Greetings Everyone!
I am freshly back from the Las Vegas Forex and Options Expo after 4 days, and it was a great Show as always!
Ironically, as the Presentations began Sunday afternoon, we were already seeing strong “Sentiment” in terms of Dollar Weakness on the way with Greenspan’s commentary Sunday.
IntraDay Markets were overextended and overbought, so Corrective Behavior in my personal view was possibly on the way.
Well… that idea was simply blown out of the water!
Crude, Cable, Gold, all the Majors and Commodity Currencies simply continued to rally dramatically, and my Limit Orders for Cable and Crude shorts simply never materialized.
This is always acceptable for me.
Trading is more about planning and having clear thoughts for a specific Position.
Whether it executes is almost an “afterthought”, if you will.
This is due to my risk, thought process, stop-loss, and potential exiting areas already being built-in and in place.
In this way, we have a “Complete” Plan to work with, and it will either be executed and follow its own course, or like in these cases, will simply be negated and become invalid.
No Gains here… but much more importantly… NO Losses either!
Trading is always about controlling your Risk Exposure and I keep this Area as my Top Priority at all times… always a thought to be mindful of!
We will jump back into the Markets tomorrow as I regain my bearings from the Expo… as “Information Overload” is always a considerations at these types of events.
Have a fine Evening, and I will see you tomorrow!
