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Brexit Trading of Euro and Pound

  • #41
  • Jun 14, 2016 6:50am Jun 14, 2016 6:50am
Quoting jen101
{quote} I'm with Vipro Markets. I think most brokers will do something similar. Euro pairs are reduced to 100:1 which isn't too bad. I'm wondering about trading USDCHF next week - haven't looked at that for a long time. Any suggestions? How does your EA work?

Jen,

Just attach to GBP USD, it initially opens a buy order .01 lot and after that based on that pip interval input 20pips it takes order on the same direction or opposite direction recursively just following the price action if there is free fall of 200pips u can expect 20pips x 10sell orders showing up in the direction of market...

Also I have other parameters like secure sl and basket dollars - secure sl will secure if any order is over 45pip (it secures 30pip on that and basket dollar will keep clearing all the open trades if specific total profit reached).

I can customize any further based on feedback. thanks!

Example : lets say u attached the ea to GBPUSD when it was 1.4328 (yday high)

initial order 0.01 buy 1.4328

next orders 0.01 sell 1.4308

.01 sell 1.4298

.01 sell 1.4278 and so on... just following the price action some orders will secure SL based on setting or it will clear all open trades when the desired dollar profit reachd
Scoobi doobi doo
  • #42
  • Jun 14, 2016 6:57am Jun 14, 2016 6:57am
Quoting Scoobidoobi
{quote} Jen, Just attach to GBP USD, it initially opens a buy order .01 lot and after that based on that pip interval input 20pips it takes order on the same direction or opposite direction recursively just following the price action if there is free fall of 200pips u can expect 20pips x 10sell orders showing up in the direction of market... Also I have other parameters like secure sl and basket dollars - secure sl will secure if any order is over 45pip (it secures 30pip on that and basket dollar will keep clearing all the open trades if specific...
Ah, so it's just pyramiding your trade? Useful, thanks!
  • #43
  • Jun 14, 2016 7:02am Jun 14, 2016 7:02am
Quoting jen101
{quote} Ah, so it's just pyramiding your trade? Useful, thanks!
Its price follower not martingale or grid will be quite handy tool to make pips in such volatile times
Scoobi doobi doo
  • #44
  • Edited 1:33pm Jun 14, 2016 7:34am | Edited 1:33pm
these are my bets, as long as the rates are achieved
if the mark for deal 7 and 8 is reached they remain open for some days
Attached Image (click to enlarge)
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  • #45
  • Jun 14, 2016 7:38am Jun 14, 2016 7:38am
Quoting Scoobidoobi
{quote} Its price follower not martingale or grid will be quite handy tool to make pips in such volatile times
Just an idea though, have you thought of incorporating a way to pyramid on pullbacks? Using fibs or MA's? Or low volume times? Because you really don't want to be jumping on the train when it is going at full throttle... Anyway, that's just how I trade.
  • #46
  • Jun 14, 2016 9:55am Jun 14, 2016 9:55am
Quoting Isabella_D
these are my bets, as long as the rates are achieved if the mark for deal 7 and 8 is reached they remain open for some days {image}

Nice one isabella, can you illustrate more on your strategy for GBPUSD . would you trade on brexit day also?
Scoobi doobi doo
  • #47
  • Jun 14, 2016 9:57am Jun 14, 2016 9:57am
Quoting jen101
{quote} Just an idea though, have you thought of incorporating a way to pyramid on pullbacks? Using fibs or MA's? Or low volume times? Because you really don't want to be jumping on the train when it is going at full throttle... Anyway, that's just how I trade.
good one jen, what MA's you use 100/200MA?
Scoobi doobi doo
  • #48
  • Jun 14, 2016 10:13am Jun 14, 2016 10:13am
Quoting Scoobidoobi
{quote} good one jen, what MA's you use 100/200MA?
I prefer to use fibs and S/R, but sometimes when the market is really shifting, you don't get much of a pullback, so I resort to MA's. I use 8/21 EMA. At least that gets me a few more signals.
  • #49
  • Jun 14, 2016 11:40am Jun 14, 2016 11:40am
Quoting Scoobidoobi
{quote} Nice one isabella, can you illustrate more on your strategy for GBPUSD . would you trade on brexit day also?
Sheet #45; table includes all my pending orders GBPUSD which I ordered today. For instance pending deal No1 should start long @1.4040 tp 1.4494.
I plan to keep the trades until referendum and longer if it makes sence. Hope so that distance between entry and tp is enough for slippage

For the case that deal No 7 and / or No 8 are triggered, these deal remain open some day (without tp)
Charts for longer tf I use: M, W, D
Intraday: D-orientation, H4, M30, M5, M1

Indis: HeikinAshi, ZigZag, SMA 8/12, Linear Regression and "selfmade" Support/Resistance


wish everybody green pips
  • #50
  • Jun 14, 2016 12:04pm Jun 14, 2016 12:04pm
Quoting Isabella_D
{quote} Sheet #45; table includes all my pending orders GBPUSD which I ordered today. For instance pending deal No1 should start long @1.4040 tp 1.4494. I plan to keep the trades until referendum and longer if it makes sence. Hope so that distance between entry and tp is enough for slippage For the case that deal No 7 and / or No 8 are triggered, these deal remain open some day (without tp) Charts for longer tf I use: M, W, D Intraday: D-orientation, H4, M30, M5, M1 Indis: HeikinAshi, ZigZag, SMA 8/12, Linear Regression and "selfmade" Support/Resistance...

great idea looking for big pips when gbp goes up and down to hunt stops both side I am unable to follow your sheet 100% can you give your pending orders in plain english like this so that it would be easy to understand the logic behind them:

order 1 (buy limit) : long @1.4040 tp 1.4494
order 2...
n so on...

order 7...
Scoobi doobi doo
  • #51
  • Jun 14, 2016 12:21pm Jun 14, 2016 12:21pm
Market fear is very clear..gbp and eur will fall hard..

Business owner, market player will keep their investment in usd, and leave gbp and eur for the uncertainty

Its time to make money
  • #52
  • Jun 14, 2016 1:37pm Jun 14, 2016 1:37pm
Quoting Scoobidoobi
{quote} great idea looking for big pips when gbp goes up and down to hunt stops both side I am unable to follow your sheet 100% can you give your pending orders in plain english like this so that it would be easy to understand the logic behind them: order 1 (buy limit) : long @1.4040 tp 1.4494 order 2... n so on... order 7...
Hi scoobi, thanks for interesting in my plan.
There have been some mistakes in scale, hope so orientation and understanding are now better after editing post #45
  • #53
  • Edited 2:15pm Jun 14, 2016 1:58pm | Edited 2:15pm
What I would like to know is how wide you can expect the spreads to go on pound/yen and gbp/nzd when the announcement is made.
  • #54
  • Jun 14, 2016 2:18pm Jun 14, 2016 2:18pm
Quoting mindyyost
What I would like to know is how wide you can expect the spreads to go on pound/yen and gbp/nzd when the announcement is made.
please note what your broker notices again and again: 4 times and more for directly correlated pairs/indices
2 times for others, from Sunday till min Sunday, Margin requirements > 400%
  • #55
  • Jun 14, 2016 2:24pm Jun 14, 2016 2:24pm
I am not asking about leverage and margin requirements, I am asking about the difference between the buy and sell prices... the spread.
  • #56
  • Jun 14, 2016 2:27pm Jun 14, 2016 2:27pm
Quoting mindyyost
I am not asking about leverage and margin requirements, I am asking about the difference between the buy and sell prices... the spread.
Spread 4 times and more ... see anouncment of your broker
  • #57
  • Jun 14, 2016 2:41pm Jun 14, 2016 2:41pm
Ok, I just checked with my broker and they have not made any announcement about spreads... so I guess it is a broker by broker thing. But the reason I asked is because I have personally witnessed the spread on gbp/nzd jump to over 170 pips and that was at a time when the announcement was not as big a deal as the brexit will be.

Needless to say that is a little bit more than a 4times widening.
  • #58
  • Jun 14, 2016 2:51pm Jun 14, 2016 2:51pm
EU is a new world order project, they wont let it fail. They will use Florida style election strategy. Leave has no chance.
welcome to hotel California, you can check in and you can check out but you can never leave. they told u in song long time ago.
  • #59
  • Jun 14, 2016 2:52pm Jun 14, 2016 2:52pm
Quoting Scoobidoobi
{quote} Jen, Just attach to GBP USD, it initially opens a buy order .01 lot and after that based on that pip interval input 20pips it takes order on the same direction or opposite direction recursively just following the price action if there is free fall of 200pips u can expect 20pips x 10sell orders showing up in the direction of market... Also I have other parameters like secure sl and basket dollars - secure sl will secure if any order is over 45pip (it secures 30pip on that and basket dollar will keep clearing all the open trades if specific...
Hello. How well would the stops hold? Is there a way to limit the number of trades opened? The basket dollar seems like it would help with this.
  • #60
  • Jun 14, 2016 8:20pm Jun 14, 2016 8:20pm
Quoting Greenstar
{quote} Hello. How well would the stops hold? Is there a way to limit the number of trades opened? The basket dollar seems like it would help with this.
we are constantly hedging the orders as the price tends to move opposite as the base order if it goes same direction we do pyramiding till we get basket dollar hit, the limit of no. of trades is dependent on distance between orders - wider the distance lower the number of open trades with the default settings u will have less open orders and as u said basket dollar along with secure SL tends to close all if profit target reached or profit secured SL hit letting to book. hope it helps..
Scoobi doobi doo
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