Anyone short EURAUD or EURCAD?
…which brings me onto another method - this is more feel than science.
When a pair moves way beyond it’s normal daily ranges or well away from the 20MA, look for a pullback.
Never traded those pairs San, for some reason I dont like EURxxx pairs other than EURUSD. Are they good pairs? Or are the high spread and low movement?
The spread is a bit higher, the reason I trade them is the trend in the pairs (particularly EURAUD) and also the carry trade. A short on EURAUD earns you interest if held overnight. Any shorts on EURCAD will probably do the same in the coming months if Canada up their rates.
Hey SM, great idea… didn’t someone already design an indicator using that concept? Think his name was bollinger or something or other! LOL! 
Hahah, lol.
Yes, but as you well know it,s not as simple as price has moved way beyond the bollinger so trade it backwards…well the theory is that simple but the entry is important.
I awlays try to have 2 reasons for a trade. PA outside the bollinger is only 1.
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Thats interesting, I think IBFX changed all their rates so ANY trade held overnight yields a negative interest. Ill see what I can find out
I’m not sure that’s legal in spot FX.
In shorting the EURAUD, I’m essentially buying the AUD so they should give me the country’s interest rate minus the LIBOR margin rate, ie
AUD - EUR - LIBOR
I havent gotten a positive swap rate off IBFX in quite some time lol
No but did a couple boll bounces on GU this morning.
We should all meet in that chat room again and talk about boats n stuff.
You’d probably only get it with buying the AUD at the moment as it’s the only country with a high enough interest rate.
Hasnt been much action for me the last few hours, just holding onto a few trades. Anyone else makin pips atleast?
Edit:
Last 24 hrs of trading produced 7.9% gain. This is a different strat then RC’s new one and it involves trades that may not align with the direction of the monthly or the daily. Do you guys think this isn’t a big deal, or should I only take signals that are in the same direction as the monthly and daily?
Well, i wont blame you with your human right advocate point of view. But i am so sure if you were the one he was attacking the way he did,you wont be talking about human right.Keep your thought to yourself and NEVER reply to my post again.I dont want fake human right advocate who cant talk when others are being uncivil around me.
Good luck
It’s a matter of percentage trades scooby.
Those with the trend are going to give you the most chance of being right.
But if you know what you’re doing or have reason to believe a counter trend trade is fine then go for it - it’s simply that over say a few hundred/thousand trades, the counter trend trades will be less successful - but as always it depends on the reasons for the counter trade. What are they in this case?
I take counter trend trades all the time but they are usually only for a small amount of pips 20,30,40,50. With trend trades, I am more inclined to let them run using the MAs to tell me when to get it - if the trade stays above the 50MA and trend has been up then I’m not exiting.
Well, I’m done practicing with this new strat, now time to fully demo RC’s new strat with the monthly/daily and 2/4 hi/low LWMAs. Went well last time so lets see how things go 
Anyone have a good idea on how to trade a new month? Would it be a good idea to trade the daily in the direction of the previous month until a reverse in trend? Or wait for a new month to establish itself, but then how long would that take? Maybe its just a good idea to simply trade the daily? RC’s strat always confuse me somehow lol.
RC’s strat always confuse me somehow lol.
I am pretty sure the main thing with RC’s strat is to sell when price is going down and buy when its going up:D. OB/OS can be shown by many indicators and is used to enter exit. He changes up time frames and specific indicators but the concept is the same.
you make it sound so simple lol
Gonna close most of my EURAUD here and leave 20% run (opened 1.5143, closed middle bollinger 1.4551), I’ll look to add on again if it retraces and depending on what the EURUSD does.
Also, leaving 100% of EURCAD open at break even and if it comes back to hit the SL then tough luck
GBP/USD gonna go up anytime soon? :rolleyes: lol this trade may be a loss
When did you go long?
Gotta use those trendlines I got the 3rd bounce for some pips but didn’t take any of the others.
The Daily chart actually looks a bit bearish, hasn’t had a strong bounce up yet in over a week.
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Went long at the worst possible spot :D:D