Forex Trading

[marcus300]

Here are some charts of the Euro/Usd, the first one is the daily chart, then the 4hour chart and then the 1 hour chart. I will look over the 3 times lines to before any trade is took unless its a very short term daily trade then all I will do is look at the 4hr and 1hr times and see if everything lines up well.

Normally you can mark whats happening on the day on the chart line options, bids,offers and any heavy money being injected into the market. Once you way up the information you can start planning your trade with the higher probability is on the side of the trade your going to take. You have to ask yourself why is this trade worth taking, can show why its cheap and needs buying or expensive and needs selling either short term or long term. If you cant answer these questions you shouldn't take the trade but if you can and you can define risk and limit this by using certain tools then the trade is worth taking.

I don't normally have a set TP (take profit) but I will have an area were I will be looking at closing the trade out, it will all depend on how the trade is working out because this market is moving all the time and its very organic and things can change easily which may effect your trade so many times I will manage the trade unless I am going for a medium term or longer term view, then you can set the trade up take it and leave it until your SL or TP is hit. I trade both styles but much prefer shorter term trading because news can completely wipe out your analysis and take the price off into a completely different direction, so monitoring or setting alerts is the way forward.

[marcus300]

Over sold areas which will respond in a reaction if coupled with other areas of interest. Also crossing the oversold areas with other oversold areas on different time frames will increase the probability and again if these line up with lets say London close or some heavy bids coming in or heavier options above then you can plan your trade.
You don't just take a trade on ONE area of interest especially if its an indicator telling you, you will need other hard evidence to line up to give you more of a % that the probability is on your side than the other.

The chart is a 1hour chart - so it would be shorter term trade

The euro was in a downward trend or weak this week which means its only ever going to be oversold and not overbought, so line these areas up especially if they come at a certain time of day or other answers come in to solidify the trade

The price was worth trading for short term gain on all areas when it flagged up oversold - just looking at that one flag looks good on the chart but if you go deeper into each area there will be one of those a higher probability of one of those winning.

[marcus300]

Been up most of the night. Took small trade but didnt work out as planned so cut it l.

Going to check all news and talk to a friend see what's happening on the markets

[marcus300]

I know this threads seems to get a lot of readers and watchers but not many questions so I will carry on in hope someone will take an interest

Not much happened today, I was up most of the night checking things out but didn't work my way.

Usually I will check the daily/weekly news calendar to see if any kind of news would knock or impact the currencies I will be trading. I do trade medium term, some long term and mostly shorter term. Reason being if I am trading shorter term I can get in and out before any bad news or good news comes along and wipes all my trade out due to someone saying something or some major event in the world or the usually central bank guys voicing an opinion. So I would rather be in and out before anything can go wrong and if I have a strong conviction I will trade heavy with these types of trade.

Medium and longer term trade I will only use small positions which will be built up over time, they can this layering into a trade amongst many other terms but I will layer my trade in as it swings in my favour but if I go under water with it my position is only small so I can trade my way out of it or increase my positions depending how things look on it on that day.

Because I am extremely busy these days I don't have the time to trade like I use to so I have to be careful incase I trade for the sake of it and do something stupid with any real time evidence of taking the trade. Many things will have to line up for me to take a trade normally and this puts the probability more on the side of my trade and I will then manage it via my trading station. Things can change because its a constant moving market so I can be rigid with the trade I will move things around according the PA and news.

I do trade the news which is a good solid event to trade but these days there are so many false breaks I prefer being out or hedge during a major news event, ive lost during these events before and to be honest its a 50/50 thing and that's not the way I trade, I prefer the % far more in on my side. I like to track and follow the big money and piggy back them and get off and take the money, I don't do what most retail traders do because most retail traders lose so that should tell you something.

