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  • #256,101
  • Jun 10, 2010 2:53am Jun 10, 2010 2:53am
Quoting Jazznos
True... less exciting with 1 mini which is all I can do right now
good...and safe! Myself, I trade with Oanda with $1 per pip
SIMPLE is best! Let's make our trading and our life SIMPLER!
  • #256,102
  • Jun 10, 2010 2:55am Jun 10, 2010 2:55am
Sell
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  • #256,103
  • Jun 10, 2010 2:56am Jun 10, 2010 2:56am
Quoting sedge
good...and safe! Myself, I trade with Oanda with $1 per pip
$1 per pip is 0.1 lot for a standard account or 10 lots for a mini account at fxopen.
  • #256,104
  • Edited 3:23am Jun 10, 2010 3:00am | Edited 3:23am
Quoting DudeSepii
7 pips are good if the order is big....say 10 standard lots
Not neccessarily a big lot but can multiply many fold a pip all in a possible fixed movement , say 50 pips total movement range but if you can do scalping properly & no any problem in duplicate pips ,you can easily take 150-200 of them if done ok. but certainly risky as many to go with big lots & even try multiply the whole account in one such small movement . trouble is only greed , can flat at any moment if not so carefull .
If mupltiply trades then can more if one know definitely a 50 pips movement will occur but alas only 1 pip suerity is not there , perhaps to none.

sorry while writing , i forget to see charts , it is near my tp1 1.2005 . should to ready for action . close all shorts first.M5 price testing 200ma & so some jerks expected towards 1.2033 .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #256,105
  • Jun 10, 2010 3:23am Jun 10, 2010 3:23am
Anyone still scalping for shorts? Think it could run to daily PP?
  • #256,106
  • Jun 10, 2010 3:28am Jun 10, 2010 3:28am
I'm short from 1.2049. Previously I was long for most of the run up hill. I'm hoping it'll go down to at least 1.970.
  • #256,107
  • Jun 10, 2010 3:36am Jun 10, 2010 3:36am
Guess I'll be shorting at 1.2040
SIMPLE is best! Let's make our trading and our life SIMPLER!
  • #256,108
  • Jun 10, 2010 3:37am Jun 10, 2010 3:37am
Quoting Jazznos
Anyone still scalping for shorts? Think it could run to daily PP?
I got my confirmation today, a true long is in the works. I wouldn't be surprised if next week the overall trend changes.

Usd/Cad trend changed this week, so the pair is running long. Not solid longs but over the daily chart, price has hit resistance and took a turn upwards. To validate the long, I'm expecting violent consolidation swings over the shorter timeframes. I've been witnessing the violent swings over the h1 chart for the past two days.

Eurusd overall trend is due for at least a retracement and as of lately, hasn't really moved downwards with forces giving me enough cues to understand a trend reversal and/or retracement is in the works. Daily, Weekly, and month timeframes are serious oversold and needs and needs a move up in order to continue it's shorts.
  • #256,109
  • Jun 10, 2010 3:40am Jun 10, 2010 3:40am
Quoting Jhig
I got my confirmation today, a true long is in the works. I wouldn't be surprised if next week the overall trend changes.

Usd/Cad trend changed this week, so the pair is running long. Not solid longs but over the daily chart, price has hit resistance and took a turn upwards. To validate the long, I'm expecting violent consolidation swings over the shorter timeframes. I've been witnessing the violent swings over the h1 chart for the past two days.

Eurusd overall trend is due for at least a retracement and as of lately, hasn't really moved downwards...
Thinking the same provided it breaks 1.208 today.
Above 1.21 my first target is 1.25
Don't be a hero. Don't have an ego. Always question yourself
  • #256,110
  • Jun 10, 2010 3:41am Jun 10, 2010 3:41am
Cup and handle pattern @ M15 seems to be working so long @ 1.2028 free ride...
  • #256,111
  • Jun 10, 2010 3:41am Jun 10, 2010 3:41am
Quoting Jhig
I got my confirmation today, a true long is in the works. I wouldn't be surprised if next week the overall trend changes...
What did you base this on?

