I guess we'll see some clawing and ripping apart of smaller traders too have a "planned" mid 1.29s close. That should make us ready for 1.3000 testing next week. I will be giggling reading how some won't get how ⬠rose so much on that NFP number. It's all market mechanics. edit: new spot demo short in mid 40s. target around mid 20s or 30. Those demo trades go at around 80% of full account .. that's heavy leverage.
I would think you could do best with fixed targets now, because it sounds like you're scalping, and I don't think trailing suits scalping very well. I.e if you "need" 10 ticks - then set that as target - be happy if you get it - and do grab the best you can if you think it's slipping back.
I'm not trailing as usual. I realized that shorting is not the preferred direction so I'm grabbing 5-6 ticks now Edit: I just took my 5 pips. I thought about holding my long around 1.28 but then I decided to trade in and out. On the bright side I could have been short from that level too and holding on
That's the right scalping attitude. edit: I just can't believe Thomson .. they mix in rumours of nuclear accident in Russia ! They admit it can't be taken seriously though, but even mentioning it .. the nerve. edit2: I have a 1.2930-ish target for that demo trade - it will have to go slightly under to get the spread on that - but I have all the time in the world for these demo trades. I'm trying to learn that for my real EuroFX trades too. edit3: A reflection on the "big bad boys" - they mention that they go for the non-obvious directions, targets for the big payouts - so that gives some insight. When they see an opportunity they're not afraid to grab it either. Today is not exactly lacking either opportunities or reasons to grab them. edit4: nuclear accident rumours was turbine shutdown with no radiation - reported by South African Mail and the Guardian no less. It's easily abused by others though.
I think we'll see some chops now - or we SHOULD see some chop now. That means we're probably at top of range above 40s. edit: since there will probably only be bias to short ⬠because mostly US players towards the end of friday now.
I think I'll just watch some TV, because it's getting boring to trade. Things have been too easy this week, I'll try applying more of what I think - and output less here. It takes some crucial moments typing here - and if I'm still continuing this roll - I'm not intent on letting it stop now. Better get everything it's worth out of it now.
You had a nice week. You deserved to relax and celebrate--Time to open couple of magnums of Champagne to chill out there
I'm up to net +26 ticks including commissions--commissions took another 20 ticks! Disaster! It was a relatively easy day earlier with clear directional moves but managed to get chopped again. I completely forgot about my system today! One thing I did good today is that I didn't go crazy with the leverage.
That's some good trading too, chinook. Too bad about getting chopped - but that's the discipline which get's stretched on days like this. Don't worry about not following the plan too much today - I don't see to many indications on traders following some plans today - they couldn't possibly have with the action we saw. Seems we're heading to the consensus area of around 1.2915 - low 20s towards the close. Then we'll crawl back into the cave into the close with ghostly trading for those who still want some slow-bleeding pain.
Have you stopped trading for today? I managed to squeeze in two long trades. I'd better stop. I'll take a 20-30 minute break and re-evaluate the situation. Looks like misery might set in from here as you suggested... I should entertain myself with some "picture" browsing now