Expecting Analysis?
I hope to do some analysis today, but will not have the time until at least a couple hours after 1200AM GMT. That is later than I would like, but that is what I am left with because of my schedule. I am also thinking of taking a day off as well, so I might not post again until tomorrow. The last 24 hours have been frustrating and I need to make sure my mind is right before I even think of trading. Sometimes the best trade is no trade at all. This also goes for those frustrating times that we all have trading. I haven’t taken much in the way of losses, very minimal, but the opportunities haven’t gone my way either. I missed the move of the Euro last night by only a few minutes, meaning I basically got stopped out, just before the short correction turned back into the long I was waiting for. My stop wasn’t set right, so that is my fault, but nonetheless I wasn’t happy about it. So to avoid being emotional, I will re-evaluate things later today and if I’m calm and cool, will do some analysis and get ready for the setup. If I don’t have time, or am not in a good mood, I just won’t trade. It’s really simple right? Well hopefully it is. At the very least I’ll be back tomorrow to get ready for the next day. I’m not sure what fundamentals there are in the next day other than Bernanke continuing to speak to Congress, but that in itself gives me plenty of reason to be cautious and sit aside.
As a note, if you do stop by and really want me to do analysis regardless of whether I plan to trade, please drop a comment. If I get enough feedback, I WILL make sure to get that out there for my readers.
Good Trading!
