Uhm..before I forget again, here is your favorite trading secret ‘Always respect your stop’. …cool? 🙂

Darn! It was a tough Wednesday for me. I shorted GBP/JPY and EUR/CHF. They moved nicely initially , but stop me out around opening of U.S session. So, two losing trades, -2R. Forget it. Anyway, YEN is providing some trading opportunities recently, maybe , have a closer look during Asian session might give you some hint.

Tennis! Maria rocks! She was so cool and sharp on the court, and now moved into 3rd round of Australian Open.

I made a peanut trade today. I earned peanut. +10 pips :o: Oops, before I forget, here is the trading secret again “Go long when the market is moving up”. 😆

OK, back to business. I saw a nice long setup in Kiwi  (NZD/USD), I went long. It was moving pretty nicely, but the pull back in hourly chart was a little bit err….. anyway, I closed the position before closing of U.S session (8am Melbourne, Aussie time if you wanna know) and head to work. Uhm..a +10 pips trade.

Here is the …………..CHART!

[photopress:NZDUSD14Jan2008.JPG,full,alignleft]

Another trading idea comes out from my coffee cup. I see a stronger Aussie dollar. And EUR/AUD gives a shorting opportunity. What do you wanna do? Uhm…..

Here is the …….daily CHART!

[photopress:eurauddaily14jan2008.gif,full,alignleft]

Let’s take a closer look….

[photopress:euraud4hourly14jan2008.gif,full,alignleft]

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]