Finally we see a breakout of Aussie dollar. I was long since yesterday, but was stopped out. I entered another long position today after the release of the much expected interest rate raise.

[photopress:Aussie08aug2007.PNG,full,alignleft]

I went short on USD/CAD since yesterday and held overnight. Though both Aussie and looney trades are winning trades, I grade my own performance rather poor. I lost my patience to hold on winner. (Good old problem again). The fear of losing profit affects my performance and limits my profit. This is something that needs to be overcome.

[photopress:USDCAD08aug2007.PNG,full,alignleft]

When will I ever correct my bad habit of exiting a trade too early? Fool. I made two trades today. Aussie started to bounce. A nice one, while looney started to tank again. Another nice one. I managed to grab some profit from short position of USD/CAD, +0.65 R, while break even from Aussie dollar.

Two good entries, but two bad exits. Oh well…what the hell were you thinking, Mr. Gavin?

[photopress:ShortLooney06Aug2007.GIF,full,alignleft]

[photopress:LongAussie06Aug2007.JPG,full,alignleft]

I thought it was going down, but it did not.

I thought it was going to bounce, yet it did not.

That’s my comment for Aussie dollar. I do not initiate position just yet. I would prefer to watch the price action a little bit longer. Overall, I am positive on Aussie dollar trend, at least for now. (You’ll never know, I might go short tomorrow 😉 )

[photopress:audusd_daily03aug2007.gif,full,alignleft]

Here we go. How about some Looneys? I am tempted to go short. What do you think? Let’s see how it goes.

[photopress:usdcad_daily03aug2007.gif,full,alignleft]

Sounds familiar? yeah, I am copying Maoxian’s Stock du jour and random observations idea. I thought I will just post one or two trades of my Forex trades for the day and give some comments.

Ok, today I am being ‘Un-Australian’. I shorted AUD/USD in the early Melbourne morning 😉 I was looking at daily chart where Aussie failed to do too much rebound. Switching to hourly chart, and some simple dummy patterns seemed to be forming. Here is my trade today. Nothing fancy, just +1.2 R gain.

[photopress:01Aug2007_Short_Aussie.JPG,full,alignleft]

To suit my time zone and style, a couple of pairs that are currently in my trading basket. AUD/USD, GBP/JPY, EUR/JPY, and USD/JPY. It is pretty obvious, I am focusing on Aussie and Yen pairs. There are some market movers for Yen pairs, so, in fact, there were dummy trading opportunities in most of Yen pairs today.

This is just the start. Kinda experimental. Well, at least, I start trading again. 🙂

No comment at the moment, just watching Aussie development for the coming week.

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