TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Trading Journal

Weekly wrap up

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This is the week of USD. And this is the week of President Obama. IHF (read: I-Hate-Forex) system ran wild with Long USDCHF, Long USDCAD, Short EURUSD, Short AUDUSD, Short NZDUSD (after long NZDUSD stopped). All winners. All positions are closed. Some signals were deliberately ignore on Thursday session, as yours truly, the brilliant Trader Gav felt dollar was over extended, and refused to take on any risk to Long USD. 😆

Pretty quiet week for RDT (read: Really Dumb Trend) system. I have two signals at the end of Thursday U.S session. Short AUDJPY, short EURJPY. Something fishy going on with Yen. Yen is notoriously naughty to my systems. So, only AUDJPY position is taken with small size. So, right now, I am short AUDJPY.

Outside trading, my day job is coming to the end soon (bad timing huh). So I am actively looking for next project. In case you are interested to know, I am a very experienced Billing systems consultant (IT) for Telco or cable companies. Let’s see which country I am flying to later. It is not a surprise to see companies are struggling with budgeting problems, I expect a little more difficult to seal any deal. While confirming my next project, I am focusing on my automated trading system development project.

Life still goes on, trading still goes on well. Let’s see what market is to offer us next.

Hope you had a good week.

Step back

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We had some good runs in most of dollar pairs. I closed all my long dollar positions today. There were two new signals today to long USDCAD, and short NZDJPY. I left them out. Right now, dollar’s appreciation seems to be over extended, to me. Well, I am talking about short term. As much as I would like to trade again, I decided to sit on my cash right now. I might be wrong and missing opportunities, but, I feel today is a good day to step back, or take a break.

Probably, spending some time to watch Australian Open is a better idea. 🙂

One Aussie trade

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Here we go. Another trade by IHF (read: I Hate Forex) system. AUDUSD short trade was triggered during Tuesday morning london session. Final profit target was hit, since I bailed it out at 0.65 level. Another nice shot, nice short. +111 pips.

Here is the chart to inspire you. Making good trade is good for your health, I reckon. 😆

aussie_ihf_trade

One Kiwi trade

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IHF (read: I Hate Forex) system went long of NZDUSD on Monday, and it was a crap. Stopped. And It went short on Tuesday. Another +130 pips trade. Nice short. Exited the trade at 0.52-ish level. Well, I maybe wrong, but who cares. Let’s wait for next signal.

Here is the chart to inspire you, my little trader.

kiwi_ihf_trade

Weekly wrap up and some rants

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This is a relatively quiet week for RDT (read: Really Dumb Trend) system. It does not generate any signal until closing hours of Thursday U.S session. Short signals acrossed the board. I am currently shorting EURCHF, AUDJPY, Long USDCHF. I shorted EURJPY , unfortunately, got stopped out. I did not take another EURJPY short trade after judging my exposure to Yen and EURO now. I feel YEN is going to create trouble for me again.

Another system (I haven’t named it, let’s call it ‘I-hate-forex’ system now 😆 ) is running in live account now. But, in micro account at the moment. I can see a lot of improvements to be made. Right now, it is long USDCAD, and short EURGBP. Looks good. It shorted USDJPY which was a crap. Yen just doesn’t synch up with me.

Anyway, crazy people are still Long USD, so I had to long USD in order to make profit from trading. Although, it is still stupid to hold USD, I reckon. 🙂

No doubt, I am a trend follower. Long term, or short term. I just can’t , just can’t , just can’t and again, just can’t do contrarian or counter trend trading. I don’t have the mentality to trade in this style. I can give you some fancy technical analysis rubbish to show you reversal is coming, but I will fail miserably when trading them. That’s just me.

Anyway, process is still slow. Trading is still not really taking off for year 2009. I have to work harder now.

Other side of my life. My day job is not stable (well, in fact, it has never been..:lol:). Rumours are nothing but budget tightening again. I am not sure if I will still have my job next month. In fact, nobody knows. Let’s see how it works out. This is out of my control.

By the way, did anybody open the dam of Twitter? I can see a spike in my twitter followers. Welcome to my world.