Spread

With the Greek debt being downgraded to junk, I had a feeling the markets would see some pretty volatile moves today and so it proved! TUFXP didn’t quite go to plan today, after hitting the official scalp, it missed my scalp by 0.5 of a pip due to the spread. I moved my stop to breakeven as turning a winner into a loser is not only bad for the balance but more destructive for my confidence. Unfortunately I never re-entered despite it going to -15 then all the way back to scalp. Whilst frustrating, I was happy enough with my decision as it could have easily of kept going to a full loss. Thankfully a couple of other trades hit their respective targets a good day was seen. With only two days left of the month, I should be on track for another profitable month which is a step in the right direction.

On a note of TUFXP, the fxcm feed seems to be going from bad to worse with constant outages and for a brief period this afternoon, it was displaying the completely wrong prices. For $88 a month, I expect better and also from TUFXP management to implement a more reliable and cost effective alternative. I realise there is a substitute feed but that produces different results and that just complicates matters even further.

I’m absolutely starving so I’ll end it here. My plan is to keep trading the London session despite being in Australia and some 9 hrs ahead. I’m comfortable trading this session and I know it’s characteristics and generally what to expect. The Asian session doesn’t appeal to me as of yet but I’ll keep an eye on things.

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