I'm not used to use hard stops, it's not part of my normal trading. I think that it should have been there though, and I should have been stopped out, while maybe getting back in if I was a perfect position trader. However, I still use my "fear" to be careful and not trying to overdo things - so I probably wouldn't have gotten back in after being stopped out. There are several things I need to "fix" before moving on to position trading. edit: funny how Thomson now talks about "taking the talk with a grain of salt" with regards to the ECB statements ..... edit2: Also see how the â¬$ is free of the oil-futures now. There is a time and place for everything. edit3: I also remember how Thomson went short on EURUSD, but a few hours later - when asian markets opened and it rose to 1.2720+ - they said conditions still seemed bullish. They still seem to have this view (repeated just now) ... perhaps a sign of how the different contributors probably feel their political views taint their comments from time to time - perhaps especially now. edit4: They now report interests of pre-Christmas 1.3200 calls with "reverse knockout" above 1.35 .. and exotic barriers at 1.30 , 1.3125, 1.3200, 1.3300, 1.3400 and 1.3500 ... Pre-1.3000 barriers reports to be tipped at 1.2850. Oh, well - it will be a crimson end to these last months of the year it seems. edit5: Just tried a EuroFX chart at IB, and it seems that backfilling the chart is not working correctly. Probably has to do with the reported data-dissemination problems at IB. Have to keep this in mind - IB could show problems too - while trading.
Still seems like choppy trading for now. I guess there will be some further statements from both US and EU pundits, so big moves could be related to this - OR - the crude oil futures could get back into focus again. I'm a little less inclined to trade for now. We still have the time-events with US lunch hours and european close .. which always makes some move.
Regarding the crude oil, yes it's kind of interesting how the correlation changes with EURUSD. I wonder if sometimes these moves are caused by same people selling the EURUSD and crude at the same time... I'm short for now.
Yes, it probably has some effect, but I think "popular talk" and perceptions are also affecting it sometimes. In the lack of other catalysts like numbers, events etc. the EURUSD sometimes takes hold of some other important moves, perceptions in e.g crude oil. I'm long 1.2735 on my spot FX demo - which suffered a drawdown from 190k to 150k with some bull stubborness ... and I don't use stops there either .. so letting things liquidate and not use hard stops for what should be a better position trading learner for me ... ah, I'm a lost case for position trading still.
Yes, and I have bad experience with trailing too ... I guess I'm better at discretionary stops. edit: It seems TWS is very sluggish now. I will stop trading, watching for a little now - and see if it improves. Hope they get it in order for tomorrow which will be fast-paced IMO.
The problem is if there's a sudden adverse movement, it becomes difficult to close the position with a larger than expected loss. Especially if you are away from the screen. IB is OK here today but was quite "choppy" yesterday!
It seemed all that was needed was a restart of TWS, it's fine again now. Also tested the chart backfill - which also is working after the restart. That's why all support staff always asks - "have you tried restarting?" as their first question. It solves many vague problems many times. Will be wary of new sluggishness, though. edit: Holy harley-chopper, it's porky chops all over the road. edit2: Well they're pushing for a break upwards ... got get them, tiger...
Update: nope, TWS is useless right now. It gets sluggish real quickly again after restarting. Got chopped 2 times because their quoting was completely messed up. The quotes into my apps were giving weird signals - need to make some "warning flag" for situations like this. That's it for today then.
My "trend-candidate" short got stopped out. Then I did a quick short and a long You're right about the chopfest!