Well I just took a "side-trade" around 26 .. gonna let that one ride for a few hours and see where it gets me!
in my opinion buying resistance and selling support is very difficult. I have a breakout type strategy, and I wait for the close of a bar at these certain points I look at. What would be even better is to wait for penetration and a retracement. But that's the way I perceive things...
Good luck! These are the worst hours to trade. Usually very thin, slow and range-bound markets. It depletes the precious psychological resources!
I've been at home for straight 48 hours. I'm about to explode. Tonight, I'll go to the gym and relax& swim. I might put in a trade after 2am EST depending on the action.
me too... well monday I dropped off my ballot. That was it. I'm getting out of shape and I have less stamina as far as working... well it's my fault
I see now that FXCM is roughly 8-10 pips over Refco right now. IT seems both of them had problems with login to Trading Station.
I called them and they said it was scheduled maintenance. Once their site was up I chatted with a rep, and said the same thing. ... I just logged in.... yay!! Time to drink a few beers. I'll probably take a nap before I work again tonight. cheers everyone
Longer term position looking good right now, with about +80 ticks - that's roughly a little more than a good week's typical profits with the size being used. It has been up +90 ticks, so I guess it's time to start locking in some profits here, and let perhaps half of it run with a trailing stop. edit: will have to see what level I will use - will follow it like a scalp a little.
FX-Concepts sees the ⬠into 1.2940 by the next week. They're long since 1.2310 ... They are very negative to the Bush win, and see continued spending on military actions and perhaps retaliatory actions by terrorists including sending the US on wild goose chases. Longer term target is around 1.3100 into a stronger trending finish for the year. Deutsche Bank sees target of around 1.3040, and watching the EURJPY forecast is almost scary with the Cognitrend forecast running into 145 at end of year. They also note relucatance of short-term and mid-term players to bet the trend higher. Thomson are long at 1.2849 with target 1.3140 and stop 1.2765. They note stops below 1.2775 and an exotic barrier at 1.2900 expiring today 15:00 NYC time as peak trigger of a large double no touch option with base lower than 1.2200. Another 1.2900 plain-vanilla option a long with 1.2800, 1.2770 and 1.2760 strikes.
Well, watching position like a scalp wasn't much of a help. I'm out with an average of +91 ticks on the position. I guess it's sane enough too take profits here. Will rather go into full scalping mode again.