PeterFM's Posts - Page 2

Alpari Demo Managed Account in Trading Systems Dec 15, 2009 at 10:37

I wish I had your faith! I hate this time of year and normally close everything down as the drop in liquidity often means there is no follow through on moves.There seems to be a difference in the way that the EUR and the AUD are re-acting to the current $ strength. The Aussie is holding up better and although in a small retracement at the moment I am looking for support to arrive at 0.0900 and have averaged in as price gets near that region. It's this lack of real overall signs of a lack of commitment to Dollar strength that is frustrating; if there was a clear and obvious down move across...

newborn2 in Trading Systems Dec 05, 2009 at 14:56

Looking good at the moment. It's good to see you keeping your position sizing small - you will be amazed how quickly an account can grow this way.Keep it up.

EURUSD in Trading Systems Dec 05, 2009 at 13:49

Unfortunately I took my eye completely off the ball this week. I've been so busy concentrating on the demo managed account I forgot to check all the open positions on the live account.Needless to say.....Ah well, I've survived worse losses and at least we can expect a decent run back up to 1.5000 - 1.6000 sometime soon. This uptrend isn't dead yet, I will need to see a series of closes below 1.4760 before I'll change my point of view.---------<a href=http://www.myfxbook.com/files/PeterFM/eurusd02_Dec._05_2009.gif target='_blank'><img src=http://www.myfxbook.com...

EURUSD in Trading Systems Nov 30, 2009 at 10:42

Are you calling me a mouse? 😀Fortunately I had my stops well out of the way on both the Euro and the Aussie and am still watching the pennies dripfeed into the accounts.When I get to the point that I'm sticking a 50 standard lot trade in against the trend I'll be sure to let you know. If I forget to warn you I promise I'll send an apology 😈.

EURUSD in Trading Systems Nov 27, 2009 at 11:42

With Thanksgiving in the States and the lack of liquidity in the markets the mice have come out to play. This is typically the worst time of the year for my type of trading as it doesn't take huge amounts of money to move the market about. 🙄We might get some order back for a couple of weeks leading up to Christmas and then I shut down until the New Year. Then we start all over again.

Alpari Demo Managed Account in Trading Systems Nov 22, 2009 at 18:09

No it's more a case of taking my eye off the ball. I should have been out of the USDCAD trade days ago when it made the last double bottom and the same with the EURCAD.As the demo is being set up as a trial run for the live managed account, which I hope to start next year, I decided to close the worst trades and start without the dead wood in it. The main trades will now be focussed on the EURUSD or any of the 6 main pairs but I doubt I'll carry more than 1 or 2 trades at the same time. I will be focussing on account preservation and gradual growth rather than the riskier way I've ...

Alpari Demo Managed Account in Trading Systems Nov 21, 2009 at 14:49

Thanks for that. That sort of thinking is way beyond me which is why I only trade one pair in the live account. If I have to think too much I have to have to go outside for another cigarette to steady the old brain. I'm sure calsig2000 has benefited though. 😉

EURUSD in Trading Systems Nov 20, 2009 at 22:52

Thanks. It's been a bit of an uphill battle for the last two weeks. I haven't been able to study the charts like I usually do, so making more mistakes than I like.The market seems harder to read right now or is it me?😕

Alpari Demo Managed Account in Trading Systems Nov 20, 2009 at 20:52

Here is quick weekly wrap of today's trades and the thinking behind them. If you have any questions then please post them here.http://www.mediafire.com/?2ldmtwdjzhj

Alpari Demo Managed Account in Trading Systems Nov 20, 2009 at 14:53

Please note: This account is now a demo of my fund management. If you would like to be included in this for the next couple of months I would be happy to include you.I intend to go live in the New Year as the market can be short of liquidity on the run up to Christmas so no point taking undue risks. To keep things simple I'm laying out a few rules which may or may not apply with live accounts.I use Alpari UK so would prefer that you create a new demo with them and set the default currency as GBP. You can set the account size at £1000 and this will enable me to easily calculate lot si...

