The recent releases of data about the US economy was at best, conflicting. However, the jobs numbers were off the mark by too much so there was underlying sentiment that tapering would either be postponed or it would be a small amount, kind of like a token taper if you will.
So the Feds announced no taper at 2 AM HK time, and AUD/USD took off like the shuttle while USD/JPY sank like a stone.
I was a bit nervous going into news time so I closed my AUD/USD positions and missed the chance to make quite a bit of money. I settled for a little bit since I had AUD/JPY positions anyway so I figured I'll make money there and wait for an Aussie pullback.
Anyway, with my new paradigm of trading, things are going much better. I have to remind myself time and again that the old rules no longer apply and the only way to survive this market is to play by the new rules.
Quite simply, you just have to stop intellectualizing the trades too much because its no longer responding to the old trading principles. Someday I might try write about my new paradigm of trading, but in the meantime, blogging will have to do.
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