I have been on a winning streak and now nervous to take new positions
Členem od Jun 26, 2012
192 příspěvků
Jan 30, 2013 at 10:43
its another debatable issue... back-testing :D
for me i would backtest for one year, it would build my confidence of a certain strategy , n would give me a good experience for different trade scenarios..
for me i would backtest for one year, it would build my confidence of a certain strategy , n would give me a good experience for different trade scenarios..
Členem od Jan 24, 2013
40 příspěvků
Jan 30, 2013 at 10:50
ok i understand - but this not a trading entry-exit i am testing, it is more like managing capital - and will not change given the market scenario? frankly, i am not sure if i will be able to backtest things properly.. 😳
Členem od Jan 24, 2013
40 příspěvků
Jan 30, 2013 at 14:04
Just another quick question - say if i want to be long eurgbp can i go long eurusd and short gbpusd? How is it different from trading eurgbp on its own? Can there be a point when eur/gbp is different from eurusd/gbpusd?
Členem od Feb 08, 2012
48 příspěvků
Jan 30, 2013 at 22:05
mylin_m19 posted:
Just another quick question - say if i want to be long eurgbp can i go long eurusd and short gbpusd? How is it different from trading eurgbp on its own? Can there be a point when eur/gbp is different from eurusd/gbpusd?
Technically speaking, by going long on EURGBP = Long EURUSD and Short GBPUSD. Both yields the same result, but when the market is moving too fast such as spikes, there might be a difference between the two as the Quotes on EURGBP will be slower. I have not heard about EURGBP misaligned but other crosses did-especially those that isn't as popular with some as wide as 50pips apart
Členem od Jan 24, 2013
40 příspěvků
Jan 31, 2013 at 10:54
Ok, so say i have a long term eurgbp buy signal this would mean that i am essentially long for eurusd short gbpusd sell signal. If in short trend if eurusd goes down and gbpusd goes up while eurgbp continues going up - i can do counter trades with small take profits? I am sure someone has tried this - any sight will be useful.
Členem od Feb 08, 2012
48 příspěvků
Jan 31, 2013 at 11:39
mylin_m19 posted:
Ok, so say i have a long term eurgbp buy signal this would mean that i am essentially long for eurusd short gbpusd sell signal. If in short trend if eurusd goes down and gbpusd goes up while eurgbp continues going up - i can do counter trades with small take profits? I am sure someone has tried this - any sight will be useful.
No, f EURUSD goes down GBPUSD goes up then EURGBP will be down. The only time EURGBP goes up is when news events when the dealer / market didn't price in the fast movement of the market at that time. If it does happen on EURGBP on misalignment, it last for seconds or minutes only...
Členem od Jan 24, 2013
40 příspěvků
Jan 31, 2013 at 14:36
Ok cool, dont think I will be able to do such quick trades.
I am asking just random questions here - but another one, eurusd and gbpusd are far more voatile than eurgbp.. does that mean that crosses are less volatile than mainstream trades? Is this always the case? What is the difference between an illiquid currency and a volatile currency?
I am asking just random questions here - but another one, eurusd and gbpusd are far more voatile than eurgbp.. does that mean that crosses are less volatile than mainstream trades? Is this always the case? What is the difference between an illiquid currency and a volatile currency?
Členem od Feb 08, 2012
48 příspěvků
Jan 31, 2013 at 18:55
mylin_m19 posted:
Ok cool, dont think I will be able to do such quick trades.
I am asking just random questions here - but another one, eurusd and gbpusd are far more voatile than eurgbp.. does that mean that crosses are less volatile than mainstream trades? Is this always the case? What is the difference between an illiquid currency and a volatile currency?
No...Crosses are not less volatile. It is mainly because if EURUSD rallies GBPUSD is likely to rally as well...Thus it comes down to who rallies faster EUR or GBP. If the green back is weaker across the board, then all the majors will advance. If EURUSD up 1% and GBPUSD up 1%, you will see EURGBP unchange. But if EURUSD up 1% and GBPUSD down 1% you will see EURGBP up 2%.
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 09:51
Thats weird, because the average number of points that EURGBP moves is far less than that of GBPUSD and EURUSD? Basically I place my stops depending on the average movement of the currency. As I am planning to risk only 1% of my capital, I am looking for positions that move on average that many pips.. and cant seem to find much except EURGBP, AUDGBP, AUDCAD, USDCAD. Any recommendations?
Členem od Feb 08, 2012
48 příspěvků
Feb 01, 2013 at 09:55
mylin_m19 posted:
Thats weird, because the average number of points that EURGBP moves is far less than that of GBPUSD and EURUSD? Basically I place my stops depending on the average movement of the currency. As I am planning to risk only 1% of my capital, I am looking for positions that move on average that many pips.. and cant seem to find much except EURGBP, AUDGBP, AUDCAD, USDCAD. Any recommendations?
