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Cool Runnings intraday swing trading

  • #1,401
  • Jun 11, 2009 12:34am Jun 11, 2009 12:34am
Quoting FX Dad
I'm also watchin PA on the USDJPY and the GBPUSD, as my indicator. USDJPY is moving down, and helping out the push down.
I cleared half my trade with 40 pips, and moving my stop to B/E on the rest.
  • #1,402
  • Jun 11, 2009 12:42am Jun 11, 2009 12:42am
Quoting FX Dad
I cleared half my trade with 40 pips, and moving my stop to B/E on the rest.
Moved my stop up to .61. Still early, so I want to let this play out a bit. The cable is not cooperating, and trying to break 1.64. It is not helping our cause.
  • #1,403
  • Jun 11, 2009 12:56am Jun 11, 2009 12:56am
Quoting FX Dad
Moved my stop up to .61. Still early, so I want to let this play out a bit. The cable is not cooperating, and trying to break 1.64. It is not helping our cause.
The ECB Monthly Bulletin comes out in about 5 minutes, and could effect the Sterling, depending on how good or bad the new is. At 09:30 London time, some minor consumer based reports come out on the Sterling, but shouldn't be that significant. I'm going to leave my stop at .61 for now.
  • #1,404
  • Jun 11, 2009 1:10am Jun 11, 2009 1:10am
Following you on this trade Dad though didn't get onboard until .28. Have also shorted Eur/USD this morning. All seem to be heading south except the CHF which goes opposite. Just a small point on your chart Dad I'm using the same Autopivots as you but my daily pivot is at 106.062 while yours is at 160.12 not sure why that would be or if it makes any difference.....different world time maybe.
  • #1,405
  • Jun 11, 2009 1:16am Jun 11, 2009 1:16am
hi tatton

how have u been,have missed u

hope everything is well

john
  • #1,406
  • Jun 11, 2009 1:19am Jun 11, 2009 1:19am
Quoting LinksMan
Following you on this trade Dad though didn't get onboard until .28. Have also shorted Eur/USD this morning. All seem to be heading south except the CHF which goes opposite. Just a small point on your chart Dad I'm using the same Autopivots as you but my daily pivot is at 106.062 while yours is at 160.12 not sure why that would be or if it makes any difference.....different world time maybe.
Could be the time. I am not quite sure how they are programed but your new day may have kicked in, and mine has not? Not sure.

Oh, it might be the price quotes from different feeds. Not all brokers move the same and quote the exact same prices.... that's probably it.

Good call on the EURUSD, it's not fighting the down move like your Sterling is!
  • #1,407
  • Jun 11, 2009 1:31am Jun 11, 2009 1:31am
Quoting FX Dad
Could be the time. I am not quite sure how they are programed but your new day may have kicked in, and mine has not? Not sure.

Oh, it might be the price quotes from different feeds. Not all brokers move the same and quote the exact same prices.... that's probably it.

Good call on the EURUSD, it's not fighting the down move like your Sterling is!
I'm out at B/E on my second half. I closed because the JPYUSD is moving up now too. Wow, it is moving fast. I hope you had a tight stop Linksman. Glad I closed instead of keeping my stop in place. I got 40 pips on the first half and 0 pips on the second half for a net of 20 pips on the trade. It was a weak move, but watching the PA and watching the related crosses, helped me with my exit decision.
  • #1,408
  • Jun 11, 2009 1:53am Jun 11, 2009 1:53am
Quoting FX Dad
I'm out at B/E on my second half. I closed because the JPYUSD is moving up now too. Wow, it is moving fast. I hope you had a tight stop Linksman. Glad I closed instead of keeping my stop in place. I got 40 pips on the first half and 0 pips on the second half for a net of 20 pips on the trade. It was a weak move, but watching the PA and watching the related crosses, helped me with my exit decision.
According to Bloomberg, the news on the GBP, is what moved the market, but if it is the case, the news must have leaked, because half the move happened before the news came out. EUR news at the top of the hour must have had an influence too. Hope you made it out with some profit on the EURUSD Brian(Linksman).

I'm calling it a morning. 1:52am my time, and I have my kids. Need my rest to keep up with them.

Take care.
  • #1,409
  • Jun 11, 2009 2:29am Jun 11, 2009 2:29am
Moved my stop on U/J to break even so didn't lose anything and made 32 on the E/U. I tend to move my stop to BE fairly quickly when it moves into profit so I don't lose anything. To my mind if it reverses and takes me out I haven't lost anything and could always re enter if it looks ok. It's like on the golf course I just hate dropping shots! Lol Have a good kip Chuck.
  • #1,410
  • Jun 11, 2009 2:36am Jun 11, 2009 2:36am
Quoting LinksMan
Moved my stop on U/J to break even so didn't lose anything and made 32 on the E/U. I tend to move my stop to BE fairly quickly when it moves into profit so I don't lose anything. To my mind if it reverses and takes me out I haven't lost anything and could always re enter if it looks ok. It's like on the golf course I just hate dropping shots! Lol Have a good kip Chuck.
Good Brian, It took me a long time to start doing that too... moving to B/E sooner that is. I would always go for the kill, and would give back so many pips. Now I'm fine with the 20 pips, rather than none, or even a loss like I used to do. The whole point is to walk away with a profit, so I'm happy to do so, no matter how little it is. There is always another trade. Take care!

