My Euro Trade

I'm going to keep this chart updated with explanations as it progresses. Let's see how things turn out

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=2144725">

 

I marketed in before the close Friday. Also long. Not too many lots. Looking to build a position.

 

1.3 has been acting as support and resistance in the past so I'm adding this as a potential area to take proft if we get to... maybe a short scalp at that level with a tight stop to make up for potential missed long pts by re-initiating long above 1.3.

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=2144846>

 

Hi,

I holding 1.3 Dec Call on 6E futures contract from several days ago. Should I sell it, before it has some time value?
How possible USD rate cut will affect EUR/USD ?

http://biz.yahoo.com/ap/081026/fed_interest_rates.html

Thanks,
HLB

 

Today I sold my 6E 1.3 Dec Call @ 0.0508 (bought @ 0.0358).
What interesting is, that I bought it a week ago, when 6E was @ 1.3033 and now it's @ 1.2855 and 1.3 Dec Call @
0.03790 x 0.03860 - still highier than my purchase price @ 1.3033! IV rose so much.
It was scary to hold this call, when euro was in free falll to 1.23 !

HLB