TRADER'S CORNER

Fizman

Tugboats wrote: »

Ive spent this year working on getting more precise entries. For FX i rarely have a stop wider than 15. I had a 12pip stop on cable this morning. If you can work on tightening you will be amazed at the results

Yeah I guess it depends on stake size too to an extent, and where it all fits into an individuals trading maths and risk management.

Out of interest, do you have a typical target in terms of Risk Reward ratio? E.g. for your 12 pip SL, would you have a defined target limit of 12, 24 etc? Have you adjusted your stake size since you've tightened your positions?

Tugboats

Fizman wrote: »

Yeah I guess it depends on stake size too to an extent, and where it all fits into an individuals trading maths and risk management.

Out of interest, do you have a typical target in terms of Risk Reward ratio? E.g. for your 12 pip SL, would you have a defined target limit of 12, 24 etc? Have you adjusted your stake size since you've tightened your positions?

Ya Ive adjusted my size. That was the hardest part having the confidence to trust the tight stop but Im comfortable spreadbetting @ 15-20pounds per point now. I have my R worked out when planning the trade but obviously it doesn't always go to target. Im still working on specific rules for my trading for moving my stop or scaling out at areas. Its hard for me anyway to get a plan written down on paper

For ever odd

Tugboats wrote: »

Ive spent this year working on getting more precise entries. For FX i rarely have a stop wider than 15. I had a 12pip stop on cable this morning. If you can work on tightening you will be amazed at the results

A exercise I used to do when my stops were getting hit alot, was to write my entry point and stop loss down and then change my entry point to where my stop was and half the original stop.

I don't think it applicable to yourself, but it might help anybody that is struggling with entry points.

For ever odd

ixus wrote: »

Full time, it's the job. Futures trader, i've posted on this before. I cover anything that moves really, equity indexes, commodities and bonds. Not into fx really.

Cool, I wasn't sure if your circumstances had changed or not.
If you are sticking around for a while, any posts on here would be more than welcome! and that goes to all the other pro traders who have stopped posting.

For ever odd

Fizman wrote: »

Only trading a live account for 4 months now so still a very green amateur but happy with how I've performed so far and really enjoying it.

Current trading plan matches up to the time I can give to the market, so DAX in the am (fade was working nicely before Greece came along), also trade on EUR/USD as a secondary product, and Gold is my current 'strategic' product.

I'd refer to charts for pretty much most trades, but don't specifically trade off of TA. I've found TA more useful to convince me that this isn't a good idea to trade as opposed to specifically open a trade just because the TA gave me the green light. Typically refer to pivot points, and a fan of Bollinger Bands, Williams. More recently beginning to have a look at Stochastic and MACD but early days there. Probably stick with 3 way combo of pivot/Boll/Williams for now.

Sold Eur/Usd today @ 109.80 (resistance), 40 point SL, 80 point target.

Steve Nison is the kiddy you want to be reading. You can add in indicators after if you need to.
https://youtu.be/b7SPaq8dr7I

For ever odd

dasdog wrote: »

Amateur mostly short term or intra day with fx, jumped in the deep end eight months ago. Layman's share dealing prior to that. Use others technical's and my own macro ideas. Only very recently found a use for Twitter.

Today:

Jumped in on EUR/CAD 1.4266 just after EUR CPI at 10am. Not expecting Canada's May GDP to be good (Michael O'Neil based there on trading floor has going on about it all week). Syriza squabble is a potential threat so stop in place just above open.

EDIT
Not sure what to do with this one. It peaked around 1.445 @ 188 pips but the aggressive sell of you'll see in the EUR/USD charts occurred. Fundamentals however are not sound for Canada with a rate cut prospective, election in Oct (socialists in front last time I looked) and crude oil being one of their main exports. Recent EUR/CAD July 27th peak was the highest since early February. I like the look of the curve and stop moved up, trade currently @ 115 pips. A Shanghai Composite collapse on Sunday would be nice.

You have let it retrace over 30% and you are not sure what to do.
Trade plan?

dasdog

For ever odd wrote: »

[/B]

You have let it retrace over 30% and you are not sure what to do.
Trade plan?

Yes, I expected that and decided not to grab a quick profit, 113 at market close. Negative US data and any trouble in China will boost this.

The Canadian Parliament was dissolved this morning. Prospects don't look good for CAD. Going to hold on to this if it survives the week as it has a lot of potential but I'll update the thread if I close.

For ever odd

dasdog wrote: »

Yes, I expected that and decided not to grab a quick profit, 113 at market close. Negative US data and any trouble in China will boost this.

The Canadian Parliament was dissolved this morning. Prospects don't look good for CAD. Going to hold on to this if it survives the week as it has a lot of potential but I'll update the thread if I close.

Sweet! if you think it is a runner, A future's contract could be used as a hedge against dips.

jpboard1

For ever odd wrote: »

Steve Nison is the kiddy you want to be reading. You can add in indicators after if you need to.

Steve nison?