[marcus300]

Busy again today but ive started to get some information through, hopefully I can stop and have a good look at my screens and see whats happening

[marcus300]

German manufacturing PMI 56.8 vs 57.9 expected

weak number is really forcing the Euro down to the lows

[marcus300]

My stops got hit today on all my longer term trades. I still confidence but can't catch a falling knife

[Mr.BB]

My stops got hit today on all my longer term trades. I still confidence but can't catch a falling knife

Wait till Italy fixes its political mess.

My crude shorts hit profit taking somewhere during the day, didnt even noticed it

[marcus300]

Wait till Italy fixes its political mess.

My crude shorts hit profit taking somewhere during the day, didnt even noticed it

Its the game we are in, comes in waves

[hammerheart]

Wait till Italy fixes its political mess.

That might take several month, we talking new useless elections after summer then back to starting point lol, either that but there's still a small chance of setting up a gov soon-ish, I hope for the latter solution otherwise we are in some deep sh-t

[Mr.BB]

That might take several month, we talking new useless elections after summer then back to starting point lol, either that but there's still a small chance of setting up a gov soon-ish, I hope for the latter solution otherwise we are in some deep sh-t

Market just needs a definition of some sort of certainty, and it will level it self. But when another event comes along this will be forgotten fast.

[marcus300]

Market just needs a definition of some sort of certainty, and it will level it self. But when another event comes along this will be forgotten fast.

Volatility drives the market

[hammerheart]

Market just needs a definition of some sort of certainty, and it will level it self. But when another event comes along this will be forgotten fast.

For what's worth, the mess is finally sorted, the parts reached a definitive agreement so we got a gov now, though it's not official yet.

[Mr.BB]

For what's worth, the mess is finally sorted, the parts reached a definitive agreement so we got a gov now, though it's not official yet.

That was yesterday according to the graphs

[hammerheart]

That was yesterday according to the graphs

You know, what's funny is we electors got told this particular gov was refused by head of state cause of those graphs (especially BPT-bund spread).

[Mr.BB]

You know, what's funny is we electors got told this particular gov was refused by head of state cause of those graphs (especially BPT-bund spread).

Ok, now I understand why EUR is suffering. Its why im not day trading actively nowadays, one needs to be on top of this subject on the second.

[hammerheart]

Ok, now I understand why EUR is suffering. Its why im not day trading actively nowadays, one needs to be on top of this subject on the second.

There's ongoing speculation the new so-called populist gov in Italy has plans leave the eurozone or even the EU, which is pure BS, either that or is going to get kicked out for planning deficit expenditure, so that to further raise public debt, the whole thing being incompatible with EU rules (neither are ever going to happen).

We are currently getting hit by a shitstorm by German media and the EU commission head Junker, which consist oh well, you know, Italians are lazy, corrupt, and so forth...

[Mr.BB]

We are currently getting hit by a shitstorm by German media and the EU commission head Junker, which consist oh well, you know, Italians are lazy, corrupt, and so forth...

Yeah, not the first time they say such things, although both our countries could do with a little less corruption in state.

[Mr.BB]

Gold is going down!

[marcus300]

Gold is going down!

No more safe haven

[Mr.BB]

No more safe haven

Concerns about safety have been removed.

I'm short on it, grabbed @1305, profit taking at 1287. Considering if should take this into weekend, fees are always high on gold.

[marcus300]

Concerns about safety have been removed.

I'm short on it, grabbed @1305, profit taking at 1287. Considering if should take this into weekend, fees are always high on gold.

Yes indeed wise move

I was looking for the other side of the trade to be honest before I enter so maybe next week I can start building some positions the 1200 mark does look best though

[marcus300]

Gold 1296.52 −1.38 (−0.11%)

[Mr.BB]

A lot of moving parts on eur/usd, but I'm thinking of opening some long positions.

[marcus300]

A lot of moving parts on eur/usd, but I'm thinking of opening some long positions.

I didn't trade the open for various reasons but I would like to see some further bad numbers coming in for the Eurozone then I would like to start to build long positions for the medium term.

