Never risk holding your position during macro news!

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EUR/USD 1.1384 SHORT

There was upcoming ADP news so I had to quit the position prematurely. I quit 2 minutes before the release with +5.5 pip profit.

EUR/USD 1.1405 SHORT

This level got tested 2 pips sooner and made 10 pip reaction – because of this I decided not to trade it anymore. 2nd test of the level was during ISM Non-Manufacturing PMI news (even if I decided to take the trade despite the 1st test, this would have prevented me from entering it)

AUD/USD 0.7580 LONG

this level got also tested 2 pips sooner so I discarded it. If I took 2nd test it would have been a profit.

USD/CAD 1.2971 SHORT

This level got tested 3 pips sooner and made a significant reaction. For this reason I discarded this level.

USD/JPY 113.44 SHORT

I took a full +10 pip profit there.

USD/JPY 113.05 LONG

I had to quit this trade prematurely because of red macro news (ISM PMI). I quit 2 minutes before the news release with +4.3 pip profit.

Summary

Today my trading required a bit of management – I had to discard 3 levels today because of early “test” and I also had to quit 2 trades prematurely because of macro news. Still I was able to get +19.8 pip profit today which is pretty nice!

-Dale

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Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

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