Alpari Demo Managed Account in Trading Systems Nov 19, 2009 at 10:36

To be honest calsig, what I do in the demo account isn't strictly the way I play the live account. I'm thinking of closing it down on here as I'm concerned that it might be used as a signal service and with people's money at risk it worries me.In answer to your question, I never trade live with correlated pairs. In fact, apart from the odd EURGBP trade when I see certain types of price action, I concentrate purely on the EURUSD. Even now I find that trying to trade multiple pairs on the demo account is affecting my judgement on these trades.Minimising risk is key to survival in...

Alpari Demo Managed Account in Trading Systems Nov 18, 2009 at 16:22

Well, I'll have to give you a vouch then, won't I.

Re: Recent Topics Discussed on front page in Suggestion Box Nov 18, 2009 at 08:42

I wish my wife would get things done as quick as that. Thanks.😀

Re: Recent Topics Discussed on front page in Suggestion Box Nov 17, 2009 at 22:52

Can you set this so that when you click on a new post you're taken straight to the new post rather than the first one at the beginning of the thread?

Alpari Demo Managed Account in Trading Systems Nov 17, 2009 at 21:05

Regarding moving stops to break even too early. I thought you might all like to read this thread over in FF. I started the thread way back in Jan 2007 and I should point out that virtually all the early replies were from some of the most experienced traders around FF.It really is an important read and I've just gone back to read it all again. I would like some feedback on this, and any of my other posts, as I've no idea if anyone is reading this stuff. If there's no interest I can save myself some time 😉.http://www.forexfactory.com/showthread.php?t=12273

Alpari Demo Managed Account in Trading Systems Nov 17, 2009 at 19:58

Well, for anyone who is learning to trade and is watching this stuff I feel it's as important to see the dumb trade decisions as well as the good stuff.There is an important lesson to be learned here; it's that there are times when you simply cannot read the charts the usual way. You will find that decisions that could be made in minutes a week or so ago suddenly become harder to make. The charts don't make sense and after a couple of losing trades your thought processes go haywire.Today was a classic case. I was annoyed with the losing trade on the AUDUSD and decided to sit it out...

Alpari Demo Managed Account in Trading Systems Nov 17, 2009 at 13:59

Yeah, ironic isn't it. Called it to the pip almost and didn't trade it. You can't do this without concentrating on what you're doing.I watched a 1-hr pin forming on this pair and stood aside (this is the 4-hr chart, btw) and price didn't quite get back to my entry point at the .9270 level. Once I miss a trade like this I don't jump in with a Market order, I'll wait and look for the next opportunity. This might come at the .9317 level, although it looks as if price is edging back down again so this Buy order might be good.I have a tight stop (1%) just below the nose ...

Alpari Demo Managed Account in Trading Systems Nov 17, 2009 at 12:17

This is what I love and hate about FX. First, what I love; you get proven right, ESPECIALLY when you decide NOT to trade. Second, what I hate; nearly every time you're proven right it's when you're in bed.Looking back on this trade, which is around 100 pips below the level mentioned in last night's post I spotted the mistake that took me out of this. Because I've not been able to stay fixed to the screen I realised, when I got to study this after my stop was hit, that the lines I first drew when deciding how to tackle this potential retracement had been set before I checked...

Alpari Demo Managed Account in Trading Systems Nov 16, 2009 at 22:37

Well, in combination with the news release and the spike up I got taken out of this one. But as we can see there doesn't appear to be enough buying momentum in the Asian session to maintain the uptrend. Price is just about holding at the upper line (0.9363) so I'll have to wait until the morning before assessing what to do here.I don't like opening trades at this time of night (10:30 GMT) as I'm not going to be around to monitor it and I like to have some idea of price action at these levels. ----------<a href=http://www.myfxbook.com/files/PeterFM/audusd_Nov._16_2009.gif tar...

Stats update in General Nov 16, 2009 at 20:54

Hi StaffI see that it's been several hours since my stats have update - any clues?

EURUSD	1.0772	GBPUSD	1.25668	AUDUSD	0.66278
USDJPY	153.923	USDCAD	1.36597	USDCHF	0.9058

Posts by PeterFM