FX Incubator Fund Journal
- Thread starter JuniorCTA
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fatal mistake
Changed target to $1.2690 firm from $1.316. Average position is now $1.362.
Staying toe-to-toe with the market is a very risky en devour. Did not realize the sell-program would drive prices this high.. My eyes have been glued to the front-end (in case manual intervention was necessary) and haven't gotten much sleep this week; although it has been a very fun week. A test in patience & execution.
GJ is an excellent short opportunity from 131.536 to 129.500.
USDCHF target to parity is also at play.
Slightly above $2,600 now should be at ~$3,200 by tomorrow. We'll see how it goes.
Happy Trading
Staying toe-to-toe with the market is a very risky en devour. Did not realize the sell-program would drive prices this high.. My eyes have been glued to the front-end (in case manual intervention was necessary) and haven't gotten much sleep this week; although it has been a very fun week. A test in patience & execution.
GJ is an excellent short opportunity from 131.536 to 129.500.
USDCHF target to parity is also at play.
Slightly above $2,600 now should be at ~$3,200 by tomorrow. We'll see how it goes.
Happy Trading
Average position now at $1.3717.. cut some losses(roughly $300) and position is now $31,594 been holding on to this EU short for 2 weeks now.. something's gotta give. There is no substance to this euro rally.
Whoever is buying it (OANDA dealing desk, etc) is doing so to run stops & then is going to dump it all. I don't blame them, as I have TPs set up essentially on every pip down to $1.2690, for trying to evade my TPs.
Looking back I should have waited till UJ was at 83.14(end of gap after intervention) to start going short on EU. Saw it coming but acted a bit early.
Will post balance after positions are closed. I am down about 6 days. account balance should be at $3,256.00 but stands at $2,728.
Have a good weekend
Whoever is buying it (OANDA dealing desk, etc) is doing so to run stops & then is going to dump it all. I don't blame them, as I have TPs set up essentially on every pip down to $1.2690, for trying to evade my TPs.
Looking back I should have waited till UJ was at 83.14(end of gap after intervention) to start going short on EU. Saw it coming but acted a bit early.
Will post balance after positions are closed. I am down about 6 days. account balance should be at $3,256.00 but stands at $2,728.
Have a good weekend
I sold lower amounts when I started and kept cost averaging. Started going $1 contract size, then $5, then, $10, took about a 500 pip upswing to get positioned in a 20k position. I have a super position broken up into thousands of trades and intervene with a bigger trade to adjust, or when the trade is "ripe." The bigger trades are managed more closely because I can't let them go too against me.
Last 2 weeks have been pure volume games. Dumb money just moving the markets with size not strategy.
Im sorry about your friend, hope all is well...the markets will always be here when you are ready
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