Anyway, I was silly tonight, moved my SL midway on an earlier trade and got stopped out otherwise i would have been in and gotten the 20 pips I wanted and that would have been enough... ah well, lesson learnt... finally ;-)
  • #256,112
  • Jun 10, 2010 3:45am Jun 10, 2010 3:45am
I'm long again from 38. fib level which is where the white line is (my entry) and i will be exiting at the last high which gives me a profit of another 34 pips. So far 60 pips from eur/usd alone. Waiting on next trade again... :-)
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  • #256,113
  • Jun 10, 2010 3:47am Jun 10, 2010 3:47am
pullback should find its high lately @1.20850
open short @1.20680 (dubble top)
TP1 1.20095
  • #256,114
  • Jun 10, 2010 3:47am Jun 10, 2010 3:47am
Tricky ba$tard.

I'm glad I got out of my short at +12 at 1.2022.

Heads up, people. we have important news in the next few hours so trade safe
  • #256,115
  • Jun 10, 2010 3:47am Jun 10, 2010 3:47am
Bull has been playing coy and now this uber bar prints, feels like manipulation, but i don't get the sense trend is turning around just yet.. Any fair retracement will raise eyebrows cause its been so long coming. But bottom of trend channel down at 1.18 will be tested before turn around, and may be broken en route to deeper fib. I feel PA is magnetized by the huge 50% fibo it just busted (2122 or so)and may overshoot some, like 40 to 90 points, but thats it. Just my feeling though...
  • #256,116
  • Jun 10, 2010 3:48am Jun 10, 2010 3:48am
Papa bull is really mad now
  • #256,117
  • Jun 10, 2010 3:56am Jun 10, 2010 3:56am
Bull prints a couple of decent candles and suddenly we're reversing? I remember the same kind of talk back at 2300, and many other times so far this year. I've also pointed this out every time someone has talking about a reversal, and I'm sure I'll have to point it out a few more times to parity.
  • #256,118
  • Jun 10, 2010 3:56am Jun 10, 2010 3:56am
Morning

Another dreary day in London but quite a bit of action in the Markets.
Asian equity markets are mostly trading in positive territory despite the negative lead from Wall Street overnight. The RBNZ lifted its OCR for the first time in 3 years to 2.75%. They talked of gradual tightening but the market is now pricing in another hike on July 29th. The kiwi was given a further boost by the best Terms of Trade balance since 1976. It rose 5.9% in Q1. Governor Bollard dampened the mood though when he said that he is "very cautious on further rate rises" and that "NZ is in a very different position from Australia". These statements were read by the market as being dovish and NZDUSD was sold off from 0.6725 down to just below 0.6700.

Australian employment data came in much stronger than expected once again in May, with employment rising 26900 (vs. +17500 expected) and the unemployment rate falling to 5.2% (vs. 5.4% expected). Around the same time, official Chinese macro data was released, with the headline trade balance number coming in at 19.5b against a market consensus of 8.8b.
Finally a Korean local newspaper was reporting that according to MoSF officer on June 14th regulation on FX forward will be announced. 1.Forward position of foreign branches will be 250% of capital. 2. Local banks forward position will be limited at 50% of their capital 3. Exporters hedge position will be limited from current 125% to 100% 4.Grace period of 2 year.

Yesterday, the Market was squeezed out of a lot of shorts but interestingly we didn't see any put on new positions. In HK we saw Leveraged buyers of USDKRW and USDINR and sellers of USDMYR. Better buyers of EURUSD and Macro sellers of AUDNZD. Despite the squeeze we still remain bearish EURUSD, EURGBP and AUDUSD. Xccy basis continues to narrow on positive data and narrowing of sovereign CDS spds. The largest move o/n was in JPY basis - narrowing 4bp on the back of strong GDP numbers and catch up with the previous days move in eur basis.

Today we have the BOE and the ECB rate announcements. Expect no change on both. Swedish and Norwegian CPIs are due out this morning and US Trade balance and Jobless claims this afternoon. Keep an eye on BP as well, pre market talk was that it would open at 340p! If you have bloomberg check out BPLN CDS EUR SR 1Y Corp if you get a chance. Crazy stuff.

Have a good day!
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  • #256,119
  • Jun 10, 2010 3:57am Jun 10, 2010 3:57am
5 min chart is showing cup and handle...were in the 'handle' part of consolidation. Ive been having ok success at scalping the patterns up and down (short at possible top, long at possible bottom).
  • #256,120
  • Edited 4:13am Jun 10, 2010 3:58am | Edited 4:13am
Though there was sudden bull still short scalping ok for me , it needs a break . Bull pretending strong but actually seems not yet .same targets remain.retake at better levels.
fontu
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Not understand?better not follow my analyses!doubt clearer first, risks ++
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