Spot FX Day Trader's Thread

Their swiss cheesy interventions ain't worked in recent times. I'm not keen on long anything right now...

taking 81 on AJ

I think I'll try a UJ long 92.25 s/l -10

banking 9 .. they almost got me.

I think I'll use a sell stop at 92.13 instead

that one was scary too but I got 10 on that one.. that's 100 pips for the day..

I'll try a long on EU around 1.233 .. below there it should completely fall off the cliff.

Looks like a busy day with plenty of plays. You finding the tight stops going good Pippy?

Early in the week tight stops were hurting .. TONS of false breaks.. Today I was able to use them very effectively. I did decent this week considering almost all of my trades were long Euro or Cable.. Caught the minimal bounces and took profit quickly..

I've covered all trades ahead of the weekend.. no more gaps.

I hope there is an obnoxious gap higher in Euro so I can sell it.

Howdy! Short term/swing trade. Sold UJ 92.31 with an emergency SL @ 95.1. Open target.

I bet there are $1 billion+ in USD buy orders below the 2008 lows in EU.. ten pips below and a really nice stop run should ensue.. I have an order to sell EU 1.232

UJ is really choppy.. I've been scalping long and short for two weeks with good success. Good support at 91.5 .. good resistance at 93.5... scalp fest in between

Kate Moss couldn't ever hope to be as thin as this market..

Thinner than Jude Law's hair.. an article from a UK paper (redundant as the day is long) is responsible for multiple tech levels being broken [yawn]

I'm afraid I don't trust nonsense like this

I'm scalping EU long 1.2335 .. stop and reverse 1.232

my reward is my risk ... taking 15 .. that ridiculous move was too obvious not to do a limit scalp

exact same trade .. once more

So you're playing the bounce until it breaks and runs the stops?

scalping with limits essentially means that you think there's a higher probability of major support holding rather than breaking on the first attempt.. If I thought it would hold altogether I would not scalp, I would enter and hold, but I think it will break., just not now, and I was right twice.

taking 24 pips... but I'll leave my sell stop order at 1.232

Ok. I hear ya. If I was quicker I would have done the same thing...played the bounce. Way to gather them pips.

Do you play that strategy a lot...ie. playing the bounce on the first return to a strong support/resistance area?