Happy new year! Today is Chinese Lunar New Year, and this is the year of Ox (???. To all the readers of TraderGav.com, here is to a healthy , joyful and profitable year.
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One RDT trade
As mentioned in my weekly wrap up, I shorted AUDJPY. RDT (read: Really Dumb Trend) system did well today. Nothing much to say, just profit target was achieved. Trade closed with +194 pips. What a week.
Here is the chart to inspire/show off/whatever…
I am done for the week. Time to catch Australian Open. I am all in for Roger Federer. 😆
Weekly wrap up
This is the week of USD. And this is the week of President Obama. IHF (read: I-Hate-Forex) system ran wild with Long USDCHF, Long USDCAD, Short EURUSD, Short AUDUSD, Short NZDUSD (after long NZDUSD stopped). All winners. All positions are closed. Some signals were deliberately ignore on Thursday session, as yours truly, the brilliant Trader Gav felt dollar was over extended, and refused to take on any risk to Long USD. 😆
Pretty quiet week for RDT (read: Really Dumb Trend) system. I have two signals at the end of Thursday U.S session. Short AUDJPY, short EURJPY. Something fishy going on with Yen. Yen is notoriously naughty to my systems. So, only AUDJPY position is taken with small size. So, right now, I am short AUDJPY.
Outside trading, my day job is coming to the end soon (bad timing huh). So I am actively looking for next project. In case you are interested to know, I am a very experienced Billing systems consultant (IT) for Telco or cable companies. Let’s see which country I am flying to later. It is not a surprise to see companies are struggling with budgeting problems, I expect a little more difficult to seal any deal. While confirming my next project, I am focusing on my automated trading system development project.
Life still goes on, trading still goes on well. Let’s see what market is to offer us next.
Hope you had a good week.
Coffee thought of the day….Patience is part of trading?
I was in a trading chat room. Most of the participants were waiting for trading call from a signal provider. While I don’t trade on these calls, it is really interesting to see how new or struggling traders or so-called busy trader-wanna-be waiting for calls desperately. Well, it is absolutely OK with subscribing to trading signal service . I am not arguing that.
Here is a short conversation I have found it to be interesting.
[ABC] Any one has any idea about trade alert today?
[123] apparently not
[DEF] no one????
[456] are you asking us to speculate on what will happen?
[ABC] guess we’ll just need to think for ourselves…
[Master] Patience its part of trading
Ah…”Patience is part of trading! “..Well said. But, to disappoint you, waiting for trading calls is not trading… face the fact, you are not trading if you are still spending your time waiting for the signal service provider to feed you with something…uhmm..something..
I am out for my morning coffee now…
Step back
We had some good runs in most of dollar pairs. I closed all my long dollar positions today. There were two new signals today to long USDCAD, and short NZDJPY. I left them out. Right now, dollar’s appreciation seems to be over extended, to me. Well, I am talking about short term. As much as I would like to trade again, I decided to sit on my cash right now. I might be wrong and missing opportunities, but, I feel today is a good day to step back, or take a break.
Probably, spending some time to watch Australian Open is a better idea. 🙂
One Aussie trade
Here we go. Another trade by IHF (read: I Hate Forex) system. AUDUSD short trade was triggered during Tuesday morning london session. Final profit target was hit, since I bailed it out at 0.65 level. Another nice shot, nice short. +111 pips.
Here is the chart to inspire you. Making good trade is good for your health, I reckon. 😆
