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ForexTraderX

Market Wizard
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Everything posted by ForexTraderX

  1. ForexTraderX
    So far, up $345 for the day, minus about $20 in comissions, give or take. every trade profitable, forex and futures, except the 1 tick loss on the mini crude short, and the BE trade on the 6A futures (aud/usd futures) Not a bad day so far... maybe a little stat arb, and a possible directional (short) opportunity will show up in crude, or better still, the equity futures markets.
  2. ForexTraderX
    Just closed the QM short out for a tick loss... checked my notes, and realized that we have some big news coming out here in about an hour... I do NOT want to be holding this trade through the news, since I didn't get in at an ideal entry. So, closed up and completely flat now...however, will look to get short the ES around 1400, and crude anything above 94.00, if we can get back to either.
  3. ForexTraderX
    As of this moment...i'm only short in mini crude futures.... will be moveing stops to break even at around 12-16 ticks, and then probably just letting it go until at least 93.10, or till it stops out.
  4. ForexTraderX
    if anyone is interested, hit me up on skype... screen name: forextraderx i've got a little chat room with a couple folks who may show up. figure it's a nice way to talk shop while the markets are moving.
  5. ForexTraderX
    Up $120 on the CL (big crude contract). Oh...and just targeted on the short ES trade... up $212.50 on that one. Closed 6A out at BE... don't like my entry price, would rather have a higher short, if at all. still holding the QM short (mini crude) from 93.625
  6. ForexTraderX
    can't lose on the CL contract now... target still 93.56
  7. ForexTraderX
    stop around 1.0565... target 1.0500
  8. ForexTraderX
    just got short CL... stop at 93.75... target 93.56. short at 93.68
  9. ForexTraderX
    Also...just closed out my cad/jpy long trades at 78.79. made about 26 pips on that last half of the position, or a little over a quarter percent.
  10. ForexTraderX
    well, just got short a mini crude contract... at 93.625. Stopping out around 94.25, targeting 92.75
  11. ForexTraderX
    Well, I just locked in 1 point on the ES on my short trade... target is 1396.00, stop now at 1399.25. Be nice to pick up a couple hundred here, but i'll settle for $50 is that's the way it ends up.
  12. ForexTraderX
    Well, that was fast. could hardly post this up before it drops 2 points. anyway, stops now at 1400.00, so +1 tick. target still 1396. If we can get to 1397, i'll lock in 1 point. risk free trade at any rate
  13. ForexTraderX
    as I look at the charts a bit more... I'm seeing some potential short targets in the S&P futures (sept contract...the nearest one). I'm actually short right here, at 1400.25... and targeting 1396.00, stop at 1404.25. we could get as low as 1393, 1387, or 1385 today...maybe lower, but those are the numbers i'm looking at. So far, up 6 ticks. lets see what happens
  14. ForexTraderX
    Well... not sure yet how todays news reports will develop of course, and there are a few things coming out that could influence the US equity markets today... but all things considered, the "Easy Money" for this week to the long side is likely priced in already. we've moved up now for 4 consecutive days...today will be the 5th day, and it looks like the NQ and ES futures are coming into some significant resistance...with the NQ futures really looking like they are slowing down. Wouldn't be surprised at all to see us test a lower low than we made yesterday in the NQ, if not all equity markets. Anyway, time will tell, but I made a post over the weekened saying long on the US Equity makets would be the easiest play of the week... and now, i'm saying the easy part is done. For myself, i'm flat and looking for some potential pairs trades when the market opens today...but nothing really directional, unless it's to the downside and disappointing news results support it.
  15. ForexTraderX
    the last half of the EUR/USD long trade stopped out at BE. now just holding the CAD/JPY. I thought it was looking great to move up... but now, I couldn't say either way. No matter... took half off for a profit, and what remains in play will either target, or stop at BE.
  16. ForexTraderX
    Yeeep... so far, so good. Looks like this one will hit the next target. When news comes out, and you get a strong reversal candle on it... it's usually a really good sign that things are going to move in the direction of the reversal. And we have a nice 1hr pinbar about 3 hours ago that closed just around 78.87ish. Combine that with the slightly bullish daily candle from the day before, as well as higher highs and higher lows on an intraday chart, as well as impulse moves up, and slower retracement moves down, and multiple tests of this 79.00 level... well, that's about everything one can ask for when looking to get long. Still doesn't mean it's a guarantee of course! Just means the odds are heavily in ones favor by most measures, and I sure as heck wouldn't want to be holding short right now
  17. ForexTraderX
    Well, since the BOE Governer has now publicly stated that cuttring rates may be counter productive, and also that weaker economic news in general out the the EZ is hurting things, plus bond yields in the problematic nations have not yet broken an uptrend, dispite the strong rhetoric last week from Draghi. seems everything bad will hurt the EZ more than the other surrounding nations, but the non-EZ CB's are getting more hawkish. At least the UK is... so for today with this being the driving sentiment issues, I'll be happy to keep that short order on the EUR/GBP. As far as the CAD/JPY trade... the BOJ just announced it wouldn't increase stimulus for now, and the C/J had a kneejerk reaction down about 15-20 pips, only to pick right back up in a matter of minutes, and is now trading above the pre-announcement levels. If a more hawkish CB in japan can't hurt my long C/J trade...well, then I'm happy to hold it for the targets that are set. THere is some big news coming out for CAD and USD particularly the trade balance for both, and unemployment claims. Seems CAD is expecting a slightly larger negative trade balance. If it comes in smaller than expected, this is good as it'll show the U.S. "recovery "is moving along (since 65% of exports go to the U.S.). possibly the most telling report of the U.S. economic trade health besides the u.s. trade report itself (also coming out... but positive CAD will likely bode well for USD.) At any rate, seems i'm on the correct side of sentiment for now..,. and unless the numbers are suprisingly negative, my current trade should work out, and if the EUR/GBP trigger, well, the more the merrier.
