What's your #1 trading rule?
I've heard plenty. Warren Buffet, for example, has only two, apparently:
1. Don't lose money
2. See rule 1
I ask in reference to the AUD and the Australian trade balance data.
The data came in at a huge surplus. Good news, right?
And yet the AUD pop was met with instant sellers - which indicates to me the thing is offered and the best bet is for lower.
I.e the thing to pay attention t is not the data but the market response to the data.
But ... here's the thing, since then its been a big fat nothing going on.
And it brings to me my #1 trading rule ... only trade active markets. Which, right now, is not what we've got here.
Thoughts, comments. All welcome!