Here’s a thread for you Thursday/Friday traders to use to stay in touch.
Maybe you’ll have more volume then the beginning of the week to work with. Boring, boring, boring right now!
Be good to you!
Triffany
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at FXStreet.com and heads "The Human Element" a blog dedicated to trading psychology at ForexMotion.com Want to know more? She was recently profiled in "FXStreet.com's Women in Forex" Series.
You can contact her at Triffany(at)Triffx.com
There was good volume GU dropping from 1.48 to 1.47……….. 130 PIPs……….
Triff ~
You need to start scalping with me. That’ll cure your boredom!
Cheers, kelly
share your scalp setups if you want us to join you
My setups are so quick I’m afraid I’d never get them posted in time. In general, I trade the Eur/Usd on the 30 second chart and 1 minute chart. Primarily trade on MA crossover and lately with break of trendlines. I aim for anywhere between 1 – 5 pips a trade; sometimes hanging on for a few more if the move is quick enough. And, so far, this strategy works well at variety of time frames during the day.
If anyone else scalps, I’d love to hear your strategy. Thanks.
Wow, 30 seconds, still time to blink.
Certainly the fast and the furious there Kelly, requiring a different personality/makeup to what I have.
I gather most scalpers would only trade around London/US market opens or overlaps or news for most momentum.
Someone who used to run their own brokerage mentioned that out of 100 or so of the top accounts he analysed less than 5 were successful scalpers, around 1/2. Personally, I think they’re a ‘dying breed’…. alot of forces to overcome, more than usual. Still, I just love how this business caters to virtually all styles… there’s nothing quite like it!!
In fairness the top accounts tend to be the people who have been in the biz for a long time and those guys might well have built their accounts as scalpers at some point, but later become longer term traders simply because they want more time on “The Naughty Lady” (their private yacht in Monaco. (possibly with a naughty …. cough cough
) so its hard to tell.
PS Yaqui whats your avatar, it looks like a bunch of pink flowers ?
Ah, you’re absolutely right Aby, good point!
Trader evolution…. as lifestyles change or new knowledge etc….
Re: my avatar, nearly – here’s some bigger screenshots.
One of the highlights of my year, hanging around in ‘La Fura dels Baus’, google for some great youtube videos.
http://www.screencast.com/t/ZjE1ZTkzNGYt
http://www.screencast.com/t/ZDEwODc5Nzc
Hi Triff, wonderful day? I’m new here so thanks for the thread, need to stitch some of the holes in my pockets and fill with dollars $. How about that scalp lession.
thanks for the help that I have recieved from you webinar post yesterday
Anyone willing to short EU for a little pullback?
I’m your huckleberry. Looking for 2340′s, small position.
Finally some oomph towards the latter end of the week hey… Swissy news, yen pairs, even Gold looking at new highs.
Is anyone longing the NZDUSD ? I am short also USDCHF … otherwise the rest of the pairs look a bit too uppy downy to trade … unless we go down to the very short time frames …
I’m short the Aussie, similar view on the NZD. PT 6970s
Only short term positions for me now, a bit volatile out there and end of week and quadruple witching tomorrow for some more spookiness.
The SNB announced that its going to fight excessive appreciation of its currency, hence teh sharp rise in the CHF … have I not understood something ? the Bank says we going to stop the rise presumably by intervention, so everyone buys the currecy ? wouldn’t they all sell it ? anyone ?
This is what I have – “It noted that the deflation risk had largely disappeared but would act as
needed if CHF appreciation threatened deflation”.
I think the SNB have relaxed their stance re: appreciation now, so the dam has burst.
Not to mention the fact that the world is kind of tired of USD dominating the ‘safety’ scene. They’re looking for something else to buy when times get tricky…this was what they needed/wanted in order to diversify their holdings.
Aby, NU TP at .70675 or .70965?
I’m kinda hoping this thing will pop up to about 0.7120 at least if not 0.7150
Looks ambitious, but I will hope along with you…………
I think we are in Jerry’s most favorite trading conditions!!
Currently short spot Gold, bearish bat harmonic on 1 and 4 hour chart – http://screencast.com/t/YTQyOGI0N. PT 1234, SL 1255
Pretty volatile out there today with news and risk, pushing gold up close to all-time-highs. Am comfortable taking this with ~ 1:2 RRR and other confirming factors:
- 178.6 extension of BC leg with convergence of prior Resistance
- also an AB=CD pattern completion in price but not time (orange lines)
Price has pushed up to 1250 as I’m typing this, have scaled in another position, same SL.
Crazy how that G/U just barely tagged that 50 mark we talked about yesterday…looks like it is time to roll over again!
Thanks Trif, but I have lots of challenges on my mind and am not really trading.
I have only one position………… long NU
I am concerned about the NU long position… 1 and 4 hour candles look like this puppy may dive… other thoughts?
Depends on the time frame you are trading from, Its difficult for me to say … I am sitting on this for now, but maybe I am wrong … it wont be the first time !
I have a short bias but it could easily squeeze 200 pips higher.
It’s at an interesting zone though, prior S/R and big round #.
Thanks, Aby and Yaqui
Of course the time frame makes a difference…. Looking at the daily, it looks OK and yet vulnerable to retrace……….. No guarantees in this business for sure………. So where ever it goes, your feedback is very much appreciated!!
