Bottom Spotting the USD/CAD

Down and down it goes, where it will stop, nobody knows.Just how low can the USD go compared to the CAD? Parity is an option. Below parity is an option. However, there have to be some fundamentals that come into play here. The amount of trade between the USA and Canada is huge!Traditionally, the USD has always sat above the CAD.Anyway, I'm not sure parity or below is realistic. I'm starting

The EUR/TRY Carry Trade

I'm dabbling in the EURTRY carry trade situation.Due to the difference in interest rates you can pocket a bit of change as long as you maintain your short position. Obviously, however, nothing is free. The EURTRY market has a lot of volatility complete with sharp price spikes on the order of 1500 pips!This means that you cannot leave a position completely open or you will risk the value of your

Result Signal #12

Result from Signal #12 :Buy Limit Gbp/Usd at 2.0180, TP at 2.0290, SL at 2.0140 = -40 pipsProfit = -40 pipsSept Total Profit = -42 pipsAccumulate Total Profit = +393 pips.

Result Signal #11

Result from Signal #11 :Sell limit Gbp/Usd at 2.0315, TP = 2.0225, SL = 2.0335 = -20Sell stop Gbp/Usd at 2.0255, TP = 2.0225, SL = 2.0295 = -40Profit = -60 pipsSept Total Profit = -2 pipsAccumulate Total Profit = +435 pips.

Result Signal #10

Result from Signal #10 :Buy Limit Gbp/Usd at 2.0260, TP at 2.0355, SL at 2.0220 = +95Buy Stop Gbp/Usd at 2.02370, TP at 2.0400, SL at 2.0330 = 0Profit = +95 pipsSept Total Profit = +58 pipsAccumulate Total Profit = +495 pips.

Signal #12

Buy Limit Gbp/Usd at 2.0180, TP at 2.0290, SL at 2.0140

Trailing Stop Strikes

Well, whether it is a small correction or not I have no idea, but the USDJPY has gone down enough to remove me from the market. So, my profits have been pocketed and I need to look for opportunities to get back in.The same is true for my AUDUSD holdings.I'm starting to look into the USDCAD, in the long term, but there is always the risk that the US dollar will take a dump when the Tuesday

Riding the USDJPY Train

Well, imagine my surprise to wake up to a hugely profitable swing in the USDJPY.It's too bad that I wasn't awake during the action. I could have increased my position on the way through and grabbed stupendous gains from it. Anyway, I cannot complain, as I've added almost 10% to my account.Isn't it great when you accomplish great things in your sleep?Of course, I should note that I did have some

Analysis for Gbp/Usd based at Eur/Gbp pair

Yesterday, we saw a different movement for Gbp/Usd and Eur/Usd. Eur/Usd has broken its highest level resistant at 1.3849 which was reached at 24/07/2007 but Gbp/Usd didn't do the same thing. Gbp/Usd just sit between level 2.0286 - 2.0363. We can check the Eur/Gbp pair to see what is going on between both of currencies.From the attachment picture, we can see that Eur is stronger than Gbp in this

Signal #11

Signal #11 :Sell limit Gbp/Usd at 2.0315, TP = 2.0225, SL = 2.0335Sell stop Gbp/Usd at 2.0255, TP = 2.0225, SL = 2.0295Gut luck guys!

Minimal Participation

Sure, you want to have as much capital as possible involved in an upswing, but it's painful having a stake while the market slides.Unfortunately, you have to keep dipping in your toe. At the apparent end of a long slide, or when a correction appears to run its course, it's time to dip in that toe. What happens when you end up tossing your coins into the fray and the market rejects your advances

Riding the AUDUSD Upswing

I've been riding the recent AUDUSD increase.Now, I have some competing issues on my mind. As the AUDUSD hits new highs I have to worry about corrections. However, if this instrument is going to continue rising, I'd hate to not maximize my participation. See my previous post about having to play to win.Anyway, while a more experienced Forex trader might not have to "figure this out", I've

Gun Shy

I'm still a little gun shy.I see little dips and corrections, which is only to be expected, and my stress levels go through the roof. That's what I get for playing across the recent job reports news last week.All I can do is remind myself of various cliches. You have to play to win. No risk no reward. Buy low sell high. No guts no glory.I suppose all this concern is healthy. It will

You Have to Play to Win

Well, now that I've exited most of my positions profitably, I'm paranoid. What if I put in some more cash and the market takes another massive dump? Heck, it has been a long upward run so I'm sure a correction is brewing at some point, right?You have to play to win.If I sit on the sidelines and fret away the day I'll get nowhere. What I need to do is participate in a guarded way. What I

Every Day Feels Like Sunday Baby

I don't know if you'll remember it, but there was a commercial on CNN a while ago that had this song. It would talk about stocks, making money and how great trading the NASDAQ was. Something like that anyway.Well, when the markets are moving in your favor, every day feels like Sunday.Yes, indeed, my pip grinding slogfest has been ongoing since Friday, but things have improved so much since then

Grinding Out the Pips

Well, I've been grinding away at my open positions. Catching the tops of candles and buying in again at the bottom. I guess that means I'm fairly good at reading the short term charts with respect to top and bottom behavior.I've got several dozen trades in the past couple of days. It's probably a little too much work to bother transposing all the data.Suffice it to say that I had some

Signal #10

Buy Limit Gbp/Usