I want to thank fti for this very nice thread. I have enjoyed reading it and it has helped my trading immensley. Don't trade during news events, instead wait for the dead to fall and then pick on the carrion.
This morning after the craziness I put on an EU Scout short at 1.2183. That turned out to be a 15 min reversal that was heading back to re-test the previous days low. Not a good place for a sell, but I had more arrows that I could use. I waited a bit and put in a EU Medic short at 1.2208, to help out Scout. I waited a bit more and when price retraced to the 1.2200 big round number I put in an EU Attack2 short.
S1 Sell EU 1.2183
M1 Sell EU 1.2208, new basis 1.2195
A2 Sell EU 1.2201, new basis 1.2198
Anything under 1.2198 is now profitable.
Thanks for the great teachings fti.
Eric.
This morning after the craziness I put on an EU Scout short at 1.2183. That turned out to be a 15 min reversal that was heading back to re-test the previous days low. Not a good place for a sell, but I had more arrows that I could use. I waited a bit and put in a EU Medic short at 1.2208, to help out Scout. I waited a bit more and when price retraced to the 1.2200 big round number I put in an EU Attack2 short.
S1 Sell EU 1.2183
M1 Sell EU 1.2208, new basis 1.2195
A2 Sell EU 1.2201, new basis 1.2198
Anything under 1.2198 is now profitable.
Thanks for the great teachings fti.
Eric.
" Be always employed in something useful." - Benjamin Franklin