You're right, the market is almost always open. It's easy for me to see the charts and say that I missed the good moves while I was sleeping! I'm still tuning my system. I use tick charts. It's similar to yours but I'm using tick charts. 2000 tick bars instead of 30 mins chart. Of course, the biggest problem is how to trail. I don't think there's a good solution for this. Perhaps the best thing might be to take partial profits at major MA's, Resistance/Support levels and trail the rest loosely. Chinook
Ah, I knew there would be a catch, and there is: they define a range of prices that you can choose from. I need to play around with it a bit more, but I'm not abandoning the idea of options. I also figured there would be a catch in terms of the premium paid, and there is: one option I was looking at, I'd have to pay $1000 to receive a $1000 payout. I don't trade the news because I don't know how the market will react to it. As I get more experience, I'll start going after things more aggressively, but for now, I'm just trying to trade the setups that look to have the most potential for success.
Baruch, was trading stocks but lately mostly YM which I quite like except for Wednesday when that reversal wiped a couple days profit.
baruch, I trade before the news, sometimes hedging, but most of the time if the currency is going up already news has a good effect on it.
Hi again, Maybe you should shop around? I know Saxo Bank also has some trading in options. No, we can't always know how the market will react to the news. But most of the time it's OK just to follow the flow - with a tight stop.
Hi again, OK - I think it's better to trade forex than stocks/indexes. Before I traded indexes, mostly Dax, but I prefer the forex world.
Actually, I've been looking at Saxo Bank. I'm most likely going to open an account there, but I want to give it a few more months first. I think I may be able to make the options through refcofx work, so I think I'm going to take a shot at a few of them. I was playing around with it before, and I may have to pick a profit target instead of what I had wanted: a price the pair wouldn't touch. C'est la vie; I'll make it work.
When things are slow, using tick charts compresses the time axis. I think overall indicators behave better this way. This is more useful for smaller time frames like 5-min charts. If you're using 30-min charts, then I don't think tick charts will make any difference. Chinook