No Rules Trading
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thread: No Rules Trading

  1. #1
    Member Rocky's Avatar
    83

    No Rules Trading

    I really don't have some system; I am pretty much a pure trader. The title might be a little misnomer, I really do have risk management rules set up, but every trade installment is approached in another manner. I exchange the information flow, which entails looking at what's going in the market, forming an opinion and acting on that view. These will be trades from my live account.

  2. #2
    Member Rocky's Avatar
    83
    I've been receiving long eurusd since last week. My ordinary price is 3241 at 1:11.5 total leverage. You can see I've been adding to the commerce as it's moving in my path. I really think this pair is moving higher based on how price has been pushed back over 3290 a couple times because the available on Sunday night. Friday's move was important I think; I'm expecting this week's Fed news casing information to really push the pair further north.

  3. #3
    Senior Member raqwl.deji's Avatar
    108
    Yeah man we need more like you (us) about here information is gold baby!

    And I concur, dollar is in trouble, I will be selling rallies.

  4. #4
    Member Rocky's Avatar
    83
    Nice to know I'm not alone...
    Last time that I started a thread similar to that (at another forum) I got criticised. Nice change... guess it's good to know I'm not alone .

  5. #5
    This week is slow in news for Euro. FOMC is already expected to maintain things as they are, but I've received reports on speculations about a rate reduction.

    Cable can get a boost tomorrow supported on the bunch of positive news, as forecast. Would drag Euro together with it?

    The two Euro and Cable are holding at a great level, indiing further to the upside.

    All in all, the stock market seems to be getting back on course, all markets up now on takeovers announcements. This can provide a jolt to the carries (after BOJ announcement , likely), thus dragging the majors up with them.

    All these is what I am on to.

  6. #6
    Member Rocky's Avatar
    83
    This week is slow in news for Euro. FOMC is already anticipated to maintain things as they are, but I've received reports on speculations about a rate cut.

    Cable can receive a boost tomorrow backed on the bunch of positive news, as prediction. Can drag Euro with it?

    The two Euro and Cable are holding at a nice level, suggesting further to the upside.

    Overall, the stock market appears to be getting back on course, all markets up today on takeovers announcements. This can supply a prop to the carries (following BOJ announcement ( probably ), therefore dragging the majors up together.

    All these is what I'm on to.
    We have got the same point of view then. The eurusd and gbpusd both seem to be heading higher. The eurgbp has been moving higher in a strong trend so I'm still anticipating eurusd to outperform.

    I exchange local South African stocks which involves knowing what's going on in other equity markets. From what I'm seeing global equity markets will probably move back over this year's highs. There is a strong correlation between the yen and equity markets right now, that combined with an outlook for greater markets signals the way for a weaker yen. The usdjpy rate might not move much but another yen crosses could be moving much greater.

    I'll be surprised if the BoJ statement causes much volatility, but if there's any the yen must overeat.

  7. #7
    Member Rocky's Avatar
    83
    yeah man we need more like you (us) around here information is gold baby!

    And I concur, dollar is in trouble, I will be selling things.
    I wonder what folks on the opposite side of our dollar shorts are all thinking?

  8. #8
    Senior Member raqwl.deji's Avatar
    108
    I wonder what folks on the other side of our dollar shorts are believing?
    They're believing subprime is overblown, I believe. Then again, they may be thinking dollar is oversold.

  9. #9
    Glad to see we've got more purists here...

  10. #10
    We've got the same point of view then. The eurusd and gbpusd both seem to be heading higher. The eurgbp has been moving in a strong trend so I am still expecting eurusd to outperform.

    I trade local South African shares and that involves knowing what's happening in other equity markets. From what I am seeing global equity markets are likely to move back above this year's highs. There is a strong correlation between the yen and equity markets at the moment, that combined with a prognosis for higher markets indies the way for a weaker yen. The usdjpy rate might not move much but the other yen crosses could be moving much higher.

    I'll be surprised if the BoJ announcement causes considerably volatility, but when there's any the yen should weaken.
    Resumption of carry trades is right round the corner, as I watch it. Of course, everyone who dumpped these pairs are dying to get back to business at those very attractive prices.

    However, majors/Yen acted weird today, possibly due to the coming BOJ statement, make them oscillate within a wide range... That behavior kept me from conveys today, because I was also dying to extended the c$#@ out of them today...

    Awaiting a new day.

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