Camel,
Nice to hear from you again, what I did was precisely this.
Assessed risk,
Assessed open trades and the biggest losers. --Cut them short first.
Left some of the mid range losers open, due to the notion that they would flip at some point "next week" which was this week.
Then due to the HUGE amount of margin the metals trades take up I squashed all of them gain or loss.
Went back to the initial plan with severely trimmed positions and in the red. Yet, stuck to initial plan.
Went back to market and assessed which pairs I felt were the most oversold and overbought Using majors and pop (popular) minors Loonie, Geppy/Dragon
Aussie - Kiwi (and all majors maybe not U/J / ninja? lol)
Next I added extremely aggressive positions and let them ride until cut time This Afternoon.
Very risky to trade a live account like this but my basis was simple.
Dollar is bearish across the board. Thus, a positive news day for it can shake things up in a big way, "FOR THE DAY". once the release subsides, and things start to flatten out, the trend begins to re-emerge.
So it was primarily fundamental weakness on the part of the USD.
Now maybe, the test against the NFP took the weeks gains, yet, today's news pushed even the old positions EXCEPT, Gold and some silver way over the edge, with the addition of short covering and buying, (order flow/ price action) I was able to squash the loss and double &1/2 the profit.
Now the profit is booked. With a few left open, mostly new.
---May have held the metals back today a bit at a projected 4% coming in at a fat 0%
See attachment for the rest
Nice to hear from you again, what I did was precisely this.
Assessed risk,
Assessed open trades and the biggest losers. --Cut them short first.
Left some of the mid range losers open, due to the notion that they would flip at some point "next week" which was this week.
Then due to the HUGE amount of margin the metals trades take up I squashed all of them gain or loss.
Went back to the initial plan with severely trimmed positions and in the red. Yet, stuck to initial plan.
Went back to market and assessed which pairs I felt were the most oversold and overbought Using majors and pop (popular) minors Loonie, Geppy/Dragon
Aussie - Kiwi (and all majors maybe not U/J / ninja? lol)
Next I added extremely aggressive positions and let them ride until cut time This Afternoon.
Very risky to trade a live account like this but my basis was simple.
Dollar is bearish across the board. Thus, a positive news day for it can shake things up in a big way, "FOR THE DAY". once the release subsides, and things start to flatten out, the trend begins to re-emerge.
So it was primarily fundamental weakness on the part of the USD.
Now maybe, the test against the NFP took the weeks gains, yet, today's news pushed even the old positions EXCEPT, Gold and some silver way over the edge, with the addition of short covering and buying, (order flow/ price action) I was able to squash the loss and double &1/2 the profit.
Now the profit is booked. With a few left open, mostly new.
Industrial Production:
Change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities;
See attachment for the rest
XT
Glad to see the demo is up&running again
It was me who asked why you didn't close all the dollar shorts before the NFP and reverse.
A quick look at the trade list shows that many trades opened prior to the NFP and kept until today to close, went back into the green (a little). So, recovery took one week. On the other hand, all dollar shorts placed after the dip cashed in very well. So, your fundamental view re the true weakness of the USD is right and I thank you for demonstrating this at a time a lot of people...
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
i am learning though
