Hi Basketers
After last two days of up & down movement (frustratingly slow) with +850 points today's movement so far very interesting. The USD is strong with positive data. JPY is initially became strong but subsequently became week. My buy orders were quickly gone into -200 points. The market tested my patience to extreme. I was prepared to take the -560 stop loss. But it was oscillating between -100 to -400. I have not responded to the sell signal in between as I decided to wait. Disabled the EA. Something made the JPY week (later it was found that IMF supported BOJ on Japan's initiative). The basket came back to +100. I held on with the orders for some time before closing on break even. It has been a very good experience with the basket today.
Observations :
1. The USD pairs pulling the basket down and the JPY pairs pushing the Basket up. For about 60 minutes the basket was found oscillating between +50 and +200 in quick succession. First time I have seen the Basket behaving like this.
2. No one can predict in which way the Basket will move. Thanks to kos, we have the trade plan with HAS. So personal bias has no role to play in trading the basket.
3. Be prepared to accept the worst possible scenario of -560 points. Trade the market as it goes up or down. I had the temptation to close the buys for -350 and enter sell because of the HAS sell signal. Instead I decided to hold on to face -560. This saved me from double loss on both the sides.
Great trading events next week. Be prepared to see lot of fire works.
Wish you all good luck.
Fx...$
After last two days of up & down movement (frustratingly slow) with +850 points today's movement so far very interesting. The USD is strong with positive data. JPY is initially became strong but subsequently became week. My buy orders were quickly gone into -200 points. The market tested my patience to extreme. I was prepared to take the -560 stop loss. But it was oscillating between -100 to -400. I have not responded to the sell signal in between as I decided to wait. Disabled the EA. Something made the JPY week (later it was found that IMF supported BOJ on Japan's initiative). The basket came back to +100. I held on with the orders for some time before closing on break even. It has been a very good experience with the basket today.
Observations :
1. The USD pairs pulling the basket down and the JPY pairs pushing the Basket up. For about 60 minutes the basket was found oscillating between +50 and +200 in quick succession. First time I have seen the Basket behaving like this.
2. No one can predict in which way the Basket will move. Thanks to kos, we have the trade plan with HAS. So personal bias has no role to play in trading the basket.
3. Be prepared to accept the worst possible scenario of -560 points. Trade the market as it goes up or down. I had the temptation to close the buys for -350 and enter sell because of the HAS sell signal. Instead I decided to hold on to face -560. This saved me from double loss on both the sides.
Great trading events next week. Be prepared to see lot of fire works.
Wish you all good luck.
Fx...$