In the negative this past week. 4 trades were done on GBPUSD and USDCHF. They were conducted around 4am PST. Trading around 2300 PST has proven more profitable because of the time difference. The negative trades were also due to the volatility at those hours before the close on Friday. Trading earlier in the week will prove my strategy in the next couple of days.
No forex news was reviewed, and the trades were for around 20 pips. I utilized the buy stop strategy. Because of the volatility, having set up buy stops in both directions (buy/sell), I was unable to close one after the other was processed. The market was so volatile (or my range so small), that all the deals were processed and market fluctuated in both directions bringing me negative all around. Lessons learned the hard way. I'll review these more today, as well as spend a few minutes seeing what news may be coming out in the next two days.
As far as books go, Accounts Demystified is a great book, written by an English guy, referencing pounds the whole way through. Still, the understanding of American accounting is explained also. Therefore, it's a unique perspective I'm glad to have stumbled upon. It's not a very long book, so the plan is to finish it this coming week. That is all for now.
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