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  • #736,481
  • Dec 20, 2012 2:54am Dec 20, 2012 2:54am
Quoting ECN_Masters
Good for you. Do what works for you.
I followed post like yours 10 years back and blew over 20 accounts thinking it was an easy business until I figured out the truth.
No time to post much, heading out to a meeting.
yeah do us a favor and head out
New voice message: Why are you calling me? If I need you, I'll call you!
  • #736,482
  • Dec 20, 2012 2:55am Dec 20, 2012 2:55am
Quoting MaxDoom
for those interested I will get this out early, might avoid some abuse

OPTIONS: Option expiries for today's 1000ET cut,
* Euro-dollar; $1.3250, $1.3275, $1.3290, $1.3300(large)
* Dollar-yen; Y83.40, Y83.50, Y84.00, Y84.30, Y84.50
* Cable; $1.6300, $1.6100
* Euro-Swiss; Chf1.2090
* Aussie; $1.0400, $1.0455, $1.0480, $1.0500, $1.0525, $1.0600
* Kiwi; $0.8350, $0.8425
* Dollar-Swiss; Chf0.9150
* Euro-Swiss; Chf1.2090
* Euro-Sek; Sek8.6295
* Euro-Nok; Nok7.3000


It's useful to me and some so please keep posting.
  • #736,483
  • Dec 20, 2012 2:56am Dec 20, 2012 2:56am
Quoting John Gray
Hi Max,

Options are orders that will be processed IF a certain price is reached within a time period right?

So, if 1.3250 is reached on the euro, theory holds that upward movement would continue?

Depends which side you hold there will be a PUT and a matching CALL, so if you hold a PUT a 1.30 that gives you the right to sell @ 1.30 if the price is below you will exercise it. If you hold a CALL @ 1.30 and price is above you would exercise your right to buy.

Now, if an exercise happens, then currency will change hands, if it is a covered option (you hold the currency already) then no impact otherwise you have to go to the market to get the currency to fulfill the option exercise which is where it can impact the price depending on volume.

The second way it impacts is through protection orders if it is approaching an option price and you have enough interest and cash in the bank these prices can get protected until after the cut time by buying or selling.

There are some people on here that scoff at these numbers, but they are looking at it wrong. Yes there is no way to tell if one of these numbers will draw any trading or not until it happens, but sometimes they do and if you are aware of the numbers then you can be on the lookout for it and it can help your trading.

If price is miles away just ignore them, if price is close but moving freely, ignore it use it how you will
  • #736,484
  • Dec 20, 2012 2:56am Dec 20, 2012 2:56am
Quoting math_GB
Anything is possible but the trade is worth a shot, in case 1.3245 goes, it is very likely to see a new weekly high. I am trading only probabilities. I obviously don't know how it can play out but risking some of my day's profit is not a bad way of managing my risk. I made over 20 pips since morning and risking only half to make 80 pips...10:80... Wouldn't you take that...?
good for u i only made 13 pip maybe that's why i am thinking that way
A good trader follows his rules, but great trader knows when to break them
  • #736,485
  • Dec 20, 2012 2:56am Dec 20, 2012 2:56am
Quoting KillerWhale
yeah do us a favor and head out
Careful he may misunderstand and zip down his pants
  • #736,486
  • Dec 20, 2012 2:59am Dec 20, 2012 2:59am
Finally
New voice message: Why are you calling me? If I need you, I'll call you!
  • #736,487
  • Dec 20, 2012 2:59am Dec 20, 2012 2:59am
Quoting bennyblanco
Been learning to pay more and more attention to these tests in the morning
good

this was a classic test, but what kind of quality was it and why?

any takers
  • #736,488
  • Dec 20, 2012 3:02am Dec 20, 2012 3:02am
Quoting KillerWhale
Finally
The 4hr GannHilo has flipped over on EY, that means I will be holding my shorts until it flips over again to the other side.
Now patience is all I need.
Attached Image (click to enlarge)
Click to Enlarge Name: ey 4 hr 12-20-12.gif Size: 17 KB
New voice message: Why are you calling me? If I need you, I'll call you!
  • #736,489
  • Dec 20, 2012 3:03am Dec 20, 2012 3:03am
Quoting BlueGas
With you @ 90 , 89 must hold
I took half off 3220, and also watching 3197 to add on in case we dont break higher.
Attached Image (click to enlarge)
Click to Enlarge Name: eu5min.gif Size: 15 KB
  • #736,490
  • Dec 20, 2012 3:05am Dec 20, 2012 3:05am
Quoting MaxDoom
Depends which side you hold there will be a PUT and a matching CALL, so if you hold a PUT a 1.30 that gives you the right to sell @ 1.30 if the price is below you will exercise it. If you hold a CALL @ 1.30 and price is above you would exercise your right to buy.

