TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Gav

Tuesday

by Leave a Comment

Big day in Australia. 100 basis points cut brought us to 4.25% now. But at the same time RBA hinted that’s the end of easing (uhm…do you…trust..R..B..A…eh?) . Anyway,  I guess, it managed to killed some shorts. 😆

I did two trades today. Shorted the AUDJPY in the begining of Asian session, bagged some profits. Shorted EURUSD again at the open of London session, again, bagged some profit. London session doesn’t continue the sell off of Euro.

I was working at home today. I let CNBC/Bloomberg play the whole day on my TV. Panic and fear. And they just kept repeating “U.S is confirmed in recession since last December”. WTH? who cares about this confirmation?

Anyway, that’s all for today.

Tale of two trades — USDJPY, EURUSD

by Leave a Comment

In order to salvage my getting lower blog readerships (in fact, it is consistently low readership 😆 ) , I am going to post two trades that I have made today , 01-Dec-2008, London session.  it is show off time again! 🙂

Scalping? Yeah, I do scalp.  But, I have a box of trading styles, so don’t waste your time guessing. 😆

I told you I have a negative view of Dollar. This is particular true when watching USDJPY. I watched the opening hour of London session, let the price flowed, and wait for the currency pair to form my favorite setup.  BANG! Shot the Dollar, Oops, I mean short. Aggressive price movement, with aggressive trailing stop.

Here is the …. CHART! small +40 pips.

OK, now EURUSD. I told you ..blah blah blah…but, Euro looked weak.. So, I shorted EURUSD.  Dollar was weak. So the trade closed with small profit. Thanks to the partial profit taking orders.

Here is the… CHART!

That’s all. Two trades for the day. I am off for shower and dinner. Ciao!

A Dollar negative week ahead?

by 2 Comments

Chart brought to you by Market Club.

We have a series of economic reports lining up next week. And majority of them are dollar negative. This should be an interesting week, and it might be a week with trading opportunities.

Looking at the U.S $ Index, well, one might say we are waiting for a upside breakout, but, there seems to be a negative divergence with techinical indicator.

My opinion? I am negative about Dollar.

Christmas..uhm..it’s christmas , not credit’mas

by Leave a Comment

AROUND one in five Australians plans to put their entire festive season costs on credit, a new survey has revealed.

The MasterCard Worldwide Australian Christmas Spending Survey found 60 per cent of Australians planned to use a credit card for Christmas spending, and 22 per cent expected to put all their costs on their cards.

Around 84 per cent said they would pay off the debt within three months, but Consumer Action Law Centre CEO Carolyn Bond said many with outstanding debt would struggle to pay off purchases before being charged interest.

She said Christmas was a challenging time.

– 68 per cent of women will shop online for Christmas gifts
– 63 per cent of men will shop online for Christmas gifts
– 60 per cent will use their credit card on Christmas spending
– 49 per cent will cut back on entertainment costs
– 45 per cent will spend less on holidays and travel
– 44 per cent will cut back on gifts for extended family
– 41 per cent will cut back on gifts for friends
– 27 per cent started shopping three months before Christmas
– 22 per cent will put all their Christmas spending on credit cards

Full report here

Being a stingy asian, I smell blood when reading this type of report. There’s absolutely nothing wrong about using credit card. I do so. For convenience, for the sake of earning the little 55 days interests from my savings account. But… “84 per cent said they would pay off the debt within three months”..sounds good huh? That’s scary, so majority of them are not prepared, or even able to clear credit card debt immediately when the first credit card bill arrives. What’s going on here?

Christmas is the season of giving. Why don’t you give yourself a break? A break from the credit card debt.

Calling 911

by Leave a Comment

To all my readers/advertisers/friends. Just to let you know my blog contents are stolen by a website called Sureintent.

This crap is publishing everything I write on tradergav.com.

In short, I only write on TraderGav.com.

uhm… to all bloggers. let’s find a way to punish this guy, how about that?

Weekend updates

by Leave a Comment

Firstly, if you are wondering what happened to the Short USDJPY, and Long USDCAD positions? They were all winners with profit targets hit. I am kinda lazy to post another charts to show off today. Maybe I should do that to attract some traffics. 😆

Guess what, USDJPY’s rebound at the end of last week might just provide me another chance to establish short position again next week. Let’s see. I am a little bit negative biased towards Dollar next week.

I was on a road trip with a group of friends to Mornington Peninsula, Australia. The day started with strong wind, hail, and really bad weather forecast in Melbourne. But, there was totally another world at mornington. Nice sunny, comfortable day. Man, it is always good to be away from city.

Jay at The lonely trader posted an interesting conversation with a full time trader. Good read. But, as usual, don’t start debating with Jay if you have a weak heart. 😆

I am off to enjoy my Sunday morning. Man, I think I love Melbourne.