Sweet, maybe I can do this Forex for a longer timeframe and as a way to diversify my trading.... Sadly, my Forex demo ran out, I wasn't running StrategyBuilderFX, so my demo ended, I signed up for StrategyBuilderFX, so I'll have unlimited demo to mess around with. Looks like support could possibly break in the future afterall, we will see. Attached another image.
Well, there's a sign, down 50 pips into market close. What do you guys think, is this the start of a new trend? BTW, I am a noob. Shorted EUR this afternoon before the decline so while I'm happy about the 50 PIPS (is that a normal/decent profit? - whats a usual range?) I don't understand why the dollar would get stronger with the market dropping? Thanks! pkts
Ouuch! I was loaded up long. [21:18 EUR/USD: Reverses Session Gains in a Blink] San Francisco, May 23. Just quietly, there are not a lot of happy traders in late NY after the sharp bounce back in the dollar in the last hour of trading. News that bird flu was being transferred human-to-human was cited as one factor, other dealers hypothesize that large orders from funds went through in a very illiquid market. This week"s volatility has seen much more of the pass-the-parcel influence on trading. EUR/USD, which was at 1.2870 and just shy of 1.2878 session highs near 04:00 this afternoon, triggered stops on the break under 1.2850 and at 1.2830 to trade to current levels of 1.2815 where buying orders are place. Both HK and Middle East names were seen buying near these levels earlier in the NY session. Some traders are blaming the USD recovery on a late reaction to Bernanke"s comments earlier in the day though many saw those as a reiteration of the last policy statement. Buying interest remains on EUR at 1.2805/10 and 1.2780. Working against the EUR are expectations that tonight"s IFO release will be soft following the weak Belgian and French business sentiment released earlier today.
Hehe...I saw that. Shorted the Aussie and Kiwi and rode those puppies down a full 60 some odd points each.
Wow. More carnage. Wiped out a whole week of profits for me. I am going to go cry for a while. I have a key buy level at 2750 and now I do not know what to do??????? I do have some call options on the VIX. Maybe they will help tommorrow. Sigh