The Lcoal's Take: Mid-Day Update

Good afternoon,

Well, forex was rocking today. Count them: 3 moves today. That is about 3 times the usual!!

We hit a bunch of double fall line trades today as the markets topped out, came off their highs and then resume to new highs.

The EUR and GBP both took a break in the middle of the day and the dollar strengthened slightly - it was a Buffalo Bounce/slash equity trade for a little while as well.

Again, not the cleanest trade as the dollar is performing differently to cross pairs depending on the underlying fundamental for each specific cross pair.

It takes:

• a trading plan
• money management
• patience to wait for the opportunity
  
• and then discipline to implement the plan

With these steps and action plan in place, it provides the tools to be a successful trader/investor. Without these, I doubt that luck will be profitable over the long term.

Have a great day and Be Environmentally Cool with Locals Have More Fun apparel