincingly means medium-term upward movement and breaking 1950 to the downside could well spark a good fall. Only problem is that it's lacking direction as I type and it may take some news to raise it from its apathetic slumber.
My sell signal should have taken me short at 2043, but I remain unconvinced in terms of short-term direction. Will sit on my hands for a while, probably.
Ben
My sell signal should have taken me short at 2043, but I remain unconvinced in terms of short-term direction. Will sit on my hands for a while, probably.
Ben
....free week on Elliott Wave International, nice snippet on €$ update from yesterday.
"...the [Euro] completed a five-wave decline from 1.2352 at last night’s low of 1.1954. As we noted last Thursday, this pattern indicates that the next leg lower in Primary wave 2 (circled) is underway. The current bounce should be contained by resistance of 1.2118-1.2200 and lead to another leg down, in all probability a third wave. The alternate view is that last night’s low is wave a (circled), but as in the dollar, the top count and alternate imply the exact same thing over the near-term — more selling pressure ahead. Once the next leg lower starts, expect it to come under the April 25 low (1.1761)."
"...the [Euro] completed a five-wave decline from 1.2352 at last night’s low of 1.1954. As we noted last Thursday, this pattern indicates that the next leg lower in Primary wave 2 (circled) is underway. The current bounce should be contained by resistance of 1.2118-1.2200 and lead to another leg down, in all probability a third wave. The alternate view is that last night’s low is wave a (circled), but as in the dollar, the top count and alternate imply the exact same thing over the near-term — more selling pressure ahead. Once the next leg lower starts, expect it to come under the April 25 low (1.1761)."
....nope, just the BO system today (out for -60)....just had this through which tickled me good and proper http://places2.jump-around.com/closest/
