TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Gav

Today’s coffee thought

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Maybe I had been staying in Singapore for too long, I tend to work or live by rules. Here is something for you to think about.

When crossing a road with moderate traffic, would you rather press the ‘cross’ button of traffic light and wait for the green light before crossing? or you will take your own steps as long as you feel it is safe without even looking at the traffic light?

I often see people ran across the road just to save his 0.1 minute, and people like me, dumb enough to just wait for the green signal before crossing.

Try to link this to your trading. What would you do? why?

Food for thought , from Gavin.

Wednesday’s Currency trade

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Ok, again, I am going to reveal a ‘trading secret’. ‘Go long when market goes up.’ Cool? 😀

Back to business. There were not too many opportunities today. I missed the short of GBP/USD, because I was busy having dinner :o: . I went long of AUD/CAD. Yup , again. I saw a stronger Aussie and weaker Canadian dollar. Exit the trade after waking up in the Melbourne morning before I am heading to work. Just a +25 pips trade.

Aussie is still looking strong, my gut feeling tells me it should continue moving for a little while. But well, too bad, I have to exit the trade now.

Here is the……CHART!

[photopress:audcad09jan2008_tradeclose_blog.gif,full,alignleft]

Tuesday’s Currency trade

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Listen carefully, I am going to reveal another trading secret for my readers. ‘ Escape when market does not move in your favor‘. Happy , eh? 😀

Back to business. A contrary to yesterday’s long watch list, I did not see too many opportunities today. I went long at AUD/CAD. But, heck, it just failed to continue moving and negated my setup. So, a -43 pips trade.

I am still watching AUD/CAD, my gut feeling tells me that I might get 2nd chance to go long again. But, hey, that’s my gut feeling, don’t steal it.

Here is the ………….WAIT, no chart. I only post beautiful charts here, so don’t expect to see my losing trade. :o:

Update of 2nd trade:

uhm…I went long AUD/CAD again during London session…And after a good night sleep (now is 7 am in Melbourne,Australia), around ending of U.S session, I closed the position with +12 pips or so. (Another reason of closing the position is because I do not have access to my trading platform in office)

Here is the…….CHART!

[photopress:2ndaudcad08jan2008.gif,full,alignleft]

Monday…no trade

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I was watching a number of short setups, and chose two promising ones. However, none of the orders were triggered before U.S session. So, I will have an early night today. Generally, I saw stronger Yen across market. But well, no trade for me. Ok, here is my watch list if you really wanna see…

watchlist.JPG

urgh…..chart..of..interest..ouch..AUSSIE!

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If you really wanna know my view of Aussie now. Generally, I am still positive. But, for trading purposes, I have no position now. I intend to go long at the moment. Just waiting for the entry. Yes, I just can’t get myself to short Aussie dollar now. Without wasting too much time, here is the weekly and daily……….CHART!

[photopress:audusdweekly05jan2008.gif,full,alignleft]

[photopress:audusddaily05jan2008.gif,full,alignleft]

Today’s coffee thoughts

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Something for you to think about.
You own a cafe, you manage to get some nice coffee beans at pretty low price, and selling a cup of coffee with normal market price. But, your cafe is located at some odd location. And you only have a couple of office workers patronize during working days, and absolutely quiet during weekend.

So your profit margin is high, but sales figure is low. Is this a good business to continue running? What would you do now?

Think about this in term of your trading. How does it relate to your trading? uhm….

Food for thought from Gav.