wasp

exited at 212.55 for +100 and done for the week. Sod NFP, going to the pub! EDIT: I have move all discussion to the 'trade discussion and analysis' thread so this one is left for 'live trades'.

Exited for -30 Shorted @ 213.55 (on the 4hr candle whilst trying to sleep so you had no hope the post would be made live!) Well done cowpip, you were correct but stats wise, I am happy to take the loss regardless, still got plenty of edge!

I know that major news comes out at half 8 and half 1 UK time but that's the extent of my attention. I've tried both and TA always just works best for me, regardless of the news. I am in the camp of the chart leading the market and the news uncanilly tying in nicely. Normally!

Nope. Well, whilst I am aware of this credit crunch thingy, I tip my hat to anyone who can actually make consistent profits through fundamentals. Not my way though.

I am long off support and waiting for a rejection of resistance at IMO, 215 or, a break of the support that got me into this long in the first place!

Nice tie btw! :o

I thought you sat around talking shop all day and not actually trading much as it is (middle management bankers! pah!) so surely this should be a walk in the park for a range bound Thursday like today!

Ok, I'm back! I am STILL long from 213.85 (yesterday I think - I've been sitting on this trade so long I forgot when I entered!) and it looks like I will be in till post-NFP... So to bring things up to speed... Long GJ @ 213.85 Stop @ 212.25 Looking for (hopefully!) a break of 215, then even 215.90/216 if possible...

Precisely. Unless there is an exchange, no one chart provider could provide these stats as there is no central body taking every single piece of information. I think we are just confirming each other here so I'll sod off!

End of the day, surely, the simple fact that, as there is no exchange, means no one chart provider will have all the figures, whether its IG Index or Reuters. The only way you can have a true representation of volume is if all trades go through an exchange (ie futures). Unless this is the case, you are never going to get a full representation of volume and thus, its all b*******. EDIT: GJ beat me to it!

Just musings from yesterdays postings and to show FW that it comes and goes but it never ends..... Just have to hold through the crap and enjoy the good!

Sorry, one of these days/moods!

Are you sure

I am a bit of a workaholic though and have alarms to wake me every 4 hours to adjust positions so sleep doesn't get too much in the way! I find trading non US pairs much smoother tbh. Anything US related (yen or any other pair) has a tendency to spike or chop more often whereas GJ glides happily about in the background chucking out some tasty returns (usually!) Now if it was Gigantic Juggs that would be better!!

It certainly would. There's nothing worse than wasting a whole day for a tight range only to exit and go to sleep and wake up to find you missed a big move. That is the problem with Yen pairs though, statistically (for the EJ and GJ anyhow) to move more in the Asian sess than the US sess. Don't usually trade UJ as I prefer the bigger movements of GJ (greedy sod!) but this week has been so little compared to the last 2 that none of the yens offering much. All that said, you just keep on battling on and wait for the bigger moves like a boxer waiting for those good punches. Can't have 200 pips every day I guess (would be nice though!) PS: When I say GJ, I mean GBPJPY not short for GammaJammer (before you get a complex there mate! )

Nice one. I like your 'cowpip is...' ... I wouldn't mind a 48 hour day too! It would give GBPJPY a chance to continue and would make it worth waking up this morning!

Whilst you know I wouldn't lie to you...! I am already long and bored out of my tree! Went long on the break of the S/R as shown and slowly dying a painful death of monotony. I don't know why people say you should be cautious with GBPJPY :\

Well I spoke to soon! The state of GBPJPY this week it might as well still be the weekend with the (non) amount of movement happening.

I take everything I read with a pinch of salt anyhow and it hasn't really told us much we don't know (EU No. 1 and cable a late 2nd) and that, yes, more transactions took place, which, to the average retailer, means little to affect them anyhow.

http://www.reutersfxhub.com/fxhub/blog-detail.jsf?title=fx_market_turnover_soars

FX market turnover soars Category: Industry news Tags: cable, eur/usd, usd/yen The Foreign Exchange market continues to thrive with UK average daily turnover up to $1.82 trillion in the six months to April. This represents a rise of 54% from a year earlier. All of the major currencies lost maket share as emerging market activity increased. The most heavily traded currency pair was Euro/dollar with 29% of total turnover, followed some way in the distance by Cable at 12% and Dollar/Yen at 11%. Obviously this increase in volume should mean that you get tighter spreads, increased depth and better stops from now on OK ? Good to see the important things aren't being affected!

FX market turnover soars Category: Industry news Tags: cable, eur/usd, usd/yen The Foreign Exchange market continues to thrive with UK average daily turnover up to $1.82 trillion in the six months to April. This represents a rise of 54% from a year earlier. All of the major currencies lost maket share as emerging market activity increased. The most heavily traded currency pair was Euro/dollar with 29% of total turnover, followed some way in the distance by Cable at 12% and Dollar/Yen at 11%. Obviously this increase in volume should mean that you get tighter spreads, increased depth and better stops from now on OK?! Good to see the important things aren't affected! Hope everyone is doing well? Not been spending much time at the PC, just pressing the button at S and R (then S and then R!) then getting back in the sun! Back when the rains come!

getting there............

Few things to take care of so off for the week.... catch you all next week Good trading!

To what degree do you mean? I can say GBPJPY is going to hit the 213.50 region before it will hit 209 but do you want the exact pip and/or every swing in between?