Saturday, December 8, 2007

Some weeks are pointless. (NFP and other uselessness.)

So we had several interesting announcements this past week. To be honest, I should have known that last week was going to be pretty quiet.

With a whole list of interest rate announcements, there was potential. But, with everyone talking about the U.S. economy, the Non-Farm Payrolls report was bound to be the main focus.

Canada did a surprise rate cut, and I did get into that for a quick scalp. Nothing to get overly excited about, but it made some pips.

I wasn't around for the BoE rate decision, and to be honest, that's probably a good thing in retrospect. It turned out to be pretty whippy, as it was priced in ahead of time. (The belief is that after Canada cut, most people saw a greater chance of the UK doing it as well. They were correct.)

Friday finally came. Another quick scalp, this time in EUR/USD. Literally nothing worth noting again. I actually made my pips shorting this pair. Which to be honest, was against the final move, so I feel somewhat lucky.

As far as Non-Farm Payroll is concerned, what a load of crap. The numbers are revised every month, it's common knowledge that they are "cooked" anyways, and it's a dangerous time to be in the market in general. The entire week before it normally sucks.

I think I will stay away from trading these weeks. I guess if the right set up comes along, I could enter a trade a few days before, but to be honest, a lot of these weeks turn out like this past one did. Pointless.

Oh well, shit happens.

The point is that it's alright not to trade. I was up only .15% this week. Like I said....nothing major, but it beats the hell out of being down I suppose.


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