Fx futures Journal

Covered at 8893 before I could post the chart lol...

Quote from optioncoach:

Long the pound on a quick pullback at 8904 with a stop at 8896...

Bullish entry on 5m and setting up on 15 min chart. Will post chart shortly if I can.
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New short entry at 1.8891 on the pound with a target near 8817. Gonna let it run with a stop at 8921.

So 30 Ppoint risk for 74 profit target. Might have to hold this one a while so will just let the position run with the stop.
 
Quote from optioncoach:

New short entry at 1.8891 on the pound with a target near 8817. Gonna let it run with a stop at 8921.

So 30 Ppoint risk for 74 profit target. Might have to hold this one a while so will just let the position run with the stop.
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Yes , the Pound actually looks like a longer term short here. At least for now as I was mentioning earlier. Do you trade longer term and hold for days at times?
 
Not usually and that is a habit carried over from trading ES and YM. However with fx futures I am trying to let positions run a little longer lol...

Yesterday's huge drops in the Yen and Pound AFTER I covered my shorts fro a profit sort of drove the point home a bit stronger...


Quote from Buy1Sell2:

Yes , the Pound actually looks like a longer term short here. At least for now as I was mentioning earlier. Do you trade longer term and hold for days at times?
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Quote from optioncoach:

Not usually and that is a habit carried over from trading ES and YM. However with fx futures I am trying to let positions run a little longer lol...

Yesterday's huge drops in the Yen and Pound AFTER I covered my shorts fro a profit sort of drove the point home a bit stronger...
More...

The fx futures can be traded longer term with stops outside daily reaction lows/highs with very good success. It's just a matter of being able to sit during daily oscillations. If one can do that, then long term fx futures can be very profitable.
 
Yup, fitting it in between my monthly option positions and index future daytrades lol..

Pound futures getting pounded to 8873.

I also shorted the Euro at 2828 which is now around 2821 and approaching lows for the day.

Yen is at lows for the day and might be an interesting short but the wagon is full right now...
 
Looks like I let my skirt get in the way of a nice Yen short...

From 8601 to 8585 lol....

Quote from optioncoach:



Yen is at lows for the day and might be an interesting short but the wagon is full right now...
More...
 
Quote from optioncoach:

Yup, fitting it in between my monthly option positions and index future daytrades lol..

Pound futures getting pounded to 8873.

I also shorted the Euro at 2828 which is now around 2821 and approaching lows for the day.

Yen is at lows for the day and might be an interesting short but the wagon is full right now...
More...

Yes, I did not want to overextend and trade the Yen also, since I had short positionals in the Pound and Euro and also the short term trade in the Aussie. It looks like I may have pulled the plug early on my euro FX intraday, but fortunately(maybe) I still have the Pound and Euro short with the Pound stop at 1.9225 and the Euro stop still at 1.3026. This is the only problem with the day trading--the plug gets pulled early a lot, but as long as a trader comes to terms with that emotionally and accepts the predetermined profit targets etc it's ok.
 
There is a potential set up intraday for a long Euro trade here with the low of 1.2800 being lower than the previous reaction low of 1.2806. --And the MACD below the zero line with RSI tracing a higher trough. This is not a prediction--only it's worth watching to see if the set up develops. Right now it's all downhill with the very sharp RSI peaks on the hourly.
 
Small retracement in the Euro might present a new short entry at 1.2807 but I think I will pass for this morning lol... 5m chart shows small bearish pause flag formation....
 
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