ForexSpirit

Two nice trades executed over the last two days; yesterday with the release of the US PPI and today’s CPI.  Both Q3 trades.  I entered yesterday after the news release, while today I preempted the news release.  US data was not strong on both counts, confirming the Fed’s decision last week not to raise rates.

The first line of the trade results was a nice trade Monday that worked out well too.  There was a slight error in choosing the correct number of lots for my last entry, which is why the one trade needed two entries (1 and 8 lots to bring it to the correct 9 lots).

Time for a few comments on the first few chapters of ‘Entries & Exits’ that I’ve read so far.

From chapter 1 (Sheri):

• Good record keeping is a definite plus
• Markets change and traders need to change with them
• Don’t ignore your instincts!

Chapter 2 (Fred):

• Fred is a systematic trader.  This reminded me of the judgmental versus non judgmental section in DiNapoli’s book.

Chapter 3 (Andrea)

• Keep your charts simple and uncluttered
• Be aware of what the big/smart money is doing (hedge funds, banks, etc.)