Cool Runnings intraday swing trading | Page 83 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

5/6 candle swing low swing high Indicator 5 replies

Swing high / Swing low indictator+alert? 20 replies

Trading Swing by Swing 39 replies

Swing highs and swing lows 3 replies

swing high/swing low indicator and volume tic history 13 replies

Attachments: Cool Runnings intraday swing trading
Exit Attachments

Cool Runnings intraday swing trading

  • #1,641
  • Jul 2, 2009 7:59am Jul 2, 2009 7:59am
Quoting forexchequer
Dazed and confused
I hope it's not because of what I said!
  • #1,642
  • Jul 2, 2009 8:05am Jul 2, 2009 8:05am
Quoting FX Dad
The Non Farm report was 100K more jobs lost for the US, and yet the spike goes in favor of the USD? The power of Risk aversion outweighed more bad news for the dollar. This is why I don't trade news anymore!
This might have been confusing.... I didn't clarify that it was 100k more jobs lost, than forecasted. The expected number was -360k jobs, and it came out at -467k jobs, so 107k more jobs lost than expected.

Now the price has retraced, and is starting to go against the dollar. Crazy day!
  • #1,643
  • Jul 2, 2009 9:31am Jul 2, 2009 9:31am
Quoting FX Dad
This might have been confusing.... I didn't clarify that it was 100k more jobs lost, than forecasted. The expected number was -360k jobs, and it came out at -467k jobs, so 107k more jobs lost than expected.

Now the price has retraced, and is starting to go against the dollar. Crazy day!
I have had my fair share of beat down from news candles. Since last year September the market's reaction to news have been very contrary. So I tend to stay out.
  • #1,644
  • Jul 2, 2009 4:33pm Jul 2, 2009 4:33pm
Quoting FX Dad
I hope it's not because of what I said!
Nooooo no............ I lost all my gains for the week because of those figures. It was just a shock to me thats all.
Deposit still intack though. Monday is another day. FX thanks for the heads up about the Non Farm Employment. If you hadn't mentioned it was coming out the damage would have been worst. Cheers. I now have a post-it on my laptop to remind me to check the calendar everyday.

Enjoy Independence Day.
  • #1,645
  • Edited 6:15pm Jul 2, 2009 5:02pm | Edited 6:15pm
Quoting forexchequer
Nooooo no............ I lost all my gains for the week because of those figures. It was just a shock to me thats all.
Deposit still intack though. Monday is another day. FX thanks for the heads up about the Non Farm Employment. If you hadn't mentioned it was coming out the damage would have been worst. Cheers. I now have a post-it on my laptop to remind me to check the calendar everyday.

Enjoy Independence Day.
Thank you Sir! We shall enjoy the holiday. Barbeque and fireworks. Glad my reminder helped. I put the news on my webpage, and still I forget sometimes to look at the calendar before I start reading charts. I need to get back in the habit of always looking at the calendar first.
  • #1,646
  • Edited 6:15pm Jul 2, 2009 5:08pm | Edited 6:15pm
Quoting Jermy365
I have had my fair share of beat down from news candles. Since last year September the market's reaction to news have been very contrary. So I tend to stay out.
Hey Jermy,

Ever since last year, when the Banking troubles started, it is hard to decide in Risk Aversion/Appetite, will dominate, or if that actual news, will effect the currency. Especially the on the USD. Just the past 2 hours are an example of strange volatility in the market. Quiet after the Non Farm, then at NY close, someone was buying up the USD and it made another spike. I don't like this PA at all.
  • #1,647
  • Jul 2, 2009 9:08pm Jul 2, 2009 9:08pm
Hey everybody,

How do you plan to deal with the NFA's new rules. No Stop orders nor limit orders. and Multiple positions will be closed only on a FIFO basis. Therefore if you have trade 1 down 100 and trade 2 up 50 you cannot close trade 2 and lock in profits while allowing trade 1 to move back towards positive. Instead if you wish to take profit from trade 2 you will have to first accept your losses from trade 1. Some rule huh :-)

The only way you can protect yourself now is by placing an order in the opposite direction of the original trade. Using the OCO principle. Bearing in mind hedging is now prohibited.
  • #1,648
  • Jul 3, 2009 4:14am Jul 3, 2009 4:14am
Quoting Jermy365
Hey everybody,

How do you plan to deal with the NFA's new rules. No Stop orders nor limit orders. and Multiple positions will be closed only on a FIFO basis. Therefore if you have trade 1 down 100 and trade 2 up 50 you cannot close trade 2 and lock in profits while allowing trade 1 to move back towards positive. Instead if you wish to take profit from trade 2 you will have to first accept your losses from trade 1. Some rule huh :-)

The only way you can protect yourself now is by placing an order in the opposite direction of the original trade....
Jermy, I'm still researching into it, and I will let you know. One of the brokers I use, IBFX let's you open multiple accounts. This was to overcome the hedging rules. Another way is to use different brokers. I use 3 brokers now, but mainly trade out of my ACM account. I'll call my Broker at ACM and see what they plan on doing about it. You might want to look into using a non US broker to get away from the rule.

