Now I'm not trying to be boastfull, but you have to admit that my calls were pretty precise today. Go back over my posts today and compare with your charts.
Now I'm not trying to be boastfull, but you have to admit that my calls were pretty precise today. Go back over my posts today and compare with your charts.
JohnFX
Ignored
You called the euro almost to a tee, it did go higher than you thought but retraced within 5 pips of 1.1968
At the beginning of this past week I had announced that I would be taking a defined approach in using my Price Magnets. I mentioned I would be using a 50 pip target and 50 pip stop. Now I plan to try a different approach.
A while back, a poster to this thread suggested that I may want to try options such as a "one touch" option. I never really thought about it until recently. But it does make a lot of sense since as most of you have seen, I can pick price levels that price visits pretty accurately. But my problem has been where the best time is to enter and what stop to use. Well the stop isn't an issue if using an option. I know I have read and heard that options are not a good deal, but I still am going to give it a try. I have opened a small account with BetonMarkets. They are not your average Forex broker but are a sort of Financial Bookie. The wagers they take on financial products (including Forex) are basicly just like an option. As far as the company is comcerned they are owned by a big publicly traded firm on the Hong Kong stock exchange so they appear to be legit and they have been in business several years. But I won't deposit any significant money with them until I gain confidence in them. Once I make some wagers (trades) and make some $$$ and withdraw some $$$ without any problems. I do like the way they handle deposits and withdrawals. Instantly to and from a debit card (Visa Verified) with no fees. I'll let you folks know how its going. If anyone out there has had any experiences with BetonMarkets please feel free to post any comments here. I would appreciate it. Once I start to trade with them I will post statements and results on my website.
Thanks;
JohnFX
P.S. Big snowstorm headed here tonight in New England. I hope it heads out to sea and misses us.
I will be watching these levels when the market opens. The divergence suggests that price will move down before up. If so and if 117.50 holds that would be a good place to go long or buy a 118.53 "touch option".
I will be watching these levels when the market opens. The divergence suggests that price will move down before up. If so and if 117.50 holds that would be a good place to go long or buy a 118.53 "touch option".
My 117.51 Price Magnet has just been hit, as I expected. I have purchased a 118.50 one-touch option in my B.O.M. account since there is a Price Magnet at 118.53. The option has 7 days to hit its target. Should Be a Piece-of-Cake hopefully.
Something I just noticed about B.O.M. (BetonMarkets) is that the option or (wager) increases in value as price moves in my favor. So if I desire, once the option is "in-the-money", I can sell it for a profit (lesser) instead of waiting for it to hit my price magnet. That's cool, just like regular stock options on CBOE.
When I said I opened a small account with BOM, I mean VERY small acount, only $50 to start.
My 117.51 Price Magnet has just been hit, as I expected. I have purchased a 118.50 one-touch option in my B.O.M. account since there is a Price Magnet at 118.53. The option has 7 days to hit its target. Should Be a Piece-of-Cake hopefully.
Thanks;
JohnFX
Ignored
I noticed that the USDJPY created another Price Magnet at 117.55.
So it has one at 117.55 and 118.53.
I did close out the 118.50 option for a 22% profit when USDJPY spiked up a bit to 118.04 and when I had noticed that a new price magnet had been created at 117.55. It's hard to determine if it will go back to 117.55 again, before heading to my 118.53 target.
I noticed that the USDJPY created another Price Magnet at 117.55.
So it has one at 117.55 and 118.53.
I did close out the 118.50 option for a 22% profit when USDJPY spiked up a bit to 118.04 and when I had noticed that a new price magnet had been created at 117.55. It's hard to determine if it will go back to 117.55 again, before heading to my 118.53 target.
Well it's midnight here and I'm off to bed.
Thanks;
JohnFX
Ignored
The 117.55 Price Magnet has been hit. I purchased another 118.50 "touch Option". It has 5 days to reach its target.
During the last 8 hours or so (I think), I went on another scalp-fest during these boring pathetic market conditions. Good practice and I only used micro-lot size. Well anyway, I had 53 winners and 4 losers (93%), wow about 150 pips net. If you want to see the statement here it is:
... I have opened a small account with BetonMarkets.
... If anyone out there has had any experiences with BetonMarkets please feel free to post any comments here. I would appreciate it.
P.S. Big snowstorm headed here tonight in New England. I hope it heads out to sea and misses us.
Ignored
I've had an account with BOM for more than a year and so far everything has gone smooth. Almost instantaneous withdrawals and good customer relationships.
Hey, what a storm ! They said it was the biggest ever recorded in the US !
I've had an account with BOM for more than a year and so far everything has gone smooth. Almost instantaneous withdrawals and good customer relationships.
Hey, what a storm ! They said it was the biggest ever recorded in the US !
Ignored
Hey, thanks for the input about BOM.
No, here in my part of Massachusetts, wasn't close to being the biggest storm. We only had 10 inches. Some parts of MA got 2 feet.
We had a blizzard last year (jan. 23, 05) where we got about 30 inches and the storm last for 2 days.
The 117.55 Price Magnet has been hit. I purchased another 118.50 "touch Option". It has 5 days to reach its target.
JohnFX
Ignored
I had the opportunity to sell the 118.50 touch option this morning (NY) at a small profit, so I did. With the Japan GDP due out today at 6:50 PM (EST), there is no telling what the Yen will do. Plus the USDJPY and the whole Forex market in general, has really tested my patience the past few days.
The USDJPY now has a price magnet down at 117.40, so I may be looking to buy another option for that price point, if and when it gets closer to 118.50 (meaning I'll be looking to short that 118.50 price area).
I had the opportunity to sell the 118.50 touch option this morning (NY) at a small profit, so I did. With the Japan GDP due out today at 6:50 PM (EST), there is no telling what the Yen will do. Plus the USDJPY and the whole Forex market in general, has really tested my patience the past few days.
The USDJPY now has a price magnet down at 117.40, so I may be looking to buy another option for that price point, if and when it gets closer to 118.50 (meaning I'll be looking to short that 118.50 price area).
Thanks;
JohnFX
Ignored
The 117.40 price was hit after the Japan GDP release
