Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
This week specifically - but like for 1h - 2h ahead. Well, not just ahead of the NFP release, but in general this week. To me it seemed very predictable, and difficult to go wrong.
edit: I think it's fairly safe to buy low 20s or around 15-ish for a test somewhat higher .. or even longer term reach out for 1.3000 - although I'm not sure on how easy next week will be. This weekend provides reflections, and monday will likely see some more corporate hedging as Thomson points out on options comments.
I just had to do a dem position from low 20s to target of around 40-ish at around 50% ful margin.
Oh I see. Well this week was easy if you had a long bias--most of your reports were favoring the long side. I had a neutral bias and ended up trading short side too. At least for me, I had better discipline this week in terms of leverage and patience.
Edit: I'm trying to get in at 1.2921. I missed the pullback...
I also see it likely to creep up to 40s eventaully later today.
Yes, but I have some kind of "fundamental long bias" because of my view on US and global economy.
I too am getting better patience with the help of some of my demo trading and letting that spill over into better position trading - although they are rather intra-day big moves - like those you normally go for.
edit: I don't especially think that it'll hit 40-ish today, but monday-tuesday is fine on this spot demo trade.
The little bugger is getting closer to 40 - although it's a slow crawl. No hurry though. It'll probably step up a little into the close with this developement - if no bigger choppers get in there.
Closing above ATH will be quite a feat today.
ES, S&P500 is a dead cow in comparison to the swashbuckling EuroFX.
Closing above ATH will be quite a feat today.
ES, S&P500 is a dead cow in comparison to the swashbuckling EuroFX.
Before doing too much size, make sure that you have your mental balance is in shape for your position trades.
A while ago I tried both scalping (my scalping is more like 8-10 ticks) and intraday position trading at the same time. For instance, I would scalp during the range trading and then hold positions if a trend develops and trail my stops. It worked good for a while. Then I increased size and then went nuts, started revenge trading etc.. When I feel ready, I might give it a shot again. The problem is sometimes I miss the big moves during the European session, then get chopped during the US sessions since I'm always in the intraday swing mode. I look at the MFE of my losing trades and they are almost always positive with an average of 5-6 ticks. As long as, I don't lose control, trading open to both modes is quite lucrative. However, switching between the two modes requires lot of discipline and alertness.
Quote from Gringinho:
The little bugger is getting closer to 40 - although it's a slow crawl. No hurry though. It'll probably step up a little into the close with this developement - if no bigger choppers get in there.
Closing above ATH will be quite a feat today.
ES, S&P500 is a dead cow in comparison to the swashbuckling EuroFX.
Yes, it might be a slow creepy death for shorts later on today!
Indeed, ES sucks compared to the EuroFX. But I'm glad I'm not trading crude oil intraday, I would have been raped left and right
Edit: This is it I'm not trading anymore today. +32 ticks net, another 21 ticks for commissions. Traded like there's no tomorrow with about 25-30 roundturns.
It's so utterly amazing, but my demo is close to 600% up now - this week alone. I wish this was real money!
I of course hope I can take some of this courage into real trading on EuroFX, but I know that the minute impact of my trades would still make different effects - I see the effects many times - where my EuroFX trades trigger something.
Also, I need to keep reminding me that newxt week is not election week, and there is no big thing to look forward to trading. Now we're getting into more technical and mechanical trading effects I believe. I'm partial to thinking that some retracement will come, but perhaps mostly on basis of rate hike perceptions by the Fed.
If we can close over 1.2940 it will be equally amazing - and markets might become action-paced next week too.
If I can't get better trading out of this demo trading, then I must be thick as a log.
I of course hope I can take some of this courage into real trading on EuroFX, but I know that the minute impact of my trades would still make different effects - I see the effects many times - where my EuroFX trades trigger something.
Also, I need to keep reminding me that newxt week is not election week, and there is no big thing to look forward to trading. Now we're getting into more technical and mechanical trading effects I believe. I'm partial to thinking that some retracement will come, but perhaps mostly on basis of rate hike perceptions by the Fed.
If we can close over 1.2940 it will be equally amazing - and markets might become action-paced next week too.
If I can't get better trading out of this demo trading, then I must be thick as a log.
I shorted with about 90% of balance on spot demo in mid 60s now ...
Let's see if I can't reach a 1000% soon on that account. Just couldn't let such an opportunity pass.
I pity anyone who has been short for most of the day, it must have been devastating.
edit: reduced it to around 80% on fear of possibly getting stopped out, but will let it alone now.
Let's see if I can't reach a 1000% soon on that account. Just couldn't let such an opportunity pass.
I pity anyone who has been short for most of the day, it must have been devastating.
edit: reduced it to around 80% on fear of possibly getting stopped out, but will let it alone now.