Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
It was just something I had played with - moving stop according to profits - almost trailing - but moving it both up and down according to how I see the market intentions and potential.
So, I guess it's something similar. I set the stop for a tight loss initially and move the stop into profit very quickly when the trade gets profitable - I move it into loss sometimes too ... but it's basically just a "very actively managed stop" - adapting to markets. I try and be staunch about not letting it get into a loss by holding on to the minimal profit if I have seen it get unintelligble at larger profits - i.e better safe than sorry.
Is your stop "automated"? I mean is your program giving you exact numbers on the screen to follow or are you deciding on the go? Are is it 100% automated through the API?
I like to have my stops readily available on the screen. I still violate them once in a while but with this new one the tendency to monkey with it should be minimal. I used to trade the futures from the spot chart. Then I started trading from both the spot and futures. Now from now on, I'll only trade it from the futures chart only. Much cleaner and simpler.
I like to have my stops readily available on the screen. I still violate them once in a while but with this new one the tendency to monkey with it should be minimal. I used to trade the futures from the spot chart. Then I started trading from both the spot and futures. Now from now on, I'll only trade it from the futures chart only. Much cleaner and simpler.
Nothing automated with regards to stops .. that would be just as challenging as managing the target I think - i.e a fully automated scalping system.
I'm totally manual - but I get signals on activity - although they're inherently pretty simplistic.
Joining signals for currency pairs is the latest I am fiddling with. Like now - USDJPY pushing for 103.00 - and what that has to say for EURUSD going higher - where is the "cap" then with regards to USDJPY correlation - or general USD weakness. It would seem the mid 1.3280s and 103.05s - those are roughly the consequences of the USDJPY 103-defense.
I would like to get good simple signals on when there is a clear divergence - i. e opportunity in the pairing correlation. Of course it could be in either one - so some care needs to be taken anyhow.
Bernanke comments now playing a little.
I'm totally manual - but I get signals on activity - although they're inherently pretty simplistic.
Joining signals for currency pairs is the latest I am fiddling with. Like now - USDJPY pushing for 103.00 - and what that has to say for EURUSD going higher - where is the "cap" then with regards to USDJPY correlation - or general USD weakness. It would seem the mid 1.3280s and 103.05s - those are roughly the consequences of the USDJPY 103-defense.
I would like to get good simple signals on when there is a clear divergence - i. e opportunity in the pairing correlation. Of course it could be in either one - so some care needs to be taken anyhow.
Bernanke comments now playing a little.
Doing some scalps on spot demo now, but it seems so easy that I'm tempted to do the futures again ...
But conditions now are not that favourable for my kind of scalping by tape-reading. Maybe I should try the book-less scalping a little, and see if I have a better "feel for scalps" that way right now. That is what I'm basically doing with the spot demo scalps anyway.
The latest thin liquidity and flashing have pushed for a little change in my approach.
But conditions now are not that favourable for my kind of scalping by tape-reading. Maybe I should try the book-less scalping a little, and see if I have a better "feel for scalps" that way right now. That is what I'm basically doing with the spot demo scalps anyway.
The latest thin liquidity and flashing have pushed for a little change in my approach.
.....well as you know ''fools and angles''...no angles in this ether...the fool bit, haven't finished reading the book yet....still holding at 1.3282Quote from Gringinho:
You should remember to wear your seatbelt - i.e stop limit - at all times and don't push your luck when you get into losing with over-trading. The problem now is that it will settle down - and you can't make up what you lost.
It could take on another slide - but certainly not a bounce. This goes to show - I got it right from the top - but ejected prematurely. Still I didn't try and stick my money in the wrong some - but laid back watching instead.
I don't like those lashes or whipsaws hitting me. I'm pretty straight-forward and easy-going in that respect.
Of course this slide makes my comments about tomorrow's NFP that much truer. It will be a nice one - whatever the number - because market's are looking for excuses; then it's just to make the reasoning beliveable for the masses - i.e simplistic K.I.S.S ...
I hope goldensavage stayed true to his intentions, and did not try and counterplay it with short USD in other pairs ...
Looking for a breakdown from this support around 1.326. I'm not long or short, but buy stops are set below at the moment.
Interesting how that latest downspike hit support right around the same strong support from a couple days ago.
ae_trading
Interesting how that latest downspike hit support right around the same strong support from a couple days ago.
ae_trading
Yeah i had a limit buy @1.3245 that stayed there from last monday. The surprise i got when i logged in after lunch
There signs of short-term reversal though. Open positions statistics show massive losing long position, almost as big as the massive losing short positions there was before the 1.30 breakout. May be even worst.
And with that comes the shit load of limit sell from wannabe traders that don't know when to exit and still dream of covering flat.
Yup downfall seems to be resuming now. Anyway going down after such a rise is just logical isn't it?
There signs of short-term reversal though. Open positions statistics show massive losing long position, almost as big as the massive losing short positions there was before the 1.30 breakout. May be even worst.
And with that comes the shit load of limit sell from wannabe traders that don't know when to exit and still dream of covering flat.
Yup downfall seems to be resuming now. Anyway going down after such a rise is just logical isn't it?
....too early to start a book build..long.... :eek: