Baruch's Forex System Journal

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Quote from OddTrader:

:confused: I've been shorting it for 2 days! :p
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:eek: :D

Thank you for your donation towards fulfilling a poor, lonely, cathode-radiation-blind trader's dreams! :p
 
might as well put in my 2 cents as I've been long yen also.

The current high this am is exactly at a 62% FIB on my 60 min charts. 9275 (futures), looks like a bit of a wall to me. I'm out (at 9271). I need to see a decisive break here to go long again. I may even fade it for a quickie short.

short euro to previous lows.

Jay
 
Quote from Baruch:

Hi Jay

How can you trade so many markets?
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I only day trade 4 markets (euro, pound, yen, spoos). What do you mean?

I rarely have positions in more than two at any given time.

With multiple screens, its pretty easy to follow lots of stuff.

Jay
 
Quote from OddTrader:

I meant shorting USD/JPY! :D
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OK, so we've got the same position here. I've been long JPY/USD since Monday as well, it's up about 210 pips ($2,625 per contract) right now, but I might take at least a third off here. Not too sure yet, eyes glued to the tapes...
 
Quote from Jayford:

I only day trade 4 markets (euro, pound, yen, spoos). What do you mean?

I rarely have positions in more than two at any given time.

With multiple screens, its pretty easy to follow lots of stuff.

Jay
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Hi Jay,

OK, but you also trade CAD and AUD?
 
Quote from Jayford:

might as well put in my 2 cents as I've been long yen also.

The current high this am is exactly at a 62% FIB on my 60 min charts. 9275 (futures), looks like a bit of a wall to me. I'm out (at 9271). I need to see a decisive break here to go long again. I may even fade it for a quickie short.

short euro to previous lows.

Jay
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Well, that's exactly what I'm looking at, too. What worries me though is the good selloff in the Euro and the decent buying that has come in in the Yen just then! I think I may just hold here, maybe drop a little bit off at higher levels. Unless we see the Europe currencies recover a bit, I see no reason why Yen shouldn't rally a bit more.

That said though, if you look at the daily, it's really a pretty good point to sell and short the yen, in terms of R:R. The prior fall on the daily was pretty convicted and this could just be the first retracement...

The EUR just sold 10,000+, total volume climax, I think it needs to retrace a bit before going for new lows. That said though, I'm holding 1/3 of my EUR short here.

Also, just taken 1/2 off my GBP short at the 60% ret level, which got me out +50 pips.
 
Quote from Kicking:

Baruch,

there was what looked like a cross buy on GBP/USD at 1.8140 between 6:30 am and 7 am ET, did you take it?
I happened to buy at 1.8150 for different reasons (240m piercing line candle pattern among others)it went 10 pips higher then fell and I got stopped out at 1.8131, which also was a 50 MA cross sell signal for your system I suppose.
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Hi Kicking,

No, I did not take it. I had to do some thinking and testing about the RSI problem.
I will now - as an test - trading my system without RSI and 10 pips as a filter. The filter should protect you in a trading range, but it's more easy just to look at the charts - and not trade.
 
Quote from Scientist:

Well, that's exactly what I'm looking at, too. What worries me though is the good selloff in the Euro and the decent buying that has come in in the Yen just then! I think I may just hold here, maybe drop a little bit off at higher levels. Unless we see the Europe currencies recover a bit, I see no reason why Yen shouldn't rally a bit more.

That said though, if you look at the daily, it's really a pretty good point to sell and short the yen, in terms of R:R. The prior fall on the daily was pretty convicted and this could just be the first retracement...

The EUR just sold 10,000+, total volume climax, I think it needs to retrace a bit before going for new lows. That said though, I'm holding 1/3 of my EUR short here.

Also, just taken 1/2 off my GBP short at the 60% ret level, which got me out +50 pips.
More...



Scientist,

You trade VERY similar to me.
I haven't faded yen yet, and don't think I will, at least for awhile, depends on volume and other markets.
I'm looking at a down channel on euro (30 or 60 min).

How do you see what types of prints are going off? I get size via IB, but I have no idea what type of trade it was (mkt, lmt, etc).

Jay
 
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