Islander and Medici trade the European open | Page 117 | Forex Factory

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Islander and Medici trade the European open

  • #2,321
  • Aug 25, 2010 9:16am Aug 25, 2010 9:16am
Quoting Islander
2010.08.25 16:00:02 *US Jul New Home Sales -12.4% To 276K; Consensus 333K

so Swissy dropped and I bought €. Swissy reversed and so did I, closed for a few more, time to assimulate the info and digest....

The 5m H vol shooting star that's just been €s high suggests a TP...
Cable sell felt safer...

As for digesting info, just like yesterday when the stock market tanked, I expect Euro and even more so cable to come down with a whistle.
  • #2,322
  • Aug 25, 2010 9:19am Aug 25, 2010 9:19am
Quoting medici
Cable sell felt safer...

As for digesting info, just like yesterday when the stock market tanked, I expect Euro and even more so cable to come down with a whistle.

€ held at its 75 level again and with bearish dvg, so I took a sell, cable a LH at its 50 level, so sold that too....I'll be happier if swissy can head north...
Trading Levels with WRBs
  • #2,323
  • Aug 25, 2010 9:22am Aug 25, 2010 9:22am
Quoting Islander
€ held at its 75 level again and with bearish dvg, so I took a sell, cable a LH at its 50 level, so sold that too....I'll be happier if swissy can head north...
Wouldn't read too much into Swissy on a day like today. Safe haven buying of CHF, I'd guess, keeps USDCHF from heading north.
  • #2,324
  • Aug 25, 2010 9:27am Aug 25, 2010 9:27am
Quoting medici
Wouldn't read too much into Swissy on a day like today. Safe haven buying of CHF, I'd guess, keeps USDCHF from heading north.

Good point, thanks....
Trading Levels with WRBs
  • #2,325
  • Aug 25, 2010 9:30am Aug 25, 2010 9:30am
Quoting Islander
Good point, thanks....
You're welcome! That's what we are here for after all
  • #2,326
  • Aug 25, 2010 9:33am Aug 25, 2010 9:33am
Quoting Sim
Yep was short from 45, got out at the end of that candle which formed that bounce so had a mental block with switching directions.. little things like this I'm working on
Makes me think of a prop trading firm, part of whose training of new traders includes the exercise of always having a position open, i.e. as soon as you have closed one you have to open another. Stop and reverse all day long...
  • #2,327
  • Aug 25, 2010 9:35am Aug 25, 2010 9:35am
Both have found some support ~their DPs, so I've banked my pips and will think about selling any bounce - if I dont call it a day....
Trading Levels with WRBs
  • #2,328
  • Aug 25, 2010 9:36am Aug 25, 2010 9:36am
Quoting Islander
Both have found some support ~their DPs, so I've banked my pips and will think about selling any bounce - if I dont call it a day....
Tempting option as it's been a good day, but I have a feeling that the rest will be even better...
  • #2,329
  • Aug 25, 2010 10:40am Aug 25, 2010 10:40am
Quoting medici
Makes me think of a prop trading firm, part of whose training of new traders includes the exercise of always having a position open, i.e. as soon as you have closed one you have to open another. Stop and reverse all day long...
Wtf LoL! I can see the training benefit.. but viable for making money ?
  • #2,330
  • Aug 25, 2010 10:42am Aug 25, 2010 10:42am
Well took most off now at resistance, targeting the rest for 1,55 lets see if it will get it if not so be it.
GL to you all.
Attached Image (click to enlarge)
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  • #2,331
  • Edited 11:50am Aug 25, 2010 11:10am | Edited 11:50am
Quoting Sim
Wtf LoL! I can see the training benefit.. but viable for making money ?
No, that's on simulator/demo.
  • #2,332
  • Aug 25, 2010 1:39pm Aug 25, 2010 1:39pm
OK. I like GU m5 now
hahah
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  • #2,333
  • Aug 25, 2010 1:42pm Aug 25, 2010 1:42pm
Quoting Sim
OK. I like GU m5 now
hahah
Good stuff! Let's see if it breaks 5462...I doubt it.
  • #2,334
  • Aug 25, 2010 1:46pm Aug 25, 2010 1:46pm
Quoting medici
Good stuff! Let's see if it breaks 5462...I doubt it.
Ahh yes, if it does I expect 80 to hit. hmm
  • #2,335
  • Aug 25, 2010 1:55pm Aug 25, 2010 1:55pm
Quoting Sim
Ahh yes, if it does I expect 80 to hit. hmm
Told you...
  • #2,336
  • Aug 25, 2010 1:57pm Aug 25, 2010 1:57pm
Yep this time of day can't expect much right?
  • #2,337
  • Aug 25, 2010 1:58pm Aug 25, 2010 1:58pm
Quoting Sim
Yep this time of day can't expect much right?
Correct. You were lucky to begin with...and then you push it...
  • #2,338
  • Aug 25, 2010 2:00pm Aug 25, 2010 2:00pm
Quoting medici
Correct. You were lucky to begin with...and then you push it...
Scalp scalp scalp

This is the reason I just scalp for the first impulse or two...how to distinguish between a runner and just a few?? Only thing is time of day in my head?
  • #2,339
  • Aug 25, 2010 2:06pm Aug 25, 2010 2:06pm
Quoting Sim
Scalp scalp scalp
Not quite what I meant to say. Take profit at the right time given your strategy, which may mean holding on for a while. And in this case the short from 5462 was to be preferred....

Quote

This is the reason I just scalp for the first impulse or two...how to distinguish between a runner and just a few?? Only thing is time of day in my head?

Looking at longer term charts than 1min, such as 15min, 1h and 4h And then there's experience. The most predictable and longest swings are before the 4pm fix...with exceptions naturally.
  • #2,340
  • Aug 25, 2010 2:10pm Aug 25, 2010 2:10pm
Ahh yes, again the mental block thing I'm working on especially with m1, going up and down... perhaps I should demo that prop firm technique!

That and this silly Jen Aniston film on Film4.

Can't take my eyes off her boobs
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