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  • #857,901
  • Nov 28, 2013 5:58am Nov 28, 2013 5:58am
Quoting Ck87
Today supposed to be a very quiet day with US bank holiday?
Quoting Tom_D_Trader
Biggest floating loss I ve been able to chew was two years ago on Veteran Friday, where I ve been shorting Euro, and during hollidays, it was heavy buy and I got 7% in loss and was pretty close to heartattack. Funny thing, market reversed whole move on Monday and it was my best trade from that account. Sometimes market really plays with me.
So lets say no.
"I know one thing, that I know nothing." Sokrates
  • #857,902
  • Nov 28, 2013 5:59am Nov 28, 2013 5:59am
Quoting Tom_D_Trader
{quote} {quote} So lets say no.

7% your biggest loss, you must be doing pretty well then
  • #857,903
  • Nov 28, 2013 6:03am Nov 28, 2013 6:03am
Time for AU to fail under the previous highs and get sent down 40 pips to 9290 please

Cmon trends, don't fail me now.
  • #857,904
  • Nov 28, 2013 6:06am Nov 28, 2013 6:06am
Quoting bennyblanco
{quote} Start of the week I bought a 1 week 1.3650 call and a 1.3350 put with IG, because they were both far away from the current price they where very cheap. But if you get a decent trend then it'll pay off, you can settle the option at any time before the expiry. IG also do 2 week, 3 week & quarterly. I think I need to look at 2 & 3 week tbf, also could consider paying a higher price and doing a straddle. But I'm still playing at the moment, in hindsight doing it on eurusd in a thin week with not much news was prob not the best idea, although...

For such short term, it is better to trade the FX contract itself mate, I mean if you are trading the probability of reaching a level before reaching another level you have in your trading plan.

IG is pretty compatitive with their pricing but as expected, the value of the option depreciates faster in the last few days it is being traded, that is how your broker makes his Money. So if you were to estimate the values of the components of the option price:

- Vega ( very important when the expiry is far away)
- Delta (of course it is important, the price has to show some movement to your direction)
- Gamma ( I believe it is at least as important as the delta itself, it is the speed of the underlying price movement, the faster it is the more valuable the option becomes)
- Theta ( That gets extremely important last few days before the expiry if it is not deep in the Money or deep out of the Money, that is why you are at the moment worried actually)

I rarely trade options right now since it is actually an insurance on my profit or a hedge for my losses I make in the market. My opinion is; if you already have a target and game plan, you need to trade the FX contract itself if you are able to monitor the market on a daily basis of course. If you can not then trade options with large expiry.
  • #857,905
  • Nov 28, 2013 6:08am Nov 28, 2013 6:08am
I 'heart' trends.
  • #857,906
  • Nov 28, 2013 6:08am Nov 28, 2013 6:08am
Quoting Ck87
7% your biggest loss, you must be doing pretty well then
Biggest loss from single trade. I ve already had 100% account loss, but that was 2008. When you got set 2% as max loss limit from one trade, it is definitely not good going to 7% in loss against your trading plan. Its just I really didnt trust the move. I dont plan to do such action in any near future and always set fixed SL, as this was such a bad experience, I never want it to happen again.
Otherwise, well yeah, am doing fine, I couldnt be sitting here bugging you all day if I did not . But this month is pain, lot of pain. And I missed that facking UJ, now would have doubled, blah blah blah, was loading for a month and got kicked out during ECB ratecut spike, which was last correction down. So right now not great exactly, but I still can bug you for a while more .
"I know one thing, that I know nothing." Sokrates
  • #857,907
  • Nov 28, 2013 6:13am Nov 28, 2013 6:13am
Yeah, missing UJ is annoying, also Aussie sell off though, actually even more annoying, especially if you're sitting here shorting EU and GU like I was (when knowing aussie was the weakest) DOH!!!

You live you learn.

STICK TO THE TRENDING PAIRS DAMNIT! Unless you want more stress and more losses, that is
  • #857,908
  • Nov 28, 2013 6:13am Nov 28, 2013 6:13am
Quoting afos
{quote} Math GB how does pricing form a broker compare to something like the IG platforms offering. Can you direct me to a comparable broker service you recommend? ta

Well the only true check would be to calculate the implied vol. It is very easy to calculate it if you are Excel user.

Take a few options, one at the money, a few out of the money and a few in the money ( You need to use the same expiry and the options should be listed options not OTC) Use impvol on your excel and it will give you the implied vol of the at the Money option. Then take that imp vol and see what your broker is offering and see if it is expensive or not.

