quick thought

EUR/USD is rallying strongly. Cable is at it’s highest level in some 26-years. Previously, times of great volatility or break-outs, such as the ones we are experiencing today, would have suckered me into the action. ‘I am a trader, and if I do not trade now, then when?’, I would say to myself. I nearly always lost money on these occasions, usually betting on reversals that never materialised. That I haven’t traded today is an encouraging sign with respect to the bigger, broader outlook.


2 responses to “quick thought

  1. Agreed there are certainly times it is better to sit on the sidelines. I have been trading for many years and I still struggle with that.

    As for the cable and Euro I really like when we break into new territory. I am currently long Euro and looking for 1.4000 by the end of the year (as a minimum objective). I enjoy the blog, good luck.

  2. Thanks for the kind words Banker. It certainly looks like the USD is in the process of selling off. I’m averse to buying or selling at the extremes but there is a good logic to the argument. All the best amigo.

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