Undoubtedly, the markets are going to be EXTREMELY volatile this weekend ahead of Greek elections, and will only get more volatile pending the outcome.
My question is: Are there any braves souls out there that are going to try to trade the market this weekend like I am?
It’s set up to bankrupt the public in the forex market, just like usual. California bubbly and popcorn for me as I watch the madness, while happily sitting out.
Trading like this is hobby trading, looking for a rush and a quick return, rather than pro trading, which is looking to make consistent high returns over the long haul.
So no, I won’t be trading it. I’ll be watching events unfold and enjoying that but not putting my money into the middle of a whirlwind, as that is a mug’s game.
As a scalper I benefit from short term volatility. My consistent returns come in many small thought out trades rather than longer term trades. You really can’t assume that everyone trading the open on sunday are non professionals. Sure, there will be some that fit that description but many professionals will be trading during the open to price in the results of the elections just like any other economic data.
I’m going to trade tomorrow with everything I got because the market only exists tomorrow and there will never be an opportunity to profit after that! Wish me luck, as an Ultra-scalper, I have the upper-hand in this volatility!
My full capital in short eurjpy, trailing stop 40 pips. When market reverse I will long it, with trailing stop 20 pips.
If my short eurjpy is against the trend, I will close it manually once market open and follow trend with trailing stop 40 pips. When market reverse short with TS 20 pips.
Yea, that is a huge factor. I’ll only trade if u have signals, and the spread is reasonable. Normally by the time Australia and New Zealand are open spreads are good. We’ll see how they are this weekend.
I opened two trades on EURUSD two minutes before the market closed, one short and one long each with 40 pips SL, no TP placed. Let’s see how big the gap will be.
@luiz, for this event I am betting on greek peope and forex market psychology rather than charts. So yea, no support from charts. Of course, there is a high chance I am wrong, please do not follow
I will make a prediction though – just like what you see in NFP, bearish outcome will occur, E/U will rocket upwards “for no reason” with super high spreads to freak out the bears and gain more liquidity, then crash downward. There’s only one outcome that’s good for the Euro, and it’s an improbable one, so look for something like this to occur.