It was a chopped up light trend up day! I think we'll see some more downside from here, possibly a retest of 1.2280-90s. I was exactly thinking about trading during the ballot count too! It might be wild with couple of over-reactions both ways.
Today kind of sucks, since I had a small profit which turned into a medium loss which now is just close under b/e but with the commission to boot, making me into roughly -10 considering commission. It sucks because I let the loss get out of hand, instead of pulling out and reevaluate. The day isn't over, but I got a little jumpy after the quick drawdown, so I probably would end up overtrading if I'm not careful. Think I'll take some pause and see how the day progresses. Economic numbers tomorrow about the deficit probably won't be a big surprise to anybody, but a string of â¬-negative news is weighing in, as well as the popular focus on those "medium-term long entries playing the 1.2250 into 1.24-ish several times". Don't like the low position in the range close to the election - would much rather prefer mid 1.23's. Need to let go of some bias and perhaps just watch the markets a little, because it could get very choppy very quickly.
I did my own share of overtrading too. All these nice big moves shifted to the European session lately! I need a clean big move during the US session
I've missed you guys. as you know I've been working double shifts at the airport and have not had the time to do any sort of trading. On a good note my system has been performing well and I could have made $$$ if I were able to trade. Oh, well how have you guys been doing with this market? What's new? any good news? Its great to be back!
Agreed, the nice clean moves seem to coincide with the psychic hotline telethons and 6-minute abs infomercials
Welcome back, but sorry about the news -- they're all downbeat -- it's just a question which side is worse. The same old themes of running stops and no confirmation is dominant. During RTH lately it has been very constrained trading with mostly small moves, and the brunt of the moves taken during (mainly) european and (somewhat) in asian sessions. Trading is mostly good, although lack of catalysts makes some trade more, and others not trade at all it seems.
It's nice to take break from trading. Most importantly, you'll restart with a clear mind. Happy Trading!
Holy mackerel! is what I said ... My wishful thinking came through ... .. well, then there's the DOW's triple digit loss under 10k which sort of swept the feet away under the optimists, along with the fall in US bond yields. Heating oil is hot.