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[Pat494]

Morning all

Plenty of important figs today

PPI - 12.30 pm
Unemployment - 12.30 pm
Core PPI - 12.30 pm
PMI - 2 pm

good trading

 

[robster970]

And yeah, why do I play contra-trend?

I've done an analysis of 100+ trades, and the one conclusion that came out of that was: don't do contra-trend. Sounds obvious, lol.

Problem is that there's plenty on the screen to make me doubt myself. Say if there's a strong sell move, will the momentum then switch to the downside, or is it going to be a pullback in the trend? Both are possible options. Then again, you get a move like tonight where the E/J moves up, but then sells off rapidly before a news item, then quickly reverses back up and makes new session highs. I have to scratch my head over that stuff.

Maybe it just comes down to screen time?

Hmmm.

Mr Digestive is correct - trading with the prevailing direction is the lowest agro. I think you can learn a lot from Mike and Mr Biscuit on this thread.

 

[Pat494]

sell Eur/Usd @ 1.30509

 

[Pat494]

sell Eur/Usd @ 1.30509

In too soon
& out

 

[wackypete2]

good morning

Peter

 

[wackypete2]

ej getting wacked with a sledgehammer

 

[wackypete2]

short ej 108.88 stop 109

 

[wackypete2]

exit 108.80 +8

 

[wackypete2]

not sure what that was all about?

 

[wackypete2]

still looking to short ej. I'd like to see it pop over 109 then drop back under.

Peter

 

[samirs]

not sure what that was all about?

Macro sellers in EUR/JPY… | ForexLive

 

[wackypete2]

short ej 108.92 stop 109.04

 

[wackypete2]

1st target is 108.84

 

[wackypete2]

exit 1/2 @ 108.84 +8 move stop to be
2nd target 108.76

 

[wackypete2]

missed 2nd target by 1 pip. still holding short

 

[Pat494]

not sure what that was all about?

The Vampire Squid must have farted

 

[wackypete2]

2nd target hit +16

Peter

 

[wackypete2]

Macro sellers in EUR/JPY… | ForexLive

Thanks. I did finally see that. It came up late on my feed though.
I do like forexlive

Peter

 

[wackypete2]

great start for today so far!

 

[ZEN archer]

great start for today so far!

Same over here
I was thinking to keep it like that and stop till tomorrow - there are all sort of different reports in US in less than an hour.