honestly speaking, it is not wise to flatten a position as it might become a bad habit. talk about eurusd trade on 1 Nov which I flattened. eurusd has been in very small range over the past one week. so probably of eurusd going down on 1 Nov was slim unless there was some major news/events/trigger. yesterday the ADP Non-Farm Employment Change news didn't really moved the market. When the news was released, gold, jpy, eurusd gbpusd ... volume traded was meagre indicating dis interest. Further the whole world appeared to be preoccupied with index futures (NQ, Russell, hangseng, dax, ES ....)
2 Oct India / European session ha. forget about my audusd which I longed right after aud news. longed audusd @831am don't know whether it was up due to aud news, or US dollar weakness. anyway it doesn't matter. now let the europeans push the price even higher. India Nifty. yesterday long blue candle. It appears it wants to sleep. Hangseng. yesterday long blue candle. its movement this morning has been limited. time for nap.
Thanks for your pointer! I find weighing how to exit early tricky. there's always some micro lines that can form against the original position. looks like the 'signal' line made by the week open is very strong. was so preoccupied trying to short euro that I missed dow. perfect swing structure & multiple 'signal' lines. must do more brain exercises to multi-task "yesterday the ADP Non-Farm Employment Change news didn't really moved the market"- this right here is what I'm weighing in entries too. timing entries with news. the optimal short for this pattern was right at ecb i/r decision last week, forming a confirmed 3rd 'line'. That said, I find it impressive that you trade hard/soft commods where there is not alot of public info. even a finding a news calendar is zzz
2 nov European session shorted India Nifty 300pm with reduced quantity. sigh ... missed the 2.27pm signal. look at soyabean chart. all the soyabean traders disappeared.
cont ... India Nifty profit : -ve. because missed one signal shorted crude oil @404pm flattened with small loss. crude oil might be laggard. lead might be Heating oil and/or RB Gasoline. I never like to trade HO and RB gasoline.
2 Nov US session longed NG @745pm profit: flattened with few ticks. Just realised trend started much earlier. gbpusd went down with 89 degree gradient and never gave us opportunity to short. guess time for gbpusd to sleep. goodnight gbpusd.
3 Nov Asian session Day trading is the only profession where you can choose when you want to trade for ~ 3 hours a day only. You can trade - early part of Asian session or - middle part of Asian session or - early part of European session or - middle part of European session or - end part of European session / early part of US session For workaholic day traders, they can trade 25 hours a day from sunrise to sunset, from moonrise to moonset. They can even trade after retirement for as long as they want. And they can trade index futures, interest rate futures, commodity futures, energy futures, index options, interest rate options, commodity options, energy options, asian stocks, european stocks, US stocks, market on open, vertical spread, calender spread, intermarket spread, intramarket spread, credit spread, debit spread,arbitrage to keep themselves totally occupied. You can see the day trading caters to very wide range of people.
cont ... shorted sgx simsci @902am adjusted my stop level already. simsci can take its time to go down very very slowly. Don't think there will be any more signal. now time for morning exercise then nice lunch. signal missed : short taiwan index @ 911m but this signal is not obvious. this signal will give you reward risk ratio 4:1 seems like all USD based not moving.
3 nov european session yesterday some markets swing up swing down swing up swing down eg gold, NQ, copper. today many markets are sleeping. perhaps big boys waiting for NFEC news. Anyway must be alert because at times, big boys decide to make decisive move way before NFEC announcement.
cont ... shorted gold @ 300pm profit : 0 not worth taking risk. shorted gbpusd @ 325pm profit : -ve. OK luckily it is with reduced quantity.