Another ‘ Trading while sleeping’ trade. I entered a Long position of AUD/USD around an hour before U.S session started, set the stop, and left it. I closed the position at the close of U.S session. I have increased my position size. End the day with around 41 pips or +0.89 R.
OK, here is the ……CHART!
[photopress:AUDUSD1hour_25Oct2007.JPG,full,alignleft]
Not so exciting. I Long AUD/USD , set the stop, went to sleep, and exit the trade at close of U.S market (which is 7am Melbourne, Australia). End the day with +16 pips, which is tiny +0.14 R.
At the same time, I am testing a new strategy in demo account, and hopefully the result is good enough to go live in the coming week.
ok, here is the …….CHART!
[photopress:AUDUSD1hour_24Oct2007.JPG,full,alignleft]
So I timed my Long entry poorly. I exited the position with 1 R loss. Basically, recent uptrend line is broken. Wrong now, wait for next entry.
Here is the ……CHART!
[photopress:audusd_daily22oct2007.gif,full,alignleft]
I did not put a single day trade this week. I watched the market, and nothing is really interesting so far. And there is a huge change in my day job. Chaos and disappointments. But life still moves on.
While I am figuring out what is my next step, I still continue trading. So far, we see USD is gaining strength throughout the week. But, I am still bullish about Aussie dollar.
I have just established a Long position of Aussie dollar (AUD/USD). Not day trading though. This trade should last for few days if not weeks.
Here is the…..CHART!
[photopress:audusd_daily19oct2007.gif,full,alignleft]
If you are trading Forex like me, you should have some experience searching of world clock or time zone on Google. What is the time in London now? Has Japanese market closed now at Melbourne time 3pm? Forex is a 24-hour market, and volatility moves along with major market sessions. So, it is handy to have a world clock sitting on your desktop.
I have been using Qlock World clock since I started trading Forex and Futures. Living in Asia, and now Australia, I need to be aware which market is opened when establishing position.
Qlock World clock allows you to set up individual clock for each city of your choice, and even setup alarm. (So, not only for trader, you can use it to make sure you ring your love ones to say ‘Good morning, darling’ at the right time 🙂 ). Here is the snapshot of my desktop.
[photopress:Qlock.JPG,full,alignleft]
There are free and paid versions of Qlock World clock. With only $14.95, the professional version comes with Integrated RSS feed reader, Daily FX rates, Sticky notes, Automatic program updates, Multiple desktop profiles etc. Check it out.
There are some changes in the project management of day job. Some crappy news are coming. Basically, it is kinda affecting me. I am not in good condition for trading. So , no trade on Thursday.