I'm suppose to be getting a telephone call from a friend of mine with some information on the E/U & GBP/USD when he gets in work, nothing inside or anything just some info regarding positions of the bigger players what could look strong

[marcus300]

Options for New York cut



Opening prices

free picture upload

[Dankoo]

nothing inside or anything just some info regarding positions of the bigger players what could look strong

Damn, it was getting very interesting

[marcus300]

some big ones floating for the New York cut today
e/u a 2.04bln and a 1.09bln


image upload no limit

[Mr.BB]

Went short on nasdaq on monday, suffering a bit

[marcus300]

Went short on nasdaq on monday, suffering a bit

Hang in there mate....Is it close to being stopped out?

Ive been gathering some info which I will post very soon once I get time to post properly, I fancy doing some longer positions plays due to my work schedule and unable to really day trade. I do believe some strong moves are on the horizon to take advantage of

[Mr.BB]

Hang in there mate....Is it close to being stopped out?

Ive been gathering some info which I will post very soon once I get time to post properly, I fancy doing some longer positions plays due to my work schedule and unable to really day trade. I do believe some strong moves are on the horizon to take advantage of

Stopped out? no way, only using 4% of my margin and that includes nat gas positions. I play in the little league lol

Yeah, thats what Im doing longer positions plays as no time to stare at graphs, although this nasdaq position was supposed to be intraday, but my analysis was wrong.

Do tell on the strong moves you are foreseeing

[marcus300]

Stopped out? no way, only using 4% of my margin and that includes nat gas positions. I play in the little league lol

Yeah, thats what Im doing longer positions plays as no time to stare at graphs, although this nasdaq position was supposed to be intraday, but my analysis was wrong.

Do tell on the strong moves you are foreseeing

At the moment the price on the majors what I am looking at is what I call in-between. This is where the retail investors are trading and also building positions. I will wait till the bigger players start getting involved and start creating liquidity by running stops of the retails and smaller firms to open up a certain price to fill their orders. It may happen ir may not but from what I am hearing its building and only a matter of time before it starts to run off into an area were I can start accumulating positions for the longer term and also the intra day. If I trade now I feel I could get stuck and end up under water so I will wait till the price gets shifted and the stops get tested.

[marcus300]

Ok, some bad news heading in today on the GBP - so why not run some stops

Check out the price bouncing off the 100ma - hopefully it will drive past it.

Lets get the price to run a few hundred, floors are opening up and bigger players and off loading at a great rate today.

[marcus300]

What a reaction off the 100ma. Prefect retail trade

I'd rather see some downside now

[marcus300]

hack attack on South Korean cryptocurrency sent sent bitcoin in a downward spiral.
Coin traders either see this as an advantage to buy more or a trigger to sell more.

[marcus300]

Should see some volatility this wk which will be a trigger for my entries.
E/U
G/U
U/J

[marcus300]

E/U looking for a drive to the downside over the next 2 days.

[marcus300]

Short taken at the pull back and round number. Stop is 50pips

[marcus300]

Just to clarify what I said above I'll post the chart,
London open showed some weakness due to many issues going on but I got some news that there are huge offers being placed, so I waited for a pullback and it came at the round number so I took the trade at the blue line 11800 and put a stop at the 50 level. This trade is slightly higher risk than my normal ones due to news being released today and various things happening around the world but this trade is purely taken on the amount of offers being place around 11700, there is around a 30 pip layer of offers ranges all the way down to the round number and up to around 30pips above, I know there are some big options flowing off today and tomorrow so this trade is placed just on the offers and bids.

It put down a take profit because I will openly manage the trade with alerts and I may start taking some off as it goes down but I will decide on the price action at the time and the news. The trade can easily be knocked off and my stop hit if news flows turns positive but there are far more plays below current price so that's why I have taken it. I'll come out at anytime if things change but hope this helps who is interested in FX

[marcus300]

update - was close to selling part of the trade but didn't due to the weakness in the of the price getting over the round number, so still in the trade but could get interesting at London close