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Later today and tomorrow might get interesting or very "spikey"--There'll be several Fed speakers commenting. The first one is coming up in about 25 minutes. 10/7 17:45 US Dallas Fed Chief McTeer Speaks 10/7 14:30 US Fed Chairman Greenspan Speaks 10/7 09:30 US Fed Vice Chairman Ferguson...

I did an overnight long trade Monday night and only 2 trades yesterday. Today, I'm also at breakeven after several quick trades. I missed the down move earlier but shorted the bounce thinking that at least we'll see double bottom. The recovery was very fast. Then, I was on the long side for a...

Electronic EURUSD futures won't be affected but volatility might be low since US banks will be closed.

If you have volume sensitive decisions, then IB data might not be optimal but if you're backfilling almost in real-time that should be OK too. I used to have problems with TS lagging IB but they seemed to have corrected the problems.

1MBs is not bad at all. I think that should be more than enough for following FX plus a few other markets. By the way, is your main data feed IB?

I'm sorry to hear about your ISP. What's the speed of your Internet connection? I'll be surprised if there is any major buying today. Not many buyers for the dips so far.

Well, this thing crept up before the US open on Thursday open and went before the US open lat night.

I managed to avoid looking at charts since Friday. Actually, it's been a long time since I coded new indicators/systems. I believe I have all the tools I need--and they are very simple. The most complex part of the "system" is myself. My own "madness" shows up once in a while and it's like an...

There's one more thing about Friday. I usually feel compelled to make profits so I can feel good about myself over the weekend. This is also true for the days before I go to vacation. Whenever there's a break from trading, I'm very careful during the last day since I know that I have these...

Yes it's already Friday afternoon in NYC and with this choppiness, I don't think there'll be any sustained move in either direction. I took my little # of pips since I invested so much time in them :) I only slept 3.5 hours last night. I'll hang around another hour or so and then go back to bed.

I couldn't wait any longer and got out with +4 pips after almost 110 minutes!!! I didn't want to get caught by the swords :)

That was right on! What is a "real money account" ?

Ugly chart so far. I'm long from this dip now. It's mostly based on bonds recovering from their dip. I have a problem with profit taking. That's why I prefer trailing it. Almost half of the time when I decided taking profits, there were much deeper moves. If I trail them I risk 15-20 pips...

I tightened my stop and added some more and got stopped out at 1.2403. I think we'll chop here for a while with a slight long bias. I'll wait until after ISM numbers to open a new position. Earlier in the weak, I traded according to my plan. I had exact entry and exit numbers displayed by...

I'm still short from yesterday's session. When I went to bed late night, I moved my stop to the entry level 1.2423, 4 ticks away from then current market (5am EST)and didn't get stopped out! This was a nice little surprise in the morning.

Yes, missing out the nice clean upside move definitely made the trick. Although I was initially short biased, I was long for a while but then went back to shorts. Most of the day, the price was over my adaptive MA indicating a long bias for my plan. I'm still partially carrying my 1.2423...

I know what you mean about making money with trades outside of the plan. Quite a few days have been saved by these "chance" trades and thus strengthened the bad habit. That's why I started keeping track of how much I stick to my plan beside daily P/L. I know I have this bad habit, I don't...

Lon Eagle, You make a lot of sense. I agree with what you wrote. Regarding scalping, I'm the same way and I can't keep up with it since it's very demanding. I do have a very good and simple trading plan. I spent lot of time developing it. But the problem is some days I can follow it fine...

Risk: 20% Entries:20% Stops/Exits: 80% Total: 35% Very poor! I overtraded today with high leverage. And it keeps getting worse. Today's P/L -46 ticks/contract! Another mini disaster. Not sticking to the trading plan at the beginning of the day caused a chain reaction of bad trading.

Yes, it feels like I'm swimming along the Cape Town shores with fresh and bloody fish tied to my ankles :)