TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

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It is time now…

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I was busy preparing my currency and futures trading stuffs and forgetting about making this short post. If possible, donate a portion of your monthly trading profit (Profit, if you are having a bad month, then let’s do it later) to any charity organization of your choice. Any amount, even just a small token , it really doesn’t matter.

I have a couple of friends response to me ‘ I am donating to myself’, ‘when I am making a lost, who is donating to me?’…that’s sooo lame.  Anyway, making donation is a personal preference, nothing is easier than taking out $20 from your profit to help some needies. Well…

Right, I have no new item in the list. Here are the two for your consideration. (Having said that, just to make it clear, I am no affiliate to these organizations, so..)

http://www.worldvision.com.au/

http://www.oxfam.org.au/donate/

Is it time now?…AUD/USD….uhm…

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So, I see something better, maybe something pleasant. We had weaker than expected employment condition in U.S. In addition, RBA maintains the possibility of further interest rate hike later. I am not into fundamental analysis, but the current condition seems to favor my still bullish view of Aussie dollar. Anyway, we are back to 0.92-ish now. In fact, my next trading target is somewhere around mid-93-ish level. Let’ see how it goes. 🙂

There is one thing to watch out…GOLD! This crap is still enjoying its diving session. 😆 . I mean, we might still need some time to see if GOLD is to rebound. This, of course, influences how Aussie and dollar perform.

Here is the….CHART!

[photopress:audusd06april2008_1.gif,full,1]

Here is the….Trend Score! A weak uptrend might be a start of new uptrend, at the same time, it might be just a trap. let’s see.

[photopress:audusd06april2008_trend.jpg,full,1]

About this tool

Gav’s weekend rambling

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I have been spending my weekend refreshing my memory/skill of NQ futures trading. Playing around with Tradestation. Thanks to the daylight savings things, U.S market opens around 1030pm Melbourne , Australia time. I would be pretty free at this time (currency orders should already been submitted, triggered or expired so…), instead of sticking my ass on sofa watching CSI miami, I am starting my futures trading engine again. Well, let’s see how it goes, no rush though.

Over at The Lonely Trader, reader LP was asking Jay for recommendations of currencies trading books. In short, the conclusion is , all most all the books s*ck. Well, that’s a fair statement. :lol:. I was browsing around some trading portals/forums, particularly on currency trading topics, craps. Again, and again these authors, self-claimed professional traders, full time traders, are just repeatedly writing something useless. ‘Why we do not trade on NFP day’, ‘Currencies pairs personalities’, ‘how retail forex works’,’ how leverage can maximize your profit’. Yeah, these topics are just…crap..opps, sorry, …useless.Try google it, you can find the same topics easily. It is just so boring. Anyway, you can’t learn trading from reading these stuffs.

So, how to learn currency trading? Trade currencies, and find a way to save yourself, learn to survive. Uhm…that’s all the ‘advice’ I can give. 🙂 If you are interested, maybe have a look at blogs like lonely trader, the3500, and of course, Trader Gav.com to find some clues about skill of exchanging currencies 😆 Anyway, you have to jump into the pool to learn swimming. You can’t just googling ‘how to swim’ and expect something to happen.

Ok, enough rambling. April version of Currency Trader magazine is out, check it out. Chart scanning will be done tomorrow. I guess we should have a clearer direction next week, I hope so!

Have a good weekend.

Is it time now? EUR/GBP….uhm….

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I decided to have a look at EUR/GBP as my friend, Jay , the lonely trader is looking at short side.  I have a different opinion this time (Anyway, we might be looking at different time frame). In fact, I am looking at potential long trade. I feel there might be another run of bull. And generally, I still don’t see a bullish GBP coming. Let’s see how it works out. 🙂

Here is the ….. CHART!

[photopress:eurgbp28march2008.gif,full,1]

Here is the….Trend Score! We are looking at a strong uptrend at the moment.

[photopress:eurgbp28march2008_trend.jpg,full,1]

About this tool

Is it time now? AUD/USD….uhm…..

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It is end of March. Sky above Melbourne Australia is kinda grey-ish. Rainy autumn days. Does it set up the mood to short some Aussie dollar? :o: .. Unintentionally, I have been trading AUD/USD for quite sometime. Maybe it is because, it is now my home currency, or maybe it is just because commodities currencies are in play for the past few months. Whatever it is, AUD/USD did give me some profit, that’s the point.

OK, for long term holding, I am still bullish about Aussie dollar. However, I am not adding/establishing new long position at the moment. Things are not looking good, in my definition, yet. I might do a couple of day trades (in the short side) in the coming days/weeks. Looking into shorter time frame (4-hr for example), we are indeed in a small downtrend since mid-march. Btw, my ‘proprietary’ momentum indicator (Long Black, named after my favorite coffee 😆 ) is not bullish, yet.

Here is the….. CHART!

[photopress:audusd28march2008.gif,full,1]

And here is the ….. Trend Score

[photopress:audusd28march2008_trend.jpg,full,1]

about this tool

So I am a detailed trader..What type of trader are you?

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Hat tip to John for the link. I took the test twice (as I did not read the questions carefully in the 1st run), and it ended with the same result. So, I believe I am a detailed trader now. LOL. Seriously, I can’t agree more with the result of my trading strength and challenge. It actually reflects in my working life as well. I am pretty good and confident in execution, but, I can be very wrong by working and researching something in the wrong direction. What the …..

Anyway, give it a try.