Discussion in 'Forex Trading' started by ForexPro, Jan 1, 2008.
Thought i'd start off the new thread.
Here's to a profitable 2008.
Didn't close the short (from 227.43) for the holiday closure.
This week should be a wild ride - low liquidity and lots of report volitility.
Good trading to all the New Year.
Lets kick this thread off. I had a lot of trades today, but with such volatility i didnt post any as they were quick scalps.
Short 217.29 tp 213.64 st 219.29.
Still short from 227.43. Currently +1032 pips. Been in a range (217.40 - 216.40) for almost 12 hours and one by one exit conditions are being met. Looks like a test of 217.40 as I type. I think I might preempt the ATS and take 1/3 - 1/2 off the table before London open inspite of the fact that it looks like it may break out further downward. I don't want to be a pig. We'll see. Looks like one of those nights where I turn up the speakers to hear the alerts from the ATS.
What else do you trade? Perhaps other threads are in order.
We could see U/J at 105 by midday Fri if we get a bad NFP. U/J 105= 210-208 G/J?
I expect to see any rally get smashed and for us to stay w/i this 100-125pip range until London session.
Although it is unlikely this question was directed at me, I will take the liberty to say that I trade currencies only (the all major yens, EU, cable, and USDCHF). I am highly leveraged at 500:1 but my spreads are ridiculous.
I was scalping more towards the end of 07 but it created way too much stress that I simply will not be able to handle anymore with the obligations I am about to face here shortly, not to mention my incredibly high spreads.
It looks like these 1000+ pip moves might not be too uncommon here over the first quarter.
What else do you trade?
I am quite omnivorous so i trade currencies mostly GU & GJ, equities and equity options. Equities and options for more long term positions. Currencies for shorter term speculation.
How many lots do you trade mrfrank. I just would have to take some profit even if i 1000 pips up.
Tp hit at 213.64. +365 pips. A great start to 2008.
Shorting again after a 300pip rebound. Tight stop this time.
216.52 short 217.2st 214.5tp
Yeah not bad. I am playing the usd/jpy pair...as it moves more depictly for me.
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