I’m already in actually since 226.28 and we are looking at 227.90 area today given all the news items comes as expected or better for GBP.
Update: Target hit!
Filed under: GBP/JPY
December 26, 2007 • 5:06 pm 0
Trading wisdom for the holiday season.
“When everyone in the world is wrong, they’re probably not.” – Just imagine all the Economics of the world is telling USD should go down and it just shows you a rebound.
“Never Underestimate the Predictability of Stupidity.” – You placed an order on Christmas Eve and made some nice profit but closed the trade at -40 pips due to the fact that your broker was not taking orders!
“The horse is dead, get off of it.” – You watched the trade develop and waited for confirmation… now it has confirmed… (and usually a confirmation means the trend has ended because now everyone will be going the same direction so trend will reverse) so get off of it! Universal trend confirmation means EXIT Signal.
“Well, I guess what I’m trying to say is, you’re three standard deviations from the norm.” – Self explained.
“What goes around comes around” – Everything that has started deviating from 0 standard deviation will try to come down to 0 standard deviation. So if the Price has moved 400 pips and deviated from 0 standard deviation then it (not the price) will come back to 0.
“Life is a bitch, be the pimp of it!” – Don’t follow your system let your system follow your gut feelings! If your guts are going short and your system is going long… well you will still follow your guts more than often and lose money by trading against the system. So if your go with your guts but make sure your system followed your guts as well.
Filed under: Uncategorized
December 21, 2007 • 7:18 pm Enter your password to view comments
Protected: 2 Years Anniversary of being a Fx Trader
Filed under: Random Thoughts
• 10:08 am 0
EUR/AUD forming a nice trade setup
Even though I’m not going to take this one but E/A got the legs to travel another 100 pips or so. On Daily it has already broken the channel and has plenty of room on H4 channel to move south. More importantly the Standard Deviation is on the rocks. I treat my demo account as importantly as my live, so I’m in a demo trade to see if this strategy would pay off or not. Already +70 odd (entered at the median)
Much safer trade compared to other pairs today.
Filed under: EUR/AUD
