Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
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I went long 1.2896, 1.2919, and 1.2930. I held it as it went down to 1.2858, and I would have bought again if I had any resources left in this account. But then I sat there and watched it creep back up .. going to sell soon after I break even through all of this (hopes)
edit: not the preferred way of doing things in my book, but the thought of taking such a big loss when it dropped into the 60s killed me even more.. I'm fairly hard-headed ;o)
On the back of the movements we saw friday, the hindsight might tell us that it was "not too surprising", but anyone saying that would look rather stupid if you ask me.
Maybe the pundit on the Bloomberg UK earlier was right - the USD will move - he just didn't say which direction - which effectively is unchanged now given yesterday's close.
The market conditions continue to be difficult - too difficult if you don't want to get into the dangerous waters of over-trading.
Are any of you NOT over-trading today ?
I also over-traded a little but after getting chopped for -20 ticks I stopped. It didn't make sense to continue, and I'm not going to up size to maddening levels like last time I got angry at the market.
The Thomson guys who commented earlier - monday, - that it was an options-controlled market was right - and it still seems to be.
Maybe the pundit on the Bloomberg UK earlier was right - the USD will move - he just didn't say which direction - which effectively is unchanged now given yesterday's close.
The market conditions continue to be difficult - too difficult if you don't want to get into the dangerous waters of over-trading.
Are any of you NOT over-trading today ?
I also over-traded a little but after getting chopped for -20 ticks I stopped. It didn't make sense to continue, and I'm not going to up size to maddening levels like last time I got angry at the market.
The Thomson guys who commented earlier - monday, - that it was an options-controlled market was right - and it still seems to be.
I believe knock-out option activity and the fact that everyone "knew" it was going to trade 1.300 acted like a magnet early on. The Trade numbers were disappointing and the Dollar rallied across the board. Personally I was a big seller all the way down to protect my days gains. Starting at 129.55 and my final sale was @ 1.2875. I'm back in the market buying pretty aggressively now as the dollar is weakening up and is now focusing on the events ahead. Retest and likely sustained break above 1.3000 is imminent in my opinion. May occur later today. Wild day, nonetheless. If we close at or above 1.3000 today, look for smoothly stronger EUR in the days ahead. $ downtrend remains intact and today's activity has thus far flushed out the weak-handed dollar bears from an otherwise overextended position.
There are always a swell of rumours on action like this - most of it lies and fantasies.
Right now we're smack middle of the extremes of the day ... trying to call it from here is not that easy.
Yes, I do agree that a 1.3000+ close or even 1.2970+ close at the weakest will mean we go 1.3+ with fairly easy headway.
Right now we're smack middle of the extremes of the day ... trying to call it from here is not that easy.
Yes, I do agree that a 1.3000+ close or even 1.2970+ close at the weakest will mean we go 1.3+ with fairly easy headway.
Quote from Gringinho:
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Are any of you NOT over-trading today ?
I also over-traded a little but after getting chopped for -20 ticks I stopped. It didn't make sense to continue, and I'm not going to up size to maddening levels like last time I got angry at the market.
The Thomson guys who commented earlier - monday, - that it was an options-controlled market was right - and it still seems to be.
I definitely overtraded, my P/L took a wild ride!