Weak pound, at least it will boost our manufacturing and exports...

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DimPrawn replied

13 March 2013, 14:57
Originally posted by suityou01 View Post

And I was right. Figures announce and 40 pips swing south.

I fear for sterling

You should have opened a counter trade and pocketed those 40 pips.
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suityou01 replied

13 March 2013, 12:35
Originally posted by suityou01 View Post

I thought about doing that, but the US figures gave me the eebie jeebies.

The USD is bullish, the DJ at pre 2008 highs and I'm not sure a reversal is that imminent.

I decided to sit out for a bit, with my profits, and see if the psychological barrier of 15000 is breached. I may go back in if it is.

I'm also eyeing AUD/USD for a retracement on recent gains.

The market is quite jittery at the moment and any bit of news seems to make the market jump 50 pips.

My USD/JPY trade got me burned overnight (been running since last Friday) and all because some bright sparks misinterpreted a news article about the BOJ.

And I was right. Figures announce and 40 pips swing south.

I fear for sterling
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suityou01 replied

13 March 2013, 12:13
Originally posted by DimPrawn View Post

I got burned on a GBPJPY trade today, you can't even rely on a falling pound sometimes.

In hindhsight GBP/NZD was the trade but it looks like it's running out of legs. I'm looking into trading it back down.
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DimPrawn replied

13 March 2013, 12:03
I got burned on a GBPJPY trade today, you can't even rely on a falling pound sometimes.
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suityou01 replied

13 March 2013, 11:50
Originally posted by DimPrawn View Post

If you want to make money at forex it is better to let your winning positions run by carefully moving the stop loss to capture profit and cut your losing positions quickly. For all you know that trade could run and run and you will be missing all that profit potential.

I thought about doing that, but the US figures gave me the eebie jeebies.

The USD is bullish, the DJ at pre 2008 highs and I'm not sure a reversal is that imminent.

I decided to sit out for a bit, with my profits, and see if the psychological barrier of 15000 is breached. I may go back in if it is.

I'm also eyeing AUD/USD for a retracement on recent gains.

The market is quite jittery at the moment and any bit of news seems to make the market jump 50 pips.

My USD/JPY trade got me burned overnight (been running since last Friday) and all because some bright sparks misinterpreted a news article about the BOJ.
Leave a comment:
DimPrawn replied

13 March 2013, 11:45
Originally posted by suityou01 View Post

Looks like there's some bullish market news in the form of US Advanced retail sales coming out at 12:30.

For that reason, I'm out.

Taking my profit with me

If you want to make money at forex it is better to let your winning positions run by carefully moving the stop loss to capture profit and cut your losing positions quickly. For all you know that trade could run and run and you will be missing all that profit potential.
Leave a comment:
suityou01 replied

13 March 2013, 11:41
Looks like there's some bullish market news in the form of US Advanced retail sales coming out at 12:30.

For that reason, I'm out.

Taking my profit with me
Leave a comment:
suityou01 replied

13 March 2013, 10:40
Originally posted by DimPrawn View Post

I wouldn't put a TP at a big round number like 1.5, but instead move the stop to just below this if it gets close, incase it rockets through such a psychological resistance level.

That's good advice, will rep if I can.

Up 30 pips so far

(And in the face of the fundamentals )
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DimPrawn replied

13 March 2013, 10:30
I wouldn't put a TP at a big round number like 1.5, but instead move the stop to just below this if it gets close, incase it rockets through such a psychological resistance level.
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Ketchup replied

13 March 2013, 10:12
Originally posted by Andy2 View Post

I guess 30 pips loss then

Haha....was it?

Where's Sas when SY01 needs calling a cretin?
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Andy2 replied

13 March 2013, 10:07
Originally posted by suityou01 View Post

Decided to put my money where my mouth is. Got an order at 14943 (Monday's high), stop at 14913, tp at 15000.

I guess 30 pips loss then
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eek replied

13 March 2013, 08:38
Originally posted by doodab View Post

I thought he'd already combined the two with his homebrew experiments.

surely that's really only the case once you start your distilling experiments.
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doodab replied

13 March 2013, 08:33
Originally posted by Ketchup View Post

And so commences SY01's demise into gambling and drinking

I thought he'd already combined the two with his homebrew experiments.
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Ketchup replied

13 March 2013, 08:19
Originally posted by suityou01 View Post

Decided to put my money where my mouth is. Got an order at 14943 (Monday's high), stop at 14913, tp at 15000.

And so commences SY01's demise into gambling and drinking
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suityou01 replied

12 March 2013, 20:54
Decided to put my money where my mouth is. Got an order at 14943 (Monday's high), stop at 14913, tp at 15000.
Leave a comment: