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Trade what you see NOT what you expect

  • #19,961
  • Jul 28, 2009 6:39am Jul 28, 2009 6:39am
Quoting KENNETH lEE
Great Play..
I tried the 62 bounce on EJ too (bought down the wick of the previous 1h hammer). Managed to get half off at the 15m 10 but the rest has just been stopped at BE

Macc
  • #19,962
  • Jul 28, 2009 6:40am Jul 28, 2009 6:40am
Quoting macc
I took the 35/50 as the 15m candle that made the cross also closed at the 50 sma and the 50%fib. I subsequently closed all out at the close of the reversal candle as it was back at the 10ema, and then, as we'd made another 35/50 cross, I went short, this time being with the 15m trend rather than against.

Macc
'The past will always show us the future'
  • #19,963
  • Jul 28, 2009 6:41am Jul 28, 2009 6:41am
No problem, you brought a smile into what was a slow morning.

This area yesterday was a big resistance and although it is currently holding as support I see the eur/usd moving strongly down and maybe taking cable with it. eur/jpy trading below 200ma on 15min and now gbp/jpy also trading below its 200ma.
I have no position yet but I feel shorts could play out

Quoting macc
Sorry if I was a distraction Rob I'm usually MY biggest distraction

I took the 35/50 as the 15m candle that made the cross also closed at the 50 sma and the 50%fib. I subsequently closed all out at the close of the reversal candle as it was back at the 10ema, and then, as we'd made another 35/50 cross, I went short, this time being with the 15m trend rather than against.

Macc
  • #19,964
  • Jul 28, 2009 6:50am Jul 28, 2009 6:50am
Quoting robgsxr
No problem, you brought a smile into what was a slow morning.

This area yesterday was a big resistance and although it is currently holding as support I see the eur/usd moving strongly down and maybe taking cable with it. eur/jpy trading below 200ma on 15min and now gbp/jpy also trading below its 200ma.
I have no position yet but I feel shorts could play out


I'm still short GU from the second 35/50 cross and covered.
EJ is now also below the important 13500 area so I'm with you on the short bias. perhaps a retrace to the 1h 62 would present a nice shorting opportunity (if she wants to come back that is)

Macc
  • #19,965
  • Jul 28, 2009 6:53am Jul 28, 2009 6:53am
Quoting robgsxr
No problem, you brought a smile into what was a slow morning.

This area yesterday was a big resistance and although it is currently holding as support I see the eur/usd moving strongly down and maybe taking cable with it. eur/jpy trading below 200ma on 15min and now gbp/jpy also trading below its 200ma.
I have no position yet but I feel shorts could play out
Great call
  • #19,966
  • Edited 6:59am Jul 28, 2009 6:54am | Edited 6:59am
I read it the same
1.6469 could bounce at the 15min 200ma and just below is a daily pivot



Quoting macc


I'm still short GU from the second 35/50 cross and covered.
EJ is now also below the important 13500 area so I'm with you on the short bias. perhaps a retrace to the 1h 62 would present a nice shorting opportunity (if she wants to come back that is)

Macc
  • #19,967
  • Jul 28, 2009 6:57am Jul 28, 2009 6:57am
Quoting KENNETH lEE
Unless you use a UK broker no US broker can allow hedging on same account reason why most the guys here have 2 or more accounts. Oanda used to let you have multiple orders open now they cancel each other.

GFT has never had hedging on same account. So I have always had 2 accounts with them. It is a pain just like the SL.Limit bull. It is nothing more than a internal paperwork issue which some brokers aren't willing to do.. It didn't effect a lot of them as they were already doing it the right way I guess..

Good thing for checking that out could...
Morning, fellows

I saw yesterday discussion about platforms.
I am using the same platform as Shilva, and I’ve got a newer version this morning.
It’s VT Trader 2.0 from CMS. Hedging is not my major concern.
The worst part they deleted Stop and Limit options for opened trade.
I’ve tried to chat with their tech support, and he/she mentioned some new rules for Stops and Limits starting Aug 1.
Does anybody know anything about it?
  • #19,968
  • Jul 28, 2009 7:04am Jul 28, 2009 7:04am
long at 1.6474 and covered now at BE


Quoting robgsxr
I read it the same
1.6469 could bounce at the 15min 200ma and just below is a daily pivot
  • #19,969
  • Jul 28, 2009 7:08am Jul 28, 2009 7:08am
Quoting Komissar
Morning, fellows

I saw yesterday discussion about platforms.
I am using the same platform as Shilva, and I’ve got a newer version this morning.
It’s VT Trader 2.0 from CMS. Hedging is not my major concern.
The worst part they deleted Stop and Limit options for opened trade.
I’ve tried to chat with their tech support, and he/she mentioned some new rules for Stops and Limits starting Aug 1.
Does anybody know anything about it?
I really don't understand what they did as it hasn't affected my brokers.
Oanda and GFT stops and limits have always been OCO (one cancel the Other)

Now you will instead of stops you just have to set Limil orders. That is the way I understand it any way. Just won't be called a stop.

I really don't know much .. Sorry.
Good Trading To All ; Ken Lee
  • #19,970
  • Jul 28, 2009 7:10am Jul 28, 2009 7:10am
Quoting robgsxr
long at 1.6474 and covered now at BE
I closed all of my GU short just shy of the 15m 200 but didn't reverse. She's come back up nicely off that 1h TL down there too

(of course, the 62 bounce is there too)
  • #19,971
  • Jul 28, 2009 7:10am Jul 28, 2009 7:10am
Just found this on Yahoo!Finance.

