US Elections

Folks, I've seen some funny moves today on USD, and I'm no expert, but I think things are getting squirrely ahead of the US midterm elections tomorrow. I closed a couple of good trades today and I think I'll sit it out until the end of the week. Normal TA is being violated like crazy on anything that says USD in it. Anybody seen this before?

yes its just not acting right, just had a 100 pip move on gbp based on some comments from yellen and it was supposed to be yellow level news... something just aint right good time to be out... should have closed my position as well. oh well another lesson learned.

I got a strange feeling that were gonna have some crazy price action thats gonna test alot of traders convictions.

My thoughts as a somewhat seasoned money loser are to sit it out, but to watch charts tommorrow and learn something. It's a bad time to be in the market on anything USD, though. I'm checking the crosses for opportunities, however they will be affected by correlations as well...

This is where you just have to stick to your plan and forget all the market noise and everyone's opinion. Remember, the cool heads make the money and take it from aroused amateurs...

If you're still worried, then don't trade.

true that why im not gonna let it shake me out, im gonna stick to my game plan and conviction regardless of the noise...

I'm glad I was already out of my trades before I noticed this. Now I have the luxury of thinking about it without any $$ on the line. I don't think I'll open any new trades until later, though...

I hear u, i had a protective stop in place so i locked some profit...

Today daily chart TA was screwed up. It was clear to me that USDJPY long and USDCHF long but Fukui comments, Yellen, elections. That's crazy it was all reversed. but I am still cautious about any USD rebound following election results and new york open to take the steam of the opposite moves on daily candles.

Okay, here's a crazy thought, I'm contemplating a short on USD/CAD after the Frankfurt/London open tonight if it keeps up its current movement. I was just checking it out again, I've been watching it for 2 weeks, and it's ripe for a short. Holler at me if I'm wrong! Smack me upside the head! I just said I was going to sit it out but it fits my system so good!

Great advice! It's easy to tell someone not to worry, but if thoughts are in their head that something is just not right, chances are they will not stick to their trading plan, and they'll make mistakes that may cost them money.

Sitting out for one day shouldn't be such a big deal. There's plenty to watch on TV!

Many Happy Returns...




Fiona

I'm so scared of US politics! Maybe because I live here...

With that avatar and post, Fiona, maybe I shouldn't have said what I did in my previous post...

I wouldn't want to get booted for flirting (or maybe I might)

Mr Trend's comments above were right on the money for me last night!

My "rule" is, if I have a trailing order in, let "the system" do the trading. Don't close out too early.

Well, last night, I was long on the EURO and it started going stagnant around 1.2721. Was only 3 or 4 pips ahead and considered closing the trade. Reminded myself, STICK TO THE RULES! So, I let it go.

Imagine my surprise to see this morning, my trade moving UP! for a total of 51 pips! Did I close the trade? Well, yes I did. Rules are one thing. But a winning profit is another.

So, I'm now into "tomorrow" and one RULE of mine I ALWAYS stick to (well, maybe not always) is, when you've had a winning trade for the day, GET OUT! So, I'm out for the day and will watch and see how things go. Besides, have to go to work in a little while anyway.

Okay, as a former student of Political Science at James Madison College at Michigan State University, here is my take on the US elections, really.

My only disclaimer besides the fact that I'm a drunk who stays up late enough to watch the London open is that I am no Economist, I work on cars for a living.

The Democrats will win a majority in the House but not the Senate, but it will be enough to push the international financial markets up on USD because international sentiment favors a Democratic victory. It only took one sentence.

I can't wait until tomorrow night when I'm wrong and everyone says "I told you so"...

Also, I don't go to sleep at 6pm then wake up to see the London moves at 3am or something, I'm a true insomniac...

Which post were you referring to, duke? And why would flirting get you booted?

US politics doesn't scare me. It frustrates and confounds me. Don't we have any real leaders in this country? Our politicians all seem to fall right in line with the status quo... which is becoming more about "status" every day.

Fiona

Yeah it was a clear long sign, but those comments seemed to do exactly the opposite.

Is there anyone who can tell me when will we know the reasult of the elections?

I believe the results will be in this evening.