Ramblings of a Forex Junkie | Page 60 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Forex Trading: Incorporating Price Behavior into a Forex Trading System 4 replies

Forex Training: What to Look for in a Forex Training Program 1 reply

The Journal Of A Macro Fundamental & Technical Analysis Junkie 26 replies

Trade Anatomy - ramblings of an old-timer 147 replies

Attachments: Ramblings of a Forex Junkie
Exit Attachments

Ramblings of a Forex Junkie

  • #1,181
  • Mar 7, 2013 7:41am Mar 7, 2013 7:41am
Quoting square1
Yeah i saw that. I must agree, today was sweet for EJ and EU. Thanks for the heads-up on GU, i used to trade it as a correlated pair, but it trends awkwardly nowadays. I have to let it go. I dont usually take on Yen pairs because am asleep at that time and their spreads are big.
The spread on EJ is not big and it trades very nicely during European and London trading. My spreads on EJ are typically only half a pip larger than EU.
  • #1,182
  • Mar 7, 2013 7:42am Mar 7, 2013 7:42am
Am out, time to watch Django Unchained. Good trading.
  • #1,183
  • Mar 7, 2013 7:44am Mar 7, 2013 7:44am
Quoting Seneca pilot
The spread on EJ is not big and it trades very nicely during European and London trading. My spreads on EJ are typically only half a pip larger than EU.
Yeah, but i am building a portfolio from peanuts, using your method. I risk little at a time.
  • #1,184
  • Mar 7, 2013 12:49pm Mar 7, 2013 12:49pm
Quoting puma
Hi Square,
are you sure that your LO open is at 5.00 GMT? From your chart it looks 7.00 GMT to me, and in this case it would make sense because it is Frankfurt open?
Not to be negative, just to clarify and learn from each other!
Puma
that is what i was getting at lol, it came good though
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,185
  • Mar 7, 2013 1:19pm Mar 7, 2013 1:19pm
it all came together today, e/u dropped then i was able to get back in long, g/u i was already in and oil was good . i do not normaly trade 2 pairs at a time.Regarding trading the weekly/monthly breakout, i find this very difficult but IF it coincides with a daily break it pays dividends. As i keep saying i do not care why the markets move as long as i go with it. Take care
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,186
  • Mar 7, 2013 2:22pm Mar 7, 2013 2:22pm
Smikester, hi sir smike hope your good. long time no see
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,187
  • Mar 7, 2013 5:04pm Mar 7, 2013 5:04pm
Don't like to be a pain, but somehow missed SP's info on how he sets up for nfp.

A page, or general vicinity would be appreciated. Meanwhile I'm going back thru now.

Thanks,
Darryl

p.s.: We were all born with the 'Right to Remain Stupid'. Guess I'm playing that card today...
  • #1,188
  • Mar 7, 2013 5:40pm Mar 7, 2013 5:40pm
[quote=diamonddbw;6499847]Don't like to be a pain, but somehow missed SP's info on how he sets up for nfp.

A page, or general vicinity would be appreciated.

Hi Diamond, i believe post 80 gives info , regards
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,189
  • Mar 7, 2013 5:56pm Mar 7, 2013 5:56pm
[quote=billytt;6499898]
Quoting diamonddbw
Don't like to be a pain, but somehow missed SP's info on how he sets up for nfp.

A page, or general vicinity would be appreciated.

Hi Diamond, i believe post 80 gives info , regards
++++++++++++++++++++++++++++++++
Thanks BT. Checking now...
  • #1,190
  • Mar 7, 2013 7:53pm Mar 7, 2013 7:53pm
I can't find the post where I described the NFP strategy either. Here it is, very simple.

The report comes out at 08:30 eastern 13:30 GMT.
The fifteen minute bar from 13:30 to 13:45 is our focus.
If the next bar (13:45 to 14:00) is an inside bar take the breakout, either direction.
If the next bar is not an inside bar but breaks out take that trade, either direction.
This is a pure breakout method, no closes, no retrace entry.
Stops and targets are up to you and your risk tolerence.
I trade all big high impact news events this way.
I traded the ECB rate announcement this way today for thirty pips.

Good luck.
  • #1,191
  • Mar 7, 2013 8:03pm Mar 7, 2013 8:03pm
Quoting Seneca pilot
I can't find the post where I described the NFP strategy either. Here it is, very simple.

The report comes out at 08:30 eastern 13:30 GMT.
The fifteen minute bar from 13:30 to 13:45 is our focus.
If the next bar (13:45 to 14:00) is an inside bar take the breakout, either direction.
If the next bar is not an inside bar but breaks out take that trade, either direction.
This is a pure breakout method, no closes, no retrace entry.
Stops and targets are up to you and your risk tolerence.
I trade all big high impact news events this way.
I traded the...
Two chart examples. First chart is ECB decision today green lines are bracketing news announcement bar. Took breakout long. Second chart is NFP from Feb. It is a good illustration of the inside bar breakout.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: breakout today.gif Size: 15 KB
Click to Enlarge Name: nfp ib.gif Size: 19 KB
  • #1,192
  • Mar 7, 2013 8:09pm Mar 7, 2013 8:09pm
Quoting Seneca pilot
I can't find the post where I described the NFP strategy either. Here it is, very simple.

