Live FX Trades

[cowpip 10]

Closed for +92.

[cowpip 10]

Hi there cowpip, everyone makes mistakes...

 

Question: How do you identify support?

 

Same way as wasp. Using candle bodies on the 4-hour and daily charts.

[pipMonster 10]

Closed Long GJ @ 189.81 for +104.

 

Will now wait for next candle at top of hour.

 

Edit: OMG! I scored more pips than cowpip! Woo-hoo!

[pipMonster 10]

Long GJ @ 190.76

[cowpip 10]

Alright! I think all these bank traders who have come back from holiday are about as floozy as they come! Prices are all over the board, whipping me silly!

 

Stopped for -49. Short @ 189.38

 

PS: I'll reply to your question about my view of this week soon.

[cowpip 10]

Closed my long for +141.

[pipMonster 10]

Out at -84. Hmmm...

 

Back to the drawing board.

[wasp 10]

I guess it's not clear enough. I went short at the close of the 240-min candle seeing that it closed below support(187.93).

 

I'm currently under water and very near a stop loss.

 

How did you guys interpret this new candle? what did I miss?

 

Out at -84. Hmmm...

 

Back to the drawing board.

 

I think part of what I do is just ingrained into my brain... I wouldn't enter a position thats moved 200 pips already, only trail by then.

 

Also, 84 pip stop??? Personally moved mine back to 50 and looking to drop it to 40 if it works out but 80 is a tad large for me.

[pipMonster 10]

The retrace over the last hour may have been a setup for the UK GDP estimate which now has come in at a dismal -0.02%. It pays to pay attention to the data releases.:doh:

[cowpip 10]

Is that what caused the jump??? I had no idea. Sorry bud. That's a stinker of a loss. But hey - look at my trading days and you won't feel quite so bad!

[cowpip 10]

The retrace over the last hour may have been a setup for the UK GDP estimate which now has come in at a dismal -0.02%. It pays to pay attention to the data releases.:doh:

 

Ummm... that can't be the entire reason. The biggest move was in the yen (which lost value). The pound gained - it should have lost value.

 

It's probably just positioning in a lower liquidity market (?).

[pipMonster 10]

It wasn't so much the cause in respect to data being released, but in respect for what traders were expecting to be released. You've seen it many times where an important data release is upcoming and traders drive it a good distance in the opposite direction. That is what I believe happened in this case. Live and learn.

 

It certainly was a stinker of a loss though I'm happy to take them while I'm learning.

[cowpip 10]

Got it. Yeah, I hear you. It could have been that. It doesn't really matter though. It changed the canvas a bit. We have a higher high now on the hourly.

[pipMonster 10]

Everything's better now. Took a short at the last hourly candle after the UK GDP news was released.

 

Closed for +98. That was a cheeky trade as Wasp would say. At least I'm back to last night's profit level.

[cowpip 10]

Everything's better now. Took a short at the last hourly candle after the UK GDP news was released.

 

Closed for +98. That was a cheeky trade as Wasp would say. At least I'm back to last night's profit level.

 

Woo hoo! Nice come-back! I'm still flat - waiting (and waiting... and waiting) for a signal to do something. So this is what eternity feels like?

[pipMonster 10]

Now that the canvas has changed, are you drawing a descending trend line from the hourly candle high at 190.42 through the close of the giant bullish candle(12:00-1:00pm Alpari time) that ate my previous short position?

[cowpip 10]

Short GJ @ 188.63

[pipMonster 10]

Right w/ you. I'm short from 188.70.

 

Hopefully this bugger will turn back down before too long.

[pipMonster 10]

Out at -65. Hmmm...what did I not see?

 

Edit:

 

Seems I had my stop in the exact spot the bigger players wanted to push price to. Amazing, simply amazing.

Edited September 10, 2008 by pipMonster

[pipMonster 10]

Short GJ @ 188.95 :missy:

[cowpip 10]

Out -60. Short again @ 188.93. Grr.... I'm sick of the spikes!!!

[cowpip 10]

And out again -60. Time to wait. This sucker is lying.

[pipMonster 10]

i'm right with you: -65 again.

 

Long GJ @ 189.61. Last chance. Otherwise I lay low for a while because something is very odd about this market.

 

Edit:

 

Everyone should put everything they have short on GJ since I've gone long. You'll most likely get at least 65 if not more pips.

[cowpip 10]

Long 189.12

[pipMonster 10]

I should have waited also Cowpip. I hope you were able to take profit up at 190.00