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  • #558,601
  • Nov 4, 2011 2:38pm Nov 4, 2011 2:38pm
Quoting cloggie
If your broker shuts (the market doesn't) why don't you play it safe and cover for the weekend for the sake of the spread. Can you really aniticpate what Mr P is going to say in 3 hours during the press conference? Do you really want to gamble with the Greeks in charge?

Keep in mind retail brokers do not honor stops during the weekend, you will get stopped at the first available price once your broker opens again.
that's what i thought. thanks
  • #558,602
  • Nov 4, 2011 2:39pm Nov 4, 2011 2:39pm
Quoting Cerber.bf2
that's what i thought. thanks

I don't even hold and my broker is available, there is no point, you never know what is going to come out. There are plenty of weekends with massive downgrades and wars breaking out.
  • #558,603
  • Nov 4, 2011 2:41pm Nov 4, 2011 2:41pm
Quoting cloggie
I don't even hold and my broker is available, there is no point, you never know what is going to come out. There are plenty of weekends with massive downgrades and wars breaking out.
I'm not really gambling since I moved it to be... so I guess gotta shutdown greed here and cover as you say
  • #558,604
  • Nov 4, 2011 2:44pm Nov 4, 2011 2:44pm
Quoting Cerber.bf2
I'm not really gambling since I moved it to be... so I guess gotta shutdown greed here and cover as you say
We still have Greece coming out this weekend and the G20, nobody really knows what either of those muppets are going to say to drive this in either direction. What if the G20 agree to new SDR's we are going up, what if the Greeks change their mind again and are calling for a referendum in January, we are heading down.

You just don't know and it is not trading, it is gambling. Keep your trades running till just before close and get what you can get out of it, then watch the news over the weekend.

Today is not the last change ever to put a trade on, you got to survive to trade another day, capital preservation is a trade.
  • #558,605
  • Nov 4, 2011 2:47pm Nov 4, 2011 2:47pm
Quoting Cerber.bf2
I'm not really gambling since I moved it to be... so I guess gotta shutdown greed here and cover as you say
It's all about ticks, and if the first tick your client gets when markets open back up is 60 pips off your BE stop loss then you take a 60 pip loss No fun.
  • #558,606
  • Nov 4, 2011 3:02pm Nov 4, 2011 3:02pm
hey cloggster, good to see you back as of recently.
  • #558,607
  • Nov 4, 2011 3:03pm Nov 4, 2011 3:03pm
Quoting cloggie
Keep in mind retail brokers do not honor stops during the weekend, you will get stopped at the first available price once your broker opens again.
I didn't know that!! I was very lucky not to go broke
  • #558,608
  • Nov 4, 2011 3:15pm Nov 4, 2011 3:15pm
Quoting factorof2
It's all about ticks, and if the first tick your client gets when markets open back up is 60 pips off your BE stop loss then you take a 60 pip loss No fun.
Quoting Cerber.bf2
Does anyone know whether a stop can technically be hit in case of a gap? I mean if the gap is way higher/lower than the stop..

Or is it up to each individual broker

To some extent you're right, and on the other hand wrong. There are ways to handle losses over the weekend. Say you're short and you have your SL at BE. If the market opens 60 pips than your BE you get a 60pip loss. But that's because you used a stop order. The smarter thing to do, is to delete the stop loss order and replace it with a buy limit equivalent in lotsize to that of your open short(s). If the market gaps higher on the open, you would be on a 60 pip loss but still get a chance of recovering the loss since most gaps are always filled.

The logic is: your broker will never close you out at a loss, because your mm order uses a limit not a stop. You will never be stopped at a price higher than your BE. That's all. Cheers.
Don't just beat the markets, leave bruises.
  • #558,609
  • Nov 4, 2011 3:20pm Nov 4, 2011 3:20pm
glad to see cloggie back.. his point of view always matters. not to forget all those who giving their effort to help newbie like me.. keep it up guys
  • #558,610
  • Nov 4, 2011 3:31pm Nov 4, 2011 3:31pm
Quoting rokokdaun
glad to see cloggie back.. his point of view always matters. not to forget all those who giving their effort to help newbie like me.. keep it up guys

hey,hey,hey rokok daun, kalu isak rokok daun takdok tebaka tok sedak wey....
  • #558,611
  • Nov 4, 2011 3:36pm Nov 4, 2011 3:36pm
Quoting cloggie
If your broker shuts (the market doesn't) why don't you play it safe and cover for the weekend for the sake of the spread. Can you really aniticpate what Mr P is going to say in 3 hours during the press conference? Do you really want to gamble with the Greeks in charge?