There are various brokers that offer different prices and actually I traded a lot in the past using different exchanges options such as Stuttgart Boerse vs. Eurex and/or CME/CBOT..

Benny's broker IG is a very competitive one if you are not trading large sizes. Unfortunately can't recommend any broker.
  • #857,909
  • Nov 28, 2013 6:30am Nov 28, 2013 6:30am
Quoting veer2010
Some clever people are running through stop losses.. market is a bitch..so be careful when you trade..
So be SOB
  • #857,910
  • Nov 28, 2013 6:35am Nov 28, 2013 6:35am
Last year on thankgiving day USD went weak

so we may expect eur usd rise to 3665-75 levels

and gbp usd to 6380 levels

my level to short will be there else market is market

safe trading to all

The Phoenix Trader....
  • #857,911
  • Nov 28, 2013 6:37am Nov 28, 2013 6:37am
Do most people in this thread just trade the Euro/Dollar exclusively? or do you trade other pairs as well? I'm thinking of really cutting back on my pairs and sticking to just one or two.
  • #857,912
  • Nov 28, 2013 6:38am Nov 28, 2013 6:38am
Quoting Ck87
Time for AU to fail under the previous highs and get sent down 40 pips to 9290 please Cmon trends, don't fail me now.
If you short and hold might get .90772 by EOD

Minor support around .9120
  • #857,913
  • Nov 28, 2013 6:38am Nov 28, 2013 6:38am
Quoting sunilpawar
Last year on thankgiving day USD went weak so we may expect eur usd rise to 3665-75 levels and gbp usd to 6380 levels my level to short will be there else market is market safe trading to all
I don't think its about Thanksgiving or not, it's about where is the dollar at the moment

Check Thanksgiving historically....some year dollars went weak, sometimes strong... or very strong check 2009
COT: The precious data ignored
  • #857,914
  • Nov 28, 2013 6:40am Nov 28, 2013 6:40am
What about the German cpi yy mm, it is in 20 min from now, but on the ff calendar nothing about it. Maybe I'm just confused
  • #857,915
  • Nov 28, 2013 6:41am Nov 28, 2013 6:41am
Quoting ReyesWhite
Do most people in this thread just trade the Euro/Dollar exclusively? or do you trade other pairs as well? I'm thinking of really cutting back on my pairs and sticking to just one or two.
EU is the only forex pair I really trade (unless I'm bored...or unless I'm after long term holdings). Still checking out some others for correlations though. Most of my trades are oil, gold and CFDs at the moment.
  • #857,916
  • Nov 28, 2013 6:41am Nov 28, 2013 6:41am
Quoting ReyesWhite
Do most people in this thread just trade the Euro/Dollar exclusively? or do you trade other pairs as well? I'm thinking of really cutting back on my pairs and sticking to just one or two.

I'll trade anything that moves, including crude oil and gold. The main thing for me is: is it trending?

If something is all over the place (i.e. EU and GU lately, although GU is more of an uptrend and should be sticking to buying it) then it's not really worth my time.

So you have the Yen, Aussie, Gold/silver, Oil weakness trends

GBP strength trend

Some people only stick to 1 pair and they do it very well, and they know how to stay away from that pair when it's not trending well. Have tons of respect for those people. But for me there's tons of different pairs and markets and there will always be something that is trending, and that is what I will focus on from now on. Don't know how I didn't focus on this forever, but I guess that's part of my evolution as a trader
  • #857,917
  • Nov 28, 2013 6:42am Nov 28, 2013 6:42am
Expecting renewed selling interest to cap the current upside squeeze in the 1.3630-1.3650 area. Keep your stops tight.
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  • #857,918
  • Nov 28, 2013 6:44am Nov 28, 2013 6:44am
Quoting Ken A
{quote} If you short and hold might get .90772 by EOD Minor support around .9120

I'm looking for the .9093 CPP to get hit, but I'm not even sure it'll get that far on this sell off move.

Though H1 momentum looking pretty compelling...
  • #857,919
  • Nov 28, 2013 6:45am Nov 28, 2013 6:45am
1.35927 is currently the magic number. the 1hr bar has to close above it for the bulls to get the signal to come onboard for a new top!!
  • #857,920
  • Nov 28, 2013 6:47am Nov 28, 2013 6:47am
Quoting kuroro001
{quote} I don't think its about Thanksgiving or not, it's about where is the dollar at the moment Check Thanksgiving historically....some year dollars went weak, sometimes strong... or very strong check 2009
agreed
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
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