Got an early start this morning, checking the charts after I got up at 5:30 am.  I found almost everything in a range, and set range breakout orders to exercise the PATI Trading Assistant.  There’s still a rare bug there that I’m trying to find when it deletes the pending orders at the two minute mark.  It doesn’t happen often, so I need to have as many samples as I can get.

I got early hits on GBPUSD and EURUSD.  EURUSD closed the candle back inside range for <2.8>.  The GBPUSD moved up to a gain of +12 before pulling back.  I set a trail stop on it while I took the dog for a walk, and came back to find it had closed out for +2.4.  So I’m basically break even so far.

Later, I had range break outs on USDCAD, which ended up closing back inside for <4.6>, and AUDUSD, which, as of this moment, is still going.

FOMC is later today.  Popular theory has it that the session leading up to FOMC will be very quiet as everyone wants to wait.  Kim doesn’t put any stock in that, and it would seem to me, with the rate increase a foregone conclusion, that would be less this time.  But a lot of the overnight ranges were very tight – some as low as 20 pips. So, we’ll see.

Shortly after NYC open, the USDJPY triggered a break out pending long, and EURJPY triggered one short. Now holding AUDUSD short, USDJPY long, and EURJPY short. And at the close of the candle, all of them were back inside the range: USDJPY <4.3>, EURJPY <7.7>, and AUDUSD<4.5>.  Now down <24.3> at 8:47 CDT.

Oil news didn’t do anything definitive for the CADs, and I stood aside.  Shortly thereafter, both GBPJPY and GBPUSD broke to the high side, and I’m in them both. Watching.

The GBPUSD closed the candle back inside after being up as much as 7 pips.  Cost me <6.9> pips.  Currently down <31.2>, and still holdnig GBPJPY, which was also up 7, but is now down.  And now GBPJPY went to full stop for <12.1>, taking me down <43.3>. That was my first full stop loss this morning, but I have 7 CBIRs.  Even the small losses add up when they aren’t offset with some significant wins.

Waiting for FOMC now.

I still have a lot to learn about news trading, but it only comes by practice and experience.  Hesitated quite a bit, then took EURUSD long, and GBPUSD long a few minutes later.  Got nervous and punched out of them after a few minutes for +11.0 on GPBUSD and +13.6 for EURUSD.  That would have been pretty respectable if I had let it go, but I decided to try again.  All the pairs pulled back, and I jumped on GPBUSD (again), AUDUSD, and NZDUSD.  They would have been good trades earlier, but by now (near the end of the news candle), they were pretty well spent. Ended up after a couple minutes taking full stops on all of them – GBPUSD for <10.3>, AUDUSD for <10.2>, and NZDUSD for <10.2>.  So I ended up down more after the news than before.

Net at the end of the day: 14 trades, 3 winners, 11 losers for <49.4> (-2.17%).  Week to date <151.7>, month to date <476.8>.

But the good news is that I think I resolved my bug on deleting trades.  We’ll see.