ForexSpirit

Ah, the trials and tribulations of being a trader.

So the good news is that my first trade from yesterday was closed out as expected during the Asian session at breakeven.

The less encouraging news is that my first trade from today has ended up enduring the same fate. In other words I got the trend direction for the rest of the day wrong and it has been underwater since.

I managed to close out three other smash and grab trades during the day, all counter trend trades, while I have a second trade that remains open as it did not reach its profit target.

There is the potential for all sorts of volatility early next week with the expected news on what the next steps in the US rescue plan are. I don’t have any strong convictions as to what impact the news might have on EUR/USD, I just know that we’re in a bit of dollar bull trend so far this year and are still near the bottom of that trend. As long as we remain below 1.3000 convincingly I’m reluctant to cut my two open trades early.

I have my stop losses in place for both of them, so I’m going to just wait and see how things pan out on Sunday and Monday.

Total daily pips: 31