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Posts by cateful

JZ Prop Account In Trading Systems Jan 28 2010 at 09:08
EURGBP trade is still on, I waited a week for that reaction upwards to 8800 only end up missing it since the reaction high was 5 pips from 8800. Anyway I still managed to add a small position around 8700ish. This happens a lot. Don't like it but have to live with it. Now that the pair is below 8700 I am making a very nice return on this compaign. Will update when I close it.
214065 In Trading Systems Jan 20 2010 at 20:11
[quote]shaquille75 posted: hey, does anyone know why statement is not updated? last update was 21th of december. i am running it live and wiped out two micro accounts! has anyone traded it live like me? [/quote] well, i guess this is what happens when you entrust hard earned cash to a robot - they don't know what to do with your money:D
JZ Prop Account In Trading Systems Jan 19 2010 at 17:02
[quote]biz0101 posted: so basically it's a straddle strategy after a high volatility news event? [/quote] No, I'm always long volatility but not directly through a straddle. A straddle is price-directionless, whereas mine is. I was betting on the price to go down, remember? Never, never short volatility. And no, it's not after a news event. A news event is a news event is a news event. It's just news. It comes out either support my view or against. I can't flip a position just based on one news event. Essentially I am betting on dislocations, sentiment changes, and ot...
JZ Prop Account In Trading Systems Jan 19 2010 at 10:57
[quote]biz0101 posted: yes, any profit is still a profit. why did you expect it to move 100 pips? [/quote] Because that's what it does usually when it reacts.
JZ Prop Account In Trading Systems Jan 19 2010 at 09:45
Well EURGBP turns out to be an OK start. I wanted to have a more modest starting position before it had broken 8850 but it broke so fast and so soon I only managed to accumate 3/5 of what I wanted. Bad execution on my part. Also the decline seems to be more severe than I thought. I expected reactions of 100 pips maximum but so far there has been only 50-pip reactions. Well anyway I'm running a lighter position than I would like to but a profit trade is a profit trade, right?
JZ Prop Account In Trading Systems Jan 14 2010 at 18:10
Also another trade I am looking at is the EURAUD cross which is not as liquid as the european crosses but still an active pair. Technically it is at a strategic price between 1.55 and 56. This is a multi-year low. It touched this price on numerous occasions in 1997, 2004, 2005, and 2007. If this level is breached it will be at a 10-year low. Right now the information I have on hand suggests there is a good possibility this might happen. However I am not quite confident about this at the moment. Will need new information.
JZ Prop Account In Trading Systems Jan 14 2010 at 18:01
The ECB rate decision and conference went as I expected earlier today. Mr. Trichet and his bandits made the following points [quote]ECB posted: [quote] Based on its regular economic and monetary analyses, the Governing Council decided to leave the key ECB interest rates unchanged......The outcome of the monetary analysis confirms the assessment of low inflationary pressure over the medium term, given the ongoing parallel decline in money and credit growth.......many euro area governments are faced with high and sharply rising fiscal imbalances. The very large government borrowing requirement...
JZ Prop Account In Trading Systems Jan 13 2010 at 09:06
[quote]cateful posted: I'll try to explain a live example. Right now I'm starting to get interested in the euro pound cross. It has been trapped in a 300 pip range for the past three months. It was in a 700 pip range for 4 years before it broke loose in 2007. There will be a rate decision later this week and there is very little chance that they would raise rates. Right now I'm clueless as where it's going like everybody else but if you stick a gun to my head I would probably say it is going to break down rather than up. But most likely it will do nothing and sit there ...
If the open trades are locked... In General Jan 04 2010 at 20:40
I'll try to explain a live example. Right now I'm starting to get interested in the euro pound cross. It has been trapped in a 300 pip range for the past three months. It was in a 700 pip range for 4 years before it broke loose in 2007. There will be a rate decision later this week and there is very little chance that they would raise rates. Right now I'm clueless as where it's going like everybody else but if you stick a gun to my head I would probably say it is going to break down rather than up. But most likely it will do nothing and sit there just like it did in 2003-2007. ...
If the open trades are locked... In General Jan 04 2010 at 19:50
[quote]biz0101 posted: i would like to know how do you define failure: - a system that worked for a year a stopped working? - a system that lost money from day one? - a system that needs to be constantly developed and improved? and on that note, how do you define a system to be successful? after 5 years of positive figures yearly? [/quote] Just as John Maynard Keynes once said, "in the long run we're all dead". I don't believe a "system" could ever beat the market in the long run. It's pointless to define the success of a system by its longevity. Market is d...
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.