oiltanker
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its just chopping about. waiting for the usa again?
while 3900 holds its a down pattern but it doesn't really seem to want to go down and is staying within easy striking distance of the 3900.
i normally trade eur/usd so this is only the 2nd day on ftse. i used to trade it a year ago but stops that were 5-10pts became 50pts 😱 during the volatility so i moved out.
Bloodhound
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Definitely feels like a day to be doing something else.....
wallstreet1928
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Oh just the chap i was looking for.........!!
can you please advise where and how to start trading currencies please, especially eur/usd as it affects oil, gold price etc.........
Jock Strap
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We may well test the earlier low of 3840 at this rate
now if I only still had that short ha ha!
now if I only still had that short ha ha!
oiltanker
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usually its interest rates [which means watching the bond markets] that move currencies but at the moment it safe haven buying of the dollar. all markets are pretty much moving in tandem at the moment in thin markets. apparently there are 100s of billions on the sidelines waiting to be invested once the bad bank story gets a floor.
action forex news is worth a look to get a feel. i spreadbet currencies with ig.
i trade all charts the same. Daily and 30 min to see the pattern with 2 min trigger for the retrace.[to keep stops small] but i know everyone has their own probably more successful method. it keeps me out of picking tops and bottoms which is death in forex as they are known for keeping long trends [weeks]- after all how often do interest rate changes happen and when they do it tends to be in one direction for a couple of years?
over a year ago there used to be a live fx trades thread every week- some trading gb/usd others eur/jpy etc which was helpful. some of the people on that are now T2W advisors so it might be worth to put a thread up the fx section asking about fx and see what happens?
oiltanker
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yes.i never got an entry. but you don't get them all with any system.
Jock Strap
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long at 3840, sl 3830
oiltanker
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Jock Strap
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Moved my stop to b/e when it hit 3855, stopped out...
Bloodhound
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Anyone got any open postitions at the moment???
Jock Strap
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no but I'm kicking myself for trailing my sl too soon
Geofract
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Yeah, 2 spot on calls this morning I think! Excellent!
Stick with them next time I reckon...
Bloodhound
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Hindsight's a wonderful thing - and extremely frustrating IMO!!
I can't see any direction at the moment... I guess it's lunchtime and we have the US open to look forward......
Geofract
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Jock Strap
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Yeah, they need to be wider and trailed a bit less aggresively. Otherwise minor retracements take me out.
It's all a learning game...I'd be +15 on that last one atm...........
ftsescalper
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anyone trading here today ? hmmm my times are all wrong. I'm new here and it looked like no one had posted anything since 8am. Any ideas how to change the time settings ?
Jock Strap
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Sure, I don't think it's that scientific and open to be picked apart!
3835 was the earlier low on the day, and 3840 crops up a lot in my recent analysis. I figured we may see a bounce if others saw it as significant and hence some short profits are taken or others also buy in.
My rationale was quite similar on the short at 3880ish.
Basically I was playing the range. I have taken quite a few points from this recently.
With both of them I would (and could!!) have taken 20 points. Damn my patience and PC!!
Jim
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