Frixxxx's Account Talk!

[Frixxxx]

Frixxxx,

Are you saying to buy the GBP/JPY? It's at 142.68 as of this writing. I know the GBP/JPY is a big mover. But, that is a lot of pips.

Thanks,

Steve

Yes,

I have 27 movements in through 143.50, 144, 144.25, 144.35, 144.50 and 145.

Respectfully,

Eric

 

[sdouglas3]

Yes,

I have 27 movements in through 143.50, 144, 144.25, 144.35, 144.50 and 145.

Respectfully,

Eric

Cool, thanks for the info. I will look at it hard after i get out of here today.

Steve

 

[sdouglas3]

Yes,

I have 27 movements in through 143.50, 144, 144.25, 144.35, 144.50 and 145.

Respectfully,

Eric

Let me ask a question. When you refer to 27 movements. What do you mean by that?

thanks,

Steve

 

[Frixxxx]

Let me ask a question. When you refer to 27 movements. What do you mean by that?

thanks,

Steve

OK,

Here's the deal,

Based on movement and charting, I notice strength in a direction.

So I place an anchor. Say GBPJPY

I set 142 as my position with a 1K buy lot. This gets me a starting point. For each pip, I get .11 USD.
at 142.20 I buy another 1K.
at 142.40 I buy a 10K and get 1.10 USD a pip
at 142.50 I buy a 1K lot
and so on....then I set Take Profit positions as I go up this ladder. My bigger lot sizes get closed quicker than the lower lot sizes and reduce risk.

Usually about 30 open positions per currency is what I shoot for.....

Sometimes I'll insert a hedge at 80% of calculated movement if my signals are showing an inverse.

When I hit 3% for the movement, I close all positions and I am done for the day!:nuts:

Some days I don't even place positions

No movement, no positioning.

 

[Viva_La_Migra]

Welcome to the club of those with strong stomachs and not afraid of a wild ride.

Would have been easy to get off the train at the -G- station. Many did in the past few days and are now sitting there with IFT's used up and watching locked in losses, with trains rushing by but not picking up any passengers.

Myself...not sure if we'll get back up to the highs of a month ago. Looking to get off the -C- train soon...but just not yet.

Actually, some of us locked in gains. I left enough in there to make more gains should the market take off.

 

[Frixxxx]

Housing start numbers got me thinking.....more jobs to show at end of month.....could we go positive?

JPY showing a .3% prediction in all industry.

USD CPI showing growth so the currency runs should be nice.

Not so much for the market, but a correction is needed and I may be in G for Friday.

Might think about "I" though.

 

[sdouglas3]

OK,

Here's the deal,

Based on movement and charting, I notice strength in a direction.

So I place an anchor. Say GBPJPY

I set 142 as my position with a 1K buy lot. This gets me a starting point. For each pip, I get .11 USD.
at 142.20 I buy another 1K.
at 142.40 I buy a 10K and get 1.10 USD a pip
at 142.50 I buy a 1K lot
and so on....then I set Take Profit positions as I go up this ladder. My bigger lot sizes get closed quicker than the lower lot sizes and reduce risk.

Usually about 30 open positions per currency is what I shoot for.....

Sometimes I'll insert a hedge at 80% of calculated movement if my signals are showing an inverse.

When I hit 3% for the movement, I close all positions and I am done for the day!:nuts:

Some days I don't even place positions

No movement, no positioning.

Thanks Frixxxx for the explantion. Waiting for movement is important.

Steve

 

[coolhand]

Housing start numbers got me thinking.....more jobs to show at end of month.....could we go positive?

JPY showing a .3% prediction in all industry.

USD CPI showing growth so the currency runs should be nice.

Not so much for the market, but a correction is needed and I may be in G for Friday.

Might think about "I" though.

Take a look at "after hours" futures on the I fund.

http://finance.yahoo.com/q?d=s&s=^gspc,+^dwcpf,+efa,+TLT

Here's some more futures.

http://money.cnn.com/data/afterhours/

 

[Birchtree]

These futures may be reacting in a knee jerk fashion to the Fed increase in the discount rate 50 basis points - probably doesn't signify anything disturbing. Actually could be good news for the markets denoting strength in the banking sector.

 

[coolhand]

These futures may be reacting in a knee jerk fashion to the Fed increase in the discount rate 50 basis points - probably doesn't signify anything disturbing. Actually could be good news for the markets denoting strength in the banking sector.

I know you like to use fundamentals as your guiding light, but this news (which was expected by the banks, I'm sure) will cause the markets to react in a way that benefits the insiders (the banks). It all depends on how they positioned themselves before the announcement. I won't even wager a guess what happens in the next day or two.

 

[Birchtree]

The market may see the move as a housekeeping detail that's necessary to keep the economy moving forward. I would not be surprised to see another consecutive gain tomorrow in the area of 200 points. This could catch a lot of shorts flat footed and many lily padders sleeping.

 

[Silverbird]

I agree Birch, I think it was a one day bank pout. ("beat me, hurt me, make me write bad checks!" - for those of you who don't get this joke just ignore the 80's humor).

 

[Frixxxx]

I agree Birch, I think it was a one day bank pout. ("beat me, hurt me, make me write bad checks!" - for those of you who don't get this joke just ignore the 80's humor).

LOL, Space Camp!:laugh:

 

[Frixxxx]

Well, nice of Japan to weather the storm against the pound....all indicators had it for a ride up, but it just fell flat, Fortunately, I had the USDJPY hooked for some run up...

If you are on the GBPJPY, ride it out until Tuesday, maybe set a spread popper so that you reduce your fear....

Spread-popper: +1 to Spread during short movement. Allows an early out if not a optimum position.

Have a Great Friday everyone!

100% S until next week:blink:

 

[Frixxxx]

100% S until next week:blink:

I lied, 100% F COB - I got two IFTs and I am going to USE THEM!

 

[Frixxxx]

COB TODAY

30 - C

70 - S

LOVE A PULLBACK BUY!

 

[CapeChem]

i too used today to jump back in Frixxxx.....heres hoping for a red afternoon and lift off tomarrow.

 

[Bluehenge]

How long does it take for your ITF to post...I don't see an IFT for Frixxxx or Capechem on the tracker at this time.
Bluehenge

 

[Frixxxx]

How long does it take for your ITF to post...I don't see an IFT for Frixxxx or Capechem on the tracker at this time.
Bluehenge

You won't see one for me, I'm not on the tracker.

I think it posts at the end of the day- you have to wath account talks for their moves.

 

[CapeChem]

It was immediate when i finally got around to doing it!!!
Thanks for reminding me BlueHenge