I am obviously at the wrong side of market this week. So, before any serious damage , I decided to stop my car for a while, and enjoy watching. 😆
Trading Journal
Bearish view of GBP crosses
We saw a pretty good run of British Pounds crosses recently. However, good things seem to come to an end. I saw bearishness across GBP crosses. Looking at the bigger time frame of GBPUSD (i.e daily and weekly), now might be the time for down trend to resume. For short term trading (1 to 2 day time span), I am looking at EURGBP Long, GBPAUD and GBPCHF Shorts. Swing trade, GBPUSD is another shouting SHORT to me.
Here is the….CHART!
You can find my shameless, fatal market calls on Twitter and charts on Chart.ly.
Weekly wrap up 15-May-2009
It is Friday!
I managed to make some trades this week. CHFJPY, NZDUSD shorts are the winners of the week while I missed out some short term trades in AuDUSD, AUDJPY, NZDJPY. Having in the slightly ‘difficult’ situation recently, unpleasant day job, family issues, stress were building up faster than I imagined,this situation put me in some sorts of tests. I learned heaps. And fortunately, not in the hard way.
And most importantly, my overall trading survives. Having strategies in place for different time frames and market conditions, it helps to maintain profitablity consistently. My overall objective is to always maintain profitable week if possible. I asked myself ‘Why would I bother to continue trading when I am in such difficult condition?’ My simple answer: Why not? I took a day or two off to rest, however, I don’t see the need to stop working just because I am under stress. In addition, I know I am prepared to trade. All I need to do is to execute the plan. OK, let’s don’t go into the lame topic,’The imporatance of trading plan’ BS. The point is, as long as you know what you are doing, then don’t stop doing it.
I am sitting on cash now, and no trading on Friday. Spending time with my family, and looking forward to meeting some friends for a farewell dinner before they leave Australia.
As usual, if you are interested in listening to my nonsense and some fatal/shameless market calls, follow me on Twitter.
Picture of AUDUSD before Budget 2009
Or picture of AUDUSD before $60 billion budget deficit? 🙂
Well, it is a shouting SHORT….. Keep this chart as record. Not sure about the effect of budget 2009 to the currency. I am not trading the pair for now, but watching closely.
Trading Idea 11-May-2009: Short CHFJPY
I posted CHFJPY chart in chart.ly and twitter over the weekend. I saw a potential short setup. While CHFJPY is in the resistance zone, I am waiting to see if it stalls there before going short.
Though I have yet to see any immediate advantage of posting on chart.ly, it looks pretty interesting. I’ll try to post some charts there, but that’s only for experimental purposes. I prefer to to keep the ‘secrets’ here, on my own website. 😆
Anyway, here is the… CHART!
Update 07-May-2009
I did not take a single trade this week. This is partly due to a series of heavy weighted economic figures scheduled this week. The main reason is because of some urgent issues in family that need to be handled. I am still watching market in the early morning, and late night when I am available.
It really hurts to see your loved one in such bad condition. It hurts me more when I realized the fact that there were early signs and warnings which I did not pay enough attention and focus too much on my work and myself…Well, I am not going to write too much about this now. But, the fact is I am feeling bad now, both emotionally and physically. Anyway, life still goes on, I am not going to let myself be trapped in this situation.
Take a closer look at your loved ones in your family. They deserve more attention than you have thought.
Posting will be light to none this week, and I hope things will get into full swing next week. I will be active on my Twitter, sometimes, 140 characters work for me. If you are interested to listen my nonsense, and shameless/fatal market calls, follow me here.
Have a good week.
