TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Gav

Update

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summary.jpgI hope everyone had a great week.

It has been an interesting trading week for me. I traded actively throughout the week, in both Australian stocks and Forex.

After spending some time and $$ for data and broker selection and funding, I am ready to start the real work. It is interesting to figure out the way Australian stocks market works. Comparing to Singaporean stocks market, Aussie market is bigger in size and variety. I have a couple of open positions now.

Forex. I start to love the game more and feel I am getting synchronized with this massive market now. I trimmed down my losing position of USD/JPY, and beef up my Aussie positions for my medium term portfolio. And I made a couple of day trades this week with some Rs profit. Not too much, but good enough for weekend’s dinners and a little bit of shopping.

I miss futures trading, but that’s something that I can’t do now. So for the time being, Forex and stocks (swing trade) are my play ground (or battle field ?)

I did some bad journaling. This weekend’s work will be getting the journal organized.

Sector of interest 10-Sep-2007: XMJ (Materials) & XHJ(Health Care)

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Before I start exploring Australian stocks market, I am thinking of identifying some strong sectors. XMJ (GICS Materials) and XHJ (GICS Health Care) sectors caught my attention at the moment.

I did a relative strength comparative between individual sector and XJO (S&P/ASX 200). Basically, I am trying to see the performance of the sector index in relative to major index. I am using S&P/ASX200 as my base index.

Health care sector look rather strong at the moment , while Material sector is making a come back now. I hope I have some time to examine some stocks in these sectors, or I might just trade the sector indices directly via CFD.

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Chart of interest: AUD/USD end 07-Sep-2007

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I am still holding my long positions of Aussie pairs. Looking at the chart , we are approaching resistance area which is the combination of previous high and 50-day moving average. Aussie dollar managed to close above 200-day moving average most of the week.

Well, I am still stubborn. Long Aussie at the moment.  Have a good weekend ahead. It spring in Melbourne. What a beautiful Saturday!

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YuckHoo!

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WTF?!? well…all my old contacts and emails are gone. Thanks to YuckHoo!

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Left or right side of brain

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Eyal posted an interesting photo on his side.

If you see it turning clockwise then your analytic left side is more dominant while anti-clockwise means your creative right side is more dominant.

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At first sight, I saw she was turning left anti-clock wise, and then right-clockwise. I found it pretty difficult for me to switch from right to left. Uhm…same result …which means, I am always being uncreative.

Strong or stubborn opinion – discretionary trades

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I would say that these trades are discretionary. Maybe you can say I am bottom fishing, but I have no idea about where is the bottom. I am just being bullish about Aussie dollar at the moment.

I am currently long AUDUSD, USDSGD, USDJPY, AUDJPY. I opened these positions since starting of Asian session yesterday. We saw a wild swing throughout the day and all positions are in the money at the moment.

I am watching the market closely. And these trades should last for days if not weeks. In addition, I am having the advantage in term of interest payments for these long positions.

Let’s see how it goes. I am still trying to refine my trading strategy.