Chuck
  • #1,411
  • Jun 11, 2009 5:03pm Jun 11, 2009 5:03pm
Hello everyone,

Posted another short video. (Just trying to get the hang of it)Consolidation forming on EURJPY going into Tokyo. Don't expect a strong move, Tokyo session is usually a little slow to develop.
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  • #1,412
  • Jun 11, 2009 5:07pm Jun 11, 2009 5:07pm
Links, you need to get to bed so you can wake up at least by 06:00!!!!! LOL!
  • #1,413
  • Jun 11, 2009 5:09pm Jun 11, 2009 5:09pm
I'm sure I will be asleep when it does! Just after 1am here so soon to bed for me!
  • #1,414
  • Jun 11, 2009 5:10pm Jun 11, 2009 5:10pm
Quoting FX Dad
Hello everyone,

Posted another short video. (Just trying to get the hang of it)Consolidation forming on EURJPY going into Tokyo. Don't expect a strong move, Tokyo session is usually a little slow to develop.
youtube is uploading a little slow today.... should be available soon. I need to work on the timing......
  • #1,415
  • Jun 11, 2009 5:11pm Jun 11, 2009 5:11pm
Lol will do my best but it may be 6.30! See you later! Happy Eastern trading!
  • #1,416
  • Jun 11, 2009 5:20pm Jun 11, 2009 5:20pm
Quoting FX Dad
Hello everyone,

Posted another short video. (Just trying to get the hang of it)Consolidation forming on EURJPY going into Tokyo. Don't expect a strong move, Tokyo session is usually a little slow to develop.
Here are some Resistance levels to be aware of on an upward move.
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  • #1,417
  • Jun 11, 2009 5:49pm Jun 11, 2009 5:49pm
If it pushes up to the top of th range again, I'd think about taking partial or closing out all together. Take the pips while you can. In the least, move your stop to B/E or just under .71. Watch the USDJPY and the Euro crosses to get a feel where PA will go.
  • #1,418
  • Jun 11, 2009 8:21pm Jun 11, 2009 8:21pm
You were wary of trading the gbp/jpy when it moved above 158.50. I note you are a short term trader (using H1 charts). I'm trading off daily charts and saw 158.00 as a good entry for a swing trade, good for at least 400 pips. My actual entry was 158.51 with a stop at 156.55

Currently this trade is +348 pips in 2 days. Closed ½ my position at 161.81 for +330 pips and moved my stop on the balance up to just below yesterdays low at 159.85

It pays to trade daily charts rather than hourly in my opinion.
In the days of old when sailors were bold, and seldom if ever contented.
  • #1,419
  • Jun 11, 2009 8:49pm Jun 11, 2009 8:49pm
Quoting pt49
You were wary of trading the gbp/jpy when it moved above 158.50. I note you are a short term trader (using H1 charts). I'm trading off daily charts and saw 158.00 as a good entry for a swing trade, good for at least 400 pips. My actual entry was 158.51 with a stop at 156.55

Currently this trade is +348 pips in 2 days. Closed ½ my position at 161.81 for +330 pips and moved my stop on the balance up to just below yesterdays low at 159.85

It pays to trade daily charts rather than hourly in my opinion.
PT,

That's great, nice trade!

Yep, I'm a short term trader, because that is what I see the best. I mostly learned from others on the 1H, so that is what works best for me now. I like getting in, and getting out. Just the style that works best for me.

Thanks for the post. You're welcome anytime! We're all here to learn more from eachother.
  • #1,420
  • Jun 11, 2009 9:16pm Jun 11, 2009 9:16pm
Quoting FX Dad
If it pushes up to the top of th range again, I'd think about taking partial or closing out all together. Take the pips while you can. In the least, move your stop to B/E or just under .71. Watch the USDJPY and the Euro crosses to get a feel where PA will go.
Hey Guys,

Well, it moved about 30 pips. I wasn't expecting a big move, that's why I was posting the follow-ups like I was.

Guys, I just want to clarify, I post these just for you to see the set ups. Like I've said before, I'm not trying to act like I know it all, or that I'm trying to mentor you into trading like me. ForexFactory is a for learning and sharing new ideas. I signed up as a memeber, when I started to follow Tatton's trades, hoping to learn his style. In his absence, I kept coming back to this thread to see if anyone was around, and I just started posting things myself.

So I just wanted to say thanks.... I've been having fun.
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