Chinook, unfortunately I did contribute to that volatility down near the lows. I had to protect a portion of my position. I also sold some higher but more than I should have near the lows. ES, no big buyer/seller news today. Seemed was pretty quite overall. I had to get back into my position some at 1.2255 and some on the close. I took the Dec. up from 1.2248 to around 1.2252.
Neal, any feel for change of sentiment? I frankly have no feel at all and am staying outof what I consider to be middle of range or better known as " no man's land" Seen too many WWI movies These are my thoughts so far. http://biz.yahoo.com/fxcm/040913/1095076462_11818_1.html
I did so a few times pre-NFP numbers, but not normally. It was big moves, but too risky for my taste - although they were successful. I prefer trading several timezones - asian session is many times my preferred period.
I still feel that the trend is toward a weaker dollar. This has never been a EUR story for me, rather, it is a dollar weakness story. The overall trend (look at US $ index, USD/GBP, USD/JPY, USD/CHF, USD/EUR) is ruling the day for me however, a look at the fundamentals (softening US Economy, decreased likelihood of aggressive Fed rate hikes, widening deficit, etc.). I agree we are in the middle of the recent range (since Jan. '04), but obviously, I am playing for an upside breakout with follow-through. Best, Neal.
I know what you mean. The short term direction is easier to predict during that time. But you have to fight for the spread. Chinook
Thanks again. Meeting with the CME was this afternoon and they are quite competitive. Brokerage 44cents per contract seems reasonable but don't know what others pay.
Neal, Are the futures that are "created" really created? In other words are they executed on Globex/in the pit and do they count in volume and open interest stats? Thanks
When reading some of the reports like this one below..... "Good buyers are seen on dips to 1.2205/10. Stops lurk below 1.2200. Offers in EUR/USD are seen at 1.2255 and 1.2285." how is it known where traders are placing their orders, can anyone determine this from looking at the charts? just curious.