I am looking at loonies pair. From the daily chart, it forms a pretty nice short setup. A lower high seems to be forming. Btw, this is a Heikin Ashi chart. And recent bullish momentum of USD seems to be flat out. Maybe market is just waiting for the interest rate statement on coming Wednesday?
So what is your take on this? Short? I have a short bias now.
[photopress:USDCAD10Dec2007.JPG,full,alignleft]
Nobody loves to pay tax. But, we all understand that it is our duty for the sake of society and country development and welfare. I am paying, to my own opinion, a ridiculous amount of tax every month (man, I am really pissed when looking at the tax deducted from my pay check every month! 🙁 ). But well, this is the ‘duty’.
HOWEVER, when you realize that tax payers’ hard earned money are used by a bunch of lazy bum, maybe it is time to question the welfare system of this country. No, I am not referring to pensioner. I am talking about these group of young, healthy, and even strong people, who just ‘DON’T WANT TO WORK’. I don’t care if they wanna work or not, but, if tax payers’ money are used to feed these bunch of ‘social elite’, uhm…what do you think? It sucks.
This report is kinda disturbing.
Who needs work?
I am thinking of doing a review for the year, but I don’t feel like going through the numbers on the blog this time. There were some major changes in my career, and life and it led to change of my trading style and trading instrument. I left my old job, and I left Singapore. I migrated to Melbourne, Australia taking up a consultancy job. Difference of time zone kinda ‘forced’ me to start looking into currency trading in details. In term of trading profit, yup, this is another positive year for me. The figure is roughly around 10% for the year.
I gave some thoughts about my trading. Trading is something that I really love to do. Maybe it is because, I am still doing it in part time basis. No financial pressure is affecting my trading activity at the moment. I am not sure if I happened to go full time, can I still enjoy the game like I do now? Well, I can’t answer it now. At least, for now, I love this game.
I have experienced the thoughts of ‘I hate my current job’ or ‘I should start trading full time and leave the stupid job’ phase. I believe, most of part time traders experienced this during their trading journey. However, I come to realize that, I love trading the market, but it is not an excuse to leave my current profession. Part time trading can be challenging, fun, profitable, and most important , relaxed. Full time trading is a totally different phase of career, it is a career switch, a life change etc. It requires proven skills, track record and capital. I will do that, when the time comes.
I am in the new country, new culture, new life. There are problems and challenges ahead. But I am sure trading is still part of my life for the coming years.
I am not trading today. It is NFP day, by the way. I decided to have a quick look at Aussie dollar pair. Though it holds pretty well at 100 day moving average, bullish momentum does not seem to be building up just yet. To my opinion , it is going to be chopping around at the moment, if not breaking down. I am still being patient to wait for my long entry to appear. 🙂
Here is the………… CHART!
[photopress:audusddaily07dec2007.gif,full,alignleft]
I have not been trading currency for the past two weeks. Last week, it was because of my busy day job. While this week, I am just being a chicken. :lol
I am not the only one doing this. Echo to the post by Hector. I am standing away from the currency market for the time being as well. Basically, I am not a news trader. I don’t know how to trade the news, to be exact. So, why gamble? This is probably the busiest week of the month as far as fundamental announcement goes: AUD Interest Rates, CAD Interest Rates, GBP Interest Rates, EUR Interest Rates, NZD Interest Rates, US Non Farm Payrolls, etc.
I call this a chicken-style of trading. Trading will be resumed after the dust is settled.
