Weekly Wrap-Up 3d Feb 08

Posted by Nick 4 Comments

Wrap-up of all the trades on GBP/JPY for the week starting 27th of January 2008. I go through 4 trades saying why I would or would not have taken the trades.

Tags: forex, forex analysis, forex profit, forex trading, forex trading education, free forex education, free forex signals, gbp/jpy, trade update, weekly analysis

James

Hey Nick,

I actually got in the 210.50 trade about 30 pips earlier since my line was a little different… but came out with fewer pips. If I remember right that trade happened in early Asian session and I’ve been a little paranoid about expecting “good” trades that early in the week, but I’ve seen a few times now (this time included) that good trades can happen even during the first few hours of the first Asian session.

I know your thoughts on Fridays, and waiting for a couple candles before trading in the beginning of the week, but do you generally consider the first Asian session to be safe, or are you cautious about it?

Something I wanna add is that both those big drops this week happened right at news releases. The first one, as far as I understand it, was due to some unscheduled report of some big write-down that was reported towards the end of the US trading day (like 3-4pm). I don’t really know the details on it, though. The second one was tied with NFP news and a couple others that came out at the same time. So in addition to your explanation of why they were untradable, I also considered them untradable since they were linked with news — do you generally feel the same and avoid news-based line breaks, or do you trade them anyway as long as the setup is good?
Aaron

Hey Nick

I am new on the list, but am following yours trades and learning, keep it up

Thanks
Aaron
willj

hey Nick, just wanted to say thanks for the blog, i had a great week, 3 trades 188 pips.
Wade

Nick, thanks for the wrapup