I did not trade on Thursday, the only setup I have was long USDCAD. However, the setup failed before Mr.Ben’s speech. By the time Mr.Ben talked about further rate cut, I was already in the bed during this hot summer night in Melbourne.

I took a Long AUD/USD trade on Friday. Not so good, end the day with -42 pips. Well… 😐

I received a couple of emails, asking about my trading approach, maybe some hints for them. Well, personally, I do not offer any trading course. And I do not intend to discuss the details of my trading with anyone, not even my wife :-). Basically, I am a trend follower, with a mix of dummy trading. Go long when the market moves up, and short when it is heading down. That’s all I can say. Read the charts on my blog, you can get the idea.

Talking about training, the only trading course I would recommend to my readers is Hector’s trading course. [update: Hector trading is no longer available, there might be some free downloads available on the net, but the I am no longer recommend his material due to lack of follow up ] There are similarities between our approach. And I am confident that his trading course will help my readers. Read my previous review. Don’t ask me about forex killer/cleaner/beggar or whatever, I have no idea about these black box things. :o:

It will be wise to spend your time in studying market, instead of searching for the ‘right system’ which will never be right :-p.

Ok, again, I am going to reveal a ‘trading secret’. ‘Go long when market goes up.’ Cool? 😀

Back to business. There were not too many opportunities today. I missed the short of GBP/USD, because I was busy having dinner :o: . I went long of AUD/CAD. Yup , again. I saw a stronger Aussie and weaker Canadian dollar. Exit the trade after waking up in the Melbourne morning before I am heading to work. Just a +25 pips trade.

Aussie is still looking strong, my gut feeling tells me it should continue moving for a little while. But well, too bad, I have to exit the trade now.

Here is the……CHART!

[photopress:audcad09jan2008_tradeclose_blog.gif,full,alignleft]

Listen carefully, I am going to reveal another trading secret for my readers. ‘ Escape when market does not move in your favor‘. Happy , eh? 😀

Back to business. A contrary to yesterday’s long watch list, I did not see too many opportunities today. I went long at AUD/CAD. But, heck, it just failed to continue moving and negated my setup. So, a -43 pips trade.

I am still watching AUD/CAD, my gut feeling tells me that I might get 2nd chance to go long again. But, hey, that’s my gut feeling, don’t steal it.

Here is the ………….WAIT, no chart. I only post beautiful charts here, so don’t expect to see my losing trade. :o:

Update of 2nd trade:

uhm…I went long AUD/CAD again during London session…And after a good night sleep (now is 7 am in Melbourne,Australia), around ending of U.S session, I closed the position with +12 pips or so. (Another reason of closing the position is because I do not have access to my trading platform in office)

Here is the…….CHART!

[photopress:2ndaudcad08jan2008.gif,full,alignleft]

If you really wanna know my view of Aussie now. Generally, I am still positive. But, for trading purposes, I have no position now. I intend to go long at the moment. Just waiting for the entry. Yes, I just can’t get myself to short Aussie dollar now. Without wasting too much time, here is the weekly and daily……….CHART!

[photopress:audusdweekly05jan2008.gif,full,alignleft]

[photopress:audusddaily05jan2008.gif,full,alignleft]