DislikedI am currently long until the 121 fib level.
See chart below.
I see that we had a bouce at the 61.8% level and I expect price to go up so I'm going to attempt to t/p at 3647.
Entry at 3604.
Stop loss at 3570.
Will see what happens.
When and if i end up being 20pips profit I will probably take half of my position size off the table and move my stop to entry.Ignored
I think you should listen to Arthur regarding China, as he has run a business over there. He is better informed on the country than you or I.
China are many years away from being a self-sufficient economy and they cannot magic domestic demand out of thin air. This will take time, a lot of government spending on improved social and physical infrastructure. China's consumption share of GDP is only 37%, which is the smallest in the developed world, roughly half the level of the US. Obviously, Chinese consumers need to spend more and US...Ignored
edit: to summerise my day:
Trade 1: Went short when I should not have--not patient enough
Trade 2: Went long when I should not have--not sure what the heck I did wrong here. I waited for pull back and got screwed.
Day = Crap Trading Day for me. I'm out until tomorrow.
I am down 2.54% for the day.Ignored
yes.. I don't know about China so much... I'm only expressing one opinion... I'm making a future conjecture... for very long term...
But the important facts that can affect my trading is.. FED buying treasuries.... to me means that China doesn't want to buy more... or any other country... Hillary Clinton went to speak with China to ask them to buy more... helping US to recover and so.. they US citizens start to consume again and then China could export to them... And China said No thanks.
I admit I'm not an expert in China but it is interesting...Ignored
DislikedSounds like my luck last night... went up 50 pips then down 100...Ignored
Dislikedohh yeah, yesterday was a tough one. I made my pips before the treasury sec spoke so I was ok....but geez...if I was trading when he was talking, I would have been out of luck also I think. (although I would have had a stop loss but still)
Tough gig, but got to respect the money management. losing 2.54% isn't too bad. I can make some of that back tomorrow maybe and if necessary next week. (I hope)Ignored