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  • #561,901
  • Nov 15, 2011 5:39am Nov 15, 2011 5:39am
Quoting smikester
I am waiting patiently for the 1.3500 play. I'm a longer term trader and it looks like we're about to test those February lows again. Anybody got any views on this?
3490 is a profit taking level so we might see some kind of reaction to that. Dont know about long term buying there tho.
  • #561,902
  • Nov 15, 2011 5:43am Nov 15, 2011 5:43am
Quoting cloggie
There are times when TY is good, they are getting more and more HFT's, but yeah, London is where's it's at. The only times I play TY is when the equities rally over there, if there is hardly any movement in equities I just leave that session alone. I always eyeball the Kospi to judge the appetite for a decent move as there is so much foreign capital there.
good tip and usually gets covered well on bbc late night news...
  • #561,903
  • Nov 15, 2011 5:45am Nov 15, 2011 5:45am
Quoting FibbinArchie
good tip and usually gets covered well on bbc late night news...

I only play TY from a risk appetite point of view, not going to chase the 40 pips when there is no significant change in risk. Go back over your charts and you can see decent moves when they are triggered by risk, then the session can be good for a 100 pipper and you tend to get it early in the session too. That's why I like being on GMT, it gives me an undisturbed dinner and an early peak at the TY session without having to wait up to see it materialise.
  • #561,904
  • Nov 15, 2011 5:47am Nov 15, 2011 5:47am
Quoting cloggie
I only play TY from a risk appetite point of view, not going to chase the 40 pips when there is no significant change in risk. Go back over your charts and you can see decent moves when they are triggered by risk, then the session can be good for a 100 pipper.
opportunity risk, ty or london, can't really do both...

511 putting up a bit of a defence here...
  • #561,905
  • Nov 15, 2011 5:48am Nov 15, 2011 5:48am
Quoting FibbinArchie
opportunity risk, ty or london, can't really do both...

IF you have to choose between either, then the choice is easy, London every time.

Quoting FibbinArchie
511 putting up a bit of a defence here...
Go back over my posts, I did say scalps only, nothing mid term setting up here right now.

We are in suckers play here, this is where the noobs lose their shirt anticipating moves, when there is nothing to be had.
  • #561,906
  • Nov 15, 2011 5:50am Nov 15, 2011 5:50am
Quoting cloggie
IF you have to choose between either, then the choice is easy, London every time.
yes agree, just got into the bad habit, usually if ty is static i end up surfing some nonsense and before you know it it's 3am...
  • #561,907
  • Nov 15, 2011 5:50am Nov 15, 2011 5:50am
Quoting cloggie
IF you have to choose between either, then the choice is easy, London every time.



Go back over my posts, I did say scalps only, nothing mid term setting up here right now.
will do..
  • #561,908
  • Nov 15, 2011 5:51am Nov 15, 2011 5:51am
Quoting FibbinArchie
yes agree, just got into the bad habit, usually if ty is static i end up surfing some nonsense and before you know it it's 3am...

Discipline young man, discipline.
  • #561,909
  • Nov 15, 2011 5:54am Nov 15, 2011 5:54am
Quoting FibbinArchie
will do..

Most newer traders have a hard enough time spotting a trend. Price tends to spend most of the time in ranges and being able to spot those is key. Knowing when to change strategy to adapt to the current PA is something that takes serious screen time.

Posted 2 hours ago:

Quoting cloggie
We are in the consolidation phase, can the ECB reverse this or are we going to continue, everyone is keeping an eye on them to see what the signal is going to be, then we got another no brainer setup here. Don't go anticipating now, you hear. Be fat, dumb and stupid, just follow the crowd.
Quoting cloggie
Time to scalp a few. No mid/long term setups on this pair right here. Time to play the range.
  • #561,910
  • Nov 15, 2011 5:55am Nov 15, 2011 5:55am
Quoting cloggie
Discipline young man, discipline.
re. ty, yes usually if it's going distance then you get a strong break right at the open, so no excuse for wasting time with it if it just meanders..
  • #561,911
  • Nov 15, 2011 5:56am Nov 15, 2011 5:56am
trading can be amazing when pretty much everything aligns.
For example, i never trade Gold, but shorted it at the Tokio HIGH
at Monday right after the open. This position alone is now worth
two thousend dollars.

As of now, i have 12! open positions, where 3 do not need my prior
attention, and 9 are open since Tokio Monday Open. Some of those are
medium 3 digits and some are 4 digits.

I am just writing this to encourage aspiring traders. Not for my glory.

In one sentence if you ask me how i did it: Sell the fu**ing Highs.

