Yes I don't believe it wise to trade my own money.
I was brief the eurchf, and with good reason, however, looking back what if I had made an error. That would have been a significant part of my account wiped out.
Just don't know if it's worth it.
Yes I don't believe it wise to trade my own money.
I was brief the eurchf, and with good reason, however, looking back what if I had made an error. That would have been a significant part of my account wiped out.
Just don't know if it's worth it.
May I propose trading before or pairs which aren't affected by their central banks at that time? There is typically enough movement to make some profitable short term trades before most of the news come out. Works for me.Originally Posted by ;
Anyway: see the larger picture. Things like that won't happen.
Has my outlook influenced on forex? The short answer is, no....it hasn't.
The SNB hasn't played on a level playing field for so long as I've been involved in FX trading, and almost certainly for quite a while before that. I forget the exact dates, but a few years ago the EUR/USD was stuck at the 1.30's for a protracted period, which had been fruing and induced me to not trade that cross until the impasse has been broken. Finally it was busted and in due course it had been revealed that it had been the SNB that caused this using their persistent interventions. I think from memory that the price of that workout was something like 30 percent of the Swiss GDP....and the market won in the end....as it'll always do. From that day on, I chose to never trade any CHF cross as the playing field was not a level one.
Of course we have seen QE from the FED and the BOJ and shortly possibly the ECB, but to some degree we're kept up to speed on what they're doing. For instance we knew beforehand that the FED likely went to'taper' the QE off until there was no need for this. The SNB nevertheless, deliberately mislead and tell blatant lies to the planet, and then, as we have seen, recklessly pull the rug out from under everyone....their own exporters and tourism sector comprised. And....the market wins....as it always will do. I've heard some economists saying that this latest attempt (the'peg') will have cost something like 80% of GDP now around.
The market is always right and it is going to always triumph!
For me personally, my exposure to the market is as restricted as I can make it. I don't trade CHF crosses and that I do not trade Yen crosses. Abe and Kuroda are way into uncharted territory with their bold action and the result is far, far from specific....so I will not expose my account to the Yen.
Also, my trading is short term and transactions are never made overnight, let alone over the weekend, and also the majority of my transactions are concluded within the hour....further limiting my exposure to the market forces.
Could I be caught out by some unforeseen event? ....yes of course I could....such is the character of the monster. However, I have done all that I reasonably can to limit my risks and exposure.
Having said that, I continue to chip away in the market, little by little. . .bit by little....same as it ever was!
No.Originally Posted by ;
Genesis is (imo) best suited to M5 or even M15 TF. I exchange exclusively on the M1 TF for the past year...
The thing I heard is a simple but economic concept. If a currency is currently trading close to a peg, market makers necessarily step out of the market through time. This is due to the math of trading. The situation exponentially worsens from the wake if the peg ever breaks.
A counter jolt can happen later sequentially stabilizing price action, directionally counter. Or diminishing the rate of decline/increase.
It is that simple.
I think that it shows the significance of stops. I'm a swing trader and I had two trades hit my ceases and lose the majority of the profit I'd gained (still ended up at the dark ). HoweverI live to trade another day thanks to risk management and utilizing ceases.
I don't understand the best way to day traders/scaplers do it; I don't have the belly for this. I like putting in my commerce and (attempting to) fretting about it for some time. Props to ya'll who grasp those intraday charts
This event set the limit although I lost all the equilibrium and more, in different circumstances I would have financed the acc and continued to exchange. No funds for trading. Money that's been made in the economy that is real deserves a much better environment.