Ivan's Trade Thread, part II
- Thread starter Ivanovich
- Start date
I did not take the long trade from the EUR/USD lows since we made a lower low, but looks like it would have been a good trade.
I am looking to now get short the EUR/USD as we have been retracing the fall but I don't see how Europe is now any better than the USA.
I am looking to now get short the EUR/USD as we have been retracing the fall but I don't see how Europe is now any better than the USA.
A basic question:
What do you do with the balances in other currencies that you end up with. For example I traded USD.CAD and EUR.JPY and now I have a whole lot of CAD and Yen balances which in itself is FX risk which I would prefer to be without. When I traded, I used the same quantity for both sides of the transaction hence the residual in CAD and JPY. My base is USD. It will be a pain to adjust quantity when you close a trade as the nuetral quantity will depend on the traded price. I'm sure that's not the way to go. I trade at IB. I know I can get out of these balances by trading them for USD and pay another bid-offer spread. But thought I'd ask what others do about it.
Thanks.
What do you do with the balances in other currencies that you end up with. For example I traded USD.CAD and EUR.JPY and now I have a whole lot of CAD and Yen balances which in itself is FX risk which I would prefer to be without. When I traded, I used the same quantity for both sides of the transaction hence the residual in CAD and JPY. My base is USD. It will be a pain to adjust quantity when you close a trade as the nuetral quantity will depend on the traded price. I'm sure that's not the way to go. I trade at IB. I know I can get out of these balances by trading them for USD and pay another bid-offer spread. But thought I'd ask what others do about it.
Thanks.
Sorry for the late response. I use daily pivots, which are easy with the Oanda charts. You can calculate them by hand, tedious to say the least. You can find calculators online, and input your numbers, which is more accurate than reading someone else's.
Time zones, plus or minus GMT can skew the numbers.
Quote from rsikit:
How do you guys manage to sit at the computer for hours? My hemorrhoids are acting up again.
I sit on a soft pillow and stretch my legs every 15 minutes or so. I recommend you buy good quality hemorrhoid cream.
forex-forex
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Trading guru
www.actionforex.com is great for pivots etc...someone told me about them this week...
Quote from forex-forex:
I sit on a soft pillow and stretch my legs every 15 minutes or so. I recommend you buy good quality hemorrhoid cream.
I'm in group D
forex-forex
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Group D-for-Duncehttp://elitetrader.com/vb/showthread.php?s=&threadid=130950
Don't use too much of that cream if it's designed to get rid of hemorrhoids forex-forex, you may disappear altogether!
Wow, what a day, ya gotta love that Eur/Aud pair
53 trades, 47 wins +543 pips, 1 b/even, 5 losses -16 pips, total +527 pips!
Sooooooo, you like that pair, eh Cable?
Some fine scalping.
Scalping was an art performed by native Americans, like the ones displaced by our pilgrims, your ancestors, who landed here in 1620, not more than 75 miles from where I live. True story. So, the whole thing sorta comes full circle. On Thursday we eat turkey, and give thanks. For stuff.
I worked pretty much all day, traded briefly Monday and Tuesday, up 64 pips, looks like you found all the sweet spots.
Some fine scalping.
Scalping was an art performed by native Americans, like the ones displaced by our pilgrims, your ancestors, who landed here in 1620, not more than 75 miles from where I live. True story. So, the whole thing sorta comes full circle. On Thursday we eat turkey, and give thanks. For stuff.
I worked pretty much all day, traded briefly Monday and Tuesday, up 64 pips, looks like you found all the sweet spots.
Quote from cabletrader:
Don't use too much of that cream if it's designed to get rid of hemorrhoids forex-forex, you may disappear altogether!
Wow, what a day, ya gotta love that Eur/Aud pair
53 trades, 47 wins +543 pips, 1 b/even, 5 losses -16 pips, total +527 pips!
Way to go, Man! You're an inspiratioN!
