Jem's Uber Basket Trading Thread

[harry89]

Are you talking about Eur/Chf? If so, it's because the Swiss are trying to peg their currency to the Euro and they will intervene if it the Franc goes up against the Euro. The S Franc is seen as a safe haven currency like the Yen, only more so. The appreciating Franc is hurting the Swiss economy.

[Armen]

Spyderman, let him slip. He has done a great job.
Yet, we did not see that awesome dance of the year.

[garyfritz]

Why is the E/F so flat. I'm not to big on fundamentals.

Swiss central bank pegged the exchange rate last September, to 1.2 Francs per Euro. They had lots of reasons, mostly around protecting their exporters.

As a result, EURCHF has barely budged off 1.2000 since about April. Since EURCHF is a "constant," that means EURxxx and xxxCHF are almost 100% correlated.

[spyderman]

Interesting. What tangled webs we weave.

[harry89]

Bailed on the basket at breakeven, tired of sitting thru all this consolidation, which could also be the beginning of a reversal, they have had a good run. But, pivots are still holding, so my close is probably premature.

[spyderman]

Trying to hang tight. Up about 30 pips.

[harry89]

Good for you, they all look fine, now. I wasn't using the Shelly EA, so, manual SL's are a problem with a 10 pair basket. Have to get it set up.

[spyderman]

I used the EA but I moved a lot of the stops manually that looked like they were weakening.

[Jemook]

Spyderman, let him slip. He has done a great job.
Yet, we did not see that awesome dance of the year.

Oh, it's coming don't you worry.

Bailed on the basket at breakeven, tired of sitting thru all this consolidation, which could also be the beginning of a reversal, they have had a good run. But, pivots are still holding, so my close is probably premature.

Don't blame you! I think this was a good move and I did the same for +25 pips. We can always wait for another setup. If you can master the art of closing a loss/non-performer while your brain is saying to you "keep it open, it it might still move!" then you will save yourself a lot of losses.

I used the EA but I moved a lot of the stops manually that looked like they were weakening.

I think it's fine to do this. Let's see what the new daily pivots show us.

[kelisa]

Looks like priices are consolidating. EU is forming a nice pennant/flag in D1