Fx futures Journal

Discussion in 'Journals' started by Buy1Sell2, Feb 14, 2006.

  1. I'd be careful of U.S. home sales data coming at 10:00 EST.

    RoughTrader
     
    #221     Aug 23, 2006
  2. Buy1Sell2

    Buy1Sell2

    Yes, Thank you for the heads up! I don't ever know when reports come out as I position trade (other than the Non Farm and the Fed meeting). Hopefully that would give me some better prices to short otherwise I will be selling on momentum below today's low of 1.2805.
     
    #222     Aug 23, 2006
  3. Buy1Sell2

    Buy1Sell2

    I will be stopping myself in to another short position at 1.2790(Euro FX):)
     
    #223     Aug 23, 2006
  4. Selling below the low of the day??
     
    #224     Aug 23, 2006
  5. Buy1Sell2

    Buy1Sell2

    yes, it' a longer term play. This area of 1.2800 has shown support a couple or three times. I feel it is significant if we trade at 1.2790.
     
    #225     Aug 23, 2006
  6. I like that strategy, I like to play momentum like that. I found picking tops and bottoms is a fool's game- at least for me.

    Good luck:)
     
    #226     Aug 23, 2006
  7. Buy1Sell2

    Buy1Sell2

    One thing to remember about fx futures---big moves can have their beginnings at absolutely any time of day--not just during the morning report times. Sharp traders will look towards the closing prices as well for indications. Closing price is the most important price of the day.
     
    #227     Aug 23, 2006
  8. wwx

    wwx

    Interesting. Would you consider this to be a classic trend-following approach?
     
    #228     Aug 24, 2006
  9. Buy1Sell2

    Buy1Sell2

    Well, sort of with the following note: I am initially trying to find reversal areas and then I follow the ensuing trend. In that sense it would be trend following. Classic trend following has the trend underway before one enters the trade. Now my entry at 1.2790 last night does not appear good at the moment, but we'll see.
     
    #229     Aug 24, 2006
  10. Buy1Sell2

    Buy1Sell2

    This market is a little frustrating at the moment--This is why you must have patience to be successful. I will be stopping myself in to another short when we hit 1.2823 as I feel there is good potential for a downside market the rest of the day. :)
     
    #230     Aug 24, 2006