Ouch! Look at Aussie dollar we are back to 0.92 region again. It only takes a day of action to give up our early gain. Not a pretty chart, but looks interesting. 😆 I guess I need to wait for a little longer to see the parity ‘dream’ comes true. 🙂
Here is the….CHART! Cool , isn’t it?
[photopress:aud17march2008.gif,full,1]
No, I am not shorting it, yet.
We have stronger Yen across the board last week. (That’s also the mistake I made by neglecting it last week.) Anyway, what I have in the box now is, not to go against Yen at the moment. I have a look at YEN futures. What a strong presentation.
Clearly, I do not have any medium term (some of you call it swing trade) candidate at the moment, since Dollar and YEN has been running extensively for the past two weeks. I will be watching out for day trading opportunity if there is any throughout the week.
Here is the …trend score
Here is the….CHART!
[photopress:6J_YEN_FUTURES.jpg,full,1]
These are news from mainland China. One of the hottest equity market under the sun. The recent breaking down of Shanghai stock index, below 4000 level gives china traders/investors/punters whatever you wanna call a wake up call. Here is the result when you are trading a big R that beyond your capability.
A 70-year-old man collapsed and passed away in stocks exchange, and a university lecturer committed suicide after serious trading loses. What’s next?
13-March-2008 , Sunny day, 23 degree Celsius. Melbourne Australia
It was a good day for Euro. But, I made a wrong choice. Well, at least for the trading result, it was not pleasant one. I was looking at EUR/JPY. The fact was, I neglected the strength of Yen, and at the same time missed the entry opportunity of EUR/USD. At least, I exited the market perfectly, (in other words, I was stopped out! 🙂 ) I guess, I watched too much TV. You know, I’m a big fan of Hong Kong soap dramas. 😆
Kinda crappy day for me. I was working crappy I guess. 🙂
This post is just a trading rambling. I wanna write down what’s going through my mind at the moment.
12-March-2008. Sunny day , 22 degree Celsius , Melbourne, Australia.
I have some trading problems. With result of February’s trading, I have achieved breakthrough of my equity and confidence. And, so far, I continue to be profitable in March.
I focus on the equity curve and focus on making new high of it. I am afraid of losing. Not even a dollar. I start to shorten my trading time frame. Trapped myself with small profit. Changing my stop level placement method (tighten my stops), and scratched some trades, chickened out some trades. I have totally ignored quality of each trade. With all these, I am still profitable. Crap, that’s the problem. This is not Gav’s style. This is a loser’s style. Do what you are good at, do what you believe in. Come back!
Forget about the new high of equity curve. Going back to your R-multiple graph. Work hard on making better trades, bigger Rs profit. Equity curve will follow when good trades are made.
OK, enough. I think I am awake now.
Today is Labor day (Public Holiday) in Victoria, Australia. I have the luxury to follow through Asian market. I see some weakness in Aussie dollar, I went short AUD/JPY. But the market did not follow through after London market open. Anyway, end the day with +1.25 R. Not a great trade, but not so bad to start the week.
In case you have not already done so, go check out March 08 issue of Currency Trader Magazine.
