It’s just after 4 a.m., and I’m already up. Today is shaping up to be a big one in the markets, with some serious volatility expected around 8:30 a.m., and I don't want to be late to the party. A strong cup of Earl Grey tea is helping me get dialed in as I get ready to scan the charts, maybe to make up for getting a late start yesterday.
I woke up late this morning, even for my standards. The last few days have been draining, and I’m starting to feel the effects of writing two books nearly back-to-back. I’ve discovered that sitting at a laptop and typing for hours on end doesn’t burn many calories, so I’ve been hitting the gym hard. The result? I’m sore, craving protein shakes, and sleeping for 10 hours straight. Moderation has never been my thing.
Some Mondays start with a jolt. I woke up to find my position in the Japanese yen had gone absolutely wild overnight. It blew past my initial profit target, so I didn’t hesitate—I closed the trade immediately, taking both lots off the table at 117.20. I could have tried to manage it for more, but my profit target was originally 116.80. Anything above that felt like a gift, and my trading plan is so ingrained now that following the rules is second nature. This kind of is a great way to start the week, but it's crucial not to let an early win go to your head. It was time to refocus.
On a Sunday afternoon, I like to get a feel for the early market action. My approach to often starts by pulling up the 180-minute chart for the yen, and this week I saw exactly what I expected: the price was moving sideways in a tight range. This is pretty standard for the start of the week as the wakes up with the Sydney and Tokyo sessions.
I’m having a pretty light day, mostly rereading the manuscript for a book that will be in your hands by summer. It’s a surreal feeling, turning these typed words into a hardcover book. With my deadline just five days away, I’m trying to cram in a few last-minute charts and edits.
I’m a visual trader, which means my decisions are based on what I see on the charts—not on news headlines or gut feelings. My approach to is built on this principle. After weeks of analyzing charts, I hope this is becoming clear.