We have stronger Yen across the board last week. (That’s also the mistake I made by neglecting it last week.) Anyway, what I have in the box now is, not to go against Yen at the moment. I have a look at YEN futures. What a strong presentation.

Clearly, I do not have any medium term (some of you call it swing trade) candidate at the moment, since Dollar and YEN has been running extensively for the past two weeks. I will be watching out for day trading opportunity if there is any throughout the week.

Here is the …trend score

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Here is the….CHART!

[photopress:6J_YEN_FUTURES.jpg,full,1]

13-March-2008 , Sunny day, 23 degree Celsius. Melbourne Australia

It was a good day for Euro. But, I made a wrong choice. Well, at least for the trading result, it was not pleasant one. I was looking at EUR/JPY. The fact was, I neglected the strength of Yen, and at the same time missed the entry opportunity of EUR/USD. At least, I exited the market perfectly, (in other words, I was stopped out! 🙂 ) I guess, I watched too much TV. You know, I’m a big fan of Hong Kong soap dramas. 😆

Kinda crappy day for me. I was working crappy I guess. 🙂

This post is just a trading rambling. I wanna write down what’s going through my mind at the moment.

12-March-2008. Sunny day , 22 degree Celsius , Melbourne, Australia.

I have some trading problems. With result of February’s trading, I have achieved breakthrough of my equity and confidence. And, so far, I continue to be profitable in March.

I focus on the equity curve and focus on making new high of it. I am afraid of losing. Not even a dollar. I start to shorten my trading time frame. Trapped myself with small profit. Changing my stop level placement method (tighten my stops), and scratched some trades, chickened out some trades. I have totally ignored quality of each trade. With all these, I am still profitable. Crap, that’s the problem. This is not Gav’s style. This is a loser’s style. Do what you are good at, do what you believe in. Come back!

Forget about the new high of equity curve. Going back to your R-multiple graph. Work hard on making better trades, bigger Rs profit. Equity curve will follow when good trades are made.

OK, enough. I think I am awake now.

About this tool

Today is Labor day (Public Holiday) in Victoria, Australia. I have the luxury to follow through Asian market. I see some weakness in Aussie dollar, I went short AUD/JPY. But the market did not follow through after London market open. Anyway, end the day with +1.25 R. Not a great trade, but not so bad to start the week.

In case you have not already done so, go check out March 08 issue of Currency Trader Magazine.