I would advice to cover shorts (atleast leveraged ones). I don't know what the "normal market" is, went live recently and my experience live is that the fx market acts like stuff I read about penny stocks, no liquidity (except retail breakout/zomg it's a trend people). If that's not what you signed up for, well you've been warned now. I'm in about $10k having trying to figure what the crap is going on and I finally figured out how to get out of it - your loss are my gain. It just feels bad to see everyone here get all bullish when I know with maybe 80% probability things are about to tank etc. I got involved in FX because I thought it of as way to use some of that JPM's fed sourced infinite liquidity to make few bucks but I have nasty feeling they are using their infinite (lack of) liquidity to squeeze retail traders!
(of course you could want things to tank so your order gets filled - but if volatility/ranges expand then you best have good money management)
OTOH: I have gut feeling there could be some trending setting up (somewhere) also but no way I'm into guessing when things break ranges. (lots of false breaks in ranges)
(of course you could want things to tank so your order gets filled - but if volatility/ranges expand then you best have good money management)
OTOH: I have gut feeling there could be some trending setting up (somewhere) also but no way I'm into guessing when things break ranges. (lots of false breaks in ranges)