Trading For Those With a 9-5 Job | Page 194 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading For Those Who Have A Day Job 28 replies

Trading For Those Who Have A Day Job 0 replies

For those of you who ARE trading the Yen... 9 replies

Start Trading: Throw Those Excuses Out the Window 0 replies

Attachments: Trading For Those With a 9-5 Job
Exit Attachments

Trading For Those With a 9-5 Job

  • #3,861
  • Apr 9, 2014 12:27am Apr 9, 2014 12:27am
Quoting srt
Nat. Gas: I'm not watching charts during the day right now...
End of day analysis is the path of choice for 9-5ers. Its what I do daily. Sometimes I also have a quick glance as I walk out in the morning. Lunchtime at work I could steal a view of the markets but cant really do anything concrete.

I agree with your corn Idea. Soybeans should also be heading towards 1550. Soybean oil is the weakest in the 'grains' imho. Will try and put up charts later. Thanks for your posts. Top notch posts

Olu
If you think you can or cannot do it you are correct
  • #3,862
  • Apr 9, 2014 6:20am Apr 9, 2014 6:20am
Coffee
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Coffee-daily-09042014-1418uk.JPG Size: 50 KB
Click to Enlarge Name: RobustaCoffee-daily-09042014-1425uk.JPG Size: 52 KB
If you think you can or cannot do it you are correct
  • #3,863
  • Apr 9, 2014 5:56pm Apr 9, 2014 5:56pm
USDA report:

CORN-bullish
SOYBEANS-bullish
WHEAT-bearish

Initial reaction was just as should be but then reversed after a spike. Just an excuse to take profits after a pretty good rally recently. I remain bullish mostly on CORN. Even though the wheat report wasn't very good, I wouldn't look to short it. If wheat prices get too low then corn usage for livestock gets replaced with wheat so they have a tendency to trade with some correlation. I'm pretty bullish on the entire grain sector. I'll be looking to add to CORN if we get more of a pullback. I feel it has the best potential reward with the lowest risk. If the weather isn't good this spring/summer, many will be surprised how quickly the supply/demand picture will change.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: US Corn(Hourly)20140409204027.png Size: 50 KB
Click to Enlarge Name: US Soybeans(Hourly)20140409204224.png Size: 49 KB
Click to Enlarge Name: US Wheat(Hourly)20140409204445.png Size: 50 KB
  • #3,864
  • Apr 10, 2014 12:23am Apr 10, 2014 12:23am
Quoting srt
USDA report: CORN-bullish SOYBEANS-bullish WHEAT-bearish Initial reaction was just as should be but then reversed after a spike. Just an excuse to take profits after a pretty good rally recently. I remain bullish mostly on CORN. Even though the wheat report wasn't very good, I wouldn't look to short it. If wheat prices get too low then corn usage for livestock gets replaced with wheat so they have a tendency to trade with some correlation. I'm pretty bullish on the entire grain sector. I'll be looking to add to CORN if we get more of a pullback....

Thanks for the charts Srt. It seems the grains are topping on the charts imho. However the only thing keeping me from selling is the weather impact which more or less happens every year. I also agree wheat is the weakest but the downside could be limited if all the others are going up - except if it is actively spreaded by the big boys. I will wait till this weekend when I will be able to look at it more indepth and post my thoughts

Thanks

Olu
If you think you can or cannot do it you are correct
  • #3,865
  • Apr 10, 2014 12:28am Apr 10, 2014 12:28am
Quoting srt
report:
Srt

Check out what coffee did yesterday...gap down on the open then a massive rally to close up on the day. The old high is nearby now and my idea is on the verge of being thown out

Olu
If you think you can or cannot do it you are correct
  • #3,866
  • Apr 10, 2014 4:53am Apr 10, 2014 4:53am
Quoting Olu
{quote} Srt Check out what coffee did yesterday...gap down on the open then a massive rally to close up on the day. The old high is nearby now and my idea is on the verge of being thown out Olu
Yes, Olu.
The move lower appears to be just a retracement after the VERY strong move higher.
  • #3,867
  • Apr 10, 2014 4:56am Apr 10, 2014 4:56am
Quoting Olu
{quote} Thanks for the charts Srt. It seems the grains are topping on the charts imho. However the only thing keeping me from selling is the weather impact which more or less happens every year. I also agree wheat is the weakest but the downside could be limited if all the others are going up - except if it is actively spreaded by the big boys. I will wait till this weekend when I will be able to look at it more indepth and post my thoughts Thanks Olu
I know the charts appear to have "pinbars" signaling a top but I'm going to wait for the pullbacks to buy. Similar to cocoa where the fundamentals were strong so very difficult trying to pick a top though the grain fundamentals aren't quite that bullish "yet" but I feel we're headed more in that direction. Weather is the big wildcard in the coming months.
  • #3,868
  • Apr 10, 2014 6:37am Apr 10, 2014 6:37am
Quoting srt
{quote} I know the charts appear to have "pinbars" signaling a top but I'm going to wait for the pullbacks to buy. Similar to cocoa where the fundamentals were strong so very difficult trying to pick a top though the grain fundamentals aren't quite that bullish "yet" but I feel we're headed more in that direction. Weather is the big wildcard in the coming months.

You are right Srt. It is all about weather in a lot of commodities in the next 3 months. There are always weather scares all over the place. As a trend trader I am finding it a bit difficult as these trends do not stay true and wild swings as well all over the place

Cocoa chart is below

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: MayCocoa-daily-10042014-1427uk.JPG Size: 49 KB
If you think you can or cannot do it you are correct
  • #3,869
  • Apr 10, 2014 6:43am Apr 10, 2014 6:43am
Hi Guys, apologies for my absence.
Just thought I'd say something about my experience with the investing.com charts: you've got to be a little careful using them because I think they are continuous contract charts (well I suppose they would have to be - there's no other way to do it duh). Certainly there can be large gaps in them that correspond to when they roll from one futures contract's data to the next contract's data. They may do that the Monday of the last week of trading of a contract; not sure. If there is very little spread between the 2 adjacent contracts then this will not be easily noticeable on the chart but sometimes there is. This makes drawing trendlines a little problematic because they can be misleading.
E.g. it's better to draw longer term trendlines using SPX rather than a continuous contract ES chart from investing.com. Also it's bad to draw short term trendlines that cross 2 adjacent futures contracts that were in noticeable contango or backwardation at rollover.
I am trading May NG and the chart from my broker (IB) is different to the chart on investing.com and has proven to be a reliable basis for my trades.
Apologies if you know this already (you are smart guys so you probably do )
I have no clue what I'm talking about.
  • #3,870
  • Apr 10, 2014 6:55am Apr 10, 2014 6:55am
Lean Hogs
Attached Image (click to enlarge)
Click to Enlarge Name: LeanHogs-daily-10042014-1445uk.JPG Size: 61 KB
If you think you can or cannot do it you are correct
  • #3,871
  • Apr 10, 2014 6:55am Apr 10, 2014 6:55am
SPX FTSE spread in prior bubbles. The spread got a very wide in prior bubbles it's gone quite mental this time around.
Long FTSE short SPX might be one play, but FTSE is just flat it seems whilst SPX keeps ramping higher. So the SPX short leg would hurt quite a bit.
Or short FTSE puts short SPX maybe? At least the short FTSE puts would bring in an income covering some of the SPX pain.
Or how about... short FTSE puts financing long SPX calls with a short SPX? Yes, that might work...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB
I have no clue what I'm talking about.
  • #3,872
  • Apr 10, 2014 6:56am Apr 10, 2014 6:56am
Hi BW

Just to let you know I am enjoying your posts all over the forums

Olu
If you think you can or cannot do it you are correct
  • #3,873
  • Apr 10, 2014 7:12am Apr 10, 2014 7:12am
Quoting Olu
Hi BW Just to let you know I am enjoying your posts all over the forums Olu
Hi Olu
You are far too kind Sir, I talk lots of rubbish but with fancy words

Been watching FTSE. Always fascinates me as to whether it's leading (in time), lagging (in time), or just doing it's own thang (mostly it's the latter I think).
Of course the question on everybody's mind (apart from what happened to MH370) is whether we will get an April rally this year.
Currently we probably have an amber on the FTSE - the chart (synthetic ftse futures prices I think) shows price back above main averages most importantly of course the 200. Also we see what looks like a 3 day reversal. But I'd like to see price close convincingly above the green candle pointed to.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 158 KB
I have no clue what I'm talking about.
  • #3,874
  • Apr 10, 2014 7:23am Apr 10, 2014 7:23am
Natural Gas.
I'm wondering if we're going to see either a measured move based on the break of the parallel channel, or, a move to the top of the wedge.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 249 KB
I have no clue what I'm talking about.
  • #3,875
  • Apr 10, 2014 10:02am Apr 10, 2014 10:02am
Quoting Boy Wonder
{quote}Currently we probably have an amber on the FTSE - the chart (synthetic ftse utures prices I think) shows price back above main averages most importantly of course the 200.
You said it. FTSE and all the other indices are living on borrowed time. It can still go up though as Yellen is blowing hot and cold on tapering. As long as there is no extra tapering prices can go up

Olu
If you think you can or cannot do it you are correct
  • #3,876
  • Apr 10, 2014 10:14am Apr 10, 2014 10:14am
UsdJpy

If the stock markets keep going down then this scenario is a distinct possibility

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #3,877
  • Apr 10, 2014 1:39pm Apr 10, 2014 1:39pm
Quoting Olu
{quote} You are right Srt. It is all about weather in a lot of commodities in the next 3 months. There are always weather scares all over the place. As a trend trader I am finding it a bit difficult as these trends do not stay true and wild swings as well all over the place Cocoa chart is below Olu {image}
Yes, another reason my favorite of the grains is CORN. It's trading a bit better in an uptrend currently. It held up well today compared to beans & wheat. Holding up means I don't get to add :-(
  • #3,878
  • Apr 10, 2014 1:43pm Apr 10, 2014 1:43pm
Quoting Boy Wonder
Hi Guys, apologies for my absence. Just thought I'd say something about my experience with the investing.com charts: you've got to be a little careful using them because I think they are continuous contract charts (well I suppose they would have to be - there's no other way to do it duh). Certainly there can be large gaps in them that correspond to when they roll from one futures contract's data to the next contract's data. They may do that the Monday of the last week of trading of a contract; not sure. If there is very little spread between the...
Yes, I'm aware of the issue when the contracts roll. That's why my nat. gas chart has a large gap down a while back. I rarely use trendlines as I mainly focus on horizontal levels (prices).
  • #3,879
  • Apr 10, 2014 1:46pm Apr 10, 2014 1:46pm
Quoting Boy Wonder
Natural Gas. I'm wondering if we're going to see either a measured move based on the break of the parallel channel, or, a move to the top of the wedge. {image}
I remain bullish but my last position hit target today so have a pending order to get right back in on a pullback. I'll continue to be a buyer until the fundamentals change. A good inventory report today gave it a boost.
  • #3,880
  • Apr 10, 2014 1:59pm Apr 10, 2014 1:59pm
UsdCad

Sometimes the best signal is a failed signal the other way. Is this one of them?

Olu
Attached Image
If you think you can or cannot do it you are correct
3 traders viewing now