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Medium Term Trades

  • #1
  • First Post: May 14, 2009 11:03am May 14, 2009 11:03am
We will be posting live trade calls in this thread.

As we are generally medium term traders, don't expect trades every day. We usually get 1-3 trades per month on the 12 fx pairs we trade.

Most important of all, lets have fun, no troll behaviour and obey the FF rules.
  • #2
  • May 14, 2009 11:05am May 14, 2009 11:05am
We are long USDCAD from 1.1762.

Stop loss always 300 pips, give the trade some space to breathe. We dont set profit targets, we exit when we get a reverse signal.

Excel FX
  • #3
  • Edited 3:27pm May 14, 2009 3:26pm | Edited 3:27pm
Current trades we have open:

Long GBPUSD from 1.4779 (looking to close as possible short trade coming)

Long EURUSD from 1.3183 (same as above)

Short USDJPY from 98.40 (Hold but moving to flat)

Short GBPJPY from 147.77 (Hold)

Short USDCHF from 1.1512 (looking to close, possible long setting up)

Long USDCAD from 1.1762 (Hold)

We think new positions could well occur in the next 4-12 hours, so we would close and reverse if our conditions are met.

Excel FX
  • #4
  • May 15, 2009 2:42am May 15, 2009 2:42am
Morning All,

We are still holding every position we have, even the long cable and ED positions.

We have 2 of our 3 conditions met for a reversal, but must still wait to see.

Very wary about UJ, BOJ rhetoric is ramping up for at least a semi-soveriegn entry into the market, if verbal intervention doesnt work.

Would consider closing the UJ short, 357 pips in profit at the moment, but could ultimately see it going to 89, BOJ permitting.

All other positions we are holding. Sometimes a position may be 600 pips in profit, but may come back 200 pips before we get a reversal signal, but it is vital to let our positions play out so we maximise our profits.

Best of luck.

Excel FX
  • #5
  • May 15, 2009 2:55am May 15, 2009 2:55am
Quoting Excel FX
Morning All,

We are still holding every position we have, even the long cable and ED positions.

We have 2 of our 3 conditions met for a reversal, but must still wait to see.

Very wary about UJ, BOJ rhetoric is ramping up for at least a semi-soveriegn entry into the market, if verbal intervention doesnt work.

Would consider closing the UJ short, 357 pips in profit at the moment, but could ultimately see it going to 89, BOJ permitting.

All other positions we are holding. Sometimes a position may be 600 pips in profit, but may come back...
Many thanks, i look forward to following this thread - could you elaborate on the reversal signals for cable please - you intimated that 2 of 3 have been met - what are they please??
  • #6
  • May 15, 2009 3:02am May 15, 2009 3:02am
Quoting dimlat
Many thanks, i look forward to following this thread - could you elaborate on the reversal signals for cable please - you intimated that 2 of 3 have been met - what are they please??
Hi Dimlat,

Hope you enjoy it and find it useful.

We use our own prop system so cant say exactly how we do it, but we measure buying/selling pressure using our own formula, and we also measure trend strength using our own formula, and the trend strength is now tunring neutral, whereas buying/selling pressure is negative (sell).

So once trend strength turns negative, we would open a sell position in GU & EU.

We are basically trend followers.

Hope that helps.

Excel FX
  • #7
  • May 15, 2009 3:47am May 15, 2009 3:47am
Quoting Excel FX
Hi Dimlat,

Hope you enjoy it and find it useful.

We use our own prop system so cant say exactly how we do it, but we measure buying/selling pressure using our own formula, and we also measure trend strength using our own formula, and the trend strength is now tunring neutral, whereas buying/selling pressure is negative (sell).

So once trend strength turns negative, we would open a sell position in GU & EU.

We are basically trend followers.

Hope that helps.

Excel FX
Excellent - many thanks - look forward to updates
  • #8
  • May 15, 2009 5:19am May 15, 2009 5:19am
Hi All,

We are still holding all of our positions. The EU & GU are still not 100% sells, so we hold our positions until we get 100% reversal signal.

It always pays to be patient!

Excel FX
  • #9
  • May 15, 2009 5:25am May 15, 2009 5:25am
We are watching for a short position on AUDUSD.

Unless there is a huge rally, we will be entering short on the close of this 4 hour bar, so at 14:00GMT.

Will update with actual fill price when we have opened the position.

Stop Loss would be 300 pips.

No take profit.

See next post about Stop Loss Policy.

Excel FX
  • #10
  • May 15, 2009 5:28am May 15, 2009 5:28am
Our Stop Loss policy is we set a Stop of 300 pips on every position, and work our position size from our risk%.

The reason we use a 300 pip SL is that we want the position to have some space, as quite often our entries are after a move in one direction or the other, so we dont want to be stopped on the pullback unneccessarily.

If we get a reversal signal, we would close the position immediately.

It is very rare for a full stop to be hit, usually between 40-150 pips loss if we get a reversal.

Excel FX
  • #11
  • May 15, 2009 8:14am May 15, 2009 8:14am
We opened a short and were filled at 0.7553.

Stop Loss 300 pips, no TP.

Excel FX
  • #12
  • May 18, 2009 5:36am May 18, 2009 5:36am
Hi All,

We are still long USDCAD and short AUDUSD.

The AUDUSD dropped nicely, but has bounced back a bit. The USDCAD is directionless at present, but we are negative only 70 pips (-30 on AUDUSD).

Usually, we get reversal signals well before the stop is hit, so we can lose very small amounts but get huge gains when we catch the trend (which we always do).

Good luck.

Excel FX
  • #13
  • Last Post: Jun 2, 2009 1:30am Jun 2, 2009 1:30am
hi

are you still in your trades? have there been any updates - rather quiet on this thread - i would appreciate knowing where you are up to?

thanks in anticipation

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