The currency pair is clearly affecting the Nikkei since it is about 400 points lower than it should be in relation to the Dow, but the US markets seem to be ignoring it right now. I would think we would not have ES working its way over 900 with the pair breaking to new lows, but this market seems to just be reacting violently to any government intervention news so it is a hard call either way.
Outside of the trading account I remain in cash and cash equivalents. I am short the Euro fx, gold and the British Pound inside the trading account.
I'll leave you as the final arbiter. Want to learn more about these and other mundane everyday stuff? Head on over to Unholy Grail to Success.
Hi I've been luking on this thread for awhile. In the last month I just went out on my own trading after working for a couple different investment banks as a trader. Anyways...couple of questions for you guys....Do any of you use Demark? I use it on 5 and 15 minute charts. I don't think it's very accurate on anything less than that. Second, although I have been trading for a long time, the psychology definately changes when it's all your own money. Am I the only one that has encountered this struggle? Lastly, most of you trade ES exclusively or do you look at other products as well? Thanks for any input you can give. -Mark
I am not familiar with Demark. It's easier to be super greedy and fearless with someone else's money. I find I cut trades short much more often on my own account. I used to trade stocks & ES at the same time. I find it to be too distracting to manage multiple positions. I've switched to ES only. Good trading! Stone
Don't forget central bank intervention ... I do think new low before new year is not out of the question if all these intraday 30 pts rally only result in moving around at the lowest part of the range in the year.