Firstly, let me wish you all a good morning and say that I hope you have all had a good week and have an even better weekend. This is just a courtesy update to let everyone know my thoughts for the day ahead and what happened last night. So we have one trade that I opened last night, a buy on the USDCHF. I opened it as I felt it was at a level which shows good potential for further rises, and had expected at least 1 of the 5 FOMC speakers last night to give some further signal on Monetary policy that would reinforce the idea that the FED plans to start moving towards normalization.
Unfortunately this did not happen, and the markets seem to not be fond of this fact, with the result that the USD has lost some ground and our trade is currently in the red. I would have liked it to be green at this point (wouldn’t we all), but nobody is perfect and I am entitled to make errors in judgement. With that said, I am not overly concerned at this point, since we are still very much in profit thus far this week and I am confident that a combination of soft Swiss data (inflation) and firm US data (retail sales, sentiment) will turn this trade profitable before the day is over.
Ideally I would like to make one or more new trades as the day progress but as it is the weekend here and I have not spent much time with the family this last week, I will be busy and may not get the chance. As many of you know, I do not open just for the sake of opening. I only open when I feel there is opportunity and this aspect of my strategy will never change.
There are a few more nice things I noticed in the last day. The first is that the volume of pointless questions on my wall has decreased, which meant it was easier to reply to my copiers and followers who had genuine questions. I also realised that there are now more than 700 brave people copying me, which actually makes me feel good about myself and makes me feel that I am doing something right.
The community on this site continues to grow, and I thank you all for your very nice comments and compliments and for participating in the forums. I would especially like to thank all of those who are participating and helping others and making it a nice place to be, I genuinely could not do it without their help. I would like to be involved more myself, but I honestly do not have the time. I don’t say this to try to act important, but I am really busy with life and work and I have to always look after my responsibilities. Hopefully when things are less busy, I will have more time to interact with all you.
On a darker note, it is Friday the 13th so let us hope that none of us have any bad luck 🙂
Wish us all a great day,