Live FX Trades

[cowpip 10]

A shame we can't have this volatility but nicely stretched over a few more hours. You, know, buy Monday for 500 and sell down Tuesday for 500 more... back and forth all week! Net us all a couplf thousand pips!

 

Oh, with 10-15 pip stops needed max!

 

LOL... the perfect world!

[wasp 10]

This is turning out to be the worst week in a looooooooooooooonng time.

[pipMonster 10]

So far I've been hit tonight for -92 on 2 losses and 1 win. :missy: :crap:

 

This is a very difficult environment to trade tonight.

[wasp 10]

I'm not even trading atm... just watching... this is crap PA and no good for my style

[cowpip 10]

I'm not even trading atm... just watching... this is crap PA and no good for my style

 

I too am getting soundly toasted in this environment. Wasp, I've been watching very closely the 5-min candles in accordance with your TL strat, and I think it's becoming more successful in these big wide moves than the 1-hour time-frame. Yes, I know - it's too short-term. But take a look at it. It's been remarkably good over the last 24 to 48 hours.

 

It feels like the market has "sped up" in time. Moves we normally wouldn't see (per candle) on the hourly we're now seeing on the 5 to 15-min chart. It may make some sense that the strat's validity has increased on the smaller time-frames.

 

Still... this is ugly and really is worth staying out of.

[wasp 10]

good thinking! Could have made a weeks pips in the last 24hrs!

[Bobby S 10]

Hi,

I still think the safest risk is to continue to sell rallies on a failure of Daily closes to arrest this strong bearish momentum & the inability of price to develop higher swing highs & higher swing lows on at least the four hourly & daily tech charts.

My reasons being, that last month’s pullback from the break of that 193.0 support very quickly ran out of steam as referenced by the series of indecision candles at 196.0

 

 

Since then there hasn’t been one single Daily bar that has even come close to arresting the heavy short bias on Pound-Yen.

 

 

I don’t get the opportunity to actively trade during the day as I still attend school & then have boring homework when I get home, so I got no choice but to lean toward a Daily view while I’m in classes.

I guess stepping away from the intra-session madness & perhaps reducing position size, whilst allowing a little more room for movement, is the way to go until the conditions suit a shorter timeframe view?

Just a view from someone who isn’t allowed to trade anything other than longer term anyway

 

I hope I’m not intruding on your thread.

[wasp 10]

Not at all and welcome.

 

Any market, any timeframe, any view. More the merrier. Interesting viewpoint and I will reply in depth when I have more time but wanted to say Hi for now and good to have someone else on board.

[cowpip 10]

Hi,

I still think the safest risk is to continue to sell rallies on a failure of Daily closes to arrest this strong bearish momentum & the inability of price to develop higher swing highs & higher swing lows on at least the four hourly & daily tech charts.

 

Welcome! Some new blood! Slurp.... (kidding ). It's good to have a new opinion here.

 

For the most part, I would agree with your assessment. Everyone has a different risk tolerance. I haven't been able to sit through an entire day without mucking with something, so I'm imprisoned to the intraday crowd.

 

My risk tolerance requires smaller stops than what would be required on the daily frames, but there are definite advantages to the daily frames. No question there.

 

Interesting analysis.

[Bobby S 10]

My risk tolerance requires smaller stops than what would be required on the daily frames, but there are definite advantages to the daily frames. No question there.

 

Oh sure, I can appreciate that. Although I don’t guess you’re forced to engage & deal your risk via the Daily measure if your tolerance doesn’t suit, merely use the dominant price signals of the bigger & more dominant timeframes & shoot off a chart reference of your choosing in line with the superior price flows?

 

Kind of like blending the timeframes in order of sequence.

As long as the ebb & flow remains orderly on the hourlies, you don’t get whipped & jerked around so much.

Price would have to negate & close back above the lower high sequence in order to take you out of a core (short) position.

 

I guess that’s the trade off from having to endure the intense heat of the micro activity.

 

Thanks for the welcome all.

[firewalker 10]

I hope I’m not intruding on your thread.

 

Nice to see some new people! Hope you beat the crap out of wasp's strategy

good luck!

[wasp 10]

Nice to see some new people! Hope you beat the crap out of wasp's strategy

good luck!

 

Not bleedin' hard this week!

[cowpip 10]

It's still working, guys... Very nice... very clean signals...

 

EDIT: Now, if they could just reign in the bloody 15 pip spread, that would be sweet. Bloody robbers.

[pipMonster 10]

Yippers...Nice trade there Cowpip!

 

I got a good one earlier taking a short position from 173.85 and scaling out 2/3 at +87 before price retraced all the way and took out my remainder at my entry. Oh well. At least something for my troubles.

[wasp 10]

Cor blimey guv'nor! A trade actually going to plan!

[wasp 10]

Cor blimey guv'nor! A trade actually going to plan!

[cowpip 10]

Wow... what a day! When I have my head screwed on right, this 5-min strat is very VERY slick with this volatility! It's a pain you have to constantly be monitoring it, but it's sure raking in some nice pippage!

[wasp 10]

Nice one mate! I just managed to exit that 1/3 of the way through with some stupid 5min S/R exit theory and watched the last 200 move without me! :doh:

[cowpip 10]

Here's the same chart, annotated (forgot to do that).

[cowpip 10]

Sorry to hear that Wasp.

 

You wouldn't have been proud of my performance overnight. I can't do that anymore. I totally crapped all over my wallet with that stunt. Wasn't thinking clearly and was just shootin into the breeze. Anyway, I'm recovering now.

Edited October 9, 2008 by cowpip

[wasp 10]

Just having one of those weeks where I'd have been better of doing the opposite of every time I clicked the mouse button.

 

If it wasn't for the scotch the computer would be on the lawn by now!

[cowpip 10]

Dude, I can empathize completely. We all have those kinds of days and weeks. They suck big-time. But hey - you can look on the bright-side and be thankful you don't (I hope) own stocks of GM, which dropped 30% today alone. I heard that if you inherited shares of GM from your father (which he bought in the 50's), right now they would be worth the same as when your father bought them. Yikes!

[wasp 10]

Dude, I can empathize completely. We all have those kinds of days and weeks. They suck big-time. But hey - you can look on the bright-side and be thankful you don't (I hope) own stocks of GM, which dropped 30% today alone. I heard that if you inherited shares of GM from your father (which he bought in the 50's), right now they would be worth the same as when your father bought them. Yikes!

 

Ouch......!

[wasp 10]

On the flipside though we should rejoice. For a change its all those companies and banks that have screwed us all over the years getting what's coming too them.

 

Shame so many regular people have been affected too but to see my old bank (all their own faults) go under makes me laugh, and laugh, and laugh!

[wasp 10]

.........and laugh, and laugh!