Hi, I explained why I was not trading this week due to the combination of COVID, Brexit & US elections. Hopefully, you now understand why!
I recorded a short video yesterday when many pairs, including some of the majors, spiked over a 100 pips in both directions. In the process, it will have turned lots of potentially winning trades into losers in minutes.
As we have seen the 3rd option I spoke about, no clear winner in the US election has a lot to do with things and then on top of that is all the red flag news this week.
The GBP rate statement has just been announced, no surprises there, but they have agreed to raise the amount of fake money to buy more of their own debt! As I write the Governor of the Bank of England has not held his press conference, that could cause spikes on the GBP and today its the FOMC statement and potentially more volatile press conference afterwards.
To finish off a perfect week its NFP tomorrow which we never trade as its forex at its craziest in normal times and there is nothing normal about what we are living through right now!
My achievement of the week? I did not lose any money! Being successful as a trader is not all about winning, it’s about knowing when to walk away, protect your account and get back in when things are more settled. Enjoy your weekend, I will be back Sunday with my plan for next week.
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