[pipsaholic]

Hi,

Would be interesting to know what reasons/criteria traders use to enter trades. I trade the major spot fx pairs. I use MA for trend, round numbers, plus support and resistance on HTF plus candlestick formations with MACD for divergence sometimes trendline’s if they meet up 3 points.

[henryduncan12]

I do not follow any specific criteria for entering in trade. I observe market trend if it show some positive trend then enter for trade and do not forget to set stop loss.

[RichardHK]

Surely the only reason to enter a trade is to make money, right?

I am studying price action with a simple EMA to help decide when the probability for a profitable trade is coming up. If it doesn't work, I get out quick.

[henryduncan12]

Originally Posted by RichardHK »

Surely the only reason to enter a trade is to make money, right?

You are right RichardHK, everyone is trading to make some profit. And therefore they follow some strategies.

[Obsidian]

Originally Posted by pipsaholic »

Hi,

Would be interesting to know what reasons/criteria traders use to enter trades. I trade the major spot fx pairs. I use MA for trend, round numbers, plus support and resistance on HTF plus candlestick formations with MACD for divergence sometimes trendline’s if they meet up 3 points.

I check the overall trend (ichimoku clouds), which way the speculators are betting (CoT report), trendlines, support/resistance lines, candlestick formations

[pipsaholic]

Originally Posted by Obsidian »

I check the overall trend (ichimoku clouds), which way the speculators are betting (CoT report), trendlines, support/resistance lines, candlestick formations

Cool, do you find the COT report useful do you use an indicator I am learning how to read it do you require to calculate it manually I found this website am I right and saying I look for the green line to go with the large non commercial speculators rather than hedgers or small specs?

Charts | Timing Charts

Do you select the currency pair as it states or are we looking at euro future? As fx doesnt have a central exchange?

[Obsidian]

Yes you should be following that green line.
I don't use it as an indicator for intraday trading because that is a weekly report and it does not show pairs separately. However I find it extremely useful because it shows the main trend. I just follow those "deep pockets"

[pipsaholic]

Does the blue or red line have any significance? or just ignore it? do you look at both fx futures and euro/dollar pair on this site or just 1??

Also, i got this info but it baffels me:-

3-MONTH EURODOLLARS - CHICAGO MERCANTILE EXCHANGE Code-132741
FUTURES ONLY POSITIONS AS OF 01/10/12 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
--------------------------|-----------------|-----------------|-----------------
LONG | SHORT |SPREADS | LONG | SHORT | LONG | SHORT | LONG | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF $1,000,000) OPEN INTEREST: 7,662,714
COMMITMENTS
362,301 806,161 1528252 4964207 4374131 6854760 6708544 807,954 954,170

CHANGES FROM 01/03/12 (CHANGE IN OPEN INTEREST: 72,740)
96,173 -29,358 47,640 -170,280 66,069 -26,467 84,351 99,207 -11,611

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
4.7 10.5 19.9 64.8 57.1 89.5 87.5 10.5 12.5

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 235)
38 54 75 125 124 208 214


EURO FX - CHICAGO MERCANTILE EXCHANGE Code-099741
FUTURES ONLY POSITIONS AS OF 01/10/12 |
--------------------------------------------------------------| NONREPORTABLE
NON-COMMERCIAL | COMMERCIAL | TOTAL | POSITIONS
--------------------------|-----------------|-----------------|-----------------
LONG | SHORT |SPREADS | LONG | SHORT | LONG | SHORT | LONG | SHORT
--------------------------------------------------------------------------------
(CONTRACTS OF EUR 125,000) OPEN INTEREST: 294,263
COMMITMENTS
29,770 184,965 1,131 231,765 50,103 262,666 236,199 31,597 58,064

CHANGES FROM 01/03/12 (CHANGE IN OPEN INTEREST: 11,473)
-10,671 5,615 199 18,780 3,187 8,308 9,001 3,165 2,472

PERCENT OF OPEN INTEREST FOR EACH CATEGORY OF TRADERS
10.1 62.9 0.4 78.8 17.0 89.3 80.3 10.7 19.7

NUMBER OF TRADERS IN EACH CATEGORY (TOTAL TRADERS: 183)
28 82 14 48 45 88 129