Monday, August 15, 2005

EUR/USD 8/15/05

10:30 am- 1 Trade Lost

3 lots short at 2352; Got stopped out at 2368. I was very close to my 1st target and I was very tempted to close my positions because it struggled to get there. However, I wanted to practice discipline with my trading plan so I told myself that I would either let it hit my target or hit my stop. Unfortunately, today it hit my stop, haha. Today's results: -48 pips. I think Mondays hate me :)

7:45 am- Analysis

Good morning everyone! Hope you all had a great weekend. The US TIC release is today at 9am EDT. I might wait until after that comes out before I trade. As you can see, the Euro made about a 45 pip range last night and is right at it's low for the EU session. If the Euro breaks below the low before the news comes out, I still might not enter because I don't know what is going to happen after the news release. If I see a strong movement before the news however, I will enter and get out just before the release. I'll keep posting on the message board throughout the day and I'll "try" to post my trades live. Have a great day everyone and happy trading!

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