Maturity, and the longer time frame.

Hi guys -

Well, I am up about 4% this week, and only somewhat happy about it.

Today, on Friday, I made a couple of short-term trades that didn't go so well. It was yet another example to me that longer time frames are BY FAR the way to go.

I can only explain the need to trade news as simply the need to trade. Period. Is it greed? Boredom? Stupidity? Maybe all three.

My shit broker, Interbank FX, decided to widen the spreads 15 minutes AFTER the release on the USD/JPY to 8 pips. (Can you say, "Oh my God! All of our customers are on the other side of the trade, and we are about to get it handed to us!"?)

Oh, and they did it at 7:23 a.m. EST as well, because we all know what a volitle time that can be.

Anyways, the point is this: Why bother going for just a handful of pips? Why bother possibly being psyched out by the asshole broker?

When you are trading on the 4 hour, or even daily, you are literally "above" the noise.

My advice: Trade smaller sizes, and longer time frames. When you have a stop loss that is wide enough to drive a friggin' bus through, the dealing desks games are not very likely to effect you.

Shame on you idiot. That was a minor breakdown in maturity today. (This was directed at myself. lol)

Have a good weekend, and you gotta love the AUD/USD daily pinbar this week!