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Cascading stops can occur when stops that are big enough to move the market are at different levels that are close together. For example, if many have long positions and the price falls to a level that triggers sell stops this can move the market down to a level that triggers more stops, etc...

Neal, Are the futures that are "created" really created? In other words are they executed on Globex/in the pit and do they count in volume and open interest stats? Thanks

Hmmm.... I just went back through all the Yellen headlines and stories on the Dow Jones Newswire and they didn't mention the comment on the $. Does anyone know how much a Reuters' terminal is?

Probably.

There wasn't really anything USD negative. A while back every time he said the words "strong dollar policy" the euro would spike as if traders were saying "yeah, right" but I thought the market stopped caring what he said unless it was at a G-7 meeting.

I can't believe that anyone cares what Snow said but his interview on Bloomberg corresponds to the spike in the Euro and cable. Anyone have any other info?

Well my chart for EUR/GBP isn't working...note to self--get a better chart package asap. If you look at a daily chart you will see that GBP has been weak for a while. Basically, the UK economy has topped out and it looks like UK rate increases are done. A few months ago their economy was on...

BOE rate decision tomorrow morning. Focus for Cable should be switching back to the UK economy.

I don't follow the options much but I would think that we have to get some more volatility in the Euro shortly given that we have been range bound for so long. I've been short cable for about a week and a half; it's acting much heavier than the Euro. I'm looking for 174.81 but may take profits...

Trading intraday I always find that if I'm really happy with my profits, it's usually a good time to exit the trade. If it turns out to be a trend day you can always get back in for more. I find that I can think better after I exit the trade. Also, I try not to beat myself up over missed...

GBP went through the neck line earlier this week.

http://www.nqoos.com/Articles_and_Reprints/jesse_livermore.pdf

Good call. Are you trading spot or futures? P.S. Watch out for the housing number in 20 minutes.

Good entry! I went long at 1.2103 on the way down and got out at 1.2110 29 minutes later. Sorry to not post the entry but I wasn't taking my hand off the mouse. Time for me to take a break.

Well that wasn't quick or pretty but I got 40. btw- Chinook, if you don't want me cluttering up your thread with trades, let me know. Cheers

Long 35, looking for quick scalp to 40, half the leverage that I had on the earlier trade.

Well I don't know whether to feel like a moron for not shorting or to be pleased that I exited near the top (current price 1.2139) but I guess the bottom line is that I banked some cash which is always a good thing :-) Still flat; waiting to see what the rest of the NY open brings & later...

I missed this part earlier. No, I'm trading spot now. Looks like I got out a little early; current price 1.2165. I'm not sure why, probably because of the time, but I need to see more to get back in long.

I got out at 1.2161. Probably too soon but I had a good bit of leverage on this trade so I took my 20 pips. I'll get back in if there is more directional movement. Cheers

Ouch...did you get stoped out? I was thinking the 20 area but I gave it a little more room becuese of the time i.e. thin conditions.