FX Trading October 1 - 5

[jacinto]

Would be interested to see a screen shot of your trade and reasons for entering - if it's not too much trouble.

here you go

http://www.trade2win.com/boards/showpost.php?p=361436&postcount=150

you caught me at the door. park time with 4 year old now.

 

[JillyB]

here you go

http://www.trade2win.com/boards/showpost.php?p=361436&postcount=150

you caught me at the door. park time with 4 year old now.

Thanks J, enjoy the park.

 

[TheBramble]

how do you assess potential direction of NFP?

There are a number of fundamental approaches that have been taken to this trendie, ADP being the most significant (in terms of effort, long-standing and sheer number-crunching) but none have shown any consistently demonstrable success in showing (a) which way the data will go and (b) how the market will react/not react to that data, or more importantly, to the difference between the estimate and the actual. Bear in mind the US needs 150,000 new jobs a month to stay static.

You could always carry out TA on the NFP data itself…or…

 

[trendie]

There are a number of fundamental approaches that have been taken to this trendie, ADP being the most significant (in terms of effort, long-standing and sheer number-crunching) but none have shown any consistently demonstrable success in showing (a) which way the data will go and (b) how the market will react/not react to that data, or more importantly, to the difference between the estimate and the actual. Bear in mind the US needs 150,000 new jobs a month to stay static.

You could always carry out TA on the NFP data itself…or…

I think NFP is fundamental/news/sentiment, so TA wouldnt be much use. also, the speed of reaction would be paramount.

actually, my initial observation that fading the move may be more useful.

as per my initial thoughts: I had UP-bias on both GBPUSD and EURJPY.
both, if positions taken at todays morning low, would now both be in profit.

clearly, I have some work to do over the weekend.
but in reality, its only 1/2 a day a month. disproportionate amount of effort on such a thing. lets not get greedy.

nice sunny afternoon. moon still visible!! (lovely crescent)
have a good afternoon and weekend.