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    USD at its lowest levels of 2 years


    Tags -          

    Of course, when I'm out to lunch (okay okay, I was having a beer) USD reached its 2 year lowest levels.

    GBP/USD currently trades at 1.9681 ( yesterday's price ca 1.9460)
    EUR/USD currently trades at 1.3258 (yesterday's price ca 1.3150)

    Anyways, we'll see what happens.

    UPDATE

    At this state I have no idea what to do. This sort of market situation doesn't happen too often, for me, beginning trader it's something very new. So under current circumstances I have highered my possible stop loss limit to $12.50 per trade, meaning that as I only have money for 4 trades, then I will make 4 trades. I'm making 3 trades in the direction of the current trade (GBP/USD,EUR/USD,CHF/USD) plus one countertrade with EUR/USD. I believe that should there be a major pullback, then the deal with EUR/USD should cover at least half my losses with the other trades.

    We'll see.

    UPDATE
    I have just adjusted my stop losses for the trades moving along with the trend, so I have around $16 still on my account to make another trade once I seee a big move to cover my arse.

    UPDATE
    There has been has been sideways movement with small volume on all charts for about 90minutes to 3 hours now (depending on the pair), so I expect breakout in SOME direction soon. But I'm not sure about the direction. So I have added a new position in the opposite direction to the trend for GBP/USD. This is really too much for newbie like me hehe, but I think one way or another, experience-wise it's definitely good, independent of whether I will eventually take loss or profit. My stop losses are rather tight, and this might bring me loss as well. We'll see....we'll see, that's all I can say at this point.

    UPDATE
    I have now also added a position to go long on USD/CHF. It looks like all together these deals will bring me lots of loss, but for the sake of education, here we go - 6 deals, 3 in one, 3 in another direction.

    Or well, not anymore, the short USD/CHF was just cancelled by my stop loss limit, EUR/USD and GBP/USD aren't far from that.

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