I did not trade on Wednesday.Partly because of busy with non trading stuffs, and can’t find any convincing setup. Generally, Dollar is in recovering mood now, and looks pretty strong ahead of Non Farm payroll. People are expecting a strong payroll report. Well, to me, the rule is simple. I am watching closely but not trading any Dollar pair at the moment, until NFP is released. (uhm..guess, what am I going to trade then?) 😀

I am thinking to get the book Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game, if you have read it, please shoot me a comment.

I made two trades today. Long EUR/JPY which was later stopped out with -1R.  It was pretty choppy throughout the Asian session. Second trade was made during U.K session, Long GBP/USD.  It was a very slow and choppy trade. I left my stop loss order on and went to bed. I closed the position with +0.38 R around lunch hour of U.S session (2 am in Melbourne, Australia).

End the day with -0.62 R.

We have Aussie Interest rate statement released today. Most likely they are going to hold on with 6.5% at the moment.  General Election is coming soon, I am wondering what would the current government do with the economic rates and figures now. Interesting. :-p

I was not available to watch the market yesterday due to my busy day job. No trade was made. I missed the move of NZD/USD and EUR/JPY in the Asian afternoon. I do not incline to put on any day trade in Monday morning (Australian hours) as spreads are normally still in ‘holiday mood’, too wide to be stomached by day trader. Things will normally get back to normal when Japanese market is opened (that’s 10am in Melbourne, Australia).

Well, no trade, no R. Btw, my gut feeling tells me I will be living in the world where 1 AUD= 1 USD soon….uhm, time to plan for a vacation in Miami ? 😎

Another strong week for Aussie dollar (Stronger than I’d expected!). We are back to the 1989 high again. Lovely.  Well, are we looking at the high at 1984 around 0.97 soon? uhm..never underestimate currency market, nothing is impossible. Anyway, I will still day trade in Long position at the moment, but I will be a little bit stricter now. I am watching 0.8830-5 area.

Let’s see.

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Here is another pair that I am watching closely recently. EUR/JPY. I am going for Long position.

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