Fx futures Journal

Optionpro007 · Mar 18, 2007

Quote from Buy1Sell2:

Haven't had a chance to post here recently. I am still long in the Yen futures having rolled into June. I am long the Euro FX from 1.32360 today, but did not post in real time, so I will take crredit for a long now at 1.32740. I will be holding these positions for now.

Only Longs should be taken on Euro FX and Yen Futures.
Only Shorts should be taken on Aussie, Pound and Canadian.

--until further notice---

If you can, could you please explain to us why you believe the Pound should be traded from the short side only? I see a very bullish looking weekly 20 sma.

Thanks.

Trader KGB · Mar 18, 2007

Quote from optionpro007:

I see a very bullish looking weekly 20 sma.

That it's currently trading under (by a small margin).

Stochs, macd, RSI, all trending lower on the weekly as well..

The DX is in even worse shape though, so it's hard to be a dollar bull on any of the majors.

Buy1Sell2 · Mar 18, 2007

Quote from optionpro007:

If you can, could you please explain to us why you believe the Pound should be traded from the short side only? I see a very bullish looking weekly 20 sma.

Thanks.

Weeklies are weak on all 3. I am waiting for short signals only as they will most liley have the best potential.

Buy1Sell2 · Mar 19, 2007

Quote from Buy1Sell2:

Closed out long Euro fx position at 1.33820 in the overnight session. (hit while I slept). 108 pips gain. I will be looking for new long signals on a pullback. Still long the Yen futures

Reentered long Euro fx at 1.33530 basis June

Trader KGB · Mar 20, 2007

Quote from Buy1Sell2:

Only Shorts should be taken on Aussie, Pound

I hope you haven't been short on them this whole time.. 200-250 pip rallies in each since you made that call.

Buy1Sell2 · Mar 20, 2007

Quote from Trader KGB:

I hope you haven't been short on them this whole time.. 200-250 pip rallies in each since you made that call.

Absolutely not. I am looking for the right place to short though as I look at the weeklies. I only have trades in Yen and Euro fx rightnow.

Buy1Sell2 · Apr 10, 2007

It looks to me like we are in the midst of a basing and possible upside reversal on the Yen Futures Monthly Continuation Chart. I am long still and have added here bringing my position to full size in the Yen of 14 units.

Optionpro007 · Apr 11, 2007

Quote from Buy1Sell2:

It looks to me like we are in the midst of a basing and possible upside reversal on the Yen Futures Monthly Continuation Chart. I am long still and have added here bringing my position to full size in the Yen of 14 units.

Hi b1s2,

When you add units to your main position do you always keep the original stop (uncle point) for all units or do you base it on recent volatility and adjust accordingly?

For example in this JPY position is your stop for all 14 units under the February lows?

On another subject, I know you have changed your approach when taking a position to "all in" at once. Frankly I thought that one of the strongest tenets within your system was the 'flexibility' of being able to build a position over time.

Even if statistically speaking the change makes more money 'in hindsight', I would have considered such "flexibility" ingredient, priceless imo. (Just thinking out loud)

Hope you can comment on this statement.

Buy1Sell2 · Apr 12, 2007

Quote from optionpro007:

Hi b1s2,

When you add units to your main position do you always keep the original stop (uncle point) for all units or do you base it on recent volatility and adjust accordingly?

For example in this JPY position is your stop for all 14 units under the February lows?

On another subject, I know you have changed your approach when taking a position to "all in" at once. Frankly I thought that one of the strongest tenets within your system was the 'flexibility' of being able to build a position over time.

Even if statistically speaking the change makes more money 'in hindsight', I would have considered such "flexibility" ingredient, priceless imo. (Just thinking out loud)

Hope you can comment on this statement.

Research of my trades over the last 12 years (I have not had time to backtest the rest of the years) has revealed that on one individual trade I may have done better by averaging or scaling in, but longterm I would have been much more successful by entering the whole position at once. Reason being, that I did not have full position on from time to time when big moves occurred. --Also, stops are always determined on the charts so the stop is always at the same area. I just use correct position sizing to avoid losing more than 2 percent of liquid net worth.

Optionpro007 · Apr 12, 2007

Quote from Buy1Sell2:

Research of my trades over the last 12 years (I have not had time to backtest the rest of the years) has revealed that on one individual trade I may have done better by averaging or scaling in, but longterm I would have been much more successful by entering the whole position at once. Reason being, that I did not have full position on from time to time when big moves occurred. --Also, stops are always determined on the charts so the stop is always at the same area. I just use correct position sizing to avoid losing more than 2 percent of liquid net worth.

Got it. Thanks.