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

6EH5 looks very good, but 6JH5 was looking better earlier - but now 6JZ4 looks better as US RTH is coming up. Probably some players and possibly one more MM doing the JPYUSD december thing still.

Having both 6JZ4 and 6JH5 besides each other is pretty interesting.

With the EuroFX it seems to be just as good, possibly a little better on H5 march contract - but that might be just over the timespan I have been looking.
 
I made a ton on the Aussie today. Best day in months. I think I'm gonna either sit the rest of this day out or do some light Euro scalping. It's a cornicopia of scalping :)

Great day!

edit: Oh, and I even got rid of that pesky Aussie short I had for the last month!
 
It almost seems that there is soom good arbing between the december and march contracts off the big slide. This is almost like last month's NFP 200 pip mover - only more dangerous.

edit: you guys are awfully quiet again ...
 
Heh, an independent trader from the Merc interviewed on Bloomberg just now said traders were confused about if there was some european intervention. We have seen no signs, nor substantial rumours of this. Funny with rumours - he also said the 5-yr treasury auction would be closely watched - seeing if they would buy treasuries with the USD purchased. Bloomberg cut him off pretty quickly, and I am sceptical to these kind of rumours always. Traders like to exaggerate and plug in the worst possible scenarios when markets are trading at extremes. Some might call them liars. :)
 
Quote from Gringinho:

Traders like to exaggerate and plug in the worst possible scenarios when markets are trading at extremes.
More...

Heh...just read various posts on the website if you have any doubt about that.

I'm quiet now because I'm done for the day. Blew away my monthly goal...
 
Well, I had some nice damage done this morning. I put on a long trade just before shower before the big slide. Then I kept going on long with tight stops. The usual story, momentary madness leading to account damage.

I'll start going mechanical soon, this will prevent madness like today and also milk most of the "unexpected" moves.
 
Quote from Ivanovich:

Heh...just read various posts on the website if you have any doubt about that.

I'm quiet now because I'm done for the day. Blew away my monthly goal...
More...

Nice job. I suggest you either quit trading for a while or use minimal leverage for the next week or so. My largest damages were done after periods like that.
 
Anyone want to voice some short-term direction opinions ?

I think the dip down to below 1.32 was stop running and panicky - but it also opened up for rounding up a lot of big prizes like the 1.3300 was annihilated.

QM has eased some more as has ZG.
A little correction is most welcome, as it get's the two-way action a lot more involved; making trading safer.

It would be nice if it had start-off of a bigger correction to below 1.3000. Some european fx analysts said the ECB should act on a light and surprising date like 2nd of january, but I think they should act on back of market corrective action - and then maybe a next day follow-up action to the market correction. Sort of like "add insult to injury" strategy. That would over-indulge the fears in the market and work better than just a light day surprise which would be so obvious. Better finish it off when the battlefield is chock full of losers and victims - going in for the kill, so to speak.


So next week could be a good time for intervention, if some fear, uncertainty and doubt still has markets saturated. Just when you think you're safe - you get the final blow.
:D
 
Quote from chinook:

Well, I had some nice damage done this morning. I put on a long trade just before shower before the big slide. Then I kept going on long with tight stops. The usual story, momentary madness leading to account damage.

I'll start going mechanical soon, this will prevent madness like today and also milk most of the "unexpected" moves.
More...

It would be interesting to hear what kind of money management you have set up for this mechanical trading. Is it possible to override, and would you set limits on numbers of trades as well as monetary/percentage limits ?
 
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