Looking out my hotel window at Times Square, I can see the city is taking a breather this morning. It’s Monday, February 20th, and the usual stream of yellow cabs is just a trickle. The streets below are quiet. With U.S. markets closed for the holiday, the usual financial buzz is on pause, even as the rest of the world keeps trading.
On Fridays, my trading day almost always wraps up by noon. Today, I'm clocking out even earlier for a chiropractic appointment. If I'm in a position when it's time to head out around 10:45 A.M., I'll just let my automatic orders manage it. After that, I’m heading up to Orlando for an internet marketing seminar—a three-hour road trip from my place in South Florida, which I actually enjoy. I just put on an audiobook and go.
This morning started like most: scanning the markets for familiar patterns. I was looking for specific setups, or “Waves,” that signal a potential move after a recent breakout. I quickly flagged three currency pairs that looked promising: the AUD/USD, USD/JPY, and EUR/JPY. For any swing trades, I needed to see a clear trend already in place before I’d even consider looking for an entry.
It was Wednesday morning, and the markets felt like they were holding their breath. It was the day of new Federal Reserve Chairman Benjamin Bernanke’s first testimony before Congress, and everyone was waiting to see what he would say. Coincidentally, it was also the 35th anniversary of the NASDAQ. I used to joke that two things were born in 1971: me and the NASDAQ.
Getting to my desk before 6:00 A.M. is a small win, but these little victories are what build confidence. It’s easy to get discouraged after a sick day or a late start, but in trading, confidence is your most valuable asset. Lose that, and even the best strategy won't save you. I’m focusing on stringing together a few well-prepared sessions to get back into my rhythm.
Some days are quieter than others in the market, and Monday was shaping up to be one of them. On days like these, I avoid chasing big moves in volatile zones and focus on clear, confirmed signals. It’s a core part of my approach to this —discipline over drama. Here’s a look at what popped up on my radar and how I handled it.
It's Sunday afternoon, and I’m feeling fantastic—probably the best I’ve felt since getting sick back in January. A little time out on the boat with the ocean air seems to be the perfect cure. But despite the great mood, my husband just caught me grumbling at my desk around 4:00 P.M., completely absorbed in my charts. It’s a common scene when you're ; the work never really stops.
It’s Friday morning, just before 7:30 A.M. EST, and I’m already watching the market. My main focus is a short position on the EUR/USD I’ve been managing since Wednesday. A big economic report, the Trade Balance number, is due at 8:30 A.M., which means things could get volatile. I’m preparing to use tight 60-second stops on any open trades to manage risk.
It’s early, and my overnight trade on the EUR/USD is slowly creeping lower, which is what I wanted. I used the Wave’s middle line as my protective stop, so I quickly check to see if that price needs adjusting. It’s only moved by a few pips, so I’ll leave my stop where it is for now.