Friday, October 07, 2011

Whoa there! It's Non-Farm Payroll today.

This is not your usual Maths equation....

2 rambunctious but generally well-behaved 10 year old boys cooped up in a 600 square foot apartment on a rainy day for 4 hours + 1 30-minute car ride = 1 slightly frazzled, wanna-be forex trader mom

It's days like this that Something's Got To Give...
Just to let you know, the Beer-Soak for the Lost-Pips from yesterday's trade did not work.

I know, because, after another day of being away from the charts doing all my "other" real world stuff; I went ahead to look for trades today. Yes, I am aware that today is Non-Farm Payroll Friday.

I told myself a couple months ago that I wouldn't trade this news report. But hey, I had a little red trading devil by my side just stabbing me with his pitch-fork. It was too hard to  resist the temptation.

So let's see what the mighty charts divined:

Whoa! You say, it looked like it was heading away from the USD after Non-Farm Payroll release. Logically that move made sense. So what happened right after London closed. I really don't know, it looked like the USD went back to becoming flavor of the day. That big move was about 6 1minute candles doing 78pips down.

I had gone to bed lamenting my small 20pip nett loss for the day but I was more lamenting the fact that I had crazily traded it 15pip up. And yet I still managed to end the day with nett loss 20pips. 

After 20 minutes of tossing and turning, I decided to have another quick peek. That last move down did bring my account back up to where I had started today. (Phew...small Sigh of relief) But really that is not how I am supposed to trade.

Besides I am supposed to be working on testing 300 trades before the end of this month using a single strategy. I had better get that going.

And that's all she wrote!

How did your trading day go?