Yes it is using 40% of my account!! I know the rule I've read to many trading books, 1% or <. But the market has hit this level what, 10 times and sold out so I am confident. Anyway I'm a newbie and I think I'm trading the "markets money", stops in place if it rallies past 1.3. Current P/L on THIS trade $560.
I have one "complaint" about the current price level: I don't know how to scalp it. If we at least did a nice-effort run for 1.3000 it would be easier, but this lurking does not suit my scalping during the RTH. It looks like no scalps are here fo rthe taking - not even the lunch hour and european close did any good for my finding setups. It seems to be a little pegged to QM during US RTH as of late - today as well.
Yes, but that is only 14 pip profit with a 400k size. Think about what would happen if we go the other way. So your stop is at 3010? That means a 20/30 pip slip to your stop. About 1000 USD at risk on your 10k account. 10%.
Yes, I would not normally put on a postion this big, but I have confidence in it and a tight stop. If I may ask do you have a FX account, and if you ever had one any experences/lessions you can tell me about over trading in relation to your account size? Thanks.
Yes, I have a FX account since recently. I trade 1000 units for now (on 500 Euro). I think I need 10k before I would start with a 100k size.
Thanks. Is anyone else having a problem with the $ amount of these options, as mentioned in the attachment and Thompson, keeping the market in check? In the attachment they are talking about $225mn. I thought that many times this figure was traded on a daily basis in EUR/USD spot. I'm I missing something? Cheers, TRADERguy
I agree the very short term fluctuations are quite unpredictable. We don't have the usual nice pullbacks and pullups. Instead we have these short and sudden sharp reversals.