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Baruch's Forex System Journal
- Thread starter Baruch
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Quote from SteveL91:
Actually, I've been looking at Saxo Bank. I'm most likely going to open an account there, but I want to give it a few more months first.
I think I may be able to make the options through refcofx work, so I think I'm going to take a shot at a few of them. I was playing around with it before, and I may have to pick a profit target instead of what I had wanted: a price the pair wouldn't touch. C'est la vie; I'll make it work.
Well, if you want a price the pair wouldn't touch, I suppose you must SELL the options? Aren't there options on the CME forex futures? I think so.
Quote from chinook:
When things are slow, using tick charts compresses the time axis. I think overall indicators behave better this way. This is more useful for smaller time frames like 5-min charts. If you're using 30-min charts, then I don't think tick charts will make any difference.
Chinook
OK - didn't knew that. Which indicators do you use?
Quote from Baruch:
Well, if you want a price the pair wouldn't touch, I suppose you must SELL the options? Aren't there options on the CME forex futures? I think so.
Not necessarily. Refco doesn't structure their options - I don't know if this is typical of forex options - like regular options; there aren't puts or calls. I also can't sell options through refco; the way around it is they afford various conditions that sort of mimic puts and calls. I'm sure there are options on the CME futures, but I don't have a futures account just yet.
Truth be told, now that I've been playing around with it a bit, I think there's more potential in the refco options. I'm sure I'll find out soon enough.
Quote from SteveL91:
Not necessarily. Refco doesn't structure their options - I don't know if this is typical of forex options - like regular options; there aren't puts or calls. I also can't sell options through refco; the way around it is they afford various conditions that sort of mimic puts and calls. I'm sure there are options on the CME futures, but I don't have a futures account just yet.
Truth be told, now that I've been playing around with it a bit, I think there's more potential in the refco options. I'm sure I'll find out soon enough.
OK. Good luck. Please keep us informed.
Quote from Baruch:
OK - didn't knew that. Which indicators do you use?
I also use a moving average. I have some more tweaking to do especially for exits. Couple of times, I took my profits at resistance/support and then the trend continued like crazy--I couldn't believe my eyes. Then I started letting the profits run and trail and ended up leaving very nice profits on teh table. I guess the answer lies in scaling in and out...
When do you take profits? Do you scale in /out?
Thanks,
Chinook
Quote from chinook:
I also use a moving average. I have some more tweaking to do especially for exits. Couple of times, I took my profits at resistance/support and then the trend continued like crazy--I couldn't believe my eyes. Then I started letting the profits run and trail and ended up leaving very nice profits on teh table. I guess the answer lies in scaling in and out...
When do you take profits? Do you scale in /out?
Thanks,
Chinook
Which ma's do you use for exits?
I have tried everything. Trailing stops. Scaling in/out. Support/resistance. You name it.
But I have not found the holy grail yet.
I am also leaving very nice profits on the table.
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