  18. ForexTraderX
    Well, that should be it for the long CAD/JPY trade...based on the recent price action over the last couple hours, I'd expect it to break out now... but we'll see. Be nice to get a nice profit.
  19. ForexTraderX
    Well, today, i'm looking to get short the EUR/GBP around the 0.7918-0.7935 price... with a stop around 0.7955, and a target around 0.7880. However, this trade will be light on risk, and i'll probably look to move stops to break even around 20 pips. I like the price action from yesterday, however, we have broken a downward trendline, and I see more upward potential before resuming a downward grind. Will go over news and market happenings to determine if i should cancel this order...but for today, this is the one new trade I see. If i see no headlines or news events that warrent cancelling the order, I'll leave it there, and if it's stopped out, I may look at 1 hr candles to possibly get back in on a bearish 1hr candle. Otherwise... that order will sit there around 0.7920 and possibly trigger, and maybe even target.
  20. ForexTraderX
    you can always arb futures and their underlying...and it doesn't have to be sub second stuff. For example, you can right now, today, go long the September expiration 6A contract at the price of 1.0534 (right now)... it's $100K value. you can also go short the equivelent of the AUD/USD spot market...which right now is priced at 1.05674. That's about 33 pips (or ticks) of value that you'd get a guaranteed profit on in about... oh, 6 weeks. so... about $330 in 6 weeks per contract. Of course, you have to be able to weather the volatility if the spread between the two increases while you hold it...but, this is a relatively low risk profit potential, and it's also a guaranteed profit if you can hold for the time. Just some thoughts.
  21. ForexTraderX
    Well... ok, I agree to a degree that it's primarily an argument of semantics.... (lots of those in trading it seems).... however, risk parameters and drawdown statistics cover that as well, and do a better job of it than leverage, IMO. Yes, pro traders do consider leverage in a certain point of view, but on any given trade, it's really risk:reward... and since very few professional traders I know of risk more than 5% of their own equity per trade (heck, most don't even risk 2% per trade), the issue of leverage just doesn't come up, because they are never really "leveraged" more than about 10:1 or 20:1, at MOST. and when it comes to institutional trading, leverage is almost a non-issue, because liquidity becomes the overriding factor... because no on will "leverage" up to the point where liquidity becomes a problem for them... and since they are trading 7, 8, or even 9 figure sums... liquidity becomes an issue long before leverage does.
  22. ForexTraderX
    btw... if i was looking to get in again on the CAD/JPY...i'd put an order long somewhere between 78.70 and 78.60, with a stop around 78.45, and I'd make it risk free around 78.90. Just my thoughts, not something I will do, since I'm already in the trade long and don't wish to get longer at the moment.
  23. ForexTraderX
    Right now, I have only half of the eur/usd long trade on, with stops at BE (1.2340), and half the CAD/JPY long trade on, with stops at BE (78.53) I have one order to go long at 78.20, with a 38 pip stop, and a 40 pip 1st target, 105 pip 2nd target. Everything else is cancelled. I will do a full analysis again today between now and the europe session... probably get most of it done before toyko opens.
  24. ForexTraderX
    Well, this usually doesn't work out that a mistake is a good thing, but as I was looking back, I realized I meant to cancel all my open orders, including that EUR/USD that triggered. Well, I forgot to cancel it, and it ended up working out in my favor (so far anyway), but this should have been cancelled. Oh well, I'll take the free ride at a chance to make profits. But, typically, this would have been a cancelled trade. Due to this fact, i've now moved stops up to BE on it, at 1.2340
  25. ForexTraderX
    .Eh... oanda does just kind of suck for entering orders. it's still significantly better than MT4 IMO, but, ya... it's no tradestation or ninjatrader or currnex platform (thoug i've never personally traded on a currenx platform, from what i've seen it's nice) Since I don't move my orders around much in spot, I don't mind it. But if your looking to do some quick scalping and such... well, I don't think retail forex is good for that at any rate. probably better off trading futures or an ETF or something like that.
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