Hi all, back from hols after the Open, back to working again. Reading through I see the thread has had its ups and downs for Dad!
Cool Runnings intraday swing trading
Hello PakT,
I really hate to say anything to scare you into closing a trade out, because I usually stay in a trade no longer than a day.... I actually probably average about 3 hours. Long term predictions are not my strong point.
I just hope that you have sat down and come up with a trade plan. Especially when it comes to setting a stop loss on your trades. ADP non Farm Payroll is out in 15 minutes, and it could make your losses that much worse, and going into US Non Farm Payroll on Friday, it could get even more tradgic. I'm not predicting...
- #1,834
- Aug 5, 2009 10:36am Aug 5, 2009 10:36am
Pak T,
I just wanted to add, that my style of trading is to react to what the market is doing, not predict what the market is going to do.
At this point, your situation and trades, are mostly dependant on what the data on the news releases do. Sorry I don't have a clear answer for you. My thinking is that you need to focus on just a couple trades at a time. Try and focus on just a few pairs, and then only trade one or two trades, at once, that you are really confident in.
Fxdad!!
Thanks alot for your advice. Appreciate it!!
Well im into the process of developing my trading strategy and everyday i'm learning new things. I think i'm beginning to transform into an intra day trader who goes with the market reaction (like you mentioned about yourself) makes the required pips and then take an exit. Thats what i'm looking at and will be working on methods to work this strategy out.
REgd the positions i was in, well almost half of the trades are closed in profit (yes the data did help
) but im holding my position with a few for tomorrow.Will catch u later...Its nice to read your intraday analysis on different pairs. Keep it up!!!
Fxdad!!
Thanks alot for your advice. Appreciate it!!
Well im into the process of developing my trading strategy and everyday i'm learning new things. I think i'm beginning to transform into an intra day trader who goes with the market reaction (like you mentioned about yourself) makes the required pips and then take an exit. Thats what i'm looking at and will be working on methods to work this strategy out.
REgd the positions i was in, well almost half of the trades are closed in profit (yes the data did help
Hey Guys!
Video has been posted reviewing the Free live trade room session from yesterday.
London could be quiet, in anticipation of NonFarm data. ADP was worse than fore casted. I believe the numbers will be better than expected tomorrow, because these past few months have been bogus in my opinion. So, if numbers are better expected, then risk appetite should be the way of the FX market, but you never know...... I will stay away from it more than likely. If numbers are really strong and equities take off, then I may think twice about it
AUDUSD is finding a bottom at .8364.
EURUSD has settled into a new range of 1.4337 to 1.4375
EURJPY has found a bottom of 136.59
GBPJPY is finding resistance near the 23.6 Fib, with a low at 159.50, about 30 pips shy of the 38.2 Fib.
Cable is in straddling the 38.2 Fib around 1.6779.
I'm watching for opportunities on breaks of those lows and maybe the range on the EURUSD, but keeping trades small, with anticipation of NonFarm, which could adversely affect PA. Trade Safe!
Video has been posted reviewing the Free live trade room session from yesterday.
London could be quiet, in anticipation of NonFarm data. ADP was worse than fore casted. I believe the numbers will be better than expected tomorrow, because these past few months have been bogus in my opinion. So, if numbers are better expected, then risk appetite should be the way of the FX market, but you never know...... I will stay away from it more than likely. If numbers are really strong and equities take off, then I may think twice about it
AUDUSD is finding a bottom at .8364.
EURUSD has settled into a new range of 1.4337 to 1.4375
EURJPY has found a bottom of 136.59
GBPJPY is finding resistance near the 23.6 Fib, with a low at 159.50, about 30 pips shy of the 38.2 Fib.
Cable is in straddling the 38.2 Fib around 1.6779.
I'm watching for opportunities on breaks of those lows and maybe the range on the EURUSD, but keeping trades small, with anticipation of NonFarm, which could adversely affect PA. Trade Safe!
Hey Guys!
Video has been posted reviewing the Free live trade room session from yesterday.
London could be quiet, in anticipation of NonFarm data. ADP was worse than fore casted. I believe the numbers will be better than expected tomorrow, because these past few months have been bogus in my opinion. So, if numbers are better expected, then risk appetite should be the way of the FX market, but you never know...... I will stay away from it more than likely. If numbers are really strong and equities take off, then I may think twice about it
GBP PMI out in a few minutes.
