Commentary: Market Chopfest

Hey everyone! Happy Tuesday to you all.

The market is pretty unstable at the moment, I’m sure you’ve all noticed. I decided early on that it wasn’t worth me risking capital to trade today. We shouldn’t chase every pip, sometimes it can cause regrets. In my experience, those kinds of regrets can sting really badly. Yowch. You have to know when to take chances and when not to. It’s all about money management, remember? 🙂

There were a few pairs that did move like GBP/JPY, AUD/USD, EUR/GBP to name a few, but not significantly or with much stability. It was either a steep climb or not an unsteady descent. Yeah, so like I said…I didn’t trade today. Everyday, I have my mind ready and rearing to trade but at times, these things don’t perform the way we would want them to so it’s best to stay out and hold unto your money. I am not a scalper, after all. Grab a few pips here, a few pips there. That kind of trading is not  my cup of tea, it’s too fickle and inconsistent for my liking.

Yesterday, I predicted that the market would stagnate and indeed it did. It’s the way of Forex market, it is expected that after a huge move, that the next few days things may cool off a bit. Here’s to hoping it doesn’t last for the entire week!

Til tomorrow…

Forexgal_1.

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