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. 😆 , remember, snake oil salesman never shows you losing trades. 😆 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… 🙂

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. 😆 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.

I started the the week with bullish view of Euro dollar. Since it was testing historical high, I did not jump in immediately. After the sell-off gap in the Monday Asian session was filled, I went long with extremely small position size. Yes, it was extremely small. LOL 😆 . Heck, I was stopped out sometime around Tuesday London session. Cost me -1R… I was still bullish, and I WAS looking for another entry opportunity..but AUSSIE dollar caught my attention, so instead of proving my view of EURO , I switched my attention, and capital, to Aussie.

What can I say? Gav knows how to trade Aussie dollar! 😆 Just kidding. But I feel extremely comfortable, and confident trading Aussie dollar. :-), this is yet another 100 pips Aussie trade.

Here is the…..CHART! Yet, another snake oil style chart. I have no idea why John did not include me in his snake oil salesmen category. I have working so hard to produce this type of trade/charts… Can somebody talk to John about this 😆

[photopress:AUDUSD16April2008.jpg,full,1]

Another trade was a Short position of GBPUSD. My target was kinda far. I was looking at the break of 1.96 level. (Was I too ambitious? Uhm….let’s see) I bailed out the position on Wednesday right before London session began as the spike of GBP did not impress me. I decided to bag the small profit and RUN!! 😆

Here is the …… CHART!!

[photopress:GBPUSD16April2008.jpg,full,1]

By the way, I am applying Variable Fractional Percent method for my money management recently. I will try to write up something on this topic later.

What a day for EURO! Just as I thought it might be a boring day, I saw something was cooking in EURUSD chart. I went long during London session. This is a classical text-book style setup. OK, again, it is Trader Gav’s text book though. 😆 My plan was to catch the ride when it tried to test historical high again. So, I was looking to exit the position some where at mid 1.58-ish. Yup, it was mission accomplished. I forget the number, I think this is another 100 pips trade. (Maybe I will update the figure after getting my journal done.)

Here is …… commercial-class CHART! looks like a snake-oil trading course advertisement now. 😆

[photopress:EURUSD09April2008.jpg,full,1]

Monday, I had a couple of currency pairs in my box. Generally, I am bullish about Aussie dollar, EURO, and kinda bearish about GBP. I went in for long positions with EURUSD, AUDUSD, and do a intraday short of GBPUSD.

GBP trade was a crap. It was a bad-timed entry. Nothing to write home about. I got -1R on this, smaller than normal R-sized for this trade though. EURUSD was a surprise. I was thinking the trade might be going nowhere, but heck, profit target 1.5800 was achieved during Tuesday asian session. Not too bad for a night’s work, around +90 pips profit. 🙂

Here is….CHART! another trading course commercial-like chart. 😆

[photopress:EURUSD07April2008.JPG,full,1]

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]

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