Here's what IBFX said about it:

To our valued clients,

As you may know, the National Futures Association (NFA), has implemented new First-in, First-out (FIFO) requirements that will be in effect as of July 31, 2009. We at Interbank FX have been working hard on a solution and are confident that our traders will be able to use our MetaTrader 4 platform with little or no interruption. They will also continue to be able to use their MT4 expert advisors.
The NFA is striving to ensure the highest levels of integrity from all market participants and their intermediaries. We want to assure you that Interbank FX strives to be 100% compliant with the NFA.
We are currently working on some informational and instructional videos regarding the FIFO requirements and our solution, however most of you will be able to continue trading without any impact to your platform or strategies. In our effort to provide the best solution for your trading, you will be fully advised prior to any proposed changes.
We thank you for your continued support and wish you the best of luck with your trading.

Best regards,
IBFX
  • #1,649
  • Jul 6, 2009 5:38am Jul 6, 2009 5:38am
Hey Everyone,

Hope you all had a good weekend.

Last week, PA slowed down, and my usual setups were few and far between. The breaks out of consolidations weren't making the moves they usually do.

I posted a video, just showing a method I also use in my trading. Simply just watching for breaks of major S/R levels and Psyche levels.
  • #1,650
  • Jul 6, 2009 6:20am Jul 6, 2009 6:20am
Hi Dad hope you enjoyed the holidays for the 4th and had a fun wkend. Just watched your new video, helpful as always. I have voted BTW! Would be very useful. The end of last week and today the markets are pretty quiet it seems and no news items today either, haven't looked for the rest of the week.
  • #1,651
  • Jul 6, 2009 8:28pm Jul 6, 2009 8:28pm
Quoting LinksMan
Hi Dad hope you enjoyed the holidays for the 4th and had a fun wkend. Just watched your new video, helpful as always. I have voted BTW! Would be very useful. The end of last week and today the markets are pretty quiet it seems and no news items today either, haven't looked for the rest of the week.
Hey Links!

My 4th was quiet. Me and the kids went and watched fireworks, and had a little family BBQ of Hamburgers and Hotdogs. Nothing fancy. It was nice.

As far as news goes, there are a few important AUD tidbits this week. A couple for CHF, CAD, USD and GBP, but nothing earth shattering. All eyes and ears will be focused on the G8 this week. You can bet a few politicians will say something to make a couple spikes in some prices, on a few forex pairs.
  • #1,652
  • Edited 3:27am Jul 7, 2009 3:22am | Edited 3:27am
GBPJPY has made a nice break of the 154.60 support and is now finding support at 153.50. Posted a video review of S/R breaks, as outlined in yesterday's video.
Attached Image
  • #1,653
  • Jul 7, 2009 6:17pm Jul 7, 2009 6:17pm
A break below 1.61 could make a decent move down, with first support at 1.6020.

No video today, unless something catches my eye, I'll point it out.

Trade safe!
  • #1,654
  • Jul 7, 2009 6:21pm Jul 7, 2009 6:21pm
Break below 1.39 would be something to watch for too. I like the Cable better.
  • #1,655
  • Jul 8, 2009 1:02am Jul 8, 2009 1:02am
If trades were taken on the GBPJPY or the GBPUSD, to stay conservative, I'd move stops to B/E, and the next hour tends to get volatile with some of the European markets opening.
  • #1,656
  • Jul 8, 2009 1:05am Jul 8, 2009 1:05am
Sorry, I just realized, I only posted the GBPJPY on the blog, so I hope you were watching it.
  • #1,657
  • Jul 8, 2009 1:48am Jul 8, 2009 1:48am
Quoting FX Dad
Sorry, I just realized, I only posted the GBPJPY on the blog, so I hope you were watching it.
I closed half my GBPJPY at 151.10 and the other half stopped out at 151.50. I got in at 152.48.

I've got my stop on the Cable at 1.6105, in at 1.6095. TP is set at 1.6050. That will make for a decent day, either way. May head off to the pillow, so if I'm not back today, I hope you all had, or will have a good day.
  • #1,658
  • Jul 8, 2009 2:08am Jul 8, 2009 2:08am
Morning Dad, looks like GBP/USD is on the way up breaking out of 6110, same with EUR/USD. Only news out at 9 with Halifax house price index. As you said earlier in the week with the G8 starting today it could go any direction! Sleep well.
  • #1,659
  • Jul 8, 2009 2:28am Jul 8, 2009 2:28am
Quoting LinksMan
Morning Dad, looks like GBP/USD is on the way up breaking out of 6110, same with EUR/USD. Only news out at 9 with Halifax house price index. As you said earlier in the week with the G8 starting today it could go any direction! Sleep well.
Hey Links! Yeah, on the Cable, I was going to clear out at 1.6050, but since I made some on the GBPJPY, I thought I'd let it ride and see what happened. Usually I clear something at 50 pips. I held this one a little too long.
  • #1,660
  • Jul 8, 2009 6:37am Jul 8, 2009 6:37am
just a quick hello guys i'm back from my break but flat out in work.

on a golfing note, played a new course yesterday evening and had a great round 2 birdies 8 pars, 4 bogies... 4 triples hurt and stopped me getting a pb (stupid lossed balls) but sill i'm getting there! senior tour here i come lol

trade well

regards
0 traders viewing now