Now, if an exercise happens, then currency will change hands, if it is a covered option (you hold the currency already) then no impact otherwise you have to go to the market to get the currency to fulfill the option exercise which is where it can impact the price depending on volume.

The...
Great, thanks for getting back to me.

Will definately be watching 1.3250
Even the worst trade can close with profit. Just give it time.
  • #736,491
  • Dec 20, 2012 3:05am Dec 20, 2012 3:05am
Quoting ill_be_back
good for u i only made 13 pip maybe that's why i am thinking that way
You are in a much better position than many traders who made no profits so far or worse in red. I am a newbee and have emotional problems while trading still. One thing I noticed, my best trading decisions happen to be on days when I start the day with some profit early in the day. It gives me peace of mind while trading and I act unbiased for the rest of the day. The way I see it, say I made 20 pips so far, they don't belong to me yet as long as they are still with my broker not untill I withdraw the funds. Those pips still belong to the market cause I will keep on trading... Have a think about it.
  • #736,492
  • Dec 20, 2012 3:07am Dec 20, 2012 3:07am
Quoting math_GB
And in for a LONG @1.3224 SL very tight 1.3214... TP on the way...
i think it was pump and dump
Sometimes it's better to be wrong,to learn..
  • #736,493
  • Dec 20, 2012 3:08am Dec 20, 2012 3:08am
Quoting KiNgEdwarD
i think it was pump and dump
It wasn't a good pump... yet...
  • #736,494
  • Dec 20, 2012 3:09am Dec 20, 2012 3:09am
Quoting KillerWhale
The 4hr GannHilo has flipped over on EY, that means I will be holding my shorts until it flips over again to the other side.
Now patience is all I need.
Trading can be very simple if you can stick to your rules and NEVER turn away from your own strict rules.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #736,495
  • Dec 20, 2012 3:11am Dec 20, 2012 3:11am
Quoting math_GB
It wasn't a good pump... yet...
GBP looks like well pump,retail sales may come out negative IMO
Sometimes it's better to be wrong,to learn..
  • #736,496
  • Dec 20, 2012 3:12am Dec 20, 2012 3:12am
stop moved to 1.318
  • #736,497
  • Dec 20, 2012 3:13am Dec 20, 2012 3:13am
Help needed!

Hello fellow traders, can anyone take look at this messed up account and
maybe know a way out of this...?

And serious comments apriciated-thanks!

Pitt Bull
Attached Image (click to enlarge)
Click to Enlarge Name: Account mess.jpg Size: 609 KB
  • #736,498
  • Dec 20, 2012 3:14am Dec 20, 2012 3:14am
Quoting KiNgEdwarD
GBP looks like well pump,retail sales may come out negative IMO
yep! GBP is overvalued IMO - it will drop in Q1.
Get rich or die tryin!
  • #736,499
  • Dec 20, 2012 3:15am Dec 20, 2012 3:15am
Quoting KiNgEdwarD
GBP looks like well pump,retail sales may come out negative IMO
It never comes negative this time of the year... My wife has been out shopping for the last couple of weeks...
  • #736,500
  • Dec 20, 2012 3:19am Dec 20, 2012 3:19am
QUOTE: Depends which side you hold there will be a PUT and a matching CALL, so if you hold a PUT a 1.30 that gives you the right to sell @ 1.30 if the price is below you will exercise it. If you hold a CALL @ 1.30 and price is above you would exercise your right to buy.

Now, if an exercise happens, then currency will change hands, if it is a covered option (you hold the currency already) then no impact otherwise you have to go to the market to get the currency to fulfill the option exercise which is where it can impact the price depending on volume.

The second way it impacts is through protection orders if it is approaching an option price and you have enough interest and cash in the bank these prices can get protected until after the cut time by buying or selling.

There are some people on here that scoff at these numbers, but they are looking at it wrong. Yes there is no way to tell if one of these numbers will draw any trading or not until it happens, but sometimes they do and if you are aware of the numbers then you can be on the lookout for it and it can help your trading.

If price is miles away just ignore them, if price is close but moving freely, ignore it use it how you will


Thanks for the enlightenment. I have been trying to understand option expiry and its' significance in trading.
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