Profit: -$20.67 Total: $502.68
NFP report came out rather disappointing, 151K vs 189K estimated. Although the headline data was really off, we had a increase in average weekly hours, manufacturing payroll, and unemployment rate. The dollar took his news surprisingly well and finally gave a bounce everyone was looking for. I’m sure the EUR/USD and GBP/USD shorts had a great day today.
Looking back at my progress, I’m glad I transformed into a more mature trader. If this was a couple months ago, I would’ve spammed the sell button on the dollar just from the headline news. I was naive and thought I was out smarting the market. I know better now to wait until the market digests the news and then make moves. Although today was a negative day, I’m happy with the results. I actually performed really well with the volatility of the NFP, it was the lack of volatility that gave my P/L a stink. London was awfully quite during pre-NFP and NY afternoon was horrid as well. My next goal as a trader would be to hone my patience and practice discipline. I shall not be eager to trade during low volume and let my winners run.
Look what came in the mail. I was always wary of books about trading but this had such great reviews from traders I know, I thought I give it a read.