10.20 am GMT
morning gang ........(i also refer to other sites and forums) ok a little messy so far today and a gorilla in the room as well....... Core Pairs with yen and usd swinging bear / bull so far since london opens i have mainly focused on selling europeans when offered as they were predominently bear ....... cable sold from 3120s to 3100s earlier........and sold it off again recently from same price levels from 3120s to 3110s approx again .................could have scalped it north in between but was not convinced.............. sold 1430s to 1410 so far EU sold 130.00 to 129.70s so far EJ Others a large CAD gorilla in room today .........its already 40 pips up from london opens .... tempting sells from 3110s down to 3090s so far on Ucad ....but you can see getting only 20 pips off a 40 pip Cad index move means usd is also swinging a lot in correlation with its Cad partner...other cad pairs better (but spreads worse)..............im happy to stay bear on europeans at moment
10:55 am
able still selling ok on bounces......been back on it from 3130s AGAIN down to 3100s again Europeans are Still weak sell them
16:04 pm GMT
been waiting for that GBP bull phase to stall following the dow opens........
finally got back in at around 3126/27 to resell cable
16:08
3112 ....nice start
16:11
taken 3109 as im nervous
17:10
ive been selling europe all day as stated and someone asked me why .........
well because my more bespoke strengthmeters (tuned to my style) were pretty good on showing me to sell them .......a little bit of discretionery decisions in the mix .....but after 20 years im not too bad at seeing where the best opportunities are .....
then i sit on say EJ EU and GU and wait for best signals to sell them
heres Cable ...........on a 5min from 6am GMT............and ive signalled up the sell phases
its not rocket science is it ...........all of the thousands of indicators and patterns and other magical systems we use will recognise when a price is falling (including my systems)
around 5 phases ..........i havnt called them all here today as ive been busy as well
and thats it .........no magic beans ....no astrological signs....just common sense approach to finding the best trending currencies and then going for the direction on decent signals
simple ?.......maybe
effectice .....yes
profitable .........yes over time and as long as you have the other 95% of the traders skills required working well ...........its not just about guessing directions and entry prices .....
today has not actually been that good a day .........the G8 correlatoin patterns are pretty average ....but i still did just fine ..........there will be much better days ...and if the days are worse i will hopefully only trade minimally and not give a way much ....
the secret is having a tight defence and minimising losses on the bad days and absolutely creaming it on the good days !!!!
N
