USDCHF TRADE:
Ok, market was as low as 1.3080 - 30 pips above specified 201 pip target at 1.3050. The price fell +120 pips in last half an hour; I think there is more from where that came from; trade will be held for lower level - maybe eventually 1.28 (the year low).
Ok, market was as low as 1.3080 - 30 pips above specified 201 pip target at 1.3050. The price fell +120 pips in last half an hour; I think there is more from where that came from; trade will be held for lower level - maybe eventually 1.28 (the year low).
Newtron Bomb
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Nice trading....
I was looking at this chart last night and have been watching the action today, am thinking of adding this to my trading list.
Regards
NB
I was looking at this chart last night and have been watching the action today, am thinking of adding this to my trading list.
Regards
NB
Hi NB,
Actually, many say USDCHF is in some way even better to trade than EURUSD, but I dissagree - euro/$ is definatly the best instrument on currency market...but then, its all matter of what works for each and every one fo us. Still, I know many who trade ONLY USDCHF, so ... what can I say - Good Luck!
Regards,
Actually, many say USDCHF is in some way even better to trade than EURUSD, but I dissagree - euro/$ is definatly the best instrument on currency market...but then, its all matter of what works for each and every one fo us. Still, I know many who trade ONLY USDCHF, so ... what can I say - Good Luck!
Regards,
turtle trader
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I like to look at the 2 pairs (Euro/$ & $/CHF) together as their actions are so closely linked. They will often follow the same path (in reverse) so I might look at 1 pair to confirm what the other is doing, or alternatively (as they are likely to do more or less the same thing) i'll place the trade on whichever i perceive to have the best risk:reward ratio.
Turtle
Turtle
Newtron Bomb
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Hi Rezo
Yeh i was like that but with gbp and eur with an occasional punt on the yen.
Your right it is down to personal preference. Forex is becoming more my main trading vehicle now.
Happy trading
NB
Yeh i was like that but with gbp and eur with an occasional punt on the yen.
Your right it is down to personal preference. Forex is becoming more my main trading vehicle now.
Happy trading
NB
Turtle,
I still prefer trading both; yes it is not that much of a diversification, (cable <-> euro are less corelated yen also), but still, this is how I see it.
jamus, well, your words came true - we were already above the high. I think 1.20 is the next station.
I still prefer trading both; yes it is not that much of a diversification, (cable <-> euro are less corelated yen also), but still, this is how I see it.
jamus, well, your words came true - we were already above the high. I think 1.20 is the next station.
darktone
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hello rezo
you've been through mill a bit lately so nice to see your back in tune.
Have to agree with your comments regarding E/$ its far more predictable than cable say for instance, it actually obeys its technical levels but when it breaks its usually clean. Trying the same strict approach with cable etc would have you whipped all over the place. Im still struggling to find something i can apply to the other pairs that i fell comfortable with but am failing im failing so far .
Have to change my name to E/$ boy if it continues!
regards
GL
DT
you've been through mill a bit lately so nice to see your back in tune.
Have to agree with your comments regarding E/$ its far more predictable than cable say for instance, it actually obeys its technical levels but when it breaks its usually clean. Trying the same strict approach with cable etc would have you whipped all over the place. Im still struggling to find something i can apply to the other pairs that i fell comfortable with but am failing im failing so far
.Have to change my name to E/$ boy if it continues!
regards
GL
DT
Good Morning Everybody,
Still holding the short USDCHF.It occured to be the right decidion not to cancel the tp order at 1.3050 and hold profits to run further, bcos now we are 100 pps below, and I think we are going to see more. There is a good chance to see a break of the year lows, so I will keep this trade for now. I am also holding long on euro and think it is going to break above the 1.20 level.
Anyway, for those who's holding the short USDCHF, I suggest keeping it - maybe to the end of the week, dont know exactly. Stop will be moved by the end of the day to its high to lock some profits. Will post once I do.
DT:
yes, thank you. I always talk about risk:reward in these cases. Many argue that they dont even set a target, because it is useless - closing should be according to market signals, and onle stop losses should be set; but I still think that r:r is essential to survive. Maybe closing of position will not be exactly at the target, but one should estimate if under certian risk, there is also potentially worthwhile target that is reachable in current market conditons. That is what should keep the trader in business. Look at my trades - I have been in losses since October, and now in 2 days I recovered all losses for 2 months and am even in little profit (I am holding 3 positions right now: swissy, euro and eur/jpy). That is why keeping r:r as high as possible is essential...
As for euro, yes, as I said that is my opinion as well - it is responding to technical conditions like no other instrument on this market...
Regards,
Rezo
Still holding the short USDCHF.It occured to be the right decidion not to cancel the tp order at 1.3050 and hold profits to run further, bcos now we are 100 pps below, and I think we are going to see more. There is a good chance to see a break of the year lows, so I will keep this trade for now. I am also holding long on euro and think it is going to break above the 1.20 level.
Anyway, for those who's holding the short USDCHF, I suggest keeping it - maybe to the end of the week, dont know exactly. Stop will be moved by the end of the day to its high to lock some profits. Will post once I do.
DT:
yes, thank you. I always talk about risk:reward in these cases. Many argue that they dont even set a target, because it is useless - closing should be according to market signals, and onle stop losses should be set; but I still think that r:r is essential to survive. Maybe closing of position will not be exactly at the target, but one should estimate if under certian risk, there is also potentially worthwhile target that is reachable in current market conditons. That is what should keep the trader in business. Look at my trades - I have been in losses since October, and now in 2 days I recovered all losses for 2 months and am even in little profit (I am holding 3 positions right now: swissy, euro and eur/jpy). That is why keeping r:r as high as possible is essential...
As for euro, yes, as I said that is my opinion as well - it is responding to technical conditions like no other instrument on this market...
Regards,
Rezo
Looks like I will be adding another trade - long cable (as I mentioned before). I will post once/if I enter. 2 positions will be entered - one longer term for estimated target at 1.7200/20 and second for the shorter term 30:50 risk:reward.
I say 2 positions but basically it is one position, just that half will be closed at 30 pip stop or 50 pip target and second half is for longer term target and accordingly with wider stop. Shorter term 30:50 trades may be reentered if confirmed even after stopped - just as Euro trade couple days ago. That is the nature of shorter term trades, nothing to do about it.
I say 2 positions but basically it is one position, just that half will be closed at 30 pip stop or 50 pip target and second half is for longer term target and accordingly with wider stop. Shorter term 30:50 trades may be reentered if confirmed even after stopped - just as Euro trade couple days ago. That is the nature of shorter term trades, nothing to do about it.
Buy GBPUSD now @1.6998
[email protected]
initial target 1.7220
Half volume will be closed on 50 pips target or at 30 pips stop.
order of course is cancelled
[email protected]
initial target 1.7220
Half volume will be closed on 50 pips target or at 30 pips stop.
order of course is cancelled
