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Forex: Well, after Friday, any thoughts?
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Posted by: awty
The Forex markets had some rather large movement on Friday.
Anybody care to share any opinions on whether the market will go further, or will we possibly see some 'bounceback'?
I'm not really sure myself, still trying to sort it out. I would guess that we'll see at least some retracement of Friday's moves, as people 'readjust' positions, but then...???
Just my opinion,
Jeff
Posted by: jaukki
No strong opinion here yet... but i guess we'll see a lots of movement up and down... Let me know when you know which happens first and what will be the boundaries. 
Posted by: awty
I'm NOT good at guessing boundaries! Others are much better at that. I figure that there will likely be some strong movements today, and that may be a real good indicator for tomorrow's US sessions, so I'll probably trade lightly, myself, unless there appears to be a STRONG trend, in which case I might place some larger trades tonight after work.
Should be fun to watch, and I hope I can end up on the right end (profit), either way...
Jeff
Posted by: awty
I trade at Oanda, and I see 'someone/something' has already brought the EUR/USD price up there 5 pips already. Several hours earlier than it usually starts showing. Somebody making a bet on the upside? Or, just closing out and preparing for more down?
Time (SHORTLY, HOPEFULLY) will tell...
Jeff
Posted by: aceriker
I'm looking at the Turtle traders at the moment, Jeff. They've written a free PDF document with all the information in it. It's not for the small guy though, you may have to take some serious 'hits' before you get into profit.
An interesting concept though.
ace
Posted by: awty
Does $3k wiped out in 4 hours count as a small hit? lol...
I've seen a LOT of references to turtle traders, worth a look at some point.
So far today, I'm about even...
Jeff
Posted by: aceriker
Unfortunately $3k is small-fry, awty (in relative terms to what these guys were doing, for you or I, it is a sizeable hit). These guys were trading with $500,000 to $1,000,000, and they were novice traders with no prior experience of trading.
Although the amounts they got to play around with are huge, I'm guessing that they were either not leveraged or really lowly leveraged (max 2:1).
If you can't find the document, I can email the PDF to you if you want, it makes some interesting reading, even if you just want to find out more about the experiment.
ace
Posted by: awty
Agree, $3k is quite a sum to me, but not to many others. (Hopefully me, in a year or two...) Sure, if you have the info on the PDF file, I'd appreciate it (jeff@valasek.org).
And, sorry, I lost the bonded-2 thread, but thanks for looking into it!
Jeff