Ivan's Trade Thread, part II

Got out of long EURUSD @ 1.3065 thinking there will be better buy points soon.

Don't know about shorting now though

-- EURGBP around 0.88 Is it an all-time high? I'll stay away from that for sure at least for now.
 
Nice trade David! I am still working with that pair on demo but looking good so far just getting a feel how it moves. I like the breakouts it has. Just trying to get over the psychological hurdle of the spread for me thats all
 
Quote from rsikit:

Nice trade David! I am still working with that pair on demo but looking good so far just getting a feel how it moves. I like the breakouts it has. Just trying to get over the psychological hurdle of the spread for me thats all
More...
To Rsikit...in regards to the EUR/AUD...what spread does your broker give on the EUR/AUD?...another think is the per pip value on the EUR/AUD...only 10 AUD which is like what $6.00 USD...so, you gotta put many lots to this EUR/AUD trade...thoughts?
 
Increasenow,

Yes I have 10 pip spread. But for all intents and purposes when I go into a trade I just always figure 10 bucks per pip as a standard lot. I use a mini account but I scale into a position. So if I did 10 lots, I would be out of the money 100 bucks of the get go. But I do it on the demo for now and will go for it live. It doesnt matter to me if I just use one mini lot on it, its just a matter of getting used to the moves and the timing of them to overcome the spread.
 
Quote from rsikit:

Nice trade David! I am still working with that pair on demo but looking good so far just getting a feel how it moves. I like the breakouts it has. Just trying to get over the psychological hurdle of the spread for me thats all
More...

London thru NY hours the spread is usually under 9. Remember, this pair eats 20 pips like nothing. Look at a current 5 min. chart.
Since 3:30 eastern it's been in a 50 pip range. That's normal!
Look back at some of Cabletraders logs. He scalps it sub-minute.
Check my earlier chart. The pivots were applied at 5:00 this morning using a daily. Must be careful of the reversals mid-pivot.
Those have ripped me a new one occasionally.
 
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