Steady Eddy

Well after recharging the batteries over the weekend, it’s business as usual in the Forex world. It’s been an exceptionally slow day sprinkled with excitement in the morning followed by a tedious 3 or 4 hours of screen gazing and plenty of random google searches! My morning trade got to within 2 pips of the scalp when I decided to my stop to breakeven per my money management rules. What follows can only be described as lunacy. GBPUSD decided it would reverse at full steam take me out for breakeven and then feeling slightly better about things watch it go to within 1 pip of the original stop before doing an abrupt U-turn and then finally hitting the scalp. So no real damage done but more of an annoyance more than anything. TUFXP has been playing ball though enabling me to capture a small percentage gain for the day. I’m waiting for a few afternoon setups to finalise then it’s the closing bell on my trading session.

NFP created a monster move on all pairs and EURJPY especially was hilarious; watching it dive down for around 90 pips before heavily retracing left me wondering how many people would be licking their wounds?

Anyway, hopefully tomorrow can give a little more entertainment..

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    • Andy M, UK.
    • January 11th, 2010

    Yeah, NFP was another lesson in discipline – staying out of the market is tougher than it sounds. I was showing a friend a chart on my phone and saying “just watch any minute now it will go beserk” and then off it went….

  1. Alternative to trading on NFP without having to wait for it, is to take a trip down to vegas =)

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