The dollar let out some steam from Friday’s rally but not before I closed out my short dollar positions. It’s almost scary to see how the market moves your direction right as you close your positions. Although it’s just paranoia and frustration, it happens way too often to look over.
Today was a tricky day to trade, my stop losses were getting hit and my confidence dried up to hold onto positions. My main targets was the gbp, but couldn’t find any good trades. I had a big enough profit from Friday to afford a lost today and still end the day positive. Now I’m just going to wait for either another dollar rally leg or the correction from here. I’ll be waiting on London.
Today was a great day in both London and NY session. New York in particular was a crazy day for the dollar after the Preliminary GDP data came out better than expect of 1% increased vs 0.4% estimated. The AUD and NZD both came crashing hard while dollar remained powerful through all session.
Although I had a great day today, I could’ve done so much better. I was stuck on my long GBP/USD trade that I miss the opportunity to short it or to short EUR/USD. My GBP/NZD long exit was horrible as well with my NZD/JPY shorts, but I almost made back all my losses for this week. Funny how even on a good day, the market still manages to screw me over. I have a GBP/USD long trade I’ll be holding over the weekend. Sl is right at today’s lows, let’s see if dollar dips a bit next week.
The Japanese yen continued to fall, as UJ and NJ tease me on it’s way up. I had a good entry to long the two pairs, but ultimately closed it. Woke up to see the yen fall about 200 pips since yesterday.. Preliminary GDP is set to come out tomorrow which will be interesting to watch. Oil is still rising up as the dollar weakens. Right now, I’m focused on two pairs, the JPY and the GBP.
The JPY is interesting because the Japanese economy needs a weak yen to function well. The Japanese government is not shy to intervene so catching a the yen at a good price is a rare opportunity. It’s sitting around 111-112 right now and I’ll see if it can break and go touch 110. Another long term trade I’m looking at is the GBP/USD. The pound has been bashed hard this year and is sitting at a 7 year low. It’s at a huge buy zone which will attract many traders. Once this Brexit drama gets settled, I can definitely see it bouncing back up.
I’m disappointed today by the mere fact that I was losing money with the right analysis due to patience, or the lack there of. My long NZD/JPY and NZD/USD was spot on. Hours before the market opened, around 6 a.m. I tried to long the New Zealand Dollar with no luck. The price would go up, then straight back down. Once NY session opened, I called it quits only to see price jump up. I need to learn to trust my analysis!!!
Also, just about finishing up my new computer set up. I shall post pictures on Monday. It’ll be a fresh week with a killer setup.
Today was a sloppy day, couldn’t wake up for London nor get some good trades in. Price is still affected by unwanted volatility which makes holding onto positions nerve wracking. Still unsure of direction in dollar for the continuing week, but will play it safe for now.
I had a good start longing USD/JPY today when things took an ugly turn and price started plummeting. Things are ugly for now, going to wait until market settles. I’m looking at a good opportunity to long NZD/JPY, perhaps during London.
Crap! Nothing is more annoying then taking early profit only to see price crash down more. I had a EUR/USD I left running on Friday, however, got cold feet on Sunday and closed my short before the big crash. Brexit drama brought GU and EU down during the new week open. Missed out on about 100 pips….
Didn’t really trade much as the juicy price action happened over London. Markets aren’t stable right now due to Brexit drama, so I’ll wait until everything dies out. GBP/USD got a nice bounce but I want to short it again. If only I held onto my short EUR/USD, I could’ve profited about 10% of my account…
That huge EUR/USD drop I called, but missed out on.
Interesting day for the dollar! Perhaps it was Fed member master talking, but the dollar had a horrible day today. Surprising price action because CPI numbers came out much better than expected, especially with the latest drop in oil. The euro and pound had good day today but I’m hoping for a bounce in dollar next week. We’ll see.
I lost a bit of pips today but not too much money thanks to risk management. Would’ve been a great day to short the dollar, but I just wasn’t comfortable shorting the dollar. I thought I was too late for the trend, but the dollar continued to go down all NY session. My mind is on computers right now and until I build it, my brain is in multitask mode. I’m holding onto a EU short over the weekend.
Image taken from Forexfactory. CPI was better than expected but dollar wasn’t too happy.
Today was an usually boring day. I woke up excited to trade London, but didn’t see any good trades. Markets weren’t moving and things just seemed slow… Went back to sleep and woke up for NY and the same thing happened. Price wasn’t moving in a nice one-way leg. It was up and down all over the place.
My trades were mostly scalps and lost a lot of profits trying to hold onto a trade for a long time. I didn’t have the patience to trade and called it a day early to research on building computers. I’m really excited to make my new workstation, stay tuned.
Made most of my money shorting yen pairs today, except I closed out a bit too early right before the huge drop mid NY session. It was pre FOMC and the markets came alive just as I excited my trades. The FOMC statement wasn’t anything new, global economy may affect U.S, inflation target not begin met 2%…the usual.
My mind wasn’t really focused in the markets, instead I was looking at building a new trading PC to build. I’m not tech savvy at all, but I’m always up for a DIY project challenge. I’m overdue for a pc upgrade, currently using a late 2008 Macbook pro. I’ll post pictures once I get everything completed. Can’t wait.
Today’s London and New York session were absolutely alive. A few pairs that crashed hard today against dollar was pound, euro, and the aussie dollar. The volatility was amazing and may have been frightening for the beginning traders. There were important GBP news but I was certainly not expecting the magnitude of volatility.
I was able to get in some awesome trades, but missed the big GBP/USD drop, and took my profits out early. Although I wish I could’ve ridden the wave while stacking positions, I’m just happy to end the day on a good note. Regardless, I’m happy to finally see some consistency in my account and I will soon be adding more money onto my account. My initial deposit won’t be anything big, but hopefully as it yields more fruits, I can slowly add more. Slow and steady does win the race.
Beautiful drop from GBP/USD. Wish I taken the short.