Long @ 1.7158 (+/- 10)
(If I understand buckets!)
(If I understand buckets!)
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- #4,364
- Oct 16, 2008 4:11am Oct 16, 2008 4:11am
- Joined Apr 2006 | Status: Trader | 1,459 Posts
BRV
I learned a lot from you. I am basically a currency options trader and buy/sell no-brains positions at the same time with small investment in the trade by entering at a time when the currency rates are extreme. Example, I bought EU put at 1.60 and sold EU call at 1.65 and put in a small investment from my side.
I was alwaysput off by so many indicators, systems and chart reading methods that I avoided spot fx until I read your methodology. You took me into the real world of forex trading.
I have seen not so literate forex dealers so well handling billions at the job for last 15-20 years experience and I kept wondering if they can do so smoothly, why can't I do. I attempted fx trading and then I realised they were putting others money on the line while I am putting my money on the line. Fear and Greed were the demons I could not measure up to and decided on another method.
Luckily the opportunity came around and I decided if I hit the option in a big way helf of it I will use for fx trading with care-free attitude so that I can do without fear and greed. The option hit in a quite huge way - much beyond my expectations - and luck opened the gates for me.
After reading your posts I used the money to do scalping by following tick chart only.
I draw channels, pips range, and use 5 m chart to do trading. I learn about pending options trades from IFR and see how I can place myself going with them. It has been fun following the options players fighting so fiercely.
I follow IFR strategy but in opposite directions. Since their strategy is public knowledge I know they will be on FX operators radar.
In thin markets those stop loss are invariably clicked in. So I wait for the operators to kill those stops and head backwards. I take a ride on their return journey. It is so precise that as if they had travelled all the way only to kill that position.
It doesn't happen all the time. mostly in thin trading only. I think if anyone just follows the strategy of IFR for education, the person will be an astute trader. I learnt a lot from their methods and trade planning.
I do it intutively without fear and greed with the comfort that I am putting the table money at stake.What a change I find now in myself with having fear and greed under control. It is so exhilarating.
That's why I am able to observe how fx operators set the tone of the markets. Now I know how they ensure the indicators trigger positions. So why rely on indicators when those can work in operators favour whenever they chose to do so - particularly in thin trading.
If scalping would not have worked for me I would have certainly tried to spot the kind of trades you do.Because such trades again can be found with not much effort.
I want to thank you for sharing with all of us here your knowledge of how the real world of forex operates .
May God bless you.
- #4,366
- Oct 16, 2008 4:13am Oct 16, 2008 4:13am
- Joined Apr 2006 | Status: Trader | 1,459 Posts
Long @ 1.7158 (+/- 10)
(If I understand buckets!)
Thx Grath - We need more trades!
Everyone please post away!
Hi
I asked the question about the bucket trading a few days ago (that was actually my very first post) and today after watching your video and doing some backtesting I have FINALLY GOT IT I am so pleased and know I am going to be obsessed at looking for them over the coming weeks...they seem great for a quick 50 pips and like you say happen all the time.
Great work!!
vikki