I believe the strategy that I´m going to use this week is ought to be relaxing, that means I´m going to flow with the short term trend and hedge whatever postion I may have at the NY close (13:30 NY time) everyday, that would allow me to rest properly from trading and think outside the box. I´m still long @1349 and short @1336. What I will fo for today is to try close the short around 1332 for a quick 5M chart rally and then go into hedge again and leave it until tomorrow. The market may continue in consolidation mode for the rest of the week between 1347 and 1331 or lower, good time for scalpers.
Monday, September 11, 2017
9 comments:
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get some rest my friend. by the way its my first time to hedge ever!. gotta say , its nerve racking :-) , very hard to estimate the turning point.thanks for the amazing education.you made me look at trading in a whole different way really.
ReplyDeleteI know but being on a hedge, although is not the best strategy, gives you time to reassess the situation in fast moving markets.
ReplyDeleteexactly its like my equity is on pause till i figure out when to whats going on and release my sell . might even add on my longs from that area if i had the guts at that moment. lets see :)
Deletegetting out my bass guitar and looking away for a while :)
ReplyDeleteso Cesar, did you close your short position?
ReplyDeleteI got a buy position in 1332, it looks like 1h chart will close above 1332.
ReplyDeleteI did but I entered a new short just above the closing price (1333). The day is closing down with a long candle so I would not dare to stay with the long position only because there is, at least, one more leg down to come. Long story short I´m on hedge until tomorrow and would only try to close the short again if 1327 holds by tomorrow.
ReplyDeleteWhat do you advice me? now I got 20 to play lol. (I know that it is by my own risk)
ReplyDeleteWell supposedly we could see a short squeeze into the close, if we don´t get above 1335 within the next 15 minutes I think we could see another leg down. Probably hedging until tomorrow is more worth it, at least better than staying on the PC for the rest of the day. Tonight Asia can push it up, but NY is sort of donde with this for today.
ReplyDelete