So I timed my Long entry poorly. I exited the position with 1 R loss. Basically, recent uptrend line is broken. Wrong now, wait for next entry.
Here is the ……CHART!
[photopress:audusd_daily22oct2007.gif,full,alignleft]
Update of a chaotic week
I did not put a single day trade this week. I watched the market, and nothing is really interesting so far. And there is a huge change in my day job. Chaos and disappointments. But life still moves on.
While I am figuring out what is my next step, I still continue trading. So far, we see USD is gaining strength throughout the week. But, I am still bullish about Aussie dollar.
I have just established a Long position of Aussie dollar (AUD/USD). Not day trading though. This trade should last for few days if not weeks.
Here is the…..CHART!
[photopress:audusd_daily19oct2007.gif,full,alignleft]
Tools for trader I: World clock on your desktop
If you are trading Forex like me, you should have some experience searching of world clock or time zone on Google. What is the time in London now? Has Japanese market closed now at Melbourne time 3pm? Forex is a 24-hour market, and volatility moves along with major market sessions. So, it is handy to have a world clock sitting on your desktop.
I have been using Qlock World clock since I started trading Forex and Futures. Living in Asia, and now Australia, I need to be aware which market is opened when establishing position.
Qlock World clock allows you to set up individual clock for each city of your choice, and even setup alarm. (So, not only for trader, you can use it to make sure you ring your love ones to say ‘Good morning, darling’ at the right time 🙂 ). Here is the snapshot of my desktop.
[photopress:Qlock.JPG,full,alignleft]
There are free and paid versions of Qlock World clock. With only $14.95, the professional version comes with Integrated RSS feed reader, Daily FX rates, Sticky notes, Automatic program updates, Multiple desktop profiles etc. Check it out.
Thursday’s Trading
There are some changes in the project management of day job. Some crappy news are coming. Basically, it is kinda affecting me. I am not in good condition for trading. So , no trade on Thursday.
Wednesday’s Trading
I made one trade today, Long CADJPY. Closed the trade with + 1.05 R. Not impressive at all. I exited the trade with a little bit of candle reading involved, and maybe a little bit gut feeling. I am thinking of start posting chart of my trade again. Well, not every single trade.
Here is today’s trade.
[photopress:CADJPY1hour10Oct.JPG,full,alignleft]
Tuesday’s trading
I traded NZD/USD in the morning which had a nice run during Sydney session. But I saw profit eroded one hour after Japan session opened. End the day with -1 R. Nothing much for the day. I spent a couple of hours fixing my internet connection in the evening time (which was caused by my own mistake 😐 ). A couple of dollar pairs (AUD/USD, NZD/USD, EUR/USD, GBP/USD) started to rally during U.S session which I have already left the market. The ‘I wish I were there‘ thoughts are useless for trading, so I am not going to bicker with myself.
