what’s VIX?
I picked up on this too team
[I]“The VIX is calculated and disseminated in real-time by the Chicago Board Options Exchange. It is a weighted blend of prices for a range of options on the S&P 500 index. The formula uses a kernel-smoothed estimator that takes as inputs the current market prices for all out-of-the-money calls and puts for the front month and second month expirations. The goal is to estimate the implied volatility of the S&P 500 index over the next 30 days”[/I]
This is from Wikipedia. I hope it’s correct !!
good morning everyone! crazy london session…GJ at lows. i took a long scalp quick and painless for a +20
DECEMBER 4th’S GRAND TOTAL: +20 PIPS
8 DAY GRAND TOTAL: +1,290 PIPS
P1PTRAD3R
Yes that is correct. VIX is a volatility index, useful to FX traders when the VIX is at extremes to be more cautious when entering the market.
P1PTRAD3R
took a short trade in the GJ for a quick +5 pips, didn’t fall as fast as i thought.
DECEMBER 4th’S GRAND TOTAL: +25 PIPS
8 DAY GRAND TOTAL: +1,295 PIPS
P1PTRAD3R
took a short in the EU right near the roundie for a quick +10.
DECEMBER 4th’S GRAND TOTAL: +35 PIPS
8 DAY GRAND TOTAL: +1,305 PIPS
P1PTRAD3R
Took a short trade in the GJ for a +15 at S1…looking for quick scalps today on my short trades (smaller take profits).
DECEMBER 4TH’S GRAND TOTAL: +50 PIPS
8 DAY GRAND TOTAL: +1,320 PIPS
P1PTRAD3R
took a long trade in the EU for a +10 pips, looks like it will keep testing 1.2700 today.
DECEMBER 4TH’S GRAND TOTAL: +60 PIPS
8 DAY GRAND TOTAL: +1,330 PIPS
P1PTRAD3R
took another 2 trades, both long, in the GJ for a +7 +20. took a +7 just to be out of that trade, wasn’t working out well, just take even small profits so then you have more oppurtunities to get back in the market at a better price.
DECEMBER 4TH’S GRAND TOTAL: +87 PIPS
8 DAY GRAND TOTAL: +1,357 PIPS
P1PTRAD3R
took another short scalp in the GJ, for a +10. S2 is strong resistance now, but be cautiuos of a break out higher.
DECEMBER 4TH’S GRAND TOTAL: +97 PIPS
8 DAY GRAND TOTAL: +1,367 PIPS
P1PTRAD3R
took a long trade in the GJ after the spike down for a quick +20.
DECEMBER 4TH’S GRAND TOTAL: +117 PIPS
8 DAY GRAND TOTAL: +1,387 PIPS
P1PTRAD3R
lunch time, italian or chinese? funny how as traders we can make a split second decision while trading, but we will think about what to get for lunch for 20 minutes.
P1PTRAD3R
Been reading through your posts. Also, I responded to your message so let me know.
Thanks and keep up the great pips collection!
took 4 more trades in the GJ, all shorts, still underwater on one position(check chart)…the other 3 took a +20 +20 +16
DECEMBER 4TH’S GRAND TOTAL: +173 PIPS
8 DAY GRAND TOTAL: +1,443 PIPS
P1PTRAD3R
THANKS 4XTRDR, i’ll double check my email a little later!!
P1PTRAD3R
ended day with a break even trade(from the underwater trade)…all out.
DECEMBER 4TH’S GRAND TOTAL: +173 PIPS
8 DAY GRAND TOTAL: +1,443 PIPS
P1PTRAD3R
i took one last trade for the day for a +24, GJ got near S3…usually a high prob trade.
DECEMBER 4TH’S GRAND TOTAL: +197 PIPS
8 DAY GRAND TOTAL: +1,467 PIPS
P1PTRAD3R
finished the day with very good results. GJ at these levels, you must be very cautious for a break lower. There very well could be another leg down for the GJ before a solid retracement on the daily chart.
if anyone has any questions on my trading style, feel free to ask.
[B]P1PTRAD3R[/B]
Do you plot your Support and Resistance levels on the Daily chart and use those same levels on the 1 minute chart?
doggie01,
yes i actually have a sheet in front of me at all time with important S/R levels from daily and weekly charts. I plot minor S/R levels as i trade. With major and minor S/R levels with daily, weekly and monthly pivots help with my trading decisions.
P1PTRAD3R