Trading Day 10/31/06

Wow ... what an awesome day. Immediately on the news that U.S. consumer confidence had dipped unexpectedly, everything roared nearly 100 pips up in what seemed like only a nanosecond.

I had picked up 24 pips before the news and then exited not wanting to get hit by a 'Rogue News Wave.' In retrospect, I would have been better off placing a one lot bet with a reasonable stop loss.

In any case, once the EUR rocket ship reached the top of its climb, it flittered about for a bit and then began a slow descent. I shorted the EUR and remain in that trade. It looks as if I'll pick up another 10 or more pips before I close out the day.

The rocket was a wonder to watch and while it would have been nice to have been on board, I realize I can't catch every one and I make a point of reminding myself to appreciate the fact that I had another good trading day!