I am not really trading for now…… side issues have my mind. cheers folks
Interesting news re: regulatory overhaul in the UK – the FSA to be replaced by three separate bodies headed by the Bank of England.
http://www.ft.com/cms/s/0/0203b99e-797f-11df-b063-00144feabdc0.html
Given the already high safety value of UK segregated brokers in general, one wonders how this will affect the retail environment.
Thats big news, especially considering a lot of our US brothers are now secretly trading in the UK to save themselves from their policies, I hope this new body doesn’t decide to flex its muscles and do something stupid … or next thing we know an off-shore account isn’t gonna be good enough we are all gonna need off-earth accounts … yes sir my office is based on the moon … I realise it doesnt sound like it on the phone, but I do have to redirect my calls to India !!!
People are allergic to change, as well….so…big changes like this usually develop into risk aversion…maybe more reason to by the market’s flavor of the month – CHF??
Ascending triangles everywhere!!
Haha, yep!
Pop went the Pound, stops at b/e for me now on the breakout.
In case you think the FSA lords of UK regulation will come down on you – move your account to FxPro in Cyprus…………… I use FxPro and find them very good. Better than FXCM
Although I love the FxPro platform and their plethora of instruments, I’m really averse to having significant accounts in places like this and Belize etc. The regulatory environment, safety of funds etc. is paramount for me and having money in my home country is hard to beat. Granted I do believe in diversifying between brokers and having different accounts for different trading, longer vs. shorter term etc.
Thoughts?
Yaqui, Totally agree……….. I am quite suspicious of Cyprus….. but frankly I have been disappointed with the performance of FXCM in UK. I am skeptical of all the platforms, and many have merit, but I refuse to have anything in the US…. The US government is capable of and might well be worse than Cyprus. US government, in my opinion, is as corrupt and evil as any that I know… just my opinion (but also similar to many knowledgeable, intelligent individuals — kind of a sad state, isn’t it?
Thanks Jerry.
Choosing a broker is a big bone of contention among traders, and it’s hard to know what to believe especially when starting out. At least that’s how it was for me! Horses for courses really though…
I believe there are many that offer win-win situations now, not like the wild west of the old days. And yes, I have no doubt there are shady aspects re: US Govt; there are many white hats too…. but that’s another topic.
Isn’t Cyprus in that Greece country ? I’ve heard about that country what was it again ? oh yeah, isn’t that the country that went bust ? yeah and the whole of europe has to lend them money … and what was it you wanted me to do ? give them more money ? remind me again ?
Well, Aby, How about rattling off 4 or 5 countries with sound finance? Good luck if you choose UK or US…………. I am not recommending any platform…….. At the moment, I can’t execute a transaction on FXCM because its “OFF QUOTES” meaning that all orders are rejected and you can’t exit a position. As I say, I am not suggesting any platform – one way or other. Hang it all – If I had your money, I’d just go on the naughty lady ship and relax
Lol Jerry.
Aby does have a valid and interesting point though, it definitely makes you wonder. They’ve certainly stepped up their sponsorships with car racing and now English football.
Anyone looking at shorting EURUSD? or are you long because its at the bottom of the 1 and 4 hour channels?
It is taking a bounce off the 1.242 line I have drawn and this could be a turning point to for a possible 100pips or more but I am still viewing this thing on the longer term picture which I see it hitting 1.25, so I am staying out of the short for now, but its a good idea
Yaqui, It is hilarious to me that car racing and English football, and T shirts have any imaginary relationship to what people seek when searching for a trading platform – and I told them just that
To me, its a sad large negative ……….
Formula 1 is a rich mans sport … fast cars … boys toys, thats why they have one of the top races in the streets of Monaco thats exposure for you, and football pretty much covers the rest of the human race. No one ever made big business using posters in the FSA head office !
Aby, that is exactly what I see for the EU………. a quarrelsome trip south before heading north…. but I am short for now
Formula 1 is a rich man’s sport to sponsor, but from what little I’ve seen, the spectators do not really meet the criteria of what I consider a “rich man” Perhaps I am not connected, but think I disagree..
But I very much respect your trading skills…. 
This is a vid from FT.com (apologies for those who might not be able to see it) the upshot of it is that there is some leading indicator out there (which is a big secret ) which is predicting a further fall towards a second recession rather than what people see now as just a slow recovery and apparently this indicator has good history … as i see things right now, investors are getting more frustrated about being out of risk that they are now trying to help, which is a change … this might work for us …
http://video.ft.com/v/96870957001/Jun-17-Leading-economic-index-suggests-double-dip
Food for discussion / dismissal……….. USDCHF. Daily: hasty drop from 1.19380 to .9380 then back up to 1.1743 (above the 71.8% fibo and now possibly returning to retest the 1.092 area – about 150 PIPs. On the 4 hr price is at the bottom of what I would refer to Triffany’s muddy area where it consolidated before. Maybe it will bounce north from here to the top of the muddy area then retrace south, breaking the muddy area support and go for 1.092 area. Following this train on the one hour – price might bounce off the 1.108 retracing maybe to 38.2% / 50% fibo to 1.12 and retrace to the 1.10 TP 1 and 1.092 TP2…………. Now, if anyone is interested in refining that, refuting that or confirming that, might be an interesting Friday exercise……. Sorry, Aby and Yaqui…. my plan is not really up to you guys, but its an idea………….
Anything you say is good for me … I’ve been short USDCHF for a while now, so any short plans are good with me so long as they get shorter !!!