My Live trades

[wirraltraders]

setting SL to -15 on fiber

 

[wirraltraders]

+45 pips up on fiber right now so bringing SL up to +15

 

[wirraltraders]

As it happens I never needed even needed the intial 70 pips which on 2 pairs is approx 1.6% for the trades on my account. I trade £20.00 pp on a spread platform (tax free) or £10.00 pp (same as Lord Flash) per point on 2 pairs. So by resetting I went to 3.3ish%. Volatility is something you have to account for occasionally though, you are correct there. Basically the premise is, v fast price movements are not usually sustainable (unless a plane has hit the Pentagon). "news candles" as I call them happen, look dramatic for a short while, then the market simply gets on with what it was doing and going to do anyway, so I will temp set and then reset SL. Do it all the time. My attitude to volatility of that nature is pretty laid back, been there before many many times..

Look at the hour candles last week on cable during that v volatile period I also commented on 100 point volatility during the day. Just draw a line through the middle of all of them and the market just continued in the same direction

I think the best guy to ask about volatility and the way the market makers use it, is Meanrevision - he used to be a Market Maker.

 

[wirraltraders]

+60 circa pips now on fiber so SL to +20

 

[wirraltraders]

stats on fiber (daily today). pips from open +93, high to low 129 Daily average 166. This can go further

 

[wirraltraders]

stats on cable (daily today). pips from open +15, high to low 106 Daily average 163. This can go potentially a lot further

 

[wirraltraders]

bringing SL up to -40 on cable

 

[wirraltraders]

circa +70 pips on fiber now bringing SL up to +37 pips

 

[wirraltraders]

cable looks really like consolidation above 15900 for further pushes up..

 

[wirraltraders]

will allow aud/nzd to hit descending trend line for reject down test

 

[wirraltraders]

resetting SL on aud/nzd to 70 will prob adjust later

 

[wirraltraders]

took +70 pips on fiber at 13933

 

[wirraltraders]

setting 100 SL on cable for any overnight volatility but b/e PL and then will look for new opportunities tomorrow ( presuming it closes) Leaving aud/nzd also its like watching paint dry, but the trend is deinitely down and its only matter of time before resistance at around the round figure forces it down towards 12900 but lengthened SL as a precaution to 100

 

[wirraltraders]

Quick update.

Took + 70 pips on eur/usd last night as previously posted

cable took the b/e PL (my take on this was that I would prefer to wait until after the BOE statement later before making any further decisions on cable. The market may ignore a rate hold or be disappointed with it, so there might be better opportunities after the statement

Aud/nzd Got a 50 pip rejection off the resistance I mentioned, but then changed my SL on aud/nzd back to 50 around midnight when I saw a strong bullish candle developing. Woke up this morning to find that the SL was taken.

Shame as that has undone a lot of my hard work on fiber making only a +20 pip gain for yesterday overall.

 

[wirraltraders]

bought cable at 15835, fiber at 13928 and aud/usd at 0.9845

 

[wirraltraders]

set 70 PL and 100 SL on each inititally

 

[scose-no-doubt]

bought cable at 15835, fiber at 13928 and aud/usd at 0.9845

abra cadabra

 

[wirraltraders]

abra cadabra

Price?

 

[scose-no-doubt]

Oh sorry, you long at 15835

 

[wirraltraders]

yes