Spot FX Day Trader's Thread

Paid an awful spread to get in on Aussie short at 0.8832, TP 0.8740

I've decided that this week I shall only execute phase 1 of my previous 2-phase plan
1. Make Pips
2. Give all pips back

eurusd is due for a bounce which could form a short term uptrend on hourlies, pippy have you ever tried 2x ATR as a stoploss, it's simply amazing, provided you are in a trend...

Got a laugh out of this (thread title). Thinking that it might not reach 1700 pages

http://www.forexfactory.com/showthread.php?t=218513

same here, I thought they were taking the piss!

I thought they might be mocking me but it doesn't seem so.. They just made the blunder of naming their thread "I'm shorting Euros" .. You'll never hear the end of it my friend!

Oh, and no I usually just bet on a s/r holding.. the s/l depends on the pair.. -20 through -35

Our proximity to Mexican cocaine factories makes rampages downtown almost passe in Houston.. The local news refuses to give them any coverage at all unless Lady Gaga is somehow involved.. sad really.

hows trading been?

I got 51 off ninja yesterday from my late Friday trade.. nothing right now

I got beat up last night. 20 pip stop on Aussie that got triggered by the same m15 bar that tanked

I'm still in cautious mode since I was 1 for 5 last week.. I thought EJ and UJ would turn around but guess what? THEY DIDN'T!

Ok.. I'm long again UJ 90.3 manual t/p and a stop 89.94.. I think this US rally should carry over to the Japanese session and result in some nice JPY selling.

^ I'll take one of those as well...

I'm actually short USDJPY, but I'm shorter term than you, Pippy, so hopefully we both make some pips.

I'm short from 90.80 with a breakeven stop loss now. I've booked half my trade and letting the rest ride down to somewhere below 90. This is based off the triple top at 90.80-90 area of confluence of fibonacci levels.

1hr and 4hr charts still show a downtrend in this pair, although daily chart has me thinking the downtrend in this pair is about at it's end.. possibly. But I think dailies are a little too far out of my timeframe.

Anyway, nice thread.

I'm expecting to get a nice jump when the Japanese markets open and it'll give me an opportunity to move my stop up.. I might get in early on a good move or it might tank but I think I have a good chance of avoiding a loss.

Well one of the things that has me worried, and this is in support of your view, the 38.2% fibonacci retracement level @ 90.26 is holding right now. This fibonacci is drawn from the most recent swing low (89.14) and high (90.95). So this so far supports a bullish trend at least in the short term.

So I'm in an area of uncertainty here. I'm wondering if I should just close up the trade or hold on. My fear of losing out has me staying in for at least tomorrow's NY open unless I'm stopped out by then.

annoying.. some news came out about Chinese banks that spooked the market and I covered at 12 pips profit.. could have had 25

yikes.. Spanish mortgage leader says real estate industry in Spain is bankrupt.. combined debt of 324 billion EUR = 30% of nation's GDP.. they are SCREWED..

ouch.. won't touch Euros.. we might see 1.25 again after all. I doubted it but that's pretty serious news. Real estate is very, very, very important..

noooooooooooo... I should have held ninja!

hehe.. hindsight is always 20/20. And I shouold have closed out my last short around 90.12!! I let it ride all the way back to breakeven. So much for letting my winner run..

I'm thinking about a short later in the day..