The USD dollar fell sharply on very weak durable good data.
4 comments:
Anonymous
said...
Just taking a look at your blog for the first time. Are you trading on news, rather than following what Forex-Killer recommends? The way I understood it (and I am a complete newbie), is that Forex-Killer is not to be traded on news (prediction) because there would be no way of analyzing the future on what could be an up or down event.
I just purchased Forex-Killer a few days ago, am putting in hourly calculations and as of today am now trading those hourlies based on what Forex-Killer returns.
Yes, you are right. Trading the news can indeed make things worse sometimes. You have to be extra careful and cut your losses as soon as the news is moving against your position. I was a bit careless this time.
Lloyd, Ok. I understand now. Well, I was pulled away from my computer for a period of 10 minutes this morning and a possible gain turned into a "holy crap" move the other way in the EUR/USD. I used the 1 hour calculation on Forex-Killer with a recommended SELL. I'm trying to ride this one out and for the moment am lucky that the trade didn't hit the stop loss.
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4 comments:
Just taking a look at your blog for the first time. Are you trading on news, rather than following what Forex-Killer recommends? The way I understood it (and I am a complete newbie), is that Forex-Killer is not to be traded on news (prediction) because there would be no way of analyzing the future on what could be an up or down event.
I just purchased Forex-Killer a few days ago, am putting in hourly calculations and as of today am now trading those hourlies based on what Forex-Killer returns.
Yes, you are right. Trading the news can indeed make things worse sometimes. You have to be extra careful and cut your losses as soon as the news is moving against your position. I was a bit careless this time.
Lloyd, Ok. I understand now. Well, I was pulled away from my computer for a period of 10 minutes this morning and a possible gain turned into a "holy crap" move the other way in the EUR/USD. I used the 1 hour calculation on Forex-Killer with a recommended SELL. I'm trying to ride this one out and for the moment am lucky that the trade didn't hit the stop loss.
Indeed, Pauly. The tide has turned completely against the USD dollar in the last 36 trading hours. Arrgh.. I was caught off guard too.
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