Ok, I was too busy enjoying dinner at a nice Korean restaurant in Melbourne downtown, and watching Australian Open. Ah..Andy Roddick is out! :o: So, No trade again, on Friday. Anyway, I had a tough week, so I chose to stay away from market for awhile.

I exited a swing trade position AUD/USD last week. I have no idea what’s wrong with the kangaroo. Darn! The weaker USD doesn’t help. But, again, I am still NOT turning bearish. We might again trapped into a trading range. Ok, I am not a perma bull of Aussie dollar, but, I don’t see the bear coming just yet. Maybe I am blind. Let’s see. So now, I am applying ‘wait-and-see’ approach again

Here is the…….CHART!

[photopress:audusd18jan2008daily.gif,full,alignleft]

How’bout some Kiwi? I day traded NZD/USD with some peanut profit. The trading range continues. I am staying neutral at the moment.

Here is the….CHART!

[photopress:nzdusd18jan2008daily.gif,full,alignleft]

Here is the trading secret: ‘Never chase a trade’… enough ? 🙂

GBP/CHF and USD/CHF were in my watch list today. However, the market decided to run away without me. So no trade for Thursday. Well, It is not a bad thing. It is always good to give myself some time to cool down after a losing day. Anyway, I was enjoying the Australian Open! Ana Ivanovic rocks. Basically, I would say Serbian players rock, they are playing pretty well recently.

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.