its been helluva week. I did not enter much trade earlier this week as i didnt see much opportunity to my knowledge. But first friday of the month, which was yday, where u.s unemployment rate data and non-farm payroll report will be out.
This is the challenging part. Some traders are good at trading at no-news hrs, wher price is trending and they could analyse better using their technical analysis knowledge. For a news nite, thats wher the breakout traders gather. Im still lookin for the one that suits me. After yday, trading on news was seriously very SCARY! I was waitin for the news, before that i wld only do trades that i will close before the annoucement. When news out on bad payroll and highest unemployment rate in u.s, the eur/usd if u were watching, rise rapidly about ten pips, and then in a split second it goes down 40 pips, and continue falling to a new low since 3 sep.
Base usd annoucement suppose to be rise for eur/usd, becuz of weaker counter currency (on the right), and vice versa. If u were to follow the data FIRST, u wld hv been stop out so fast before u fuckin’ realise it! I was!! But was on micro lot. I took back my loss on retracement buying the lows, separating three micro lots in three different trades. I find it more flexible like tis tho.
But u nv noe, if the price wld put further down. But perhaps thers been buyer like tis buying at lows, result in an hr plus time, rapid rise of the eur/usd.. The actual reaction prior to the data! I made losses and profits last nite, but still profitable in overall, but i wasnt delight. With the high no. Of trades and scalping, and entering on retracement (which i m nt so good at yet), i find that i won the battle unlike my previous post - which was more gloriously. I wouldnt be so lucky next time. Its like fightin battle with ur enemy so hard but u won due to his childhood injury reacted or he fell into the drain. Put it better, u set a trap for him cuz actual fact u cant win him so he fell in and u win..
I have drafted me and bottle a chart, on a weekly and per mth basis, using strict money management and timeline needed to gain back our account, calculatin in even losses. Therefore, we need to follow it closely. But tings wldnt be that smooth sailing yea.. At least we work out as a guideline to fight back wad was once belong to us! And we will do it!! Ahh woo ahh woo!!