Raining pips April edition

I am looking for 100 on the trade..the usual.



I know it seems crazy but if the government raises rates and we do not (Canada) then the USD SHOULD go lower.

I am amazed that we are allowing the USD to just flatline here, it makes me think the FED is trying to give banks more money by keeping rates low and letting them reinflate themselves in the process.

Check out the SPX Vix..setting multi year lows today.

Gee I wonder if we are setting up a monster soft ball to knock out of the park here.

Isnt this what Greenspan did b4 to create this mess?He was cutting rates and everybody questioned it then,Ive seen a few people say thats basically why were here now...Im really impressed with Ron Paul been watching videos of him taking it to Bernanke.....just sucks hes so old now i dont think he can pull it off...maybe if he was in his 50s and people had to go through this for a another term he could get it done but now???I think Obama is gonna win no matter what happens...

im still in short usd/chf and gbp/usd like you said buck i wante to average in on usd/chf but im afraid it will run over the 10687. i was up a little on gbp/usd about 2 hours ago, was waiting for it to drop but it stalled. 

got outta gbp/usd down a little and used some to average up my usd/chf. 

Im in GBP and CHF but the CHF is a new position i entered a few hrs ago...i set a limit for the other trade and it got taken out this morning...

i still like GBP short it failed to close above a trend line i got on my chart...would like to see it seek the bottom of the channel in the low 51s maybe setting up a buy..here what im looking at for GBP chart....thoughts fellas?

 

https://yfrog.com/2mgbphg

got in on gbp short also here @ 80 

Starting a CD short..

Order in at .9985 to short 1 lot.

Tomorrow should be an up day market wise, so barring some reversal I have to think the USD keeps falling.

The problem is that 1 lot almost isnt worth it..it will take a ton of pips to make any return.

Just waych the short term MAs Pap....when she starts climbing higher dont let it take all your profits

What is a the typical number of lots you trade on an order?

 I know some like to keep powder dry to average in, but on the routine when taking a position, what is your typical lot size?

i start with 2...and i wont average until im down 100 pips

buck on the chf/usd what do think is the next level of res where i could average if need be ? i dont see any ma's above but on the pivot chart from forex it shows  lv1 res @ 10719 and lv2@ 10752 those are the daily and on the weekly theirs lv2 @ 10718. I'm thinking at 10719 is good resistance and if it gets their thats where i average in hard. 

being away from my computer on this trade screwed me up but i can make it work.

hell i coulda got out of it early this morning but i was still looking for it to fall further. 

 I am 100 to 1 leverage.

Buck, if i follow your trading model ( 2 lots, avg. in down 100 pips) what kind of account fundage do I need in order to prevent triggering a forex.com automatic sell to cover should the trade continue to move against my position?

Much appreciated

cd theirs a max deal meter on the forex.com platform it basically tells you where you sit margin wise. it moves lower as ur position goes against you. 

im outta gbp short i wanted the dry powder for the usd/chf pair, im not comfortable with it as i know jack shit about the the franc and what makes it move. 

Somebody look @ the CAD/CHF 4 hour. Ideal short?

This is how I see it..you need to be able to average down to 5-6-7 lots and not have it toss you out, I personally dont start with 2 lots though..and I do start averaging into a position about 100 pips down as well.

I probably should have taken the 50 pips I had on that LB short..

Wallstreet thanks for your response. Excuse the cheesiness, but you are Obi Wan to Buck's Luke Skywalker. I have much respect for your posts and take note of the knowledge you share.

Just getting to know Pap and I like him as well.

All time double bottom on the EUR/CAD (1.3339) after the dead cat bounce? Or is it time for Canada to start world domination after support breaks?

 

 

cdk,



Dont worry about the all time double bottom, look at the why versus the event.

You can say the same for several EU pair..look at the EU.AU pair, just a miserable chart and if you didnt know the underlying WHY then you would jump in long and probably get crushed.

The CD currency is strong because their economy is tied to commodities and with them considering raising rates, they are almost grouped with the AU which is probably the strongest out there. Having commodities so strong means these one dimensional economies are REALLY benefiting. I think it is a short term event and wont last longer term but until the US or the LB or the EU start to signal rate increases and stability, you gotta ride what is working now.

I wouldnt go long that pair..unless you are looking for a small return or have deep pockets and a long time horizon.

wall your knowledge on the currency pairs is awesome.  what the hell does the swiss franc move on ?? lol i hate being in pairs that one i have no idea what drives its movements. 

Thats a good question and we have discussed it before and this is what I personally think about it.

The CHF is an "oasis" currency..meaning it sits there in the middle of all these other countries who seem to do stupid things and they seem to keep their noses clean and not be entangled in the messes that the LB and EU get involved in.

What seems to move the CHF is how the government there is fighting it being too strong and the political battle that goes on to either take interventive measures or not..they seem to claim that if the CHF gets higher than X point versus the dollar that the Swiss government will step in and make sure it does not go much higher, so if you look at a longer term chart of the US.CHF that for a year it has really been boxed in to a narrow trading range.

Then the other pairs it is matched up with reflect the weakness of the counter-pair, say like the EU..it has been a down sloping chart for a year, but still nothing like other pairs..the EU.CHF has a less than 1k top to bottom pip spread..

With the CHF you will lose the volatility that you find with other currencies, so if you want the most action you have to bump up the counter-pair volatility..

I dont care for that currency so much, it is manipulated and controlled, too much time spent waiting for a 50 pip move..lol

thanks wall and yeah i have been in this trade since last week. it hasnt moved much since tuesday morning. 

short gbp/usd here @ 83  hit and run trade if it runs im out lol