Tugboats

jpboard1 wrote: »

Steve nison?

he teaches candlesticks. He cant trade himself but some of is stuff is ok if you can pick it up for free

http://www.amazon.co.uk/s/ref=nb_sb_ss_c_0_11?url=search-alias%3Dstripbooks&field-keywords=steve+nison&sprefix=steve+nison%2Caps%2C1212

jpboard1

I am interested in any tips/material for short term trading. I have got a decent handle on long term and fundamentals. Just want to improve short term execution.

For ever odd

jpboard1 wrote: »

I am interested in any tips/material for short term trading. I have got a decent handle on long term and fundamentals. Just want to improve short term execution.

You are probably going have to figure that one out for yourself. What suits one trader, might not suit another.

Try a Google of short term trading and it should open a few avenues of thought for you.

Tugboats

AAPL having a poor day again. Will be looking for longs. Cnbc won't allow it to drop much further

For ever odd

FTSE is floating around the 6630 level again, my bias is to the downside... I will be a seller below and a buyer above this level tomorrow 5 point stops will be used.

I'll be keeping an eye on oil and FTSE

Tugboats

Slow week no opportunities at all

For ever odd

I was thinking of you, thought you might of gone in Apple.
Sit on hands till Friday.

Ixus, if you have the time, Would it be possible to post three or four futures of your choice on a one minute hi/lo?

Just so us mere spreadbetters can see how much we are been screwed.

Tugboats

Was watching it but didnt see an entry. Continue to fire blanks this week had an order to short Euro this morning at 109.49 but sold off just before getting there:(

Tugboats

Short EUR/USD 108.93. SL 109.01. Target 10850s

EDIT SL hit

jpboard1

I really think we are going to see the dollar weaken in the medium term. I am long eur/usd & long eur/jpy

For ever odd

jpboard1 wrote: »

I really think we are going to see the dollar weaken in the medium term. I am long eur/usd & long eur/jpy

Ok, you have the floor. Can you give us a few bullet points why you think that?

Tugboats

Tugboats wrote: »

Was watching it but didnt see an entry. Continue to fire blanks this week had an order to short Euro this morning at 109.49 but sold off just before getting there:(

109.49 was hit to the pip today before selling off. Shame I didnt still have the order in. Due to frustration at missing this yesterday I took a poorer entry yesterday afternoon. Patience pays off

dasdog

Stop chase is on (following on Twitter)
EUR touched 109.5 and 1.11 appears to be the target.

Not joining in directly but:

-17.0 pips, AUD/USD long 0.7366/0.7349, 32k which I closed earlier (too early, would have profited)
+44.2 pips EUR/GBP long 0.7034/0.7078, 50k started to fade so booked

jpboard1

For ever odd wrote: »

Ok, you have the floor. Can you give us a few bullet points why you think that?

Its purely a dollar play. The Fed cannot afford another dollar rally. Its killing their growth. I really don't see dollar any stronger here. Even today with pretty strong NFP it could not sink the euro.

For ever odd

[QUOTE=jpboard1;96526561]Its purely a dollar play. The Fed cannot afford another dollar rally. Its killing their growth. I really don't see dollar any stronger here. Even today with pretty strong NFP it could not sink the euro.[/QUOTE]

This argument has been presented for over a year now. So what is the fed going to do?

The euro is been used as a funding currency by US multi- nationals for corporate debt.

arrowloopboy

Still short light crude since 5995.00 and again 5500.00/5000.00/4800.00,it closed yesterday evening at 4417.00, this one trade has given me nearly 4000 points , which has turned this into one of my best years ever , and has reinforced my belief in medium term trading rather than scalping , enjoy the weekend guys 😀😀😀

For ever odd

arrowloopboy wrote: »

Still short light crude since 5995.00 and again 5500.00/5000.00/4800.00,it closed yesterday evening at 4417.00, this one trade has given me nearly 4000 points , which has turned this into one of my best years ever , and has reinforced my belief in medium term trading rather than scalping , enjoy the weekend guys 😀😀😀

Its amazing how easy it is, when you find the style that suits you!
Well done and enjoy!

jpboard1

For ever odd wrote: »

This argument has been presented for over a year now. So what is the fed going to do?

The euro is been used as a funding currency by US multi- nationals for corporate debt.

Maybe delay the rate rise everyone is expecting. They have their ways.

jpboard1

For ever odd wrote: »

Its amazing how easy it is, when you find the style that suits you!
Well done and enjoy!

I really wouldn't ever consider trading easy

jpboard1

arrowloopboy wrote: »

Still short light crude since 5995.00 and again 5500.00/5000.00/4800.00,it closed yesterday evening at 4417.00, this one trade has given me nearly 4000 points , which has turned this into one of my best years ever , and has reinforced my belief in medium term trading rather than scalping , enjoy the weekend guys 😀😀😀

What is your eventual target? What platform are you trading it on?

For ever odd

jpboard1 wrote: »

I really wouldn't ever consider trading easy

I really don't care if I am right or wrong!