Forex Tradingwithrayner

[CookieMonsta88]

BUY on EURUSD @ 1.12608 now, TP @1.13
by closing sure smiling.

so what did u put for ur sl?

was long 1.1211, and took it out at 1.1258

 

[die_sg]

so what did u put for ur sl?

was long 1.1211, and took it out at 1.1258

no SL for me. never trade with SL.

7hrs to go before market close for the weekends.
Hope no negative value on open trade.

 

[CookieMonsta88]

no SL for me. never trade with SL.

cool, fair enough, btw now seems gunning for 1.13 soon, most prob by tonight, and i think u should let it go by 1.13, maybe 1.1325 or 1.1350? but of course need see the price action

 

[die_sg]

cool, fair enough, btw now seems gunning for 1.13 soon, most prob by tonight, and i think u should let it go by 1.13, maybe 1.1325 or 1.1350? but of course need see the price action

it will hit 1.13, i set mine 1.1298, as want close early.

 

[prudent76]

How did everybody do today? Green pips? the EUR USD did make it all the way up to 1.1288 so I guess some got out with a pay cheque... Market has been choppy for me the last 2 days...

 

[blurinvestor]

I may be wrong, but caution on shorting Euro. I think the market is buying Euro against the crosses.

[/IMG]

Happy trading.

Thanks for the reminder. I was trying to rob the euro banks as they go for holidays till tuesday. Pull trigger to early without sound strategy, a mistake that need to be checked.

Nonetheless, euro pair should be weaker, with the exception of EURGBP cos of the interesting election. Shall wait for more econ news to confirm (I should stick with this personal strategy and not be greedy).



Hi Rayner,
I don't trade gold but would like to learn from you regarding HSBC gave 2 months notice to close all gold vaults in March, coupled with the fact that they are custodian of gold, do you think gold will go south this May?

 

[prudent76]

Thanks for the reminder. I was trying to rob the euro banks as they go for holidays till tuesday. Pull trigger to early without sound strategy, a mistake that need to be checked.

Nonetheless, euro pair should be weaker, with the exception of EURGBP cos of the interesting election. Shall wait for more econ news to confirm (I should stick with this personal strategy and not be greedy).



Hi Rayner,
I don't trade gold but would like to learn from you regarding HSBC gave 2 months notice to close all gold vaults in March, coupled with the fact that they are custodian of gold, do you think gold will go south this May?

I thought you made money? At least 60 pips? EURUSD closed below 1.12.

 

[blurinvestor]

I thought you made money? At least 60 pips? EURUSD closed below 1.12.

I placed sell limit in the morning and was wicked at 1.127xx. Evening cancel my sell order cos tired from the fishing trip and do not like to get stuck over the weekend.

Anyway, EURNZD might be a better candidate to catch the fall of eur, will gather more econ news about NZ this weekends.

Happy weekends and would recommend those who are also interested in stock market to read "What works on Wall Street". BTW it is a thick boring factual book and not those that promise to make you millionaire. But i say read it if you plan to be one.

 

[prudent76]

I placed sell limit in the morning and was wicked at 1.127xx. Evening cancel my sell order cos tired from the fishing trip and do not like to get stuck over the weekend.

Anyway, EURNZD might be a better candidate to catch the fall of eur, will gather more econ news about NZ this weekends.

Happy weekends and would recommend those who are also interested in stock market to read "What works on Wall Street". BTW it is a thick boring factual book and not those that promise to make you millionaire. But i say read it if you plan to be one.

I would like to recommend another book, but I think it's hard to get your hands on a copy. Its called the Encyclopedia of Trading Strategies by Jeffrey Owen Katz. I call it the Encyclopedia of S*!t that doesn't work. It's even more boring that the book you recommended lol. The book basically back-test numerous entries and exits and such, across numerous asset classes. So why read it? By understanding what doesn't work and why it doesn't work, you then have a chance to focus on what actually does have a chance of working. It saved me years of back testing. This is the first book I read, that conclusive proved (in my eyes) that MA strategies do not work. The results of the book also confirmed my own back testing which at that point i had already invested 2-3 years.

 

[tradingwithrayner]

Thanks for the reminder. I was trying to rob the euro banks as they go for holidays till tuesday. Pull trigger to early without sound strategy, a mistake that need to be checked.

Nonetheless, euro pair should be weaker, with the exception of EURGBP cos of the interesting election. Shall wait for more econ news to confirm (I should stick with this personal strategy and not be greedy).



Hi Rayner,
I don't trade gold but would like to learn from you regarding HSBC gave 2 months notice to close all gold vaults in March, coupled with the fact that they are custodian of gold, do you think gold will go south this May?

Hi investor,

I'm sorry but i am not the best person to ask regarding fundamentals.

Perhaps others could shed some light on this.

Rayner

 

[die_sg]

lots of miscalculations on 1st may, need go back to drawing board and find new strategy.

 

[CookieMonsta88]

lots of miscalculations on 1st may, need go back to drawing board and find new strategy.

U took the position out? Or its still in there?

 

[CookieMonsta88]

I would like to recommend another book, but I think it's hard to get your hands on a copy. Its called the Encyclopedia of Trading Strategies by Jeffrey Owen Katz. I call it the Encyclopedia of S*!t that doesn't work. It's even more boring that the book you recommended lol. The book basically back-test numerous entries and exits and such, across numerous asset classes. So why read it? By understanding what doesn't work and why it doesn't work, you then have a chance to focus on what actually does have a chance of working. It saved me years of back testing. This is the first book I read, that conclusive proved (in my eyes) that MA strategies do not work. The results of the book also confirmed my own back testing which at that point i had already invested 2-3 years.

And I guess that's why that guy has a PhD in finance huh, coz if it did work, and its a mechanical strategy, he would keep it a secret and never reveal it, and juice it for all its got. The interesting thing about mechnical strategy with no fundamentals backing it is that, once its revealed, it will stop working

 

[blurinvestor]

I'm sorry but i am not the best person to ask regarding fundamentals.
Rayner

Hi Rayner, No worries will watch it goes to 1140.

lots of miscalculations on 1st may, need go back to drawing board and find new strategy.

When I see "1st may" I went Youtube First of May Bee Gees and yes time has passed me by. Thanks, 1 good solid hour listening to Bee Gees feel so good now.

I would like to recommend another book, but I think it's hard to get your hands on a copy. Its called the Encyclopedia of Trading Strategies by Jeffrey Owen Katz.

If I'm not wrong SMU library has it.

 

[prudent76]

lots of miscalculations on 1st may, need go back to drawing board and find new strategy.

I thought you had an entry at 1.260 and got at 1.280? That's 20 green pips right there...

 

[prudent76]

Hi Rayner,
I don't trade gold but would like to learn from you regarding HSBC gave 2 months notice to close all gold vaults in March, coupled with the fact that they are custodian of gold, do you think gold will go south this May?

You've latched on to what appears to be a tradable piece of news. If the price action "confirms" your opinion, then trade it with your technical strategy. You therefore have both fundamental and technical aspects behind your trade. I would say it's worth a trade.

 

[blurinvestor]

I would like to recommend another book, but I think it's hard to get your hands on a copy. Its called the Encyclopedia of Trading Strategies by Jeffrey Owen Katz. I call it the Encyclopedia of S*!t that doesn't work. It's even more boring that the book you recommended lol. The book basically back-test numerous entries and exits and such, across numerous asset classes. So why read it? By understanding what doesn't work and why it doesn't work, you then have a chance to focus on what actually does have a chance of working. It saved me years of back testing. This is the first book I read, that conclusive proved (in my eyes) that MA strategies do not work. The results of the book also confirmed my own back testing which at that point i had already invested 2-3 years.

"invert, always invert" Carl Jacob approach to solve problem - the process of solving problems by first understanding the opposite approach.

When that interest rate cut that currency most likely drop, get ready for aussie. Hope you get some good one but don't be greedy.

 

[blurinvestor]

Just realized that the aussie interest rate cut was leaked 2 days ago. Most likely factor into PA liao. Maybe a slight drop nothing to catch.

Done with euro. I will rest till NFPR.

 

[tradingwithrayner]

How The Dollar Index Affect The Major Currencies

Cheers!

Rayner

 

[newaisa]

Great threads!

I've been learning demo and extensive reading for 2 years+. Would like to start small and see if I can perform as well as my demo using real account.

Anyways, I have come across that my broker having the option of USD/SGD/EURO/JPY etc accounts. I was contemplating between USD and SGD. Other than the difference in FX of course, is there anything I need to take note?

Any opinions? I am in no way experience, just some book/google/demo knowledge. However, I am ready to take my first real ride, just need some clarifications here and there.
Thanks!