NFP today. 3 trades. One long, two short. Total = +52 pips. Started watching the market at 6:00am. Price had dropped roughly 100 pips during the London session.
Trade #1- Entered the market long after price moved above the EMA 20. Entered at 1.0963. Exited at 1.0969. Net result 6 pips. I entered conservatively. There was a reversal bar at 5:55am. I began watching the market at 6 and didn't want want to rush into a trade. In the "woulda, coulda, shoulda" world, that reversal bar would have been a good entry point. I exited after the bear bar at 7:10am.
Trade #2- So I entered short as the NFP was being released. In hindsight, I'm not sure if that was a smart move considering the market could easily of reversed. But the numbers were strong and I entered. I entered at 1.0915. I added to my position at 1.0883. I exited both positions at 1.0876. Net result= +46 pips. I exited as price was retesting the low. Being sim, I try to take it as seriously as possible, and was asking myself if this was a live account, with live money, would I of still entered the market like I did?
Trade #3- After I exited on trade #2, price proceeded to head lower. Wanting to continue to the catch the downward trend I entered short. Entry was at 1.0861. Unfortunately, after my entry bar price reversed up. The trade went against me almost 25 pips before heading back down. I added to my position at 1.0868 bring my average position to 1.08645. I exited at 1.0865 for a five dollar loss.
No trades on Monday as I'll be traveling back home to Dallas. I hope everybody has a good weekend.