Grin - I never trade with less than 100 point stops - I actually wasn't short EUR - Ia was short cable from 8250 - don't even f-ing ask!. I covered all at 8360 in the Am at utimately a 100 pip profit -SCALING, SIZING MM - it's not the cards you are dealt it how you play them. Still stupid beyond belief. Anyway, USD bear trend in place no doubt Current Account weighing like a stone - but I think we get a relief rally if Kerry wins for 200 points or so. That's as far as I can see the fx market anyway http://biz.yahoo.com/fxcm/041026/1098785617_51248_1.html
Yes, I think that world affairs and any sight on improving it will do for a little USD relief. Still, everyone are talking 1.30s now as quite possible Real Soon Now. edit: Thomson got stopped out, but they don't support a short bias from here any time soon - still after 9 up days for the EURUSD. They say sell a 1.2685 break.
Just wanted to comment on the benefits of trading demo spot FX a little: I find that I always am looking for a trade, even in small timeframes for choppy doldrum consitions. I enjoy the thrill of trading etc. Therefore I make many "mental trades" for the enjoyment as well as the practicality of trying to stay focused and react quickly. When I also use demo-trades on spot FX I filter out many of those bad trades into something other than my more precious EuroFX trades. That way I try and preserve the EuroFX trading for entries I feel are the best I can do. This way the mental, demo trades help me take away the less discriminate trades. It at least saves me some stress by not having to risk commission costs nor real drawdowns for every trade I do. I think it's very healthy when feeling the addiction ... I am so used to computer, video games that I get a similar feedback from doing the "virtual trades". Just another â¬.02 .
It's a nice way to curb the addiction. For a while I used the simulation mode in Bracket Trader--that was satisfying too. Especially since you're scalping, it looks like you might have opportunities almost all the time.
I was fully aware of comments like this would be surfacing when mentioning my other trades, but it depends on who are reading the tread too. If you want I can take a discussion with on the matter, or were you just looking for some quick fun poking there ? Just check out some of my other "discussions" if you think I am a push-over. I won't take this poking-fun-at-me too serious, but you could have at least put in some duality in your reply there.
Grin: Thompson are momo chasers. They sell the lows buy the highs - that work when we trend. So the only question to ask when looking at their recommendations is range or trend. I KNEW they would get stopped out of their long - that why I said 2740 will get hit. This is a dealers market - if you don't understand that you will never be consistently profitable. (PS I mean "you " as in generic you - not you personally
Market makers are squeezing those small traders into the RTH margin requirement close 14:45 EST with both spot FXs and EuroFX at stable,strong bid on 1.2755. These kinds of information is only good for very short term trades, or perhaps when joined with other hints it can substantiate a beginning larger move (still, limited to very short term). Just talking about scalping information here, and how to analyse the book. I think it implied an artificial cap to squeeze nickles and dimes. Watching what kind of trades are made under such conditions gives valuable clues to short term ranges and movements. edit: just read how Thomson sees a groing consensus as well for stronger USD bias on a decisive outcome for election. They mention possible terroris attack as something markets have priced in. I beg to differ. A terrorist attack will definitely make some very big waves.