Currency trading (December 4th > 8th)

[City Bound]

Damn it. I was kicked out at b/e on the slide down. I thought I had caught the falling knife (not without cutting my hands up through trying) so I put my stop to b/e, watched it go to +140 odd, then left the PC feeling very pleased for myself thinking that it wouldn't move very far before the close of the week and ready for it to resume it's upward march next week. Looks like I was wrong. I really don't know where we're going now.

 

[dewi141]

wild day, i was triggered short agian at 9525 - pretty despairing when up at 9580 but looks like ive survived til monday at least. Oustside day today with (hoepfully) close below thu range so im hoping for better things on monday.

 

[Offshore Trader]

Damn it. I was kicked out at b/e on the slide down. I thought I had caught the falling knife (not without cutting my hands up through trying) so I put my stop to b/e, watched it go to +140 odd, then left the PC feeling very pleased for myself thinking that it wouldn't move very far before the close of the week and ready for it to resume it's upward march next week. Looks like I was wrong. I really don't know where we're going now.

I guess that is the risk of not having stops. I was a bit disappointed getting stopped out at 9694 because I thought we would probably go higher again but it obviously saved me big time. I think it depends on your style of trading. I think if you are looking at medium term positions then you have to accept the big swings and realise that sometimes they will work sometimes they won't. Trading intraday as I do then sometimes you get stopped out of good positions e.g. 1.92 -1.98 I made no money despite being long most of the time...now that's frustrating.

Bad luck all the same, it's been a difficult market this week and I'm sure today the big banks must have made a fortune, it's nice that some of the players on here did too.

Good luck for next week

 

[Baruch]

A video from Felix about the NFP news trade:

http://forexdiamonds.com/video.php?video=120806_USNonFarmPayroll