Chinook's EUR/USD (E/$)Mumblings

Anemic trading by myself today and yesterday. Made +2 on 1 trade yesterday and have +1 after 6 trades today (3 b/e trades - so a little commission making the red here). Can't seem to decide on a short-term bias which is right, which indicate some confusion and range-bound trading, I guess.
Yesterday's (as well as day before) RTH trading was very toothless, while we got into some good action today just before US equity markets opened and even later on. Still, I struggle to find any good setups, so I keep number of trades as low as possible. If I can't get the short-time bias right, then it's not better to try to do some coin-flipping; better to stay out and wait. There can be some action on friday, although it could also be as anemic as the GDP release earlier - given possible oil price hikes.

Chinook, I guess you struggle seeing any big moves intraday as well ?
 
Quote from Gringinho:

Anemic trading by myself today and yesterday. Made +2 on 1 trade yesterday and have +1 after 6 trades today (3 b/e trades - so a little commission making the red here). Can't seem to decide on a short-term bias which is right, which indicate some confusion and range-bound trading, I guess.
Yesterday's (as well as day before) RTH trading was very toothless, while we got into some good action today just before US equity markets opened and even later on. Still, I struggle to find any good setups, so I keep number of trades as low as possible. If I can't get the short-time bias right, then it's not better to try to do some coin-flipping; better to stay out and wait. There can be some action on friday, although it could also be as anemic as the GDP release earlier - given possible oil price hikes.

Chinook, I guess you struggle seeing any big moves intraday as well ?
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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 bit but again its momentum died down.

I don't think we have any strong directions now. I have a feeling that we'll be stuck between 1.2284-1.2305 in the futures for a while.
 
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 Speaks
10/7 08:00 US Cleveland Fed Pres Pianalto Speaks
10/6 20:45 US Kansas CIty Fed Pres Hoenig Speaks
10/6 13:00 US St Louis Fed Pres Poole Speaks
 
Quote from chinook:

I'm long here from 1.2283. If I get stopped out, this might be the last trade of the day.
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How wide stops do you trail on a day like today ? Are 10 tick profits good, or do you wait for bigger fish ? :)
 
I initially used 10 tick stops. But now tightened them to 4-5 ticks. I've been taking 5-6 pips profits on several trades--no whale sharks today :) I found my harmony with the markets today. Now on this last position I'll go for 15-20 pips profits.
 
I got lucky too with a 11 pip short, and I guess that's it for today. :)

edit: actually, I couldn't resist a little long around here ... micro-position, though. :)

edit2: got out on second thoughts for another 4 ticks. Total 16 ticks on 8 trades, but that's it too for today.
 
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