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Silent Service Method

  • #2,181
  • Jun 22, 2009 7:14pm Jun 22, 2009 7:14pm
Clock,
I'm reading your thread from the begining and noticed you taking shorts on ANZ bank in the aussie market, I'm about to open account with IB, so I can trade stocks, buying or shorting, is there anything special I need to do to beable to short aussie stocks, I just noticed on the IB website under trading/shortabe stocks, it says none for australia, but I know we can short as you have done it, so yea, is there anything special I need to do when setting up the account?

Thanks for providing this awesome thread.

Smith
  • #2,182
  • Jun 22, 2009 7:27pm Jun 22, 2009 7:27pm
Quoting johnedoe
For what it is worth.....
Follow the price down with a trailing buy, once triggered trail a hard stop at 1.00 ...
Todays high was 18.80 so put a buy stop at that price, if it is not hit tomorrow and price continues to drop modify your buy stop to tomorrows high.
Do this until you are filled, then trail your stop at the low of each previous day.

It looks like it is about to hit a support soon....http://img31.imageshack.us/img31/169...capturemwy.png
Thanks for the advice johnedoe. I appreciate it!
  • #2,183
  • Jun 22, 2009 7:38pm Jun 22, 2009 7:38pm
Quoting clockwork71
No, not at all to be honest.
Thanks for the feedback Clock! We had a nice 4 hour pin on the eur/gbp today at a swing low and 61% retrace level.

Also good call on the usdjpy 2 day pin last week. It was setting up for a possible long off a break of the 2 day pin, but you highlighted the triangle we were trading in on the daily chart, which has since broken to the downside.
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  • #2,184
  • Jun 23, 2009 3:21am Jun 23, 2009 3:21am
This is it now the cad/jpy is reversing to its uptrend, look at the 4h chart the pin bar there at 82.07, if this breaks the trendline at 83.28, we will see 89.00, but there will be a resistance at the 86.05 area. if break she will hit 90.00
  • #2,185
  • Jun 23, 2009 3:39am Jun 23, 2009 3:39am
Quoting Marco
Hmm I don't trust those companies, I mean why would they want to offer me a guaranteed stop?
It's just a way of taking out insurance against the possibility of a massive overnight gap. They charge you a premium for shouldering the risk. As with all insurance, the premiums from those who don't 'claim' pay for those who do; and the level of the premium is set to ensure a handy profit for the 'insurer', whatever happens.
All flesh is as grass
  • #2,186
  • Jun 23, 2009 3:42am Jun 23, 2009 3:42am
so many jpy cross pairs setting up pinbars...here is the ej..
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-06-23_1338.png Size: 64 KB
  • #2,187
  • Jun 23, 2009 3:45am Jun 23, 2009 3:45am
here is a better view of the ej setup...i'll be thinking to get in this trade if it keeps its shape till end of day
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-06-23_1344.png Size: 47 KB
  • #2,188
  • Jun 23, 2009 3:53am Jun 23, 2009 3:53am
Quoting nomask
here is a better view of the ej setup...i'll be thinking to get in this trade if it keeps its shape till end of day
seems i missed that on the 4hr, i caught the audjpy tho, only cos i fundamentally view the aud as strongest one out of eur,gbp and aud
Grabbing the bull by the horns!
  • #2,189
  • Jun 23, 2009 3:57am Jun 23, 2009 3:57am
Quoting whitegoodman
seems i missed that on the 4hr, i caught the audjpy tho
didn't take 4hr pinbar on purpose...i'll wait daily candle close
  • #2,190
  • Jun 23, 2009 3:59am Jun 23, 2009 3:59am
Hi Low...u mentioned that you managed to get an MT4 Broker who offers FX Pairs, Stocks etc..kindly let me know who the MT4 Broker is. I have been searching but i only managed to to find ActivTrades - MT4 Broker.....Thanks.

Also, where can get some concentrated Pirate Juice?
  • #2,191
  • Jun 23, 2009 4:07am Jun 23, 2009 4:07am
Quoting dod
It's just a way of taking out insurance against the possibility of a massive overnight gap. They charge you a premium for shouldering the risk. As with all insurance, the premiums from those who don't 'claim' pay for those who do; and the level of the premium is set to ensure a handy profit for the 'insurer', whatever happens.
Hmm yes I've seen it. But even without the 0.3% they want for the "insurance", their commissions are incredibly high compared to trading stocks with a discount-broker. And I didn't even look at what they charge for overnight-positions... At the end I really have to wonder why anyone would want to trade CFDs on stocks instead of stocks. Maybe I'm missing something...
  • #2,192
  • Jun 23, 2009 4:46am Jun 23, 2009 4:46am
Quoting Mr Smith
Clock,
I'm reading your thread from the begining and noticed you taking shorts on ANZ bank in the aussie market, I'm about to open account with IB, so I can trade stocks, buying or shorting, is there anything special I need to do to beable to short aussie stocks, I just noticed on the IB website under trading/shortabe stocks, it says none for australia, but I know we can short as you have done it, so yea, is there anything special I need to do when setting up the account?

