Good Idea, Bad Execution

My sell order from last night didn't get filled, which is fine. I actually expected that.

So I waited until this morning to get in on the US employment news release. The data came in where it was expected, with 128K Non-Farm payrolls and 4.7% unemployment. Since this met expectations, I expected the Cable to fall, and sure enough, it did. I put a sell order in, but the OANDA game server froze. I didn't get my order filled when I wanted it to. When I decided to close the order because I couldn't get an update to the order, I didn't know where it would close. Turns out it was at 4.5 pip loss. Bummer.

So I had the right idea, but technical limitations prevented me from getting what I wanted. The Cable sank from 1.9060 all the way to 1.8960 before righting itself and returning to 1.9060. I think the -1.2% from the Construction Spending data that came out at 10:00 AM might have contributed to the recovery. If you did things right, you could have gotten about 200 pips round trip.

I'm almost tempted to put an order in now to buy if the Cable falls to 1.9020, but given the weekend is rapidly approaching, I don't want to get caught with an open position. I'll just have to miss out on this one.



Have a good Labor Day Weekend.