Open trading account 
I decided to trade the NFP release yesterday
I had a plan to make some pips:
I had set up a couple of buy stops in Eur crosses in case the number dissapointed
and i had set up a couple of sell stops too in case of a good number
My plan was that the sell positions would be opened in case of a good number and vice versa
I had set the buy/sell stops around 20-30 pips from market prices just before release
I had provided all positions with tight stops
What happened was huge market volatility at the time of release because of the huge number: 280K
All my five positions were triggered because of the swings in price at that moment
and my stops were hit and slippage applied too
I was left with two open positions and down nearly 100K!
How is that for volatility, I had not expected this...
I decided that I had to do something, so I shorted all Eur crosses after the release
I made just a few pips, and the prices seemed to stall on the way down
So I switched positions and went long all Euro crosses
It took me almost until market close - when Euro recovered/bounced back a bit
to make a few pips and get close to the balance that I had before the release
It was a challenging day and I lost 18K but I also gained 9 points in the contest on demo mirroring
because I had been so active and had opened 5 shorts and then 5 longs
in a desperate attempt to save the day
The whole experience took it out of me a bit
I know that I will not be using buy/sell stops/limits around releases anymore -- way too dangerous
The weekend is now a welcome resting period after a hectic week
I know that I am doing pretty well at the moment, but i will have to do more in the coming weeks
so I will be looking for opportunities in the market
But I also will be careful not to risk it all
I have been in even better positions before, and have still blown out my account in the last few days
just because I got scared I would be overtaken in the competition
or felt that I had to trade because I was scared to miss a trade
--- this is psychology at work --
I am trying to keep my head head straight this month, and will do the best I can
my goal, of course is to win, but I will not risk all to do so,
I will try to end the competition with a profit anyway
Have a good weekend all,
and GL
I had a plan to make some pips:
I had set up a couple of buy stops in Eur crosses in case the number dissapointed
and i had set up a couple of sell stops too in case of a good number
My plan was that the sell positions would be opened in case of a good number and vice versa
I had set the buy/sell stops around 20-30 pips from market prices just before release
I had provided all positions with tight stops
What happened was huge market volatility at the time of release because of the huge number: 280K
All my five positions were triggered because of the swings in price at that moment
and my stops were hit and slippage applied too
I was left with two open positions and down nearly 100K!
How is that for volatility, I had not expected this...
I decided that I had to do something, so I shorted all Eur crosses after the release
I made just a few pips, and the prices seemed to stall on the way down
So I switched positions and went long all Euro crosses
It took me almost until market close - when Euro recovered/bounced back a bit
to make a few pips and get close to the balance that I had before the release
It was a challenging day and I lost 18K but I also gained 9 points in the contest on demo mirroring
because I had been so active and had opened 5 shorts and then 5 longs
in a desperate attempt to save the day
The whole experience took it out of me a bit
I know that I will not be using buy/sell stops/limits around releases anymore -- way too dangerous
The weekend is now a welcome resting period after a hectic week
I know that I am doing pretty well at the moment, but i will have to do more in the coming weeks
so I will be looking for opportunities in the market
But I also will be careful not to risk it all
I have been in even better positions before, and have still blown out my account in the last few days
just because I got scared I would be overtaken in the competition
or felt that I had to trade because I was scared to miss a trade
--- this is psychology at work --
I am trying to keep my head head straight this month, and will do the best I can
my goal, of course is to win, but I will not risk all to do so,
I will try to end the competition with a profit anyway
Have a good weekend all,
and GL
