Baruch's Forex System Journal

[rax]

Quote from Baruch:

ZZZZZZZZZZZZZ...No. Are you? Are you also trading the indexes?

P.S. The strong number was PPI, but that was because of energy, and we all knew that would happen.

maybe we will see some action tomorrow after the cpi.

at the moment im looking at the dax. rax likes the dax. last night in after hours trading it was down to ~3750 and with the us rally in the afternoon it came back to ~3810 within two hours. that was a nice move...

 

[rax]

Quote from Jetheat:

Rax, didnt you get stopped out when trailing by 30 pips?

im not trailing.

im still short in eurusd, +63pips at the moment. i have no stop in the market. looking at the spikes at 8:30 this was a good idea.
i hate being thrown out of the trade by those spikes

 

[rax]

Quote from Baruch:

Why?

because the sma 50 on the 30min shows the eurusd is going down, and i like to stick to my positions longer. now im in this one since ~24h

but maybe its a good idea to play a reaction in eurusd. maybe with a short usdchf?

what do you think?

 

[Baruch]

Quote from rax:

im not trailing.

im still short in eurusd, +63pips at the moment. i have no stop in the market. looking at the spikes at 8:30 this was a good idea.
i hate being throw out of the trade by those spikes

Good idea. Will euro go up when dax goes down?

 

[rax]

Quote from Baruch:

Good idea. Will euro go up when dax goes down?

i dont think that theres a lot of correlation, but have to look it up somewhere.

the biggest correlation for the dax is the s&p, dji, nas. they are moving the dax.

 

[Baruch]

Quote from rax:

because the sma 50 on the 30min shows the eurusd is going down, and i like to stick to my positions longer. now im in this one since ~24h

but maybe its a good idea to play a reaction in eurusd. maybe with a short usdchf

How does it show that eurusd is going down (yes, I know the price is still below sma 50)?

 

[Baruch]

Quote from rax:

i dont think that theres a lot of correlation, but have to look it up somewhere.

the biggest correlation for the dax is the s&p, dji, nas. they are moving the dax.

1. Some times there are. I always look at indexes when trading the news.

2. Yes.

 

[Jetheat]

Quote from rax:

im not trailing.

im still short in eurusd, +63pips at the moment. i have no stop in the market. looking at the spikes at 8:30 this was a good idea.
i hate being throw out of the trade by those spikes

So what do you do if the market turns against you and eats up all your profits?
What if it retraces all the way back to the MA 50. This must have happened many times

 

[rax]

Quote from Baruch:

How does it show that eurusd is going down (yes, I know the price is still below sma 50)?

ok, your right. its not saying its going down. but as its not above the 50sma so im comfortable on the short side.

 

[SteveL91]

Just pulled out of the USD/JPY and EUR/USD with respective gains of 32 and 15. As I thought, I got in too late; most of the move had already occured. I could have gotten out with a much more significant profit, but I was asleep. Ah well. A profit is a profit, I guess.