2: News to come is: BB speak at 7:00.
3: What's the main event just happened that move the market? and is it trendy? nothing special, UK housing and GDP is better but that didn't matter, US GDP better, ES up 7, but that didn't matter yet, the pair is stuck between 1.2700 and 1.2740. Russia has been buyer AND seller for overnight session.
4: What do you think the market will do today? range, up move in short term. currently at 1.2723, see how it handle 1.2740.
5: Were you right about the market? (After the trading session)
6: What's the trade? Is it related to the previous loser or winner?
Do you take half at 1R?
buying the dip
How many pips it risk? 20
what's the daily limit and daily risk now? 60/20/3
BTW, the bidding war between HP and DELL went crazy, a 5$ company now is 30$
6:35, 5 minutes after stock market open, ES cool down little, from +9 to +6. EU at 1.2714, very quite morning because BB speaks in 25 minutes.
6:55 U Mich better than expected, but es didn't rally much, I shorted at 35/40 level and take profit at 30. As BB is talking in 5 minutes.
7:00 initial reacting to BB talk is downdowndown, ES now -4, and EU 1.2690 I'm only watch, spread from OANDA is too big, not worth of trading.
And BB says:" "despite this recent slowing, however, it is reasonable to expect some pickup in growth in 2011 and in subsequent years.""
This actually match with my view as well, we are bad, but we are not that bad.
This is an early trade.
this is a missed news traded. I TILT a little, but as long as it's below 1.2740, it's still valid, if it breaks above, I need to swallow the blood.
9:37, 2 hours after BB speak, market react pretty well after the initial down side move, I didn't buy eu but I bot some AUD/JPY, as I had a long position from 100 pips away, not really bother about getting to BE or lose it, it turns out good as I took profit at 80 pips... the old long position is still there and targetting another 100 pips maybe. I also have long usd/jpy and IWM.
As of IWM, I'm thinking take it at the end of the day, as I already have 1$ on the table, don't want to lose it after the weekend. BB's talk has a bad track record that flip after days. Will see what happens.
I sold all of my IWM at 61 level, it went up to 61.7 at close, the problem is that I have done this twice, last time was also BB talk, he give the word "uncertenty" and market tanked. I loaded up with IWM and other shares, but I exit the next day with about 2% in profit, it rally next for about 10%. Let's see if this time it goes 10% next week.
And here is the chart for 5 minutes of the day, it's FLAT, before the news and after the news. The right way is the not trade the news, as Oanda's crazy spread and fast move hard to set stop for the new. Before the new trade, need really to sell high or buy low to make profit, such as today can sell 1.2740, which is the previous high, shouldn't jump in too early.
Well done man, I also got +60 from an EURUSD trade. :)
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