Spot FX Day Trader's Thread

Why 1.475 out of interest?

Interesting slide show.. top rogue traders..

http://www.cnbc.com/id/37560147?slide=1

I can't believe the risks these guys take!

I was looking at the dailies, but it looks like 1.476 or even 1.4765 would be better.. thanks

This equity rally has bull trap written all over it..

Stock market's days are numbered.

Rising wedge on hourly Euro.

US companies holding biggest cash reserves in banks since 1952 according to WSJ.

yes, that cash reserve news has been out for quite some time, but rather than try to hit a home run tonight I'm banking my second EU trade for 20 to end the day with a modest gain.. I'll sell again at 1.215

ugh.. might have second guessed myself.. looks like risk is coming off the boil in early Asia.. of course the big boys in Japan and China haven't had their say yet..

In the last couple of hours G/J has tried to crack 135 numerous times but the resistence there has beena bit compelling (up until now)

New page seems likely to be about the word austerity, that equals reduced growth. We may not know how it will effect currencies, although reasonable to expect USD to climb, yet what's very likely is stock markets will have to start pricing that in sooner than later. Only hyper inflation may send stocks through the roof, but central banks & politicanos will try to not allow this. So we are looking at austerity & higher interest rates.

After 3 up days 4th tends to be sideways to down day.

I got filled in my sleep on EU.. up 40 and reluctantly holding since I need these pips.

btw.. nice call on the EU turnaround point Js

1.215 was it after all .. so far anyway.

I'd pay decent money for historical fx data such as:

in the last 20 years a H&S 4hr neckline break reaches +200 before -200 64% of the time..

would be very useful but expensive. Anyone know of any companies that provide this sort of fx data that mere mortals can afford? I'd pay $200/mo. for it..

meh.. I cracked .. banked 55 on EU

Thanks. Have you considered looking into yearly OHLC? There is big money to be made playing year's range BO.

ouch.. banked too early.. screwed myself out of 50 pips or so.. oh well..

yeah I'll look into OHLC .. I can't hold a trade for more than 24 hours though..

Does anyone know a reason for the stock run up during the last 20 minutes of trading, or was it just end of week stuff?

nevermind.. it was superconductor companies..

S&P500 September numbers:

2010 open 1113
2010 high 1216
2010 low 1036
50% is 1126

And here is the crack (1586-666)/2+666=1126

1126 is the magic number. If price stalls there & drops toward 2010 low (1036) it should be as safe as houses to short 2010 low with stop above 1126.