Trading Day 5.23 “Thank You Mr. President”

This morning was met with mixed emotions. Everything started off great openning my charts to see that the NZDUSD trade that hit initial targets the previous day, had achieved my secondary targets as well overnight! However, when I went to check my other pending orders (USDJPY & GBPJPY longs), I noticed that they were gone. Why? Well, because the market had blown right through them and some!

Although I’m purely a technical trader, I personally enjoy keeping up with the fundamental side of the market as well. 1) It increases my knowledge & allows me to be a better coach to the traders that I work wth on a daily basis. And 2) sometimes it does give me another clue that can be used to extract more profits out of the market. When I went to check on the events that caused the Yen to strengthen I saw that it was due to our present Mr. Trump and a statement he made about a future…or maybe I should say potentially future summit with the North Korean leader.

Later in my Live Trading Room I added to my losing ways by getting stopped out on yesterdays $AUDCAD short trade, but I did however, earn a few pips back on an intraday short on the $USDCAD.

All in all I ended the day in the red by about 60pips, but thanks to a strong start to the week, I still remain in positive territory.

It’s Wednesday! So if you haven’t done so already make sure you check out today’s episode of The Trading Coach Podcast! And please let me know what you thnk!

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Trader — Trading Coach — Host of The Trading Coach Podcast — Author for Entrepreneur & FX Trader Magazine — Proud Husband & Father — Sports Nerd & Coffee Addict