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  • #821
  • Oct 7, 2013 2:56am Oct 7, 2013 2:56am
Long 20-minutes call @ 7. Strike 1.60464. Expiry 9:00 London time. Half of the positon closed @17
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  • #822
  • Oct 7, 2013 2:58am Oct 7, 2013 2:58am
The price is currently 90, but my initial strategy was to cover the costs and leave the rest until the expiry.
  • #823
  • Oct 7, 2013 3:01am Oct 7, 2013 3:01am
Quoting srmfx
The price is currently 90, but my initial strategy was to cover the costs and leave the rest until the expiry.
GBP/USD settles at 1.60475
  • #824
  • Oct 7, 2013 3:05am Oct 7, 2013 3:05am
You could trade the same set up (test of 200 EMA) with a spot position at 1.6041 and initial stop at 1.6033. You can compare this with the options position and make the conclusions.
  • #825
  • Oct 7, 2013 3:25am Oct 7, 2013 3:25am
GBP/USD is performing just great today. Unfortunately I understated this and missed another good entry. STE at 20 EMA at 9:06 London time. This could be traded with a 20 minutes Ladder or even with e spot position. Waiting for the next pullback.
  • #826
  • Oct 8, 2013 1:07am Oct 8, 2013 1:07am
Classic STE. Stop 3p. Only spot positon.
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  • #827
  • Oct 8, 2013 1:13am Oct 8, 2013 1:13am
Stop @ BE
  • #828
  • Oct 8, 2013 1:30am Oct 8, 2013 1:30am
Last part stopped at BE. Last few days volatility is depressed further. Binaries provide better trading opportunities, but in this case no expiries were available.
  • #829
  • Oct 8, 2013 2:02am Oct 8, 2013 2:02am
Quoting mmaker
Where can I find information about the options and binaries that you referred to? Sorry I haven't searched your thread if you already posted. Please private message me the broker you use for such instruments. Thanks.
I'll make short video about the options basics. There is a misunderstandig of the options trading and in particular about the binaries. Probably if I wasn't risk manager I would never know taht much about options.
  • #830
  • Oct 8, 2013 2:03am Oct 8, 2013 2:03am
An attempt to capture the first leg after the London open. Position was open in two parts. Stop is 5.5 pips (the spread of GBP/USD is a little bit larger).
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.png Size: 19 KB
  • #831
  • Oct 8, 2013 2:10am Oct 8, 2013 2:10am
Quoting srmfx
An attempt to capture the first leg after the London open. Position was open in two parts. Stop is 5.5 pips (the spread of GBP/USD is a little bit larger). {image}

Stopped.
  • #832
  • Oct 8, 2013 2:19am Oct 8, 2013 2:19am
Long binary call @ 10.7. Strike 1.60767, expiry 8:20 London time. Half of the position closed at 29
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  • #833
  • Oct 8, 2013 2:23am Oct 8, 2013 2:23am
Quoting mmaker
{quote} I took some (paid) courses years ago on put/call options and spread trading, but that was applied to stocks. I haven't really explored binary options and had a bad experience with Banc De Binary, whose sales people kept calling my phone every couple months. I'm sure you meant binary options, so for that I'm very new to it.
You have to choose very carefully your broker for binary options. Most people treat the binary options as a type of gambling. Actually the professional poker players are one of the most disciplined peopel in the world. They also apply very strict money management. You can trade almost every trading strategy with binaries.
  • #834
  • Oct 8, 2013 3:39am Oct 8, 2013 3:39am
Quoting mmaker
The average daily range for major pairs has been rather tight the past two days, making it difficult to swing for larger targets. Very difficult for me to put in a trade ..... testing patience. That's why I came to your thread because as you said, binary options might be a better way to handle such a market situation. (e.g. EURUSD daily range is only 24.0pips so far, while only 17.7pips since European open). {image}
Where did you get the average range for currency pairs? Is this thru your broker platform, if so what platform? Just wondering, looks very neat. Much appreciated.
  • #835
  • Oct 8, 2013 3:46am Oct 8, 2013 3:46am
Volatility is cylclical. Long binary call with strike 1.35674 and expiry 9:40 (London) @ 19.8. Half of the positon closed at 51 the rest expired out-of-money. Some kind of put could be bought for downside protection.
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Click to Enlarge Name: EURUSDM1.png Size: 18 KB
  • #836
  • Oct 8, 2013 3:49am Oct 8, 2013 3:49am
Quoting mmaker
The average daily range for major pairs has been rather tight the past two days, making it difficult to swing for larger targets. Very difficult for me to put in a trade ..... testing patience. That's why I came to your thread because as you said, binary options might be a better way to handle such a market situation. (e.g. EURUSD daily range is only 24.0pips so far, while only 17.7pips since European open). {image}
Interesting. My students are usually surprised when I talk about the daily range. They never think if it is statistically possible to make 50 or 60 pips per day. How can you trade with a 20 or 30 pips stop a currency pair with ATR of 70 pips and low standard deviation? The option provide you with leverage to overcame the low volatility.
  • #837
  • Oct 8, 2013 4:07am Oct 8, 2013 4:07am
Quoting DrNoStopLoss
{quote} Where did you get the average range for currency pairs? Is this thru your broker platform, if so what platform? Just wondering, looks very neat. Much appreciated.
http://www.forexticket.com/en/tools/02-01-volatility
  • #838
  • Edited 4:22am Oct 8, 2013 4:09am | Edited 4:22am
Quoting mmaker
{quote} It's just a simple calculation subtracting the High and Low for each pair. I use TradeStation broker/platform and using the RadarScreen tool these readings can be displayed like a spreadsheet table, dynamically sorted. For MT4 you just use an indicator for each pair one at a time. For me I grouped the 6 pairs I actively traded together, and the other cross-pairs grouped and sorted...

Awesome, thanks. What are the 2 ranges? Is one a 2 day range, and the other the current range. Many thanks for your help. I'm looking for a indicator, I'll post the link to my question below.


http://www.forexfactory.com/showthre...02#post7011902
  • #839
  • Oct 8, 2013 4:11am Oct 8, 2013 4:11am
Quoting srmfx
{quote} http://www.forexticket.com/en/tools/02-01-volatility
Many thanks smfz, I current use this, but looking for something a little more sophisticated.
  • #840
  • Oct 8, 2013 10:52am Oct 8, 2013 10:52am
This is a pretty scary picture. I hope someone in Washington will stop playing games. Very dangerous games. Don't expect normal trading conditions.
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