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Weekly Summary!! 24 May 2021

There's nothing much to report from last week. No trades hit. I did have a slight amendment to my planned trades, setting up an additional Aussie trade, Wage price index. (WPI) which I've been watching for a while and have seen some reactions recently. I always trade on the conservative side, and the deviation I expected was very unlikely to hit; however, it was worth setting up for and watching. I decided against setting up for the German PMI's. This was once a great report that used to react brilliantly, but after further analysis, I decided the recent results were too inconsistent. I couldn't say for sure that the outcome was predictable. On this occasion, it did work well. Hindsight is a wonderful thing. It's easy to look back and say I wish I had traded that; however, this is how I have saved myself from many losses in the past. It's better to miss a trade that worked than take a risk and lose. You need to be confident of the outcome if you're going to risk your hard-earned cash. Choose your trades carefully.

This week I will pick just three trades to put my money on. Here's the list of which ones: -

25/05/2021 13:00 Hungarian Interest Rate
See the history here:

26/05/2021 03:00 New Zealand Official Cash Rate
See the history here:

26/05/2021 15:30 US Crude Oil Inventories
See the history here:

I'm looking for new information in real-time. As the markets change, so will my planned trades. If you don't see a trading plan posted before the trade, I'll let you know why I decided not to trade it, vice versa; if new opportunities come up, I'll post my plan as far in advance as possible, so keep watching this space for updates. I work in real-time so do my plans.

Please feel free to ask questions.
Good luck this week.
James Thatcher
 
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