Baruch's Forex System Journal

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Quote from Guardian Angel:

nah, i dont usually follow the nikkei.
however, from what i gather the nikkei will follow the dow jones.
i base that assumption on the fact the U.S. is a world leader and that foreign interest in the U.S. make it vulnerable to U.S. mkt price fluctuations.
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The last days both yen and Nikkei has gone south - when foreigners sells Japan stocks, they also sell yen.
And when the oil price goes north, both Nikkei and yen goes south.
 
Scalpers Out there!!!!

What is the best timescale that should be used when scalping?

I tend to use the the 10 or even the 5 minute chart to enter a trade.

Can the Baruch strategy be used on a small time table? i.e. 10 minute chart?


Scalpers, what is the average length of time we should remain in a trade?

Appreciate your help.


Thanks :)
 
what page of this 195 page thread is baruchs strategy? or what other basic strategy do you guys know of? not scalping, maybe for a swing trade. i'm new at this.
 
Quote from GatorTrader:

what page of this 195 page thread is baruchs strategy? or what other basic strategy do you guys know of? not scalping, maybe for a swing trade. i'm new at this.
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Hi GatorTrader

1. Page 1.

2. Page 2 - 195.

P.S. Welcome in the club.
 
Quote from Baruch:

John Hary from Saxo Banks thinks CPI today COULD be a "launching pad" for at "dramastic turnaround" in dollar.

Yes, who knows? Inflation is not the same as growth.
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Good call, John
 
No big news today - I suppose:

9.00 GMT: EMU March Industrial Production. But we already know that production in Germany and Italy was down but up in France and Spain.

10.00 GMT: Bundesbank montly report for May.

12,30 GMT: NY FED Mnuf. Survey: Consensus: 35. Prior: 36.
Consensus range: 27,5-36,8. Well, the last number was very high, so most think this one will be lower.

13.00 GMT: Market Capital Flow Data from U.S. Treasury. Could be a surprise. Who knows?
 
Quote from Guardian Angel:

Big charts: yes because you get the microview on the possible turning points.

eco new: i don't play those most of the time. i will wait and trade after the news is released.

Now for some observations

Based on the 4hr chart for usd/jpy:

buy usd/jpy @ 114.56 & 114.98
sell usd/jpy @ 113.85 & 113.53 & 112.93

rationale: the 4hr chart is overbought but shows signs of potential breakout long giving the mkt one more leg up attempt. stochastic is turning down hinting toward a possible pullback toward support thus creating a sell opportunity.
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Hi Angel,

Are you short now?
 
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