Thanks for providing this awesome thread.

Smith
Don't quote me, but I believe that has to do with where you are from?
  • #2,193
  • Jun 23, 2009 4:53am Jun 23, 2009 4:53am
Quoting Danku
Hi Low...u mentioned that you managed to get an MT4 Broker who offers FX Pairs, Stocks etc..kindly let me know who the MT4 Broker is. I have been searching but i only managed to to find ActivTrades - MT4 Broker.....Thanks.

Also, where can get some concentrated Pirate Juice?
Hey try fxpro, they offer all with fx, they have MT4,
www.fxpro.com
  • #2,194
  • Jun 23, 2009 5:12am Jun 23, 2009 5:12am
There will be News at 1:30 CET The canadian governor will make a comment.lets Wait, after the news, there fasten your seat belt to the sky, iThe bulls have taken over
  • #2,195
  • Jun 23, 2009 5:39am Jun 23, 2009 5:39am
Quoting whitegoodman
seems i missed that on the 4hr, i caught the audjpy tho, only cos i fundamentally view the aud as strongest one out of eur,gbp and aud
Bear in mind that gold is dropping pretty fast though. I've been long gbpaud for quite a while.
  • #2,196
  • Jun 23, 2009 5:45am Jun 23, 2009 5:45am
Quoting hel13rock
Bear in mind that gold is dropping pretty fast though. I've been long gbpaud for quite a while.
this may be true i just have more faith in my own economy then a bunch of poms lol
Grabbing the bull by the horns!
  • #2,197
  • Jun 23, 2009 5:53am Jun 23, 2009 5:53am
Quoting whitegoodman
this may be true i just have more faith in my own economy then a bunch of poms lol
LOL. As long as you're using rational judgement

I posted quite a while ago that the gbp was at a very low level against the aud and that I was going long. I've got 2 x 0.01 positions at around the 2.0000 level and I'm holding on for 2.25000 on both.

The only problem with that is the carry. I'm -$15 already. I might just liquidate these positions on the next move up and settle for the $150 or so it'll give me.

My thoughts behind this are that gold has been at very high levels and most analysts believe it is due for a correction and the gbp is lower against most other currencies than I feel it should be. We'll see anyway, it's going ok so far so I'm keeping it and that's that
  • #2,198
  • Jun 23, 2009 5:59am Jun 23, 2009 5:59am
Going long.
Dammit. My SL was taken out by 5 pips, then it shot up.
Im kind of happy about that. just need to hold my guns a while...
  • #2,199
  • Jun 23, 2009 6:12am Jun 23, 2009 6:12am
Quoting jicjoc
Going long.
Dammit. My SL was taken out by 5 pips, then it shot up.
Im kind of happy about that. just need to hold my guns a while...
Looks a little shaky to me, it's in the middle between s/r lines. I've learnt my lesson with that these days.

It's got plenty of potential to go up but not much to stop it going down either. Hope it works out for you.
  • #2,200
  • Jun 23, 2009 6:40am Jun 23, 2009 6:40am
Quoting Marco
Hmm yes I've seen it. But even without the 0.3% they want for the "insurance", their commissions are incredibly high compared to trading stocks with a discount-broker. And I didn't even look at what they charge for overnight-positions... At the end I really have to wonder why anyone would want to trade CFDs on stocks instead of stocks. Maybe I'm missing something...
There's no commission on their spreadbet platform. I don't know if the spreads are the same as CFD's, though. I'm not a big fan of IG; but they do provide a service, and the higher your time frame, the less the size of the spread matters, though, obviously, the guaranteed stop percentage remains the same. I've also used CMC, who have guaranteed stops, too, and relatively tight spreads; but the platform isn't as user friendly.

Another option is 'options'. I don't know if there's a broker who would let you place an order for an option position based on a certain price being reached in the underlying stock; but if there is, that might be worth considering.

Especially with higher priced US stocks, a substantial overnight gap against your position could be catastropic. On the other hand, if it went your way, it could be a windfall gift.
All flesh is as grass
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