We missed our second EUR/USD fill by 4 points just before the market came of 50 points in two hours. We missed our first EUR/JPY fill by 2 points just before the market came off 120 points in 3 hours.

We have been stalking those two trades for well over a week now. I have to tell you I'm sitting here shaking my head this afternoon. I can't remember a time that I have been so right on the market direction with so little to show for it. It just goes to show that market analysis is only half of the battle. Trade execution is the other half.

It is one thing for an analyst in hindsight to say, “Oh yeah, you should have bought here and sold there, 50 points easy.” It's truly another thing to roll our own sleeves up, provide the exact entry, exit levels hours ahead of time, miss our entry by 2 pips, watch the market immediately go in your direction, and then have to report our missed fortunes back to you the next morning. I take the winners and losers right along side of you. To do it any other way would be a disservice to my trading and your trading. But so goes the life of a trader, but we love it, which is why we play this crazy game.

I am short EUR/JPY currently on a 156.75 average with stops at 157.05. Looking forward to the weekend to recoup and comeback strong next week.

Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

Disclaimer
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.