The London Open - page 16
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Hi
Yes Bloom I shorted EUSUSD also with the break and netted a quick 37 sexy pips.
Happy days after my 35 from the GY earlier as well.
I trade FX with MB Trading. They are an ECN broker. Interbank spreads. The spreads vary but for the 4 majors i can get 1-2 pip spreads. For the GY EJ GBPCHF the spreads vary from 1-6. They jump around in high volitility. You also pay commision on top. I trade the news also and that is impossible with out an ECN broker. IMO.
I was trading futures and FX with Interactive Brokers but I'm currently looking for a good broker here in Oz to trade futures. That reminds me i was meant to do that today. In Australia we don't get the tax exemptions from useing a "Spread Bet Broker". Trust me i have tryed.
May the pips be with us all.
Jeremy
Hi Guys, I think a lot of us took that crude trade didn't we ? Managed an average of about 80, coupled with a cheeky 20 on EURJPY, so not a monster morning for me. Was playing very cautiously with the EURJPY as with a little Dollar strength coming back into play and giving some imptus to the upside on USDJPY this was always going to be a problem. It's a funny awkward pair to trade, as a strong Dollar = USDJPY up and EURUSD down, so a weaker Euro and a weaker Yen.Best traded long when either EURUSD is bullish and USDJPY shackled between moving averages and boxed or when USDJPY is bullish with EURUSD stuck between support and resistance levels.The opposite is true for shorts. (no, not speedo's) As for the quoted prices with the brokers, it doesn't really matter what the quoted price is. My spread-betting firm's quote now on FTSE is 5867 when my chart is saying 5877. So long as my chart moves 50 pips, then so should the spread betting price.If your Crude price is Brent and not U.S then it will differ again slightly, then again if you look at the difference between the July & August prices.It's all relative but this morning it moved 100 pips everywhere, on every chart and with every broker. Worth bearing in mind. I don't even look at the quoted prices. When something moves I hit the button and hold tight. What else is cooking. Oh yes, shame about the GBPJPY Fran & Scropion jnr.That's the thing when you're not comfortable trading a pair isn't it ? I sweat a lot when I'm in an Oil trade in the Afternoon. I'm not 100% comfortable with these 500 pip spikes, but I'm getting there. Just keep my stop in the right place and my exposure reduced.I think there are several firms doing less than the standard minumum stake.It might be worth having a look and halving your stake on the GBPJPY, GBPCHF, Crude, Gold and of course, my old favourite the Kazakh/Mongolian ! What's coming up then. Looks like more Dollar strength. The question is : How long can it last ?Not looking to get carried away but I like the Crude oil lower if it can get below $134.00On the currencies, I've missed the moves due to typing this, but hey, you guys are worth it. Have a great morning. I'll be back later.
Not sure when writing this whether I will live to tell the tale on e/j. Still in, but thinking will it or won't it. Thought about cutting, but am going to see how the trade plays out. May see a change in fortune. Are u sure about crude. It does look heavy, but the NY open seems to have it moving North each time London sends it south. I'm too scared to play with the black stuff (although I do like a drop of Guiness!). Thanks for the input. Vive Le Pimp
what do the colors mean on the CCIs???
Hi Sarah,
we trade using a spread betting account in the UK so don't actually trade through MT4, we just use the demo software for the charts.
so we use alpari MT4 for currency charts and odl for gold / oil charts, but trade through spread company.
Phew - just waited for e/j to finally get in to profit. Closed at 165.72 for 7 in the end. That took ages. Well, at least it felt like.
a spread betting account? what is the difference between this and fxdd or alpari? Any recommandation for spread betting account providers?
Rockdrive it has a good set up and could head lower now. 50% retracement with resistance on the 1hr 50MA.
The GY is the same perfect 50% retracement bouce off the 1 HR 20 EMA.
I have an order at 35 but I have missed the boat. Now at 10.
Tyring to squeeze a few pips but have missed entry. Oh well look for next trade or maybe get filled on spike up.
Jeremy
Thanks scorpion!!!
-'a dan template to install' = what is it?
-I have my M15 charts with: 80EMA, 200SMA, 800SMA, CCI84 and CCI21. Is this correct?
-What is the heiken ashi? What about T1 or T2 or T3?
-Am I done with the settings? Am i ready to start learning more about the entries, exits, crossovers, stop losses etc... ?
I can't stop thanking you for you help!!!
S.
Rockdrive it has a good set up and could head lower now. 50% retracement with resistance on the 1hr 50MA. The GY is the same perfect 50% retracement bouce off the 1 HR 20 EMA. I have an order at 35 but I have missed the boat. Now at 10.
Hi Jeremy - I think it looks good at around 165.50. On 4 hourly set looks for good for fall south of 50 plus pips. Going to keep looking and see if another entry comes my way. Appreciate the feedback. By the way my name is your name!!!! but love my alias.
J
Rockdrive
Excellent you are obviously a great guy. I have yet to meet a Jeremy that wasn't a true champion. Good on you.