[thalestrader]

Now my daughter and I are sitting here watching the Eagles trying to comeback against the chargers, and we did not trade this EURJPY. But, watching the EURJPY make its way to PT1 and then on to reach the PT2 had our attention more than the Eagles attempted comeback.

Our trading chances look much better than our chance at a Super Bowl at this point.

Best Wishes,

Thales

[thalestrader]

Originally Posted by MidKnight »

Good long on EJ Thales, I can see how your last chart was of use - very clear indeed

We didn't trade it, MidK, sorry if I misled you.

Best Wishes,

Thales

[thalestrader]

Originally Posted by MidKnight »

The only real benefit with Oanda (IMHO) is the complete flexibility on lot size. Size it in any way you like from $1 up to (I think) $20m per order.

I agree. But with microlots, you should be able to manage risk through position sizing at FXCM as well. You can manage risk well at IB also, except IB does have a minimum trade size.

Best Wishes,

Thales

[Gabe2004]

Originally Posted by thalestrader »

And another look at the EURJPY ...

clearly, as you can see, it is clear that EURJPY ...


Best Wishes,

Thales

I prefer the white indicators

Gabe

[thalestrader]

Originally Posted by Gabe2004 »

Took a short on EJ because the news were good for the JY.
Lost 30 pips.

Gabe

This is the closest thing I see to a short entry on the EURJPY.

You shorted because the news was good for the Yen? That reminds me of something President Reagen once said about his political opponents: "It's not that that they are wrong, its just that they know so much that isn't so." You may be right, but let the market confirm your opinion before you put your money on the line.

You ought to go and do a search for Firewalker's old thread, "All You Need is a Chart."

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

This is the closest thing I see to a short entry on the EURJPY.

Well, let's see what we got ourselves into now.

Best Wishes,

Thales

[daedalus]

Just curious why you guys like the spot forex so much? Personally I love being able to specify EXACT prices for entry and exit and know I have the exact same spread no matter what time of day on the CME contracts.

Obviously if you have a very small account or need to trade 20 pairs, but I think there is more action than I can ever trade on 3 pairs, let alone 8 or so they offer. And you can trade 1 lot on a 2k account with places like AMP Global or Infinity.

[MidKnight]

Hi daedalus,

My personal preference for the spot market is for several reasons:
1) I'm not awake for most of the USA trading hours
2) I'm not trying to be a scalper so it isn't really action that I'm looking for. I am trying to get away from scalping tendencies
3) Because I'm trying to get away from scalping and focusing more on bigger timeframes for bigger moves, I would prefer about a dozen instruments of which to look for larger picture SR.

With kind regards,
MK