Hat tip to Caroline Hobkinson who sent me the link of this video today. Funny. A good laugh for the weekend 🙂
One Euro trade
OK, this is not a good trade, in my definition. I am not being myself today. Anyway, I exited short position of EURUSD around 1.54-ish. I didn’t like the fact that price flirted around 1.54-ish level. (OK, maybe this exposed my weakness of unable to hold on the winner). Whatever, not a good trade, but nice chart. That’s the reason I am writing this post. I am going to show off yet another nice chart. Shoot! Did you read my junkie idea in the previous post?
[photopress:EURUSD07May2008.jpg,full,1]
Tips or Junk ideas
I am not going to write too much. Are these charts look a sell to you? Think…
EURGBP : Trend Score: -55
[photopress:EURGBP06May2008.gif,full,1]
EURUSD : Trend Score: -70
[photopress:eurusd06may2008.gif,full,1]
NZDUSD: Trend Score: -55
[photopress:nzdusd06may2008.gif,full,1]
What’s going on? uhm…Dollar bee…Dollar boo..Dollar ah ah…
So you know we had a surprised Non Farm payroll numbers last Friday. The Green Back is showing some strength. I see some Long setups in dollar pairs, before I start my trade selection, I would like to have a look at Dollar Index.
We saw dollar kinda bottomed around 71-ish level. Well, maybe I should say, it chopped around 71-ish area. And it started to show some strength in April. Of course, even the doggy outside my apartment can tell, USD is still in established downtrend, in medium to long term. For now, I see 75-ish level as a target before it continues its downtrend.
So, I might have a couple short term long USD positions in the coming week. Let’s see how it plays out.
Here is the ….. CHART!
[photopress:Dollar_index_04May2008.jpg,full,1]
Here is the ….Trend Score! Bear in mind , we are having a very weak uptrend though….
[photopress:Dollar_index_04May2008_trend.jpg,full,1]
Weekend thoughts
I spent my day in church, shopping in Queen Victoria market, having Malaysian food for lunch, a nice coffee break in a small cafe near my place. What a nice day. A little chilly in Melbourne, but I feel good. A day without work and trading.
After finished my dinner, I was checking out my emails. Unintentionally, I was browsing my old blog posts, my SIMSCI futures trading journal ,which was around 2 years ago. I am inspired by that trader, which , in fact is myself. 😆 . No, not another showing off posting here. The point is, I found that trading profitably can be that simple. I was purely trading price patterns and inter market sentiments (I used Nikkei and HangSeng as sentiment indicators when I was trading SIMSCI futures, I didn’t know how did I come out with this brilliant idea), that’s it. I still love that moment.
Looking at my current trading. Again, I am back to the starting point. I start to perform well when I am back to basic. I adventured different stuffs in trading, trying to improve (if not deteriorating my own performance), and profit appears when I am trading the old way that I am comfortable and confident with.
This is absolutely one of the good points of keeping a trading journal. Go back to read your old journal. It is a mirror. It tells you how silly you were. It tells you how good you were, and It tells you now it is the time to head back to gym to get back your six packs and biceps.
Ah, just my weekend rant.
Burnt-out
Now, I realize, I am burnt out. Never thought of this would ever happen to me. Thanks to Tom for pointing out this to me :).. I have been non stop working in my current JOB in Australia since the second day I landed on this country last June. Moving into different teams, working with different managers. Brilliant ones, crappy ones, useless ones.(Yeah, anniversary is coming…), the best is the f*cking weekend work roaster..I gotta be ‘on-called’ on weekends. WTF. Who said working in Australia is relaxed? I will slap on your face. The amount of work is not ridiculous, but working in a messy project, poor management, and with some poorly skilled people is tough.
I often joke with my pals that we am working like a prostitute. we perform and finish the job professionally, nobody will even says ‘Thank you’, they pay us, and go away. But, if we are not in condition to ‘perform’, we are kicked on the stomach or slapped on the face. Yeah, we are a bunch of professional, high paid prostitute in IT industry.
I am working for money. I’d never denied it. This shitty job pays me reasonably, to my own standard, though.
I resumed my trading around4 months ago. So far, I am pretty happy with my performance. I would say, it is just because, I am really doing something I love to do. Whatever, but trading full time is still not a consideration now.
OK, the fact is, I am burnt out now. Sleep 5 hours on average everyday. Waking up before 6am everyday without assistance of alarm clock, even on weekends. I just can’t sleep well. I need to do something. I would not say trading is stressing me up. Not at all. My long term readers know I am not day trading. I am trading large time frame, with minimal monitoring required. The work? might be, but not totally. I guess, I am pushing myself a little over to achieve my own financial goals. Am I ? No idea.
I am planning to take a break soon, and I need to. By the way, Trader Gav is still kicking ass in currency trading. 😆
Believe it or not. I actually feel better after writing this post.