Keep in mind retail brokers do not honor stops during the weekend, you will get stopped at the first available price once your broker opens again.
Can you explain what is happening over the weekends with the big order and position flow. I heard-read about the black boxes. When groups of market makers exchange blocks of currencies.
And what is a philosophy behind opening 200 pips away from the Friday close.
  • #558,612
  • Nov 4, 2011 5:14pm Nov 4, 2011 5:14pm
Quoting cloggie
You just don't know and it is not trading, it is gambling. Keep your trades running till just before close and get what you can get out of it, then watch the news over the weekend.
what if you hold a long order and you have a t/p at 1.3800 but when your broker open the price jumped to 1.3820, will they give your that 20 pips bonus ?
  • #558,613
  • Nov 4, 2011 5:22pm Nov 4, 2011 5:22pm
Quoting 21vs7
And what is a philosophy behind opening 200 pips away from the Friday close.
Whats the point? How often do you see a 200 pip GAP?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #558,614
  • Nov 4, 2011 5:40pm Nov 4, 2011 5:40pm
Quoting KillerWhale
Whats the point? How often do you see a 200 pip GAP?
the worst case.. if gap open -100 pip? better b safe than sorry..
  • #558,615
  • Nov 4, 2011 5:55pm Nov 4, 2011 5:55pm
Mr P just won the vote, breaking 1.38 again as we speak.
  • #558,616
  • Nov 4, 2011 5:55pm Nov 4, 2011 5:55pm
I wonder what else is in store for the weekend

http://www.reuters.com/article/2011/...7A37P120111104
  • #558,617
  • Nov 4, 2011 6:20pm Nov 4, 2011 6:20pm
Quoting cloggie
Mr P just won the vote, breaking 1.38 again as we speak.
What data provider/site you use? I was checking xe.com, didn't notice 3800
  • #558,618
  • Nov 4, 2011 6:24pm Nov 4, 2011 6:24pm
news on greece

http://www.nytimes.com/2011/11/05/wo...t-plan.html?hp
  • #558,619
  • Nov 4, 2011 9:32pm Nov 4, 2011 9:32pm
Hi,

Data from Forexfactory :

Non-Farm Employment Change = 80K (prev = 158K)
Unemployment Rate = 9.0% (Prev = 9.1%)

We can see that Non-Farm Employment Change is about 50% smaller then previous, Unemployment Rate just change about 0.1%. But the USD gain about 100 pips in just more than 1 hour (EUR/USD going down) !!!
Any body can give me explaination, Why ???????????????

Thanks
-pedma-
Good friends are more valuable than gold ...
  • #558,620
  • Nov 4, 2011 9:43pm Nov 4, 2011 9:43pm
Quoting pedma
Hi,

Data from Forexfactory :

Non-Farm Employment Change = 80K (prev = 158K)
Unemployment Rate = 9.0% (Prev = 9.1%)

We can see that Non-Farm Employment Change is about 50% smaller then previous, Unemployment Rate just change about 0.1%. But the USD gain about 100 pips in just more than 1 hour (EUR/USD going down) !!!
Any body can give me explaination, Why ???????????????

Thanks
-pedma-
It might not have been only the NFP and unemployment data. Bernanke spoke earlier this week as well which is a good reinforcing factor for the economic growth that the Fed expects in the medium term. It could also have been that people were still a little wary of the Euro given the state of the Greek bailout deal earlier today. We still didn't know whether or not Papa's government was going to win a vote of confidence which might have scared investors into taking this data to be stronger than you might /think/ it is. Just my guess, but it seems reasonable to me.
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