Late update…

On Friday, I was stopped out on two positions short USD/CHF for -42 pips. I was also stopped out of short USD/CAD for -65 pips.  That was a total loss of 107 pips. This was a tough week for my strategy. I will be reopening these positions later on today and will update this blog after that. I will also look at my total pips for that month up to this point. If you have been reading along then you are well aware that I am behind on my monthly goal of 500 pips. However, that is only designed to be an average number. I expect to fall below and to rise above it from time to time. Let’s see how things go in the weeks and months ahead.

My strategy is a trend trading system, which means I win big during trends and limit my losses during a ranging market which is what this week has been. Ranging markets exist when there is no clear up or down trend and the market simply moves up and down within a tight range.

This week I will be looking to take advantage of any breakouts that may occur. Continue reading to see what happens in the week ahead.

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