Discipline and the big picture
Margin Balance : $1,867.25
1nzd/usd + 1 usd/jpy (long)+ 1 eur/usd (short)
Available Position: $373,188.00
Lost my discipline for a bit on Friday I went long eur/usd just because bonds started moving up slightly, too much too soon, I forgot to think big picture because bonds have dropped significantly the past few days that Friday's move was a drop in the bucket. I averaged that trade down another lot and today a finally got an exit when the eur/usd rallied into the fed meeting (as if they were not going to raise). Short after the announcement, the market did their usual two step that can be expected to occur on days of the fed meeting. Shortly after announcement of the rate hike to 4.50% I took a short position in eur/usd on anticipation of future money flows, longer term yields closed down however, so I expect a short term rally in the eur/usd against me in which case I will average the position down.
I'm also excited because tomorrow starts the forex.com trading competition. It will be interesting to see how I will trade now that there is pressure to produce returns within a certain timeframe. I should now be extra cautious not to let my discipline fade.
1nzd/usd + 1 usd/jpy (long)+ 1 eur/usd (short)
Available Position: $373,188.00
Lost my discipline for a bit on Friday I went long eur/usd just because bonds started moving up slightly, too much too soon, I forgot to think big picture because bonds have dropped significantly the past few days that Friday's move was a drop in the bucket. I averaged that trade down another lot and today a finally got an exit when the eur/usd rallied into the fed meeting (as if they were not going to raise). Short after the announcement, the market did their usual two step that can be expected to occur on days of the fed meeting. Shortly after announcement of the rate hike to 4.50% I took a short position in eur/usd on anticipation of future money flows, longer term yields closed down however, so I expect a short term rally in the eur/usd against me in which case I will average the position down.
I'm also excited because tomorrow starts the forex.com trading competition. It will be interesting to see how I will trade now that there is pressure to produce returns within a certain timeframe. I should now be extra cautious not to let my discipline fade.

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