Fx futures Journal

British Pound Futures Weekly Chart--Weakening?

 

I would like to intraday short the Euro and Pound, but those pesky 5 minute charts, say no no no.

 

Stay short the Canadian intraday??

 

I have initiated an order to short the Euro FX at 1.2732 on a sell stop intraday.

 

Of course Pound ran to 8774 after I closed my long lol...

so far.... right calls... pull out permaturely LOL

 

Trailing stop might help?

 

Well the better choice is to shake out the index future daytrader metality when I am trading Fx futures. I need to set my stop up a little wide (i.e. in the Pound trade I picked below the swing low and chart pattern low (8633) and it never hit it. This way I set a predetermined loss I will take and let the position run.

For every trade I get stopped out of 10 or 20 pips, I will have 2 or 3 that will have the 50 - 70 pip profits I was missing out on lol...

Then of course as it moves use the trailing stop all the way up. I just need to push down the scalp desire in FX futures that I use in indexes

 

I agree with you. This was the main reason that I went back to position trading only in the ES. The signals and trendiness intraday are much much better and reliable in fx futures. They have been my trade of choice for a long time now. I like them both intraday and positionally.

 

is there such a thing as trading hours for fx futures? if not, what do people typically use?

 

There are certain hours of the day where some currencies are more active. from what I witness, the Pound and Euro get active after 3:00 AM when London market opens and picks up again at 7:30 AM or so when US market kicks in. Yen may be more active late at night when Tokyo opens.