May 06

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Thursday 6th May 2010 – Election Day in the UK and the EUR falls again.

I must say, I was a little miffed when I closed my trading both yesterday and Tuesday to find that late European and US sessions yielded 200 odd pips that with hindsight of course, looked easy to grab a part of.

So this morning I was pleased to take something from the market during a nice 90 pip move on EURUSD and met my target for the day of 1%. If I am honest I was at 2% then I frittered away 1% on two further attempts when I placed positions to take the EUR short again when it didn’t.

I have not yet been in a move that moved so swiftly in my direction so was a little taken unawares and rapidly working out what to do with my stop-loss and limit orders. I tried to stay calm and moved my stop loss down to my entry point quite soon and moved my Limit Order to 2%. Within 20 mins I had closed out my position at 2% and +50pips. Pleased even though the market ran on for another jumpy 20pips or so.

I closed the session up 1% with 17pips and a little annoyed that today I didn’t close my session after the 1st trade. And with BT as my internet connection dropped out 6 times this morning – what gives!!

Tomorrow could mean a new Prime Minister for the UK, the market will do their thing, up or down, and the pundits will claim they know why……ho hum. Still with NFP tomorrow and the fact I’ll be up late to watch the TV Election Special, I’ll probably take a look at the markets mid morning then after NFP.

Got some of the EURUSD collapse

Got some of the EURUSD collapse

Good luck with your trading


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