Here is one simple trade I have made today. Nothing fancy here. In hourly chart of AUDUSD, a bearish candlestick reading was observed, and, in addition, previous swing high was taken out. These gave me a bearish view. Ignoring the hype of improving Aussie employment figures, and RBA rate hike news, these did not sound good to me. I went short. And here is the chart.
Archives for 2009
Talks Richard St. John: “Success is a continuous journey”
I was planning to run some accounting and journaling work during Sunday morning, but my broker platforms were offline for maintenance. I browse around TED talk to find some quality videos, here is one of them. Well, some of you might have watched this before, but, it is worth to revisit again. Enjoy!
Richard St. John reminds us that success is not a one-way street, but a constant journey. He uses the story of his business’ rise and fall to illustrate a valuable lesson — when we stop trying, we fail.
Video: John Murphy on INO TV now
INO TV has recently added one of John Murphy’s seminar “Applying Technical Methods to Today’s Trading” in the free video library. I think it is definitely worth the time to check it out. All it requires is signing up a free account to access to the video. Details here.
In addition, there are some featured videos available as well, such as Crude Oil and Energy Update and Market Wizard insights by Jack Schwager.
Chart of the moment $AUDJPY 10-Nov-2009
I had a quick look at AUDJPY. Here is what I see, and I love this chart. Are we, again, heading for another breakdown? What do you think?
Here is the … CHART! (click to view full chart)
Some technical statistics
Chart of the moment $EURGBP 06-Nov-2009
I am looking at 240 min chart of EURGBP. Are we heading for another breakdown? I am watching closely, and maybe, we are looking at 0.87-ish. What do you think?
Some technical statistics:
Does NFA changes really hurt FX trading business?
So, we know NFA has been changing rules. Retail traders are complaining, moving away from U.S based brokers.
But, is the change really bad? Well, firstly, I am not trying to defend NFA. I am just thinking, should I really look for another European based, or Australian based broker?
I am not sure. The change of the margin requirement does not affect my trading, since I am never a high leverage player. So, increase capital requirement of broker, increase margin requirements for Forex position, is there anything that I miss out and it is really bad for the business?
Any thought?
And, about European brokers, I’m totally unfamiliar with them, and hence,not confident of sending money to them. So, I maintain status quo now, leave my trading fund with some big U.S based broker.