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BEFore NFP

I opened the following positions today which I intend to keep until and after NFP release:
EUR\USD short @ 1.1192
EUR\JPY short @ 133.98
AUD\USD short @ 0.7080
NZD\USD short @ 0.6411
All profit taking will be decided later depending on how these pairs move today. While I don't expect much of surprise with NFP release today I think the US dollar will strengthen a little because it weakened yesterday. All 4 trades agree with major trends these pairs are going with, and any up moves are just m…
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Why It Pays Off to Write Your Blog Posts

We see this every month in Trader Contest. The contestants who take the time to post to their blogs have much better chances at winning prizes and finish on much higher positions, and they do - each and every moth!
Take my example in July - I hardly doubled my initial equity but the points for writing the blog posts let me finish as number 11! I just wish I had written one more posts to take the spot number 10 since the difference in the prize amount is 100%. And there are a few others in the t…
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shanziester avatar

I guess we should not reveal this trick to others haha. :)

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So Far So Good

I finished the first week of July Trader Contest in the top 10 and I feel quite optimistic about making more profits in the days ahead.
But was it just the luck? I really didn't have any strong feelings about where the market was going to go; this was mostly because of the confusion in regards to the situation between Greek government and its European creditors. So, I basically went with my "gut feeling" which proved to be correct.
I was way ahead before NFP release but I didn't close these po…
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Awaiting NFP

So, The NFP data release is upon us along with the US unemployment figures(one day earlier due to the holiday long weekend in the US). If you believe in ADP forecasting NFP the market might be in for yet another positive surprise.
But I'm actually contemplating closing all positions as even if we get a positive set of data, the market reaction is unpredictable. If the NFP number is in fact better than the market expects EUR\USD will test 1.0950 level but I wouldn't be surprised if it rebounded …
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New Month - New Opportunities in The Trader Contest

Honestly, I'm very confused about what is the market sentiment in the last few weeks and where the particular pairs are going. How one can trade the news in this very uncertain environment where reactions are completely unpredictable and volatility stays very high.
The stock market doesn't give much clues ether as it swings up and down in uncontrollable manners. I feel that at the moment everything that's going on is somewhat random and directionless and the only reliable things are major suppor…
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My Worst Trading Day

Yesterday I lost all my gains I got so far in this month's contest and I'm basically back to square one with just a little above the starting capital. I was long on the US dollar in a few trades and I got hit rally hard with EUR\USD - lost 131 pips. I just didn't believe that euro can go above 1.1300 after fantastic NFP data on Friday.
Someone smart said:
"The market will always go further than you think"
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WallStreet6 avatar

It's always painful to learn about SL the hard way!

csan86 avatar
csan86 9 6月

Good luck for the next few weeks!

JonSnow avatar
JonSnow 9 6月

Yes, it was painful. But in the market conditions where the pair moves 200+ a day 130pip SL was not unreasonable.

speculo_ergo_sum avatar

NFP data fantastic only on surface -- the headline numbers are good, but at closer look the data is not so rosy

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EUR\USD to Retest 1.0820 Support

I really don't see the common currency appreciating much further in the days ahead. We'll probably see 1.1180 on Monday but eventually it will drop to 1.10 and even 1.0820 to retest this key support.
The NFP was outstanding and put September rate hike back on the table. Both sides of Greek debt negotiations are loosing patience with each other and expressing their frustrations in a stronger language. German bond market was supporting euro last week but that won't last forever. Thus, any further
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WallStreet6 avatar

agree!

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Ending the first week of Trader Contest.

My performance during the first week of June Trader Contest was OK but I was hoping for a little more. One mistake I repeated way too often was not taking profits on several trades which were positive only to turn red in the end. My lesson here is that in the times of such high volatility you have to be quick.
I made some nice profits that increased my balance by 30% when NFP data was released but I expected a follow up in dollar appreciation which didn't come Friday afternoon. So, I ended up w…
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NFP ! (in case you forgot :)

So, this week I feel like every day was a non-farm payroll day. Pairs traveling up & down 200+ pips. I wonder, does this mean we are going to see 500 pips moves today? Another question that popes to my mind is: If NFP surprise to the upside and EUR\USD drops to 1.1050 - 1.0950 levels, will it quickly rebound from there back to 1.1245 or higher?. I wouldn't be surprised.
And then, there's ongoing Greek drama with all the speculations about possible default which some call "postponing to bundle t…
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EUR\USD - 1.1535 or 1.1000 ?

EUR\USD managed to stay in heights above 1.1250 overnight and with no data releases during the European session today, it will be interesting to see if it still has some steam left to attack 1.1290 area again.
A small correction would be due( to low 1.1210-1.1190) as the pair rallied more than 200 pips for two days straight and falling GBP might also drag it down to that level. But any significant move at this point will be caused either by another news about Greece or by tomorrow's NFP.
I stil…
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