Trading forex this week, I knew I would lose. Its the retracement or reversal in worst case scenario, that’s the culprit. But I managed to gain an unrealize profit of 14% hoping to make money out of the market. Meaning, I’m still not out of the market and the earnings may increase or decrease as things unfold next week.
There was a joint effort of banks to lower the spread and give the Eurozone the loan. That was in effect, made the retrace back up of the EURUSD abrupt. I got burned in the process. But managed to pick the top as we held on to it for the “Hopefully” longer downtrend.
On the bright side, its December! There are lots of stocks going to ramp up in this month. Also, the USDPHP exchange rate may get lower because of the OFWs remitting money back to the Philippines. Its a good time to buy more USD if you’re trading USDPHP.
Pretty much a good week. Didn’t get burned that bad. We are still on the right track. Now, if things progress the way it is, we will be having a very good Christmas.