"Regulators weigh limits on energy futures trading as price swings hurt industries, consumers"

I don't like it.
They might do something similar about Forex.
  • #19,972
  • Jul 28, 2009 7:16am Jul 28, 2009 7:16am
I have a daily pivot to help my confidence also.. I think I am just a little lucky today my trades are working out well....

I will remain thankful to EO and all the guys here for helping me to read so much better than ever before



Quoting macc
I closed all of my GU short just shy of the 15m 200 but didn't reverse. She's come back up nicely off that 1h TL down there too

(of course, the 62 bounce is there too)
  • #19,973
  • Jul 28, 2009 7:18am Jul 28, 2009 7:18am
Quoting KENNETH lEE
I really don't understand what they did as it hasn't affected my brokers.
Oanda and GFT stops and limits have always been OCO (one cancel the Other)

Now you will instead of stops you just have to set Limil orders. That is the way I understand it any way. Just won't be called a stop.

I really don't know much .. Sorry.
Thanks for fast response, Ken
Previously I was able to open trade (for example, short on GU at 1.6496). Then I can put stop on it - like close at 1.6525, if it goes against me.
Also, I can put limit order - like 1.6401, if I expect it to drop.
Now I am set, and I can go if I need to.

With newer version I only can open and close trade, no Stop or Limit.
And they said that I would not be able to put Stops/Limits according new regulations beginning Aug 1. I am curious what these regulations about.
  • #19,974
  • Jul 28, 2009 7:23am Jul 28, 2009 7:23am
I had confirmation last night that my FXCM new york account is now running through their london office. Everything stays as it was. I like it that way.

Quoting Komissar
Morning, fellows

I saw yesterday discussion about platforms.
I am using the same platform as Shilva, and I’ve got a newer version this morning.
It’s VT Trader 2.0 from CMS. Hedging is not my major concern.
The worst part they deleted Stop and Limit options for opened trade.
I’ve tried to chat with their tech support, and he/she mentioned some new rules for Stops and Limits starting Aug 1.
Does anybody know anything about it?
  • #19,975
  • Jul 28, 2009 7:33am Jul 28, 2009 7:33am
Quoting Komissar
Thanks for fast response, Ken
Previously I was able to open trade (for example, short on GU at 1.6496). Then I can put stop on it - like close at 1.6525, if it goes against me.
Also, I can put limit order - like 1.6401, if I expect it to drop.
Now I am set, and I can go if I need to.

With newer version I only can open and close trade, no Stop or Limit.
And they said that I would not be able to put Stops/Limits according new regulations beginning Aug 1. I am curious what these regulations about.

Seems like different brokers are making different type of changes.. The interuptation of the rule I guess. Always something to have to deal with.. hard to bellieve they won't let you set Limit orders at all.

Most I have heard about now have to open a position then place limits for stops and tp.If they are set at opening of position then they have to be OCO orders. Like if you have predefined stops and TP now must be OCO..
Which most were already.

All in the name of protecting us.. Thanks for nothing..
Good Trading To All ; Ken Lee
  • #19,976
  • Jul 28, 2009 7:59am Jul 28, 2009 7:59am
Quoting KENNETH lEE
Seems like different brokers are making different type of changes.. The interuptation of the rule I guess. Always something to have to deal with.. hard to bellieve they won't let you set Limit orders at all.

Most I have heard about now have to open a position then place limits for stops and tp.If they are set at opening of position then they have to be OCO orders. Like if you have predefined stops and TP now must be OCO..
Which most were already.

All in the name of protecting us.. Thanks for nothing..
You're right, Ken. I found OCO option.
This is ridiculous! Now I can't open trade fast enough if I want it to be protected trade. Or, I can open it fast, but I have to keep finger on the trigger.
I need to find out if these rules are only for US. If Yes, then we all know what to do.
  • #19,977
  • Jul 28, 2009 8:05am Jul 28, 2009 8:05am
Quoting Komissar
You're right, Ken. I found OCO option.
This is ridiculous! Now I can't open trade fast enough if I want it to be protected trade. Or, I can open it fast, but I have to keep finger on the trigger.
I need to find out if these rules are only for US. If Yes, then we all know what to do.

Some people depending on your broker cna have your account serviced through their UK offices . Then they don't have to comply.. Might see if your broker has a overseas office.
Good Trading To All ; Ken Lee
  • #19,978
  • Jul 28, 2009 8:35am Jul 28, 2009 8:35am
Good morning,
In regards to all of NFA changes and considering all that is happening in our country (USA)....well I personally decided to change brokers overseas....I am using an MT4 platform base company MIG out of Switzerland and do not have any such restrictions...
Successful trading to ALL...
  • #19,979
  • Jul 28, 2009 8:58am Jul 28, 2009 8:58am
Check this out.
It explains a lot about this f..king new rule.
http://www.fxsolutions.com/notice/fifo.asp?pid=853790
  • #19,980
  • Jul 28, 2009 9:07am Jul 28, 2009 9:07am
Quoting robgsxr
I have a daily pivot to help my confidence also.. I think I am just a little lucky today my trades are working out well....

I will remain thankful to EO and all the guys here for helping me to read so much better than ever before

Good job today Rob! I have a question about your screenname, do you have a GSXR? I used to have a GSXR750 'til a stupid old lady pulled out in front of me and stopped.
Just digging in the trenches like everyone else!
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