Fx futures Journal

Quote from Buy1Sell2:

Here is a chart to illustrate my earlier point about having to take heat possibly if you just jump in short here. If you jumped in now at 1.26760 short, the most prudent stop usable here is 1.29070. That's a loss of 231 pips. $2800 or $2900 loss. Can you stomach that? Using the mini euro fx you could pare it down to $1400 or so. The point is, I think that with little or no leverage on the position, you could do that. With a 60,000 account, I would recommend one mini euro fx or at the maximum one reg euro fx. That's probably why most people daytrade, but while doing so, the bigger picture might be missed. With a 5000 account, you would be freaking out taking your loss at 500 or so and then watching the position become enormously profitable. Margin/leverage is not necessarily a good thing. Just a thought:)
More...

This is the heat I was speaking about the other day.
 
Quote from optioncoach:

Sorry, lol I meant 2770 for 12 pip loss..
More...

So you're the current reaction high eh? :)

I just cannot bring myself to use a stop that's less than 100 pips. At least initially. Once the trade shows profit or bonafide reversal, I adjust.
 
Yes I was successfully shaken out lol....

Quote from Buy1Sell2:

So you're the current reaction high eh? :)

I just cannot bring myself to use a stop that's less than 100 pips. At least initially. Once the trade shows profit or bonafide reversal, I adjust.
More...
 
I am going to stay short the Euro FX and Pound Futures that were taken intraday today. The Pound is weakening on the 60 minute chart and the Euro as well. I will be using a trailing stop on these as opposed to profit target for now. Limit order to buy the Dec Pound at 1.2730 is cancelled.
 
Quote from Buy1Sell2:

. Limit order to buy the Dec Pound at 1.2730 is cancelled.
More...

I mean 1.8730 of course. These quotes between the Pound and Euro Fx are getting confusing with the 7 in there. :)
 
EUro had an inside day yesterday after gap up and nice move higher the day before that on the daily chart. Not to disagree with my experience Fx friend, but I am seeing a peek bottom and indication of move back higher in the Euro in the 60 minute chart.

Also seeing some bullish confirmation in the 15 minute chart.

Therefore went long the Euro (DEC) at 1.2754 with a stop at 2718 which is below the low on Monday. If it does not pierce and close below that low then the short-term reversal shoudl continue.

if it does break below 2718 and close there, then the Friday low of 2658 is another support level which if broken will make me go short for the long-term.

Quote from Buy1Sell2:

I am going to stay short the Euro FX and Pound Futures that were taken intraday today. The Pound is weakening on the 60 minute chart and the Euro as well. I will be using a trailing stop on these as opposed to profit target for now. Limit order to buy the Dec Pound at 1.2730 is cancelled.
More...
 
The Pound Hourly chart is setting up the same pattern that provided a shorting opportunity on the 15 min chart Tues. Staying short for now. Euro Fx hourly is bouncing, but I will defer to the double top reaction high of 1.28110 for now and stay short.
 
what are the hours that you're using to for the inside day calculation?

Quote from optioncoach:

EUro had an inside day yesterday after gap up and nice move higher the day before that on the daily chart.
More...
 
You must log in or register to reply here.
Back
Top