In realized profits I made a good killing today - scalping. Then I have a little more than half of what I already have realized in one longer EURUSD trade (although it was up to double that during the day), and another EURJPY trade which is basically flat now - but I'm in no hurry. I had one EURJPY scalp where I got out just before it went flat -- but I don't believe in letting scalps go negative - for any reason, but had 138 EURJPY been breached it would have been a killer too. I made a smaller EURJPY not so long ago, but am too tired to do more scalps today. It was hard to stay away though. Some days you are on a roll, and really "get" the market. The problem is when getting so involved that one starts exaggerating influences, discriminating resilience or dynamics where opposition to emerging trends might do quite a bit of damage. Then it's really all about the timing - and not letting stuff go negative - because in unpredictable markets, letting a trade go negative means you really have no idea how bad it will get. Well, I think that different strategies are advantageous for different market conditions - and today was perhaps especially true of that. Finding the leading currency pairs and understanding these - instead of locking oneself to crosses where the action is not that obvious. Keeping it simple and obvious - that is reducing risks in markets like today. Hmm, EURJPY gaining some momentum - so now that position there is looking better again - maybe up to 140 - which is my goal. It was in from 136.35 and went into a negative creep in after hours US close and before Asian open. Looks like a little EUR buying, and hopefully some JPY intervention after the abysmal indices yesterday.
sorry about the loss .... from my occasional glimpses of your posts you seem to do more med term trades. Surely in there markets you should change your strategy somewhat? At least till the volatility dies down. At the moment, I stay out of the market unless someone makes a significant comment otherwise these moves ignoring the news are pretty much random walk
I dont think its that bad. My problem is when there is chop and no movement. Like today. The volatility is a good thing and has been making me a fortune.
Hmmm, tonight, Oanda is showing much larger spreads that your screen shot...9 pips on the EURCHF, which is more like 1.5 or 2.0 in more stable conditions.
Sure, my screen shot was mid-day yesterday (Wednesday). These are Oanda's spreads at 8.20am Thursday UK time (UK time = EST+5), and CMC's fixed spreads as a comparison. ~