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torero
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Everything posted by torero
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Keep posting, Andre, I'll just copy and paste PMs to him on fxstreet :haha: Wow, new high for EU again, not surprised it was a matter of time. Been watching the ascending triangle forming since mid-March, now to make a decent entry...
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Apparently my target didn't even make it to 1.9620 before it went the other way and hit my stop. I had a small position on since I saw GBPUSD was not doing much except going the other way, which I didn't like that too much. Thanks, guys.
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I have short on for GBPCHF, anyone has any close support other than 1.9620? Today has been very tight despite the important news coming out. Is there any reason for this action?
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:haha: I like that line! have a good weekend! I think I'm liking GBPCHF more and more, rides like a wild buck but it can be nicely rewarding. Now I have 4 favorite pairs, GBPUSD, GBPJPY, EURJPY and GBPCHF. I think it's more than enough to keep my eyes busy.
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Sorry bearbull, I'm not familiar with spreadbetting and futuresbetting orgs in UK or Gibraltar. All of my accounts are in US as I'm more familiar with their laws and consumer rights. I trade forex, not currency futures, just because there are more pairs to trade from than futures. Brownsfan and a few others do trade currency futures. They trade the most popular and liquid so no sense in trading forex right? I think futures are a bit cheaper on the commission side.
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Welcome forsearch! Take your time and enjoy the flower=reading=learning. Trading is like a good wine: you can't rush it, you can open and enjoy it when it's time.
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Mister Ed = ZERO spam tolerance! Well done!
torero replied to brownsfan019's topic in Announcements and Support
Taken care of it! Badaboom badabing! -
Since I only play the small timeframes the technicals is all I need (except for news time) but am interested in the behind the scene policies that affect these currencies in the higher timeframes. It seems the $ has been pushing off 1.59 three times on 240-min charts. Interesting how well it can fend it off again next week. I'm still leaning on the resistance being broken (ascending triangle forming on 240-min). Thanks all for the insight, nice breath of fresh air to see what the big guys are thinking.
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Ha ha! Funny quote! I've been dabbing with GBPCHF and seems to move a bit better (smaller timeframes, not sure what frames you guys trade from). Lots of spunk. For last few months, this baby has seen some real action, big drops. That's why I asked about GBP or is it the CHF that's seeing strength?
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I think the real estate market has been the backbone of the growth in Spain but when it's been deflating faster than expected because most don't take into account the GBP being so weak against the €, so the big percentage of tourism and demand from the Brits have been unaccounted for. So everyone is using the word "crisis" already. This is the reason why I'm asking whether the Brits are now tempted to go US or Eastern Europe for holidays rather than the Eurozone.
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If you're talking about scaling out, then yes, there are disadvantages but for some, the need for instant gratification is still uncontrollable so by taking off a 1/4, 1/3, etc. to make him feel better and let the rest run. At least he's more of less breaking even if the rest don't pan out. Sometimes, meeting a resistance/support zone with full position can be somewhat risky if prices reverses and runs away. Just saying, taking some profits and let the rest ride wouldn't be a bad option is all. I do it but I do it scaling in a well. I'm speaking of scaling in when the market goes my way, not averaging down. I think the problem with new traders is that they tend to take profits too fast , usually the entire position and miss out on the rest of the trend. I think this is a best progressive way to encourage them to stay in a position longer when the trend is going their way and learn from "holding when you're right". I, for one, get more aggressive when the market tells me I'm right, I'll pile in.
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The data schedule must be wrong then. Seems nothing is moving.... hmmm. Changing the subject here a bit. I know USD has been the only one taking beating against other currencies. Seems the GBP has been hit hard as well. Is there growing sentiment against the UK economy and the currency itself? The Brits I'm sure are kicking themselves for not having joined the Euro currency or am I assuming too much?
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Hi guys, Just checked the economic schedule for tomorrow. From what I see the rate is schedule to be released at 8:30am ET. Is it me or it's not the normal hour right? Looks like USD, CAD, EUR and GBP will all have their own news. This is probably the first time since started trading currencies I've seen so much news coincided at the same time. Was this intentional?
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Sorry to hear that nick. Miss ya around here. Come back when you're ready. Always have a home here!
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This is me: ----------------- You are an Adventurous Trader! Generally you are a quiet and flexible observer until a problem appears and then you act quickly to find a solution. You are good at determining what makes things work and going through a large amount of information to find out what is important. This quality will help you immensely as a trader. You are not easily persuaded by anything that is not based on fact. However, if your orientation tends to be external, then you are probably a big risk taker... One of your Trading Strengths You're great at analyzing details to determine what makes things work. One of your Trading Challenges You might have problems with self analysis which is critical to eliminating mistakes in trading. ----------------- Apparently, Jimmy Rogers and Stu Ungar and I have the similar personality.
