Wednesday, May 16, 2012 7:57 PM EST

G7 and Greece make weekend risk high…

Written September 9, 2011 at 3:51 PM EST by Greg Michalowski

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It is another weekend where risk is elevated. The G7 is meeting and a comment or concerted action could be announced (not expected as most countries want a weaker currency). The Greece situation is a wild card. Greece denied. Germany warned. Most feel that the a default is inevitable. Will something happen this weekend? Not sure.

When risk is increased it is advised to lighten up positions and wait for the new week to start. Remember, the goal is to make steady money and above all not blow up. When markets are closed, if you are not in a profitable position, anything can happen.

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Categories: Forex Trading |

One Response to “G7 and Greece make weekend risk high…”

Troy on September 9th, 2011 4:23 pm

That’s exactly what I did with my AUD/USD short trade. Lighten the load and move my stop loss into positive.

Feels like 2008 all over again, let’s see what Monday brings.

Enjoy your weekend.

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