Not to keep going off topic but I see so many people excited about the Mars probe. My feeling is that is exactly why Space exploration should not be run by the government. We sent men to the moon over 40 years ago and we are sending a probe to Mars today?? Who cares lol. Send a man (or woman), now thats water cooler conversation.
Okay the only trade I currently have active is the USD/JPY [B]short[/B].
But I have 2 [B]buy[/B] orders sitting @ 78.05 and 78.10 for the USD/JPY with the stops set @ 77.85.
I have also just placed 2 [B]buy[/B] orders on the GBP/USD @ 1.5500 and 1.5510 as there are bids @ 1.5500-10. The stop on GBP is 20 pips and the targets will be 1.5530 and 1.5550.
I’m going to take a nap on the sofa for an hour. Will be back at 10:30is or when one of my chart alarms goes off!
ps: Regarding the 2 buy orders on USD/JPY and GBP/USD, these total 2% risk.
So 1% risk on the buy @ 1.5510 and 1% risk on the buy @ 1.5500… so my total exposure on the GBP will be 2% of my account if both orders trip.
Thats the same with the USD/JPY!
I only ever risk 2%. Just thought I would clear that up!
Before I take my nap… you maybe asking if you can go short GBP/USD down to the 1.5500-10 bids.
I would not recommend doing this, as there is no reports of sell stops between where price is trading and these levels. My orders on the GBP are set to scoop up the bids should price eventually move lower over the course of the day. If there was sell stops below the market price, then I could go short. But no sell stops reported just now. So you would be taking a gamble on a short.
Just play the flows reported!
Thank you sir!
I was going to ask this question but now no need to, thanks
Thanks San.
Please tell me how you are able to download this file 
Register with the site, click the download link, you need to wait 20 seconds or so. Once downloaded extract the files and watch. I’ll watch it later after work.
Thank you for the trade information. But rather than just following you blindly i would like to understand how you came to those trade decisions. A brief explanation would be great if you wouldn’t mind. :53:
ralphar…click the download link a page or two back. Its like a 4-5 hr webinar. That should give you a clear understanding of whats going on.
I attended the webinar on Friday but just wanted to understand Davids thought process. I see the bids/offers etc and want to make sure i am analysing the market using the info from the webinar correcty.
The USD/JPY trades are found back at IFR. There are bids sitting at 78.05-10, solid Japanese bids ahead of 78.00, trail down. However, the GBP/USD bids i can’t find on IFR. Perhaps i’ve looked over it. But they are based on bid levels as he said in the post.
Thanks Mones, i thought it was just me being stupid. The U/J I can undertand but the G/U does not fit with my analysis.
Hi,
The USD/JPY trade was based around the market being pretty well offered at the higher prices and having sell stops below. This was indicating to me that the market sentiment at the current price was bearish, but the sentiment will change to bullish if the 78.00’s are tested. With all the offers up @ 78.80 to 79.00 this was showing me that they are trying to keep price below. I know that the BOJ don’t want it below 78.00, so I’m simply playing the bids/offers and sell stops in between 78.00-79.00… effectively range trading.
As far as the GBP/USD orders go, they are really the only levels reported this morning. The market is pretty quiet overall. I have not heard anything about sell stops on the GBP so I’m not saying that the 1.5500-10 area will be hit today, but if it is, then I have been told there is large bids there, so if we do see this zone tested then I want to play it. This is why I have placed 2 buy orders. Also if the GBP hits those levels then it will have moved its 14 day average range.
Apart from that its a pretty slow day… just a typical Monday following on from NFP
ps: I’m sure there is other flow for other pairs, but I’m taking it easy today and just looking at the U/J & G/U.
Excellent, thanks. My analysis for the U/J was very close to yours so i’m happy with that, but the G/U analysis wasn’t even close.
Sounds good. Thanks
Ralph, have look at the following thread on BabyPips, It will give you the base information
Gerry
Everything seems find thank you :32: