Thursday, June 9, 2011

Casino thrills

I was lucky enough to close trade a few seconds before the madness episode. It was 5 minutes after the news and with no particular reason, price dropped 70 pips and raised 80, all in 19 seconds!!! How can anyone trade under these conditions and stay alive? Forex becomes a casino little by little, with all the thrills and the suckers hooks of a casino. I feel a growing deregulation of the currencies market and a wise man should stay aside for a while.

At the very same time of this episode, the ES future (S&P index) was calm like a zen garden. I monitor this instrument also in the last weeks and I now understand the thousands of traders who trade this for an income. No big thrills, quite, steady moves and more safe to gain a few ticks here and there. More soon..

3 comments:

Soma said...

That movement is madness.

kermut said...

Yeah, I got done in that move down as well. Admitedly, shouldn't have been trading, because someone from ECB was speaking at that time. And as we know, speeches make for some wild swings.

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