EURJPY
It has been almost a week since this entered the 200ish pips range that the MMs have kept it in since, cycling the price up and down. Some points to remember follow.
1. When the MMs keep price in a range, even an ill defined "range", it is for the purpose of filling SM orders using two methods: match with DM orders and stop hunt other SM orders that are in too soon. Remember too, the MMs are the smartest of SM. They build positions also, never using their own money but by stealing the positions of others thru stop hunts.
2. We cannot know how the MMs will move price next,.....or will not move price next, as the case here, since they have continuously delayed the move they have planned and for which they are filling SM orders.
Personally, and I was asked about this a few days ago, my entry short was probably one of the very first "SM, but too soon" to arrive at the MMs for execution, which they gleefully obliged. Ever since, I have assessed for additions. At several spots in time, the last yesterday, I had an opportunity to close with very decent profit, even though a few entries would have been closed red. I did not take advantage of that opportunity and now the price has gone back up. Did I do right by not closing? Am I wrong to wait for a break low out of this range? Do I need to be committed to a mental institution? So,......
3. Just as bad that are the tricks the MMs play on us out of greed, so are the decisions we ourselves make sometimes for the same reason.
tah
It has been almost a week since this entered the 200ish pips range that the MMs have kept it in since, cycling the price up and down. Some points to remember follow.
1. When the MMs keep price in a range, even an ill defined "range", it is for the purpose of filling SM orders using two methods: match with DM orders and stop hunt other SM orders that are in too soon. Remember too, the MMs are the smartest of SM. They build positions also, never using their own money but by stealing the positions of others thru stop hunts.
2. We cannot know how the MMs will move price next,.....or will not move price next, as the case here, since they have continuously delayed the move they have planned and for which they are filling SM orders.
Personally, and I was asked about this a few days ago, my entry short was probably one of the very first "SM, but too soon" to arrive at the MMs for execution, which they gleefully obliged. Ever since, I have assessed for additions. At several spots in time, the last yesterday, I had an opportunity to close with very decent profit, even though a few entries would have been closed red. I did not take advantage of that opportunity and now the price has gone back up. Did I do right by not closing? Am I wrong to wait for a break low out of this range? Do I need to be committed to a mental institution? So,......
3. Just as bad that are the tricks the MMs play on us out of greed, so are the decisions we ourselves make sometimes for the same reason.
tah