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Jem's Uber Basket Trading Thread
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=640		 Page 22 of 112
Author:  harry89 [ Tue Jul 03, 2012 4:06 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
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.
Author:  Armen [ Tue Jul 03, 2012 4:09 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
Spyderman, let him slip. He has done a great job. :D
Yet, we did not see that awesome dance of the year. :) :D
Author:  garyfritz [ Tue Jul 03, 2012 4:11 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
spyderman wrote:Why is the E/F so flat. I'm not to big on fundamentals. :mrgreen:
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.
Author:  spyderman [ Tue Jul 03, 2012 4:51 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
Interesting. What tangled webs we weave. :ugeek:
Author:  harry89 [ Tue Jul 03, 2012 5:03 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
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.
Author:  spyderman [ Tue Jul 03, 2012 6:06 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
Trying to hang tight. Up about 30 pips.
Author:  harry89 [ Tue Jul 03, 2012 6:13 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
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.
Author:  spyderman [ Tue Jul 03, 2012 6:21 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
I used the EA but I moved a lot of the stops manually that looked like they were weakening.
Author:  Jemook [ Tue Jul 03, 2012 10:31 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
Armen wrote:Spyderman, let him slip. He has done a great job. :D
Yet, we did not see that awesome dance of the year. :) :D
Oh, it's coming don't you worry.
harry89 wrote: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.
spyderman wrote: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.
Author:  kelisa [ Tue Jul 03, 2012 11:48 pm ]
Post subject:  Re: Jem's Uber Basket Trading 10.2 Thread
Looks like priices are consolidating. EU is forming a nice pennant/flag in D1 ;)
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