EURGBP move is less of GBPUSD and EURUSD reason is the same as my previous post, if USD is weakening across the board = EURUSD will be up and GBPUSD will be up....When you are comparing the two that is up EURGBP = Which of the two moves faster. If EURUSD is up 0.4% while GBPUSD is up 0.5% then EURGBP will be down 0.1%; if EURUSD is up 0.5% and GBPUSD is up 0.2%, then EURGBP will be up 0.3%.
All currency pairs have different characteristics, just stick to what you do best.
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 10:02
Ok thanks, so I managed to save my capital as my USDCAD, AUDGBP took a beating and hit their stop losses - but my EURGBP has been quite good and locking me more profits as it goes up. I think I can now put in a new trade.. taking all the above into account. Thank you.
Členem od Feb 08, 2012
48 příspěvků
Feb 01, 2013 at 10:04
mylin_m19 posted:
Ok thanks, so I managed to save my capital as my USDCAD, AUDGBP took a beating and hit their stop losses - but my EURGBP has been quite good and locking me more profits as it goes up. I think I can now put in a new trade.. taking all the above into account. Thank you.
Not a problem, i think for the last few weeks EURGBP will be alot...As EURUSD rallied while GBPUSD plunges; thus EURGBP will go up faster than EURUSD
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 13:38
you know a good trade during non-farm could be long usdcad and long gold .. with tight stop losses; i had usdcad as a new position but i took it out after the non-farm payroll, as i could potentially get better price later, if it maintains it strend, but in hindsight i could have gone long gold as well..
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 13:39
i will just ride my eurgbp now.. :)
Členem od Feb 08, 2012
48 příspěvků
Feb 01, 2013 at 15:28
mylin_m19 posted:
you know a good trade during non-farm could be long usdcad and long gold .. with tight stop losses; i had usdcad as a new position but i took it out after the non-farm payroll, as i could potentially get better price later, if it maintains it strend, but in hindsight i could have gone long gold as well..
I don't do XAUUSD. I only do Gold Futures GC
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 15:44
Whats the difference between the two?
Trading is awesome.. I am like at 700 now started from 80.. shit i am getting all like nervous again - check list 1) trailing stop losses at place 2) no more trades... thats it right??
Trading is awesome.. I am like at 700 now started from 80.. shit i am getting all like nervous again - check list 1) trailing stop losses at place 2) no more trades... thats it right??
Členem od Feb 08, 2012
48 příspěvků
Feb 01, 2013 at 15:49
mylin_m19 posted:
Whats the difference between the two?
Trading is awesome.. I am like at 700 now started from 80.. shit i am getting all like nervous again - check list 1) trailing stop losses at place 2) no more trades... thats it right??
Difference being, Gold Futures is the centralised, XAUUSD depends on gold futures...And XAUUSD can be manipulated in price feed... Keep the risk down, it will save you lots of issues. Piece of advice-If it comes easy, it goes easy...I have 90+% accuracy on trades previously and was leveraging to the hilt as I am 95% right...But its the 1% or 5% that killed me...
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 15:58
Ok my average opening price is 8329.18 and I am leverage 2.5 times with stop loss at 8587. So if the market moves another 43 pips my stop loss moves another 43 pips. So at the moment I am sitting and doing nothing. This is EURGBP.
The next trade is USDCAD, which I bought today again after the non-farm, as it is still within its trend channel at 9992.6 and have a stop-loss at 9987 with leverage 1 times; but if the market moves 43 pips positive my stop loss will move to 9906 and then follow the same routine as EURGBP.
Dont think I should do anything extra...now and just stay put.
The next trade is USDCAD, which I bought today again after the non-farm, as it is still within its trend channel at 9992.6 and have a stop-loss at 9987 with leverage 1 times; but if the market moves 43 pips positive my stop loss will move to 9906 and then follow the same routine as EURGBP.
Dont think I should do anything extra...now and just stay put.
Členem od Feb 08, 2012
48 příspěvků
Feb 01, 2013 at 16:01
mylin_m19 posted:
Ok my average opening price is 8329.18 and I am leverage 2.5 times with stop loss at 8587. So if the market moves another 43 pips my stop loss moves another 43 pips. So at the moment I am sitting and doing nothing. This is EURGBP.
The next trade is USDCAD, which I bought today again after the non-farm, as it is still within its trend channel at 9992.6 and have a stop-loss at 9987 with leverage 1 times; but if the market moves 43 pips positive my stop loss will move to 9906 and then follow the same routine as EURGBP.
Dont think I should do anything extra...now and just stay put.
Not sure what currency your account is in, as the price looks different. If you are just leveraging 2.5X is alright.....Don't risk what you need for what you want.
Členem od Jan 24, 2013
40 příspěvků
Feb 01, 2013 at 16:51
my currency is gbp - but i think the price levels should be the same for eurgbp and usdcad? i just get paid in gbp?
