Good Morning,

As we head towards several major news events in the next day or so (listed below), given the markets tight trading ranges and the Chop Fest conditions, I am looking to exit a number of trades during the day.

I am watching some trades just bounce around going nowhere, many of them are loss trades at the moment. I may just take 50% or 75% position sizes off the table, but most trades are already quite small.....but I just don't want the risk exposure. I will tweet the trades I remove or amend as I  review them.

U.S.  - ADP
CAD - GDP
U.S. - FOMC
CHINA - PMi
GBP - PMi
U.S. - Yellen and PMi and Unemployment Claims
AUD - PPi

All of the above in the next 36 hours or so, prior to Non Farm Payrolls on Friday morning.

I am not intending to add trades today, but, if something comes up I will take a look at it. I will intro-day (FLASH) trade if the opportunity arises, but my goal today is to fully review risk exposure. It all looks good and well within my TRADE PLAN guidelines but I can reduce size given the importance of the news on the horizon.

Take care, if you are trading and I suggest smaller position sizes to limit risk.

The ranges are getting tighter and the EUR volatility is at 3 year lows. This means that there is breakout looming, so please do not caught and trade smaller.

Scott

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