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Saturday 18 July 2009

Friday news was not much better than expected, so I decided to trade my 94.0 idea and have lost around 20 pips.

My general thought on that is all in all it's better to get lost with a map in your hand. My map says there is stagnation time for USD and it won't break 1.67 level on GU until DOW will advance 1500 more, what should not happen soon. In other hand there is some room for USD to gain a bit, however now the best idea is to trade bounces. Even on this trade here I done pretty well as I have saved about 20 pips by not entering on a market level just when Building Permits was released. [I must confess here that I have opened half position just before news to not miss a spike down if one happen, but I managed to close it soon after release to with about 0.1 pip loss].

So the map is the very first thing you need. Even if your map mislead you, you can still use it to get out of trouble by following way back.

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