Well, if you want a price the pair wouldn't touch, I suppose you must SELL the options? Aren't there options on the CME forex futures? I think so.
Not necessarily. Refco doesn't structure their options - I don't know if this is typical of forex options - like regular options; there aren't puts or calls. I also can't sell options through refco; the way around it is they afford various conditions that sort of mimic puts and calls. I'm sure there are options on the CME futures, but I don't have a futures account just yet. Truth be told, now that I've been playing around with it a bit, I think there's more potential in the refco options. I'm sure I'll find out soon enough.
I also use a moving average. I have some more tweaking to do especially for exits. Couple of times, I took my profits at resistance/support and then the trend continued like crazy--I couldn't believe my eyes. Then I started letting the profits run and trail and ended up leaving very nice profits on teh table. I guess the answer lies in scaling in and out... When do you take profits? Do you scale in /out? Thanks, Chinook
Which ma's do you use for exits? I have tried everything. Trailing stops. Scaling in/out. Support/resistance. You name it. But I have not found the holy grail yet. I am also leaving very nice profits on the table.