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Gordon Gekko's real-time Forex trading calls

  • #221
  • Mar 22, 2015 1:55pm Mar 22, 2015 1:55pm
Quoting EarnPipsNow
{quote} I used to day-trade the S&P500 e-mini (the most liquid futures contract in the world) with a modified opening range breakout system. {quote} There are of course a few interesting correlations between certain commodities and currencies: The CAD is highly correlated to the price of oil. And the Aussie to gold. For example when the price of crude oil goes down, the Canadian dollar (versus USD and other currencies) usually takes a beating.
Well - naturally I meant Gold . Though Allan Grinspan named it derogatory "ancient relic" many people argue that in Parallel to being a commodity
it is in fact a competing currency. It seems reasonable enough.

Anyways, Recently i have been intently eyeing NOK as a closest proxy of oil. Closer then CAD.
It does have anti-oil bouts periodically but seems veeery oil-following. Oil is Relatively predictable RECENTLY - sooo NOK is a non-holy, yet "grail"
for a time ..., or is it ?

How often did you have a look at NOK recently ? And at gold ?
Siddhartha G
  • #222
  • Mar 22, 2015 2:10pm Mar 22, 2015 2:10pm
Quoting Isingh
How often did you have a look at NOK recently ? And at gold ?
Quite frankly not that much, I follow 28 currency pairs on 3 different time frame each day (yes, that 84 charts at the same time!) and believe me that's already plenty
Gold yes, I do follow its price from time to time, not for speculative purposes but only because I own a few gold coins.
Each losing trade is an opportunity to learn
  • #223
  • Mar 22, 2015 2:12pm Mar 22, 2015 2:12pm
Quoting EarnPipsNow
{quote} Quite frankly not that much, I follow 28 currency pairs on 3 different time frame each day (yes, that 84 charts at the same time!) and believe me that's already plenty Gold yes, I do follow its price from time to time, but only because I own a few gold coins, not for speculative purposes.
What are the more "esoteric" currencies among that set ? I mean more obscure than NZD.
Siddhartha G
  • #224
  • Mar 22, 2015 2:16pm Mar 22, 2015 2:16pm
Quoting Isingh
{quote} What are the more "esoteric" currencies among that set ? I mean more obscure than NZD.
None. Here are the currencies I am following: USD, EUR, JPY, GBP, AUD, CHF, CAD, NZD (there are exactly 28 possible combinations with these 8 currencies).
Each losing trade is an opportunity to learn
  • #225
  • Mar 22, 2015 2:47pm Mar 22, 2015 2:47pm
Quoting EarnPipsNow
{quote} None. Here are the currencies I am following: USD, EUR, JPY, GBP, AUD, CHF, CAD, NZD (there are exactly 28 possible combinations with these 8 currencies).
Have to admit, CAD always seems to me very hard to trade. It seems the central bank there takes great pains to make it spikes all-over. (or whomever)
I have never seen anything so much advancing in spikes.
Siddhartha G
  • #226
  • Mar 22, 2015 2:56pm Mar 22, 2015 2:56pm
Quoting Isingh
{quote} Have to admit, CAD always seems to me very hard to trade. It seems the central bank there takes great pains to make it spikes all-over. (or whomever) I have never seen anything so much advancing in spikes.
True, the USD/CAD is very hard to trade and its movements are erratic most of the time.
Each losing trade is an opportunity to learn
  • #227
  • Mar 22, 2015 2:59pm Mar 22, 2015 2:59pm
Quoting EarnPipsNow
{quote} True, the USD/CAD is very hard to trade and its movements are erratic most of the time.
So - are you (you) giving it a larger SL ? And are you observing its motion, when you have a position, with same Olympian serenity as the rest of'em ?
Siddhartha G
  • #228
  • Mar 22, 2015 3:00pm Mar 22, 2015 3:00pm
Alright, let's get busy now and see if we can grab a few pips in the Asian session...
Each losing trade is an opportunity to learn
  • #229
  • Mar 22, 2015 3:06pm Mar 22, 2015 3:06pm
Quoting Isingh
{quote} So - are you (you) giving it a larger SL ? And are you observing its motion, when you have a position, with same Olympian serenity as the rest of'em ?
My system automatically follows market's volatility and all stops are adjusted accordingly, regardless of market condition.
Each losing trade is an opportunity to learn
  • #230
  • Mar 22, 2015 3:12pm Mar 22, 2015 3:12pm
Quoting EarnPipsNow
Alright, let's get busy now and see if we can grab a few pips in the Asian session...
Something I have to tell. But later.
Siddhartha G
  • #231
  • Edited 4:17pm Mar 22, 2015 3:59pm | Edited 4:17pm
gap ?? Euro has some grexit imminent - and it gaps Up...
Siddhartha G
  • #232
  • Mar 22, 2015 4:27pm Mar 22, 2015 4:27pm
Quoting Isingh
gap ?? Euro has some grexit imminent - and it gaps Up...
On Sundays, don't pay too much attention to the first few hours of "trading", it's just noise and most of the time the Forex dealers are just playing games, err.... I mean they are just busy "adjusting" their book.

"Real" trading begins around 7PM, NY time...
Each losing trade is an opportunity to learn
  • #233
  • Mar 22, 2015 4:53pm Mar 22, 2015 4:53pm
It's my personal opinion that the EUR/USD could go as high as 1.0950 (today or tomorrow) and then it would drop like a stone...

Just my opinion though, currently I have no clear trading signal on the Euro (or on any other currency for that matter) and I never trade on hunches and feelings.
Each losing trade is an opportunity to learn
  • #234
  • Mar 22, 2015 6:28pm Mar 22, 2015 6:28pm
trading and posting is hard otherwise we could have turned it into a trading room and see who has the most profitable strategy.
  • #235
  • Mar 22, 2015 6:38pm Mar 22, 2015 6:38pm
Quoting goldfinger
trading and posting is hard
No really, it all depends on your time frame.

If you are using the 1 or 4 hour chart for example, it would take hours to trigger your limit or stop order. This should give you plenty of time to post.

Of course if you are scalping the market all day, that's a different story.
Each losing trade is an opportunity to learn
  • #236
  • Mar 22, 2015 7:30pm Mar 22, 2015 7:30pm
I have one problem. I want better price than rest of the traders so I always buy and sell with limit orders. I do miss the boat big time. I dont know how to solve this problem. Any advice.
thanks

Gordon-I do trade intraday set ups so I probably should call myself a scalper.
  • #237
  • Mar 22, 2015 7:36pm Mar 22, 2015 7:36pm
Quoting Isingh
gap ?? Euro has some grexit imminent - and it gaps Up...
Sorder Ji- What kind of trader r u, scalper , position trader? Which instruments do u trade? Post your trade if possible .
  • #238
  • Mar 22, 2015 8:05pm Mar 22, 2015 8:05pm
short nu .75668 sl 30 tp 60
  • #239
  • Mar 22, 2015 8:06pm Mar 22, 2015 8:06pm
ul sell limit 120.000 sl 30 tp 100
  • #240
  • Mar 22, 2015 8:15pm Mar 22, 2015 8:15pm
nu tp got hit
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