(Click on the picture above to see a larger image)
Today the currencies remained range-bound, staying largely within the Buy and Sell levels defined by our model. Stops too were tight and as a result some positions were entered more than once. The morning began with signals in CHF and EUR followed by several in the JPY! Towards the end of the session, we saw further signals but none of the trades made it to their Target except the JPY!
Thirteen trades later, the net result was a loss of 33 pips. It all feels depressingly similar to previous weeks whereby there has been little movement until "big" economic release from the USA on Thursday. Should we stop trading until Thursday? No - small, controlled losses are part of the fabric of trading and by taking no risk, you are not going to make a return: You've gotta be in it to win it!
