First week 2013 trades review

January 6

I started trading this week after more than 2 weeks away from the markets. Those two weeks saw a sustained trend in the yen pairs which in hindsight looks like a good opportunity missed. But, as  I like to say, there is always another train on this journey. There will be more opportunities.

It took a few days for me to get into the swing of trading, and fortunately I kept the orders really small while I got familiar with the markets again. Trading is an intense activity, and like anything done intensively a period of no trading does affect the results very much. One gets out of touch. Just like a violinist or cellist who doesn’t play for a week or two finds their fingers have gone soft and they can’t get the same sound out of their instrument that they could earlier.

The week ends with the account down -16.6%, but that is not really reflective of my trading. I’ll ignore the large pip losses of the first couple of days – I was distracted a lot by social and family events and wasn’t paying much attention. By Friday I was feeling more confident and more ‘in the game’.  I made an error in the volatility after the NFP – anticipating the close of the candle – which led to a relatively large loss. I need to work out a way to check this tendency to get swayed by fast moving markets after big data events.Blog Wksht 2013Jan06

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