Baruch's Forex System Journal

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Quote from jrichman23:

I am a strong believer of trading the news...news makes pips(lol)
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Thanks for the information. Looks like we both go after the reversals, though I don't really trade the news - atleast, not yet.
 
Quote from taodr:

Baruch, I am following your journal with interest. Thank you. I don't trade currenies right now but have always been interested. What I find interesting is the currency traders are helping each other and not the constant name calling and bickering as found on some other threads. Well done ! When do you sleep ?
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It's one of these rare peaceful threads. I guess trying to scalp ES/NQ are making people bitter :)

Chinook
 
Quote from taodr:

Baruch, I am following your journal with interest. Thank you. I don't trade currenies right now but have always been interested. What I find interesting is the currency traders are helping each other and not the constant name calling and bickering as found on some other threads. Well done ! When do you sleep ?
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Hi taodr,

Thank you. Yes, we are friends and help each other og share our ideas.
What do you trade?

P.S. I sleep in the winter. LOL
 
Quote from jrichman23:

I am a strong believer of trading the news...news makes pips(lol)
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Hi jrichmann23,

Yes, I agree.

How do you trade the news? Do you use guaranteed stops? Making your orders before the news, or just following the flow after the news?
 
Quote from SteveL91:

Baruch,

Actually, I've been doing pretty well with options on equities, but that's beside the point. :D

Basically, the way refco structures their forex options is you decide on a payout, pick a price, then a condition. For example, you can say that EUR/USD will hit this price by this date; it won't hit this price by this date; or the price will either be above this price or below this price at expiration. It's very customizable. They offer payouts of $100-$10000 and you'll pay a premium to buy the option.

http://www.refcofx.com/option-trading-accounts.html

I'm looking at a bunch of reverals on the daily and weekly charts; some have already kicked in as I put them in my demo account.

I'm thinking about options because I can make the play without really sacrificing the missed profit opportunities from playing the intraday swings. It also seriously limits the risk of drawdown, which is always a beneficial thing - especially with a small account.
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Hi again,


OK. Sounds very interesting. Please keep us informed.
 
Quote from SteveL91:

Thanks for the information. Looks like we both go after the reversals, though I don't really trade the news - atleast, not yet.
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Hi again,

Why do you not trade the news?
 
Quote from chinook:

It's one of these rare peaceful threads. I guess trying to scalp ES/NQ are making people bitter :)

Chinook
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Hi chinook,

Yes - and thank you. So why not trade forex instead?
 
Quote from Baruch:

Hi chinook,

Yes - and thank you. So why not trade forex instead?
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I'm trading EURUSD futures for the last 3 weeks. I also trade ES but I'm not a scalper--I'm more like an intraday swing trader.

My biggest problem is my location for EURUSD trading. I live in US Northwest. Most of the EUR action happens during my regular sleeping hours! Maybe I'll move to Spain :)

Chinook
 
Quote from chinook:

I'm trading EURUSD futures for the last 3 weeks. I also trade ES but I'm not a scalper--I'm more like an intraday swing trader.

My biggest problem is my location for EURUSD trading. I live in US Northwest. Most of the EUR action happens during my regular sleeping hours! Maybe I'll move to Spain :)

Chinook
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Hi again,

Well, I live in Europe, and I think most of the EUR action also happens during my sleeping hours...LOL. Well, forex markets are now 24/6. We must sleep in the weekend.

What is your forex trading strategy?
 
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