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Is Trading Just Another Road to Enlightenment, That is the Question?
torero replied to Szymon's topic in Trading Psychology
Trading is a life-changing experience, Simon. When you walk alone and to survive on your own, you see things much clearer. Habits, perspective, beliefs, everything you're taught is absolute B.S. It's just another step toward knowing yourself and your surroundings. Not everything is the absolute truth or absolute lies. We are all responsible for our own actions (good or bad). Accepting that is only the beginning of the knowing who you are and why you do the things you do (good or bad) and that's when the healing, understanding and changing begins. This is why I have this message in my signature. Welcome to the club, Simon! -
Good man! and good luck!
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Hi and welcome harlequin, Have fun! No pressure just participate when you're ready!
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slege, if you really talking about integrating entry order with charting, try Ninja. They have charting now and in the charts you can set to have entry order box and trade directly from the charts. I assume it works with forex if the broker is support by Ninja. In this business it's not only about knowing the market but knowing what's out there to offer you the best and fairest for your money. In the end it's your money that they're sucking... commissions, spreads, a little slippage here and there, it adds up at year end when you go over them. The biggest thing I learned is the keep the overhead low enough to cover them then the rest is income, easy enough. It's a business, gotta keep the overhead low. I was with Tradestation for 4 years before I changed to MBT and Ensign. Realized I don't need all their package plus due their partnership with Gain Capital for forex quotes and brokering trades, I had to move out and move on.
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Here's an excerpt from Wikipedia: >>>> Financial spread betting By far the largest part of the official market in the UK concerns financial instruments; the leading spread-betting companies make most of their revenues from financial markets, their sports operations much less significant. For example, in the figures for the second half of 2006, the income derived from financial spread betting at IG Group, the largest of the companies, was £29.3m, compared to £3.8m in sports.[citation needed] Financial spread betting in the United Kingdom closely resembles the futures and options markets, the major differences being * the 'charge' occurs through a wider bid-offer spread; * spread betting has a different tax regime compared with securities and futures exchanges * spread betting is more flexible since it is not limited to exchange hours or definitions, can create new instruments relatively easily (e.g. individual stock futures), and may have guaranteed stop losses (see below); and * the trading is off-exchange, with the contract existing directly between the market-making company and the client, rather than exchange-cleared, and is thus subject to a lower level of regulation. Although the spread betting companies themselves are some of the most regulated entities in the City of London. Unlike fixed-odds betting, the amount won or lost can be unlimited as there is no single stake to limit any loss. However, it is usually possible to negotiate limits with the bookmaker: * A "stop loss" will automatically close the bet if the spread moves against the gambler by a specified amount. * A "stop win" will close the bet when the spread moves in a gambler's favour by a specified amount. Spread betting has moved outside the ambit of sport and financial markets (that is, those dealing solely with shares and futures), to cover a wide range of markets, such as house prices.[6] In a falling stockmarket, financial spread betting can also be used by investors as a means of hedging against predicted losses in a portfolio of shares.[7] The major Spread betting companies are IG Index, CMC Markets, Capital Spreads and City Index. <<< rest of the content: http://en.wikipedia.org/wiki/Spread_betting I think the word betting might be misleading as it seems to be well regulated and that it has the similar characteristics as options and futures. I have little knowledge of this market so I can't comment. Regarding the percentage of losers for spread betting, it's the same in futures and options. Just different way of approaching the demise I guess.
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Market Calendar !!!FreeWare!!! for All.
torero replied to Szymon's topic in Trading Products and Services
You da man, Simon! I kept thinking this was created by some other freeware place, but you rock! I'm very impressed! Thanks for the contribution, definitely a plus in this forum! You must be a genius if you only devoted a few hours to this freeware! An alarm is a plus feature for me, especially for the Big Impact (red) news. -
HLM (our member) is currently using EFX (just bought out by MBTrading) which offer full charting services plus it's an ECN provider. I plan on migrating to them eventually if MBT don't plan on rolling out charting soon. This actually brings me to the next question: how does one get an idea when volume with a retailer becomes a problem and need to go to a higher tier fx broker? 10, 50 or 100 standard lots a trade?
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Very nice idea, Simon! Wish we can do the same in Spain. Unfortunately, there aren't that many around and have the kind of time to devote to traveling. Good luck!
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True that TS offers only 6 months of tick data but if you look at the forum, there are users that has at least 2 yrs of tick data saved and shows you how to incorporate that into the platform you have. Mostly they are eminis (including Dow). I did this before changing to something else. TS uses Gain feed for forex so it was one reason I decided to move out of TS (they are good at stocks and futures, but a lot more to be desired for forex, brokerage is dealing desk btw).
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True that TS offers only 6 months of tick data but if you look at the forum, there are users that has at least 2 yrs of tick data saved and shows you how to incorporate that into the platform you have. Mostly they are eminis (including Dow). I did this before changing to something else.