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Soultrader

Currency Futures Question

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Long term fibs are even more important than short term fibs for GBP/USD and the weekly pivot points are also important so you would take these things into account before placing your stop but a stop above 1.9550 would have been good.

 

Notouch, did you mean to post images/charts on your posts? Because I'm having a hard time following your explanations. I like to hear you expand on the 61.8 fib movement in Frankfurt. Thanks.

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Oh oops I accidently deleted them all. Let me fix that.

 

I can't edit the posts. It tells me 30 minutes have expired and I need to contact an administrator.

 

Is there any way to put those images back in their original posts?

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Safwan has his software connected to Bloomberg, yes. I don't want to invest the time in coding my own software when I can lease it from someone else that provides a high quality service, that's all.

 

I would be very interested to learn how I could use stop-limit orders to straddle news events - could you explain that. We could do it offline, or converse here, either way is fine with me. A few other people have suggested to me to straddle with stop limit orders, but I have heard some nasty horror stories of people getting whipsawed using straddle techniques. Please explain, thanks.

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Keymoo the problem is latency. If you're getting filled 2 seconds after a news release then the service is worthless. With stop-limits you would get filled within milliseconds. Judging from your post in another thread you've already got stop-limits sussed. I personally don't use them very often.

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Isn't the problem really one of liquidity? There has to be someone on the other side of my trade, right? Sometimes with the autoclick my fills are within 1-3 ticks of the opening price of the candle, sometimes it can be much larger depending on liquidity at the time. My fill times also vary between 1-3 seconds after the release depending on network, release time, the report, and other factors. I wouldn't say the service is worthless because I do get filled quite nicely most of the time.

 

If you personally don't use stop-limits very often, what do you use?

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Guest FLX

Tradestation does not have very good chart for the british pound so you have to use the GBPUSD. Sorry........................ FLX Unless you have ensignal for your data feed into tradestation, the currencies chart 100% better using ESIG.

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Tradestation does not have very good chart for the british pound so you have to use the GBPUSD. Sorry........................ FLX Unless you have ensignal for your data feed into tradestation, the currencies chart 100% better using ESIG.

 

Hi FLX,

 

Could you explain what you mean by Tradestation does not have very good charts? Do you mean the data is incorrect? Or are you referring to the charting package?

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Thank you for the reply notouch. I am looking to trade a pair during my Tokyo Hours. I prefer to focus on the eminis during the US hours. For currency futures traded on the CME, is the most liquidity found during US and London hours only? I prefer to trade something with minimal slippage.

 

Do you know the symbol for the British Pound futures? Thank you.

 

Due to your location and time constraints, I think you should look at the spot market and trade:

 

1. EUR/YEN

 

2. GBP/YEN

 

3. YEN/USD

 

4. AUD/YEN

 

Spot does not have some of the advantages of the currency futures, like volume information or market profile information. Of course, some brokers do offer tick volume, just not all. Same with market profile data. For you in particular, James, there is no time and sales. No level II either.

 

Actually, the best alternative may be Yen futures on the Tokyo exchange.

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James,

 

Given that all currency pair movements during asian hours derive mainly from the yen component then you might as well just do the one with the most liquidity ... yen/usd?

 

But if you normally trade eminis why not trade an index future during asian hours? HSI, KOSPI, NK (3 variations), STW and SPI would all be good depending on your need for depth and desire for trendiness.

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Tradestation does not have very good chart for the british pound so you have to use the GBPUSD. Sorry........................ FLX Unless you have ensignal for your data feed into tradestation, the currencies chart 100% better using ESIG.

 

I moved from eSignal to TradeStation and the charting on TradeStation is much better IMO. Could you explain a bit more why you think the currency futures in particular are better on eSignal? I personally did not find that the case.

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Guest FLX

Im going by what my friends have used and traded the last few months, There charts look 10 time better than mind on the euro and the british pound does not have enough volume but to each his own! The forex pairs work a lot better. In the future i will upgrade to a better data server. I like to see what im trading, to avoid draw down on my account. Right as i write this im up another 12 pips on a gbpjpy pair, i guess im doing something right.

The ching in your trade speaks for it self. LOL Mike

 

Go ahead and trade to each his own. You might have the holy grail approach.

 

It like fishing in a stream that is all dried up! That is no fun, boat get all scratch up from all the rock that are exposed and you come home with no fish.

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James,

 

Given that all currency pair movements during asian hours derive mainly from the yen component then you might as well just do the one with the most liquidity ... yen/usd?

 

But if you normally trade eminis why not trade an index future during asian hours? HSI, KOSPI, NK (3 variations), STW and SPI would all be good depending on your need for depth and desire for trendiness.

 

Kiwi,

 

I understand you currently trade international index futures? I am also very interested in these contracts. I was told by another trader that these markets lack market internal tools which I am very used to in my trading. Do these markets provide their own set of internal tools that I will be able to use? Do they offer a time of sales?

 

Can these contracts be traded from a US broker or would I need to open an account independantly in each country? Thanks

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Guest FLX

That is a broker question and should be answer by a certified broker like trade station. Email them and direct the question to an on line assistant. FLX

 

This gbpjpy is moving down quick WOW! 19 pips

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I would have thought the mini Nikkei 225 futures would be right up your street. The exchange is the Osaka Securities Exchange and a data subscription is only about $10. Hang Seng Index futures are free. You can trade them with an Interactive Brokers account. Time and sales is there but I'm not aware of any market internals.

 

Also you might like the DAX from EUREX which is the world's biggest exchange. It opens in the morning in Germany so good for an afternoon session in Japan.

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Kiwi,

 

I understand you currently trade international index futures? I am also very interested in these contracts. I was told by another trader that these markets lack market internal tools which I am very used to in my trading. Do these markets provide their own set of internal tools that I will be able to use? Do they offer a time of sales?

 

Can these contracts be traded from a US broker or would I need to open an account independantly in each country? Thanks

 

I have access to all of them with my Interactive Brokers account. HSI has no internals but I believe Nikkei has some ... I trade straight price patterns for HSI and with their trendiness would do the same with Nikkei and KOSPI. Both of the last two respond well to market profile and I understand from Midknight and Bolter that Nikkei is pretty good with Market Delta as well (but they don't use IB data for that as the snapshot isn't conducive to the MD analysis)

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