Nothing like getting hit by a freight train DANG, The JPY and NZD made incredible moves. Well we assess the damage and go on. When I go 100:1 Monday there is no way my account would be able to handle this kind of movement. Have some tough decisions to make. I definitely have to add funds to the account to cover this on the switch over Monday. By the end of the day I will have to cut some losses if I dont get some major retraces. Dang NFA ruins my ability to use the 2.4.2 recovery without major infusions of cash. I see IBFX is moving to the UK. Will see how that turns out. If I stay in the USA I will definitely have to drop all volatile pairs and not trade them anymore. Even though there are good signals out there I must clean up this mess first and not commit anymore margin to my trades. If I had just stuck with my 11 pairs I would not be in as much trouble but still would be. I definitely will have to drop gbp/jpy and eur/nzd and go with 8-10 pairs. Will study it this weekend and decide. Even though this was a bad day, it opened my eyes to the potential dangers I will have to face trading 100:1. I definitely will have to tone down the risk factor.
I have never seen the market move like that when the USA session is closed. I have seen it drift in one direction all day but not make really big moves. gbp/jpy 700+ pips dang.
TAKE PROFITS
eur/chf, +51
eur/usd, +66
gbp/nzd +10
CLOSED FOR LOSS
gbp/jpy -600
OPEN TRADES
aud/jpy, -256 +50
AUD/NZD -77
eur/gbp -70
eur/nzd -280 +65
gbp/chf, -217 -24
gbp/jpy -414 -214 -14
nzd/chf -182 -62
nzd/jpy, -408 -208 -08
usd/chf, +78
usd/jpy not entered
TOTALS
total for day -473
-19 for the week
+1496 for the month
Carry over -2241
primary trades
BUYS
SELLS
Secondary trades
BUYS
SELLS
OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy
aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.
chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd
gbp/jpy - gbp/usd - usd/chf - usd/jpy
Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.
Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility. __________________
I no longer trade usd/sgd. It is going to 25:1 leverage, simply not worth using up that much margin for a slow mover like that.
I have never seen the market move like that when the USA session is closed. I have seen it drift in one direction all day but not make really big moves. gbp/jpy 700+ pips dang.
TAKE PROFITS
eur/chf, +51
eur/usd, +66
gbp/nzd +10
CLOSED FOR LOSS
gbp/jpy -600
OPEN TRADES
aud/jpy, -256 +50
AUD/NZD -77
eur/gbp -70
eur/nzd -280 +65
gbp/chf, -217 -24
gbp/jpy -414 -214 -14
nzd/chf -182 -62
nzd/jpy, -408 -208 -08
usd/chf, +78
usd/jpy not entered
TOTALS
total for day -473
-19 for the week
+1496 for the month
Carry over -2241
primary trades
BUYS
SELLS
Secondary trades
BUYS
SELLS
OK my top 11 pairs and alternates:
This gives me 2 of each: aud, cad, chf, gbp, nzd,
4 of each eur, usd, jpy
aud/cad - aud/nzd this matches minor or commodity currencies together. As I have stated before minor currencies can get squashed by the larger currencies.
chf/jpy - eur/jpy - eur/usd - eur/cad - eur/nzd
gbp/jpy - gbp/usd - usd/chf - usd/jpy
Alternatives: the aud/jpy, eur/jpy, are all similiar so choose one. The Aud/jpy is not as volatile as the gbp/jpy if you want less movement but still like some volatility but it will do long trends more. The most important thing is you dont want to be heavily investment into any one currency. If the EUR/NZD is too volatile for your tastes you can replace it with nzd/chf or nzd/jpy. I just happen to like the eur/nzd pair and the way it flies around the chart.
Most volatile pairs: eur/nzd and gbp/jpy can be replaced with aud/jpy nzd/jpy nzd/chf for less volatility. __________________
I no longer trade usd/sgd. It is going to 25:1 leverage, simply not worth using up that much margin for a slow mover like that.