A GOOD WEEK... INDEED

Rule #1 : Cut your losses = -197 pips
Rule #2 : Ride your profit = 742 pips
Rule #3 : Keep Your Profit = 545 pips (weekly nett) Accuracy = 73.45%

It is indeed a good week as growth is at 99% by the time of this writing. Still there are 4 hours to go before New York close but I decided to call it a day as I have captured enough share for today and this week. Keeping myself in the market longer would probably increase the chances of making mistakes, so it is better to stay out.

NFP performance is the best today as I managed to scalp both ways of the movement. 5 minutes after the released and 10 minutes afterwards equals to 233 pips from the NFP alone, trading the GU and EU pairs.

One thing that I learned from this week trading is to trust my own analysis. Yeah there are plenty of analysis and probabilities out there, so you just have to be careful and selective. But what proves to be vital is your own analysis and decision on whether to go long or short base on the market condition. There is no way of being 100% accurate, but a 50% accuracy with splendid money management strategy would surely turn you into a profitable trader.

Winning trades and streek will build up confidence, but if you're not careful, you could be cocky with it. Hence, as a matured and discipline trader, you must stick to your own plan and rules. Trust your basic instinct...

And talking about economic data, it is not what the released data that matters, it is knowing the time of release and reading the market response accurately that counts.

Enjoy your weekend.