Last week i got a annoying income tax bill, i could pay that in full in one
payment if i had to. I of course won't do that, but it is nice to know i could.
  • #561,912
  • Nov 15, 2011 5:56am Nov 15, 2011 5:56am
Quoting cloggie
Discipline young man, discipline.
So True - Thank you for the guide all this time




Reading From Behind
Your Fans
If there was easy money lying around,no one would be forcing it into your
  • #561,913
  • Nov 15, 2011 5:56am Nov 15, 2011 5:56am
Quoting cloggie
Most newer traders have a hard enough time spotting a trend. Price tends to spend most of the time in ranges and being able to spot those is key. Knowing when to change strategy to adapt to the current PA is something that takes serious screen time.
experience, experience, experience, only way to learn this..
  • #561,914
  • Nov 15, 2011 5:58am Nov 15, 2011 5:58am
Quoting FibbinArchie
yes agree, just got into the bad habit, usually if ty is static i end up surfing some nonsense and before you know it it's 3am...
Tokyo sessions suck mostly imho. I mean - I better get some proper sleep and wake fresh like hour before Frankie opens the shop to get my charts in order and prepare for European session than to waste my time chasing those few pips...

For E/U itīs obviously overlapping London/NY session where you usually earn the most money, then of course also London open...

I usually trade actively max. 4 hours per day (Iīll let the noobs do the maths), the rest I watch news, other markets and trying to assemble the bigger picture in my head...
Quant Hedge Fund CEO
  • #561,915
  • Nov 15, 2011 6:01am Nov 15, 2011 6:01am
Quoting FXMastermind
Tokyo sessions suck mostly imho. I mean - I better get some proper sleep and wake fresh like hour before Frankie opens the shop to get my charts in order and prepare for European session than to waste my time chasing those few pips...

For E/U itīs obviously overlapping London/NY session where you usually earn the most money, then of course also London open...

I usually trade actively max. 4 hours per day (Iīll let the noobs do the maths), the rest I watch news, other markets and trying to assemble the bigger picture in my head...
have seen it go 100 pip + lots of times, but really the good moves are few and far between, but you know how it is, you always think tonight could be the night...

another option is to use text alerts of course, or even set and forget orders, although i always like to see how pa is behaving when i get in and out of positions...
  • #561,916
  • Nov 15, 2011 6:01am Nov 15, 2011 6:01am
Quoting FibbinArchie
experience, experience, experience, only way to learn this..

Yup, there are no shortcuts, there is nothing you can borrow, beg, buy or steal to make it in this business.

This ain't a get-rich-quick scheme, only those that persevere could make it in this business, and of those that do not all will. You have to get through the pain to get to the finish line. Most retailers just give up, all things in life that are worth learning are tough and take time, that's the way it is, only those that stick with it get rewarded in the end.
  • #561,917
  • Nov 15, 2011 6:03am Nov 15, 2011 6:03am
Quite a few decent results coming out of the US equity markets, that may lift the risk a bit at the open, watch es/DOW in the next few hours till NY opens in 2 1/2 hours.
  • #561,918
  • Nov 15, 2011 6:04am Nov 15, 2011 6:04am
Quoting smikester
I am waiting patiently for the 1.3500 play. I'm a longer term trader and it looks like we're about to test those February lows again. Anybody got any views on this?
u mean jan low?

i am looking break of 31 first. then towards the 2xx
aud im looking break for 0.93 first then 0.9, i dont know about it being lower, cox will have to see the situation by then.

but of cox, long term play have to look at the fundamental.

was holding this view, and will only change if eur region improves. i can't see anything yet as of now
  • #561,919
  • Nov 15, 2011 6:04am Nov 15, 2011 6:04am
Quoting cloggie
Yup, there are no shortcuts, there is nothing you can borrow, beg, buy or steal to make it in this business.

This ain't a get-rich-quick scheme, only those that persevere could make it in this business, and of those that do not all will.
it's truly a long, hard road, but the destination is worth it if you make it..
  • #561,920
  • Nov 15, 2011 6:06am Nov 15, 2011 6:06am
Quoting FibbinArchie
have seen it go 100 pip + lots of times, but really the good moves are few and far between, but you know how it is, you always think tonight could be the night...

another option is to use text alerts of course..
Exactly...This is all about opportunity costs and I expect better results from my trading if I trade that probability percentage of a good trade during TY for sleeping longer and better

Tokyo disappointed me more often than not - thatīs why.

Frankly, I donīt give a shit if Japs enjoy some nice moves, I know that London will always bring better ones - and on regular basis.
Quant Hedge Fund CEO
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