Here I am at the start of a new month and new season, and back after a summer hiatus with a new attitude and a new determination.  Let’s see how it goes.

My impression of the market as I come to the charts is that there were some strong moves overnight, but, in my experience, those often degenerate into sideways chop for a while at this time of day.  So I’m being a little cautious and not jumping into anything just yet.  There is, however, some GBP news coming up in a little bit (7:15 AM CDT).  I’ll try to be prepared if that moves the markets.

Being hearings, (Inflation Report Hearings) rather than a data release, the GBP news didn’t really move anything.  I entered a pending on a couple pairs that seemed to be moving consistently – USDCAD and EURJPY.  They hit, but the EURJPY stopped out after a couple candles for <10.2>.  After seeing that the GBP wasn’t really moving on news, I entered a YL pending on GBPUSD and it hit, but was quickly stopped out for <10.0>  So I’m down 20 45 minutes before the open.

As we come up toward the NYC open, USDCAD is still my only active trade.  It’s doing well. It’s been up slightly over 25 pips, and I have a 1:1 return locked.  Trying to decide whether to take the profit at 1.32000 (if it gets there), or let it run.  Kim just mentioned on twitter that they’re looking for it to print ’00, then accelerate.  I’ve got a 15 pip trail stop on it now.  I think I will tighten that up as it gets close to ’00.

I just opened a short on EURUSD on a YL pullback.

It’s now 9:15 CDT, and I have had a bunch of trades hit, and then some other stuff happened.  NZDUSD hit on a YL pending, EURJPY hit on a pending for a continuation re-entry, AUDJPY hit on a pending RBO, GBPJPY hit on a pending RBO.  All of them were looking good for a while, and I was up, at one point, about 25 pips net.  But then all hell broke loose.  I took NZDUSD off for <3.1> because it wasn’t going anywhere, and I thought I might need the space on my margin. I pulled the stop on EURJPY up to breakeven.  Then the yens spiked, EURJPY hit the protective stop with some slippage for <0.1>, AUDJPY closed back inside and had huge slippage. It cost me <14.3>.

I took a continuation re-entry on GBPUSD, and it got stopped out for <10.3>.  I locked the EURUSD at a 1:1 risk:reward ratio, and it just pulled back and hit that for +8.2. So I’m currently down net <40.6> and flat.  Looking to regroup.

Tried pullback entries on USDJPY and USCAD.  Both were stopped out for <10.0> and <10.6> respectively.  Now down <59.1>, and looking for re-entries.

Well, that did not end well for my first day back!  I took a couple more trades, but by this hour, everything available was either RBO’s or reentry trades far away from the trigger point.  I got one more YL on EURUSD, and then an RBO when GBPJPY broke out of the top of it’s range, rumored to be on news about BRexit plans, but with a lot of volatility.  Both were stopped out.

I ended the day down <79.1> pips.  I think I need to monitor the results when I try to “beat a dead horse” to recover late in the session from a losing start, especially a loss after I had been up.  Those do not usually work well.  Maybe I should reconsider whether that’s a profitable course.

Anyway, it’s just one day.  Back tomorrow.