I top up another 500 USD this week just to be safe, as the XAU remained high but my DOT fell to a low. I had enough money to tank, but I wanted a good night’s peaceful sleep. This week’s profit was 36.02 USD. Not much, but better than nothing. Enough to cover the credit card fee for my previous 2 top ups.
The XAU remained strong, although I still expect it to fall in the coming weeks. I believe that all I need to do is to wait out this period, and things should get better. Of course, nothing is 100%, and therefore we need to manage our risks accordingly. Play small, and ensure sufficient buffer.
I closed 4 out of 5 of my GBP/CAD trades. Will close the last one at breakeven. Did not feel right playing it, and thought I will stick to the main forex pairs if I am to play currency again.
The bubble is big. It should be just a matter of time before it bursts. But, from now till then, the bubble may grow even bigger, although that is not what I hope for. Respect the market, manage your risk, hold on and we should turn out fine.
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.
