Intraday Market Thoughts

Archived IMT (2009.07.09)

by Ashraf Laidi
Jul 9, 2009 16:57

Traders must think beyond justifying every 0.5% move in equities or 80-90pip move in currencies when choppiness and indecision are dominating the flow. Oil's slide below $59.30s and subsequent bounce towards $60.20 triggered 100-pip moves in USDCAD. But the positive correlation among stocks, CAD and oil remains alive..and so does the negative correlation with USDCAD. Among the key factors to successful FX trading is money management, which includes conservative margin utilisation. This is vital in overcoming choppiness and whipsaws, enabling traders to stick to their positions. Heightened indecision in equiyies around key support levels may not be a good sign.


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