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Forex Made Millionaire Thread for Blog Swing Trades

  • #2,721
  • Aug 11, 2016 11:00am Aug 11, 2016 11:00am
Stopped out of USD/JPY shorts. In hindsight, I should have waited on that trade given it was reacting to key support.

Still have GBP/USD and GBP/JPY shorts though and hoping to still see movement there.
check out my blog: forexmademillionaire dot com
  • #2,722
  • Aug 11, 2016 11:02am Aug 11, 2016 11:02am
Quoting Geppy
Stopped out of USD/JPY shorts. In hindsight, I should have waited on that trade given it was reacting to key support. Still have GBP/USD and GBP/JPY shorts though and hoping to still see movement there.
If UJ is moving up..this time might be for longer...then it is extremly unlikely that GJ would move down. At least not much and at least not for a while.
Think about it from your past expirience..
PVSRA
  • #2,723
  • Aug 11, 2016 11:11am Aug 11, 2016 11:11am
Quoting Fisher755
{quote} If UJ is moving up..this time might be for longer...then it is extremly unlikely that GJ would move down. At least not much and at least not for a while. Think about it from your past expirience..
That's not at all true.
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  • #2,724
  • Aug 11, 2016 11:22am Aug 11, 2016 11:22am
Quoting Geppy
{quote} That's not at all true.
Ok. Then watch it now if UJ breaks 102.
PVSRA
  • #2,725
  • Aug 11, 2016 11:24am Aug 11, 2016 11:24am
I think it will reverse at 102.13.
  • #2,726
  • Aug 11, 2016 11:30am Aug 11, 2016 11:30am
Quoting Fadhl
I think it will reverse at 102.13.
Yee Haw!
I need cca 20 pips retrace down for my pending longs to get hit UJ.
PVSRA
  • #2,727
  • Aug 11, 2016 11:37am Aug 11, 2016 11:37am
Quoting Geppy
{quote} That's not at all true.
GY 137.
  • #2,728
  • Aug 11, 2016 11:52am Aug 11, 2016 11:52am
Quoting Jfx
{quote} GY 137.
Thank you for your insightful analysis.
check out my blog: forexmademillionaire dot com
  • #2,729
  • Aug 11, 2016 11:55am Aug 11, 2016 11:55am
Quoting Geppy
{quote} Thank you for your insightful analysis.
You're quite welcome.

Inserted Video
  • #2,730
  • Aug 11, 2016 12:36pm Aug 11, 2016 12:36pm
Quoting Jfx
{quote} You're quite welcome. https://www.youtube.com/watch?v=TSIajKGHZRk
OK, you didn't take the hint.

If you aren't here to contribute I will put you on ignore. Not because I dislike you, but because I plan to keep this thread high-quality.
check out my blog: forexmademillionaire dot com
  • #2,731
  • Aug 11, 2016 3:27pm Aug 11, 2016 3:27pm
Quoting Geppy
{quote} OK, you didn't take the hint. If you aren't here to contribute I will put you on ignore. Not because I dislike you, but because I plan to keep this thread high-quality.
Now THAT'S the Geppy I'd like to see here!.

Well done.

Cheers.
  • #2,732
  • Aug 11, 2016 3:27pm Aug 11, 2016 3:27pm
Quoting krismitt
{quote} Now THAT'S the Geppy I'd like to see here!. Well done. Cheers.
good to see you, brother!
check out my blog: forexmademillionaire dot com
  • #2,733
  • Aug 11, 2016 4:19pm Aug 11, 2016 4:19pm
Quoting Geppy
{quote} good to see you, brother!
Sweet!
  • #2,734
  • Aug 12, 2016 7:29am Aug 12, 2016 7:29am
got a bit of a late start today, gang. Still at the gym.

Only holding GBP/JPY shorts now, but looking solid there.

Also, anyone else FF's drastic mobile improvement?
check out my blog: forexmademillionaire dot com
  • #2,735
  • Aug 12, 2016 8:29am Aug 12, 2016 8:29am
Quoting Geppy
got a bit of a late start today, gang. Still at the gym. Only holding GBP/JPY shorts now, but looking solid there. Also, anyone else FF's drastic mobile improvement?
Yes noticed those last week. It is finally good to see some work on mobile version of FF.

Btw did you see the notice that interactive brokers is stopping all FX retail trading from Sep 1st? I know you use them and honestly i dont know if anyone with large account (50k+) can trust any other broker. Would love to hear what are your plans once IB stops retail FX. Trading futures is one option but then min trade size becomes 100k equiv.
Think : Trade : Live Life
  • #2,736
  • Aug 12, 2016 8:40am Aug 12, 2016 8:40am
Quoting stt
{quote} Yes noticed those last week. It is finally good to see some work on mobile version of FF. Btw did you see the notice that interactive brokers is stopping all FX retail trading from Sep 1st? I know you use them and honestly i dont know if anyone with large account (50k+) can trust any other broker. Would love to hear what are your plans once IB stops retail FX. Trading futures is one option but then min trade size becomes 100k equiv.
Yeah, I trade futures on IB so won't matter to me.

