Another day of no trades....

It’s bizarre, I sat down to trade today between 9.20am and 11.02am and found no opportunity to trade. I stopped at 10.27 because of an announcement due at 10.30am that would have an effect on the Swissy and in turn, possibly on the Cable and Euro, but continued to watch. At 10.30am on the dot, the spread on the Swissy increased to 5 pips and did no revert back to it’s normal 1 pip spread, well, at least not by the time I closed down the platform at 11.02am.

There were points during today’s session where I began to wonder if I had gone from getting into too many trades at the wrong time to not getting into any trades at the right times. But I quickly dismissed this thought, as you have to feel confident in a move, see all the criteria and only then get in – this did not happen today, therefore no trades undertaken and my capital is preserved.

If I step back and look at the bigger picture, we are in the holiday season, so it’s understandable that the markets are slow or behaving strangely. The market behaves strangely in normal times, so what has been experienced this week is nothing out of the ordinary.

I am extremely pleased with myself though for not risking trades when criteria were not present. There was a point today where the Cable in the 10am candle started moving up with reasonable momentum, mostly little 2 or 3 pip moves upwards, but back to back upward movements. But at the same time, the Swissy was moving upwards and the Euro was moving downwards – so no correlation and therefore no trade. I am proud to have stayed out during this time. Seasoned and experienced traders would probably laugh right now and say something like, “.....yeah and? That should be the norm...”, but I know that has not been the norm for me, I have jumped head first into trades that had no correlation, momentum or the slightest chance of going positive straight away, on many an occasion, so this is quite a big deal for me.

Time for me to go and get on with other work that I have to do – we’ll see what the market brings tomorrow.