Open trading account 
Interesting week we had with big developments in the market on the one hand ECB came out with it's QE programme details and on the other hand the US job report has confirmed once again the US labor market is on strong growth path, which may signal that the first rate hike can happen sooner rather than later. See here my previous blog post as why I was expecting NFP figures to beat market expectation: NFP - The State of US Labor Market
When it comes to the FED first rate hike we can play with 2 different market scenarios:
- If Fed removes "patience" from his forward quidance at next meting we can expect a Jun rate hike, which is 2 months away as per Yellen's previous comments.
- Second scenario is: if we look at the Fed funds rates we can tell that they project the first rate hike in autumn.
As per my previous recommandation staying long the dollar has played quite nicely. Another trade that is correlated with the broad based dollar strength was to be short Gold which again was one of my top recommandation as I was playing this theme from the $1300 level, see more here: Gold Down-Channel
Now coming back to my results they have been poorly and that's not because I haven't any good trading ideas but because my execution plan was poor. In trading is not enough to generate good trading ideas but you also got to have quite a good execution plan in order to succeed.
I was both short NZD/USD and long AUD/NZD but my execution plan was bad and as such instead of having a good trade I ended up with minor loss, however the trade that killed me was long EUR/JPY, entering too premature again. Now my balance is back a little bit above BE.
Best Regards,
Daytrader21
