Hi! First entry in my trading journal. I have NOT YET entered any kind of trade, DEMO or LIVE, but the PLAN is start today! Or tomorrow! So exciting! HOWEVER, I have been informally "guessing" as to trades I WOULD make, and using correlation, have been successful. FOR EXAMPLE, I checked the dolla index today like this: WHAAAA??? Is that a BREAKOUT?? Seems pretty trendy to me. Early in the day, it had started to climb, so being the Euro-is-the-anti-dollar-fan-boy that I am, I (pretended to) set up a (imaginary) trade, SHORTING (selling) EUR/USD. And? Hoo, weeeeee! Would you look at that. Down, down, down. The DOW tanked today, talks of recession blah blah, but the old Greenback is definitely acting like a safe haven right now. Bottom line? We made CASH today. CASH! UH, pretend cash, like monopoly money, only even more imaginary. Like points on Whose Line Is It Anyway. ...
Demo day! OK, we're going to break down the market this morning, which really jumped the shark yesterday with a 600 point drop on the DOW. My guess? DOW should come surging back this morning, driving USD/EUR down. But what about the euro??? Gotta go look. Right! So after yesterday's HUGE surge, we see the dollar going DOWN this morning. This should have a CORRESPONDING effect on USD/EUR. Just looking at one index (USD), my GUT (which is amazing) says go LONG on EUR/USD. Welly welly. Would you look at that. So far, it's like shooting fish in a barrel with an assault rifle. A barrel!! BUT: it looks like this all went down while I was sleeping! Maybe around 12:00 am. I knew the trend would reverse after yesterday's bloodbath, so how could I have capitalized? Set an indicator alarm? Stay up for the trade? When is the best time to trade EUR/USD?? Maybe do your fav trick and set up the trade ahead ...
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