The Fx London Open - page 2
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Hi all
With Crude breaking up, the GOLD rallied which means no down move on EURUSD...
Shows to be patient and follow these commodities for direction.
They are the ball players for the USD.
Dan007
Hi Dan007
As someone new to trading I have a lot to learn.
The forex markets were very choppy this morning, they didn't seem to be moving far before changing direction.
Is this normal? I am only paper trading at the moment but none of my trades worked very well or got stopped out.
Am I missing something?
Please help!!!!!!!
Thanks
difficult trading conditions today, but the good news is with this strategy that Dan has developed, it can keep you out of the high risk trades and preserve your capital. It gives you the confidence to be patient, safe in the knowledge an opportunity will arise using this system and it will be a high probability trade.
Paul
difficult trading conditions today, but the good news is with this strategy that Dan has developed, it can keep you out of the high risk trades and preserve your capital. It gives you the confidence to be patient, safe in the knowledge an opportunity will arise using this system and it will be a high probability trade. Paul
Thank you Kopite
I am pleased I am not the only one to find it difficult today!
I like the look of Dan's strategy but still have to study it further to fully understand it.
Hope you don't mind me asking lots of questions
Thanks for your reply
LPL
Nice
Well,
A sneaky 63 pips out of cable was my only play of today.
Missed the EURJPY which was a bit unfortunate. No change it rates in Switzerland wasn't taken very well which gave some much needed oompf to USDCHF, which in turn saw EURUSD fall which - with USDJPY still looking offerred - gave a nice little 60 or so pip move south for the EURJPY.
I am a bit mad with the whole correlation thing. I know it keeps me out of a lot of trades but it keeps me out of far more bad ones.
If anyone is thinking 'over-analysis-paralysis', please let me know and I'll keep it to myself in future
Have a great day.
Hi all
Anyone get kicked into Gold as discussed earlier today...
With GOLD breaking USD weakness comes into play...
USDCHF and GBPCHF trying to move lower... GBP is trying to stay up against the USD though....
Remember these are in and out trades... Harsh conditions means we change strategy and keep things tight.
Cako called EURJPY very well today but stayed out as no other currency pair was moving...However u must not worry if u miss a trade.. Look at the bounce off the 200ma...Thats my 60min 200ma.
Dan007
FTSE looks interesting...80 small support...Need DOW to behave through 12,000...
Dan007
Hi all
FTSE went well... 50% taken and waiting for rest...
GBPCHF is misbehaving as per usual but USDCHF has support below which is annoying... Patience is key here... Watch CCI's for cross...
Dan007
Difficult trading again today.
We paper traded today as we were not sure what direction the dollar is moving. With oil unpredictable especially in the afternoon (hope no one got caught out) and the DJI falling off like it keeps doing, it's very difficult to confidently trade long with the dollar.
Best trades were the USD/CHF long, as it created a higher low on the 15 min chart this morning & moved through the daily 50 M/A for a great long trade.
Later on we spotted a long GOLD trade as it broke through the daily trend line & 50 M/A.
Hopefully Gold will keep out of this broken trend line & stay long for next week. Hopefully we will see direction for a weak dollar & therefore get the direction right for the currencies.
Enjoying working with you all,
Simon.