Good Day,

I hoe you all had a great weekend.

Markets are very quiet through the Asian and European sessions. The EUR/USD has been in 15 pip trading range.....

I have 8 LIVE trades at present with 4 limit order entry trades not yet triggered. This week we have a FED statement, ADP and NFP. Big potentially market moving news events. It should therefore come as no surprise that I will reducing my risk exposure ahead of these data releases. I am also away in Saratoga Springs tomorrow for a working lunch, so I will not be around at all until about 6.00PM EDT, which means i will either start removing risk today through to tomorrows European session or wait until the early morning North American session on Wednesday. You will see what I have decided to do, by the tweeting action. I will probably start removing risk today and bank $$$...what is the point of  risking some good profitable trades?

Overnight I added to my EUR/USD short. I also removed profits from this trade as well. I also added to my NZD/USD short. My cost averages are moving lower as result but in a range trading environment I am trying to maximize the $$ opportunities available.

I have just deleted a USD/NOK chart (240 Minutes) with a trade off a re-test of trend line support. I just had to delete it as the trades imploded. There is a secondary trade that I am now looking at and should it be valid I will tweet chart and trade set-up.

This week if you have a lot of exposure to trades, I think it would be a sound policy to review the RISK that you have, tightening stops, but on major news they can be passed before getting filled.  Bank $$$ MANAGE RISK is my approach.

I will tweet my thoughts and actions as the day progresses.

Good Luck,

Scott