The report comes out at 08:30 eastern 13:30 GMT.
The fifteen minute bar from 13:30 to 13:45 is our focus.
If the next bar (13:45 to 14:00) is an inside bar take the breakout, either direction.
If the next bar is not an inside bar but breaks out take that trade, either direction.
This is a pure breakout method, no closes, no retrace entry.
Stops and targets are up to you and your risk tolerence.
I trade all big high impact news events this way.
I traded the...
Here is the trade 34.3 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: breakout today.gif Size: 15 KB
  • #1,193
  • Mar 7, 2013 9:07pm Mar 7, 2013 9:07pm
Quoting Seneca pilot
I can't find the post where I described the NFP strategy either. Here it is, very simple.

The report comes out at 08:30 eastern 13:30 GMT.
The fifteen minute bar from 13:30 to 13:45 is our focus.
If the next bar (13:45 to 14:00) is an inside bar take the breakout, either direction.
If the next bar is not an inside bar but breaks out take that trade, either direction.
This is a pure breakout method, no closes, no retrace entry.
Stops and targets are up to you and your risk tolerence.
I trade all big high impact news events this way.
I traded the...
++++++++++++++++++++++++

I appreciate the response.

Trading London is no easy feat for us here stateside. I'm lucky if I can stay up 2 nights in row. Each time I do, I see the set ups you're talking about.

I think billytt lives in UK. We should put him on notice to expect house guests in the near future. Will forward my menu requirements his way, so that he may prepare.
  • #1,194
  • Mar 7, 2013 9:10pm Mar 7, 2013 9:10pm
Quoting diamonddbw
++++++++++++++++++++++++

I appreciate the response.

Trading London is no easy feat for us here stateside. I'm lucky if I can stay up 2 nights in row. Each time I do, I see the set ups you're talking about.

I think billytt lives in UK. We should put him on notice to expect house guests in the near future. Will forward my menu requirements his way, so that he may prepare.
Lots of coffee
What is any ocean but a multitude of drops?
  • #1,195
  • Mar 7, 2013 9:42pm Mar 7, 2013 9:42pm
[quote=diamonddbw;6500183]++++++++++++++++++++++++

I appreciate the response.


I think billytt lives in UK. We should put him on notice to expect house guests in the near future. Will forward my menu requirements his way, so that he may prepare. [/quote

correct, i live on the south coast of uk. i mentioned to seneca about him moving here but like he said, Its too cold lol. Seriousl note, the less you trade the less you lose. So if it is difficult to trade the uk market when you do they have to be quality trades. Its all a matter of adapting the trading style
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,196
  • Mar 7, 2013 10:09pm Mar 7, 2013 10:09pm
[quote=billytt;6500219]
Quoting diamonddbw
++++++++++++++++++++++++

I appreciate the response.


I think billytt lives in UK. We should put him on notice to expect house guests in the near future. Will forward my menu requirements his way, so that he may prepare. [/quote

correct, i live on the south coast of uk. i mentioned to seneca about him moving here but like he said, Its too cold lol. Seriousl note, the less you trade the less you lose. So if it is difficult to trade the uk market when you do they have to be quality trades. Its all a matter of adapting...

Very much true. Know guys trading exclusively NY session 3-4 hours. Thats all. They all live on east coast of USA.

Asia is good for forex. In case one has a job still can trade NY session 8 or 9 pm start and if full time even better. Morning devoted to family, sport, errants and then afternoon London. After a dinner New York....
  • #1,197
  • Mar 8, 2013 12:29am Mar 8, 2013 12:29am
Quoting Seneca pilot
I can't find the post where I described the NFP strategy either. Here it is, very simple.

The report comes out at 08:30 eastern 13:30 GMT.
The fifteen minute bar from 13:30 to 13:45 is our focus.
If the next bar (13:45 to 14:00) is an inside bar take the breakout, either direction.
If the next bar is not an inside bar but breaks out take that trade, either direction.
This is a pure breakout method, no closes, no retrace entry.
Stops and targets are up to you and your risk tolerence.
I trade all big high impact news events this way.
I traded the...
I never had a strategy for this, i have been trading according to the reaction of momentum traders after 15 Min of announcement, but without knowledge of what was behind the move. But you mention it. So..for the Big News, do all the big players also follow Mr.DIBS. I guess not, that's why sometimes, we get spikes in either direction, which engulfs as many loosers as possible.
  • #1,198
  • Mar 8, 2013 1:20am Mar 8, 2013 1:20am
Quoting square1
I never had a strategy for this, i have been trading according to the reaction of momentum traders after 15 Min of announcement, but without knowledge of what was behind the move. But you mention it. So..for the Big News, do all the big players also follow Mr.DIBS. I guess not, that's why sometimes, we get spikes in either direction, which engulfs as many loosers as possible.
Anybody got a view on the Non Farm today? I'm long the EUR/USD and hoping for week numbers to give it a bit of a boost _
Stop or target...
  • #1,199
  • Mar 8, 2013 1:27am Mar 8, 2013 1:27am
[quote=square1;6500531]I never had a strategy for this, but without knowledge of what was behind the move. But you mention it. So..for the Big News,

something similar,i trade oil but i also have pc programmed to buy/sell spikes which at time can be brilliant. last year i had a 300+ pip spike in a matter of seconds then hit 200 on the retrace. no idea why it spiked and i dont care.
today is a bit scarey with the e/u
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,200
  • Mar 8, 2013 1:29am Mar 8, 2013 1:29am
[quote=billytt;6500671]
Quoting square1
I never had a strategy for this, but without knowledge of what was behind the move. But you mention it. So..for the Big News,

something similar,i trade oil but i also have pc programmed to buy/sell spikes which at time can be brilliant. last year i had a 300+ pip spike in a matter of seconds then hit 200 on the retrace. no idea why it spiked and i dont care.
today is a bit scarey with the e/u
Interesting... Does it make money over all?
Stop or target...
3 traders viewing now