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Gav's trading blog - Perseverance, Consistency, Confidence

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Trading Journal

What’s going on? uhm…Dollar bee…Dollar boo..Dollar ah ah…

by Gav Leave a Comment

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]

About this tool

Filed Under: Trading Journal Tagged With: FX, Trading Journal

Weekend thoughts

by Gav Leave a Comment

I spent my day in church, shopping in Queen Victoria market,ย  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. ๐Ÿ˜† . 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 myย  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.

Filed Under: Trading Journal Tagged With: Trading Journal, trading thoughts

Be careful……

by Gav Leave a Comment

This is a non-trading post. I just lost my favorite cup. It has been accompanying me for the past 3 years. And my silly mistake this evening, I broke it. OK, that’s it. Go back to watch the market. Be careful of this chaotic week. Notorious U.S Unemployment report is coming this Friday.

[photopress:cup0005_web.jpg,full,1]

Take care.

Filed Under: Trading Journal

Is it time now?…uhm..

by Gav Leave a Comment

Yup, it is time now for me to have a break from currency trading. OK,ย  it is just an excuse. Basically, I do not find anything interesting or tradeable, well, in my definition. We are heading into a big week/chaotic week? My Sunday night chart scanning was a mess. I have a bunch of ugly charts.

So, I am going to let the currency markets adjust itself next week.ย  I might spend a little bit time scanning some Australian stocks, and play some NQ futures trading…

Have a safe week.

Filed Under: Trading Journal Tagged With: FX, Trading Journal

Update, short note, whatever

by Gav Leave a Comment

I was stopped out by a couple of trades this week. But, to maintain my Guru snake oil sales man status, I am not going to post charts of my losing trades here. ๐Ÿ˜† , remember, snake oil salesman never shows you losing trades. ๐Ÿ˜† Come on, just a bunch of charts that were stopped. You won’t learn anything from my losing trades. And I am a very superstitious Asian man, I believe posting too much of losing trades here will bring you bad luck and trade worse…LOL… ๐Ÿ™‚

The stopped trades this week, uhm.. maybe because of late entry, poor timing, I guess. I am finishing up my detailed journal for April. I am mesmerized by the good trades that I have made, and puking towards the crappy ones. ๐Ÿ˜† I made a couple of crappy trades this month, I know that. Over all, it is still a good month for me.

I am still very much interested in researching the risk management module. As couple of readers commented in the Variable Fractional Percent method, there are weakness in the model , for sure. Let’s see if I can come up with something over the weekend.

It is a long weekend in Australia. I guess I might not be trading on Friday.

Have a good one.

Filed Under: Trading Journal Tagged With: Forex Blogroll, FX, Trading Journal

Is it time now?…GBPUSD..uhm…

by Gav Leave a Comment

Last Thursday, we saw a sudden rally of GBPUSD, and we are now testing 2.0 handle. For trading purpose, I am looking at the possibility of riding the short term trend to around 2.02-ish level. Simple trend line breaking setup. Let’s see how it goes.

Here is the….. CHART!

[photopress:gbpusd20april2008_1.gif,full,1]

Here is the ….Trend score. We are still in the side way mode. So, risk of trading might be higher, but, as usual, it depends on how are you going to manage it. ๐Ÿ™‚

[photopress:gbpusd20april2008_trend.jpg,full,1]

About this tool

Filed Under: Trading Journal Tagged With: Forex Blogroll, FX, GBPUSD, Trading Journal

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