Hello everyone,
The first thing I do in the morning when I sit at my trading desk is to check my economic calendar in order to see what’s scheduled for the day. I am sure you have already noticed that this is probably the busiest week of the month as far as fundamental announcement goes: AUD Interest Rates, CAD Interest Rates, GBP Interest Rates, EUR Interest Rates, NZD Interest Rates, US Non Farm Payrolls, etc. It’s extremely difficult to trade weeks like this one because any possible setup from a Technical Analysis point of view can easily be spoilt by the news.
As far as I am concerned, it is utterly impossible to trade technicals in any sensible manner with such a news feast cascading upon us every few hours because you never know when the next 100-pip price spike might pop up out of the blue. What scares me the most is that we have 5 interest releases out of the 8 major currencies packed up within a three-day time span. As you know interest rates are the main driving force moving the Forex markets and an unexpected outcome from any rates announcement could easily become a trend-wrecker.
Nah, trading through this week is certainly not wise in my opinion. Sorry guys, but I am too fond of my money to gamble it away under such market conditions. Once the rates parade’s out of the way I will resume trading, but for the time being I am taking cover and sit it out.
Cheers,
-HECTOR-
6 December, 12:34 am
Chicken lol
6 December, 12:36 am
Haha my next project for a forex blog: http://www.chickentrader.com :)
HECTOR
6 December, 12:37 am
ACK it’s actually taken HAHAHAHAHAHAH!!!!
HECTOR
6 December, 3:20 am
lol, I’ve been thinking the exact same thing. I’m not even thinking about placing a trade for the rest of this week…to much goin on for my taste.
6 December, 6:59 am
Echo. I myself is being a chicken this week as well. LOL
6 December, 8:59 am
don’t forget the FOMC, US rates next Tuesday.
6 December, 10:59 am
Hehehe seems like we’re all a bunch of sissies :)
-HECTOR-
6 December, 11:09 am
how about http://www.bunchofsissies.com LOL
nice thought guys intrate week its just bad for our pocket
6 December, 10:03 pm
I’m going to take a big chance and trade 1 micro lot thru the interest rates. I need some action lol