Friday, November 23, 2007

Best possible return

The best market to trade is illiquid market. The worst market to trade is illiquid market. Believe me, I know, what I am speaking about. It has happened to me I have had great loss because of illiquidity in the market. Today it happened to me I had best possible return. The markets in Japan were closed last day - as you know forex is operating 24 hrs. So illiquidity during Japan session was guaranteed. But since a new start in my trading it is surefire: I fallow blindly my system in any market conditions. So I did last night. In past times I would quit the illiquid market all together but not now. And I had more than 12 percent return in one day (lets say two, I ws holding these positions for two days) on my main account. EURUSD has shortly traded above 1.4950 where my limits were placed.

Now Europeans are coming into the game and they will be more rational than Japanese. I expect a quite impressive correction in the direction of first important support at 1.4850. But the long term USD weakness is still here. So I am seriously considering to enter the market during New York session again and to be long. However, that depends on price action. Let’s see, now I need to relax a bit - now I can afford to relax a bit.

No comments: