It was a long and tough session today. Started at 9.23am and finished at 11.03am. The overall results for today, -7 pips off one sell and 2 buy trades.
My late start obviously didn’t help as there were announcements that affected the Cable and Euro at 9.30am and 10.00am respectively. So officially, there was no trading allowed from the point I started until 10.15am. During the 9.30am announcement the spread on the Cable fluctuated between 5, 10 and 20 pips. It also stayed on a 5 pip spread until 10.47am. But then I couldn’t really start trading as there was an announcement due at 10am, so the waiting for 40 minutes watching and not trading didn’t help me stay disciplined in being patient. Especially when the Cable moved down during the no trade period through 30 pips with reasonable momentum but because there was a 5 pip spread and I was still within the announcement no trade period I didn’t trade.
So everything points to lack of patience and in turn errors being made as a result, an all too familiar trait that requires immediate quashing – there done! Hindsight as always is a wonderful thing and tells me that I should not have traded at all today.
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