Curious where you saw that though. Just checked their FX page and I don't see anything there about it: https://www.interactivebrokers.com/en/index.php?f=759
check out my blog: forexmademillionaire dot com
  • #2,737
  • Aug 12, 2016 8:47am Aug 12, 2016 8:47am
Quoting Geppy
{quote} Yeah, I trade futures on IB so won't matter to me. Curious where you saw that though. Just checked their FX page and I don't see anything there about it: https://www.interactivebrokers.com/en/index.php?f=759
People received an email notice yesterday. Someone has posted screenshot on IB tgread as well www.forexfactory.com/showthread.php?t=335538 (see last page).

Yes futures are a good option.. just little less flexibility now in trading crosses.. how do you do gbpjpy using futures - using two legs? There is some slippage risk i guess in uaing two legs.
Think : Trade : Live Life
  • #2,738
  • Aug 12, 2016 8:59am Aug 12, 2016 8:59am
Quoting stt
{quote} People received an email notice yesterday. Someone has posted screenshot on IB tgread as well www.forexfactory.com/showthread.php?t=335538 (see last page). Yes futures are a good option.. just little less flexibility now in trading crosses.. how do you do gbpjpy using futures - using two legs? There is some slippage risk i guess in uaing two legs.
Yeah, I moved to futures a few years ago but trading GBP/JPY is a b*tch to say the least.

Last time I checked they did have a futures contract for it, but the liquidity was terrible. So I just do two legs. Slippage isn't really something I worry too much about since I'm not putting trades on super fast... usually stalking an entry and placing limit orders. So I can just do the math for what levels I need to buy/sell in USD/JPY and GBP/USD respectively and put them in.

A bit of a pain, and that's one of the reasons I've been testing Oanda (also IB's mobile platform leaves much to be desired).

Still looking to find someone that has a significant amount of money with Oanda, and has for awhile, to get their thoughts on them.
check out my blog: forexmademillionaire dot com
  • #2,739
  • Aug 12, 2016 9:42am Aug 12, 2016 9:42am
Quoting Geppy
{quote} Yeah, I moved to futures a few years ago but trading GBP/JPY is a b*tch to say the least. Last time I checked they did have a futures contract for it, but the liquidity was terrible. So I just do two legs. Slippage isn't really something I worry too much about since I'm not putting trades on super fast... usually stalking an entry and placing limit orders. So I can just do the math for what levels I need to buy/sell in USD/JPY and GBP/USD respectively and put them in. A bit of a pain, and that's one of the reasons I've been testing Oanda...
Thanks. Yes two legs are really PIA. In additional to slippage between legs there is also issue of mismatch sizes. Gbp contract is 62.5k gbp while mini jpy is 6250000 jpy.. so dollar value is different depending on dollar rates. U will have residual currency risk.

I dont know of any with 50k+ account with oanda.. i think fxcm has some large accounts but i do not feel comfortable with depositing large sum at any of these brokers. With IB you have fx and non fx all in one place and you can also get portfolio margin.

Anyhow interesting to see what impact this has for us retail fz accounts.. will they move to other smaller brokers or stop trading fx and move to futures.
Think : Trade : Live Life
  • #2,740
  • Aug 12, 2016 10:22am Aug 12, 2016 10:22am
Quoting stt
{quote} Thanks. Yes two legs are really PIA. In additional to slippage between legs there is also issue of mismatch sizes. Gbp contract is 62.5k gbp while mini jpy is 6250000 jpy.. so dollar value is different depending on dollar rates. U will have residual currency risk. I dont know of any with 50k+ account with oanda.. i think fxcm has some large accounts but i do not feel comfortable with depositing large sum at any of these brokers. With IB you have fx and non fx all in one place and you can also get portfolio margin. Anyhow interesting to see...
Yeah, I don't trust a large deposit with FXCM. I don't trust them at all. After what happened with the unpegging of the CHF... and their balance sheet leaves much to be desired.

I might trust $50-100k with Oanda. I've heard of friends of friends with $100k balances, but I'm looking for more, larger traders.

I've kicked around the idea of opening a foreign corporation and trading through a reputable offshore broker like LMAX, but I haven't done much digging on that yet. I feel like someone has had to have done that by now.
check out my blog: forexmademillionaire dot com
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