Ivan's Trade Thread, part II

Just set off another at 134.03 ... so then I'm pretty loaded to be blunt, but set two of them with stops now ...
Off I go now... hot knives before bed and all... not exactly my thing. :)
2x for +90pips , and 2x for +75pips... one with a -40pip stop, the rest stopless and all at €1mn, so a fair amount of risk.

Some rumours of "semi-official" Euro support emerging too... but I wouldn't put much into that. A small bounce seems reasonable anyway, and Japan will certainly do something if they think it gets too wild.

09:42 CET stop-pressuring and -searching right now it seems... but it looks ok a minute later.

09:52 CET Saudi, Russian, EZ news out there - but nothing worrisome...

Better get that touted sleep. :p
 
Quote from davidmaria1:

Just a question. I'm assuming you hedged your long yen trades with the short NQ. Did you cover the NQ trade when your yen trades played out? Or, in which order did you do it?
Thanks, David
More...

NQ trade was stopped out for a loss. The long JPY trades waaay more than made up for it.
 
Hmm, that doesn't look good - 3x trades with €-9k to -11k sitting there right now with around -120pips to -130pips. Certainly a nice foot in a mouth... :(

Improving a 10-15pips as I type and roughly €1k on each, but still not good... and the one with a stop drew me down around €-4k. So, should I hold or kill these... will decide soon.

Here is that "I know better than the market" dangerous attitude, but on the other hand the positions are improving for now...
Well, the "news" out there seem to be little less than fumes - which makes it a decision of stubbornness... but I will watch the trades if there is a potential consolidation or further downside to this - what kind of market action there is at play now.

Sarkozy and Berlusconi/Italy seem to have "lost it completely..." and started hiding in a cave. :p

Need 133.50 convinced for the EURJPY to be "safe"...
 
I lost my connection to Oanda. Just as well, I was down 30 pips this morning, and I felt the old "vengeance" trade coming on.
Good thing I had no open trades...:mad:
 
Got a massive realized loss on the Euro... €-100k (killed all trades, also long-term)
...and it seems the shear amount of news today was too much for investors, which led to repatriations in scores -- and this drawdown mechanism from the carry trades etc unrolled and general fear.

Trying to see this bottom forming and getting the bounce back in here, but it seems like the doom and gloom has set in for the day, so any bounce will be very frail. Still - trying to catch those bounces is what I do for scalps now.
:)

It's not that bad when it comes down to it as I am still very much up from my previous scalping... I just suck more at the other types of strategies, it seems.
 
Quote from Gringinho:

Got a massive realized loss on the Euro... €-100k (killed all trades, also long-term)
...and it seems the shear amount of news today was too much for investors, which led to repatriations in scores -- and this drawdown mechanism from the carry trades etc unrolled and general fear.

Trying to see this bottom forming and getting the bounce back in here, but it seems like the doom and gloom has set in for the day, so any bounce will be very frail. Still - trying to catch those bounces is what I do for scalps now.
:)

It's not that bad when it comes down to it as I am still very much up from my previous scalping... I just suck more at the other types of strategies, it seems.
More...

tanking equity market supporting dollar. Equity market will be below previous lows within a few days.
 
trackstar,
yes - I knew there would be more pain for equities --- but I guess I had underestimated the repatriation effects... I guess I will have to hone my "shorting Euro" skills too, but I would rather stick to picking up bounces - although those seem pretty bleak right now.
:)

As for scalping strategy - I find it easier to stick to something like strong volatility or one defined trend. The mixing of short as well as long signal discretion is not very easy... I think this is the one strong bias of my trading style - so that excludes some market conditions from my trading style. Today has been such a conflicting condition so far... but I need to learn to evaluate conditions constantly, and there are no "daily limits" on market conditions - although many human traders will choose to divide conditions this way...

Leverage hurts a lot - or at least is very risky. My largest gain was around €53k from one scalp with stupid leverage (€10mn), and this drawdown of €-100k was also highly leveraged (€7mn) - and then a €-4.5k which was stopped earlier. But taking on leveraged trades while leaving them for "autopilot" is really not "smart" - as today proved. Sure, the trades were up roughly +40pips at some point - but then came a huge drawdown. If I had monitored the trades, I would (hopefully) have secured profits like I usually do - but since I was not this strong drawdown ate a good sized chunk out of my latest profits...
 
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