Well the markets are holding very slowly and hardly moving so I’ll talk about something else.
I host all my forex platforms on SimpleTrader VPS servers. Yesterday it stopped connecting to one of them, frankly the service was fantastic sorting it out. I have a back up system anyway so I was able to carry on trading while they sorted it out. I have to say that I’ve used a few VPS and theirs is very fast. Initially we thought it was a problem at the other end, oh and the other issue was, because the MT4 platform could not connect to the server it filled the disk up with logs. (bit of a gotcha there).
So back to trading.
Today? We could see much further downside on the EUR because of the NFP figures, or a reversal. Who knows, 125k is expected but I have a haunting feeling it could be closer to 145K but we shall see. NFP is a very important number because a. it is very very volatile and b. it causes traders to go flat, not trade, directly before it. (Apart from the foolhardy ones!).
New traders should always be flat (out of trades or at 0 stop loss on open trades) before NFP and other major news otherwise you can have massive losses and stop out very very fast. (You DO use stop losses, don’t you?)
I avoid EURUSD trading on the whole. Its just so unpredictable.
Still looking for long entries on Gold as well.
Simpletrader vps – Click Here