haha it is in cable actually. Caught it at the start of the move down.
My personal opinion and advice regarding trying to explain moves…who cares. You should not be ‘tied’ to any view on the market and thus, should not care what the reason is for a move. By the time there is a publicly known reason, the market has moved. I don’t care if the market is up or down. I trade my set ups when it says I am in the greater possibility of being correct. Sometimes I won’t be but the only thing you can do, is trade according to probability.
What is this cable you speak of xD lol! Seriously, I have no clue what u on about.
Well, I know what you are saying, but at the same time, predicting such a big move would certainly boost your account! You cant say that when it is public, the move has already been made? Granted, some will know sooner than others, but this move took many minutes, you could still have made a profit, even if you didnt catch it right away. I guess I should have paid attention, but I was doing math hw, lol. Here it`s 3 AM
Well like I said, it’s personal opinion about reasoning for moves. You say you could have still made profit, absolutely. But you could say that about entering any trade now in hind sight knowing that the move has taken place and the amount of the move. The key is when you enter. If you know the reason for a move, how can you say how big an effect it will have? If you shorted cable at 1.57604 (the current low of the day), you would currently be just under 40 pips down on that trade.
As a follow on did you see the flip of cable back to the upside? Surely evidence that you can’t put a reason to the move down and up. Those who were searching for one, missed the move.
Markets are all in a tizzy about QE2. I’d wager there’s probably relatively illiquid conditions which might exacerbate choppiness given that the biggest players almost certainly have already gotten the nudge, nudge, wink, wink from the Fed about what’s coming.
Hi!
I use FXCM TradeStation. I tried many manual methods of liquidizing my position(s). However, the number of trades kept adding up. For every trade I tried to close, one trade got opened in the opposite directions. This persisted until all capital was tied down. Then I received a margin call, after some time of frustration and panic (lol), and only the original trade persisted. I logged off and on the platform, and now I could successfully liquid…
I did that too. You can do it that way, right click the trade in the “Summary” section, OR at the chart by right clicking there too. It all prompted the dialog box where you choose amount. I did the right thing, but instead of for example selling the lot of 400 K, it opened a short position, lol…
Currently in 3 open trades. One of them has hit TP 1. The state that these trades are in, looks like I may be in for a late one again. Ah well, at least the apprentice is on tonight
Last night was a really late one and I was nackered this morning…but I still traded, I’ve just been sleeping for little power naps and now I’m all good.
Yesterday I finished just above break evan. Whilst obviously I would like large profits everyday, obviously this isn’t possible and due to the choppy nature for a large part of yesterday, I think anything positive isn’t bad.
Today, I’m currently in one open trade that has hit TP 1.
Do you really need to babysit the trades late into the night like that? I’d be worried about the cumulative effect of not getting enough sleep over time and what effect it might have on trading during normal hours. I might be tempted occasionally with a losing trade but with winning trades I carry overnight I set my stop to breakeven, maybe put in a limit order and hit the hay.
Definately get what you are saying and it’s definately crossed my mind. Problem is, the way I am trading is very much dynamic, in that an exit needs to be actioned anytime the market invalidates my orginal reasoning for taking the trade. It also means TP and stop losses can move relatively often depending on the market action.
I worry that if I start to move SL and TP levels when really I shouldn’t be (i.e. according to price action I shouldn’t be and the only reasoning for doing it would be to get an earlier night), then essentially I am not trading my method correctly. Depending on the timing of a trade, I would basically be having 2 sets of rules, ones for during the normal day and ones which happen to still be open overnight.
Time will tell but I’m hoping weekends will be enough to fully re energise and then, the fact that Fridays are pretty much half days should give a long weekend.
