Another week but finally some results...
Monday as usual, slow and no trades.
Tuesday GBPUSD triggered a trade in the morning, but the move seemed to slow down at a pivot level so Ben closed it manually which I copied faithfully:)
Making some progress on the discipline front I think...
Wednesday – finally a bit of excitement! Two setups triggered but both went against us after the release of US ADP Non-Farm Employment news, almost hitting stoploss levels. Luckily the Advanced GDP figures from the US was better than expected, suddenly turning both trades around. EURUSD hit the profit target, but USDCAD was slowing down according to Ben so he closed it manually ( which I quickly copied as I should:). End result of the two trades : 28 pips profit.
Thursday– no trades.
Friday was all about the NFP release. In the trading room Ben explained the approach, how to trade it also which pair he picked to set an order up. Unfortunately the price spiked the other direction so the order didn't get triggered.
Results: finally I took some profits (although modest) this week so now I'm only marginally in the red. In terms of trading approach August will be slightly different according to Ben as apparently many institutional traders are on holiday. So the focus in the trading room will be more on economical data and fundamentals as opposed to technicals.
A member of the trading room shared a link with the rest of us which was a Bloomberg article about the volatility drop in the FX markets. Again let's hope that we will see a bit of increase in volume after the summer...
Here is the link in case anyone interested: https://www.bloomberg.com/news/2014-07-28/global-currency-trading-falls-amid-volatility-drop-market-probe.html