Results: 10 trades, 3 wins, 7 losses. Down <42.3> (-2.3%)

The day started out looking promising, as several traders had reported excellent results from the overnight London session. But that never means that trend is necessarily going to follow through in the New York session. With no early new (Conference Board Consumer Confidence at 9:00 CST was the first thing on the calendar), I started out very conservatively. I did end up down 20 before the Trade Planning session. was over, but I jumped out of some slightly winning trades in EURUSD and USDJPY to offset some of that. By NY open, I was basically down 10. I took another 5 on a USDCAD trade during the news. But from there, everything I tried went south.

I wanted to make sure not to go over my weekly line in the sand (if end the day down <100> pips for the week, I won’t trade anymore for the rest of the week), because there are several big news events I want to be able to trade tomorrow. So when I got to <42>, I pulled the plug, and that’s where I ended the day.