It was a boring week. 0 profits in total.
The currencies and metals were stagnant. It was as if the market was taking a break or waiting for something big to come. Nonetheless, one should stick to plan and not open a new trade recklessly just for the sake of chasing the trend or just because of FOMO (fear of missing out).
That being said, I opened a new DOT/USD grid. The DOT is Polkadot, a cryptocurrency with high potential, one which I had traded a few months back and one which I have been monitoring for sometime and am familiar with. As one might have noticed, my grids are usually either all long trades, or all short trades. I generally do not play a mixture of both long and short trades in a single grid.
For DOT/USD, I managed to open 2 long trades before prices went up again. If it does not reverse its price direction, maybe I will be contented to profit with only 2 small trades.
Welfare pack for this week:
Download this week’s CFTC Commitment of Traders (big monies) analysis here.
Read more on what is the CFTC Commitment of Traders report.
Do note that the financial markets are volatile and unpredictable. The above report is only another set of tools to help with our analysis, and by no means is a 100% indicator as to what will follow. It should be used together with other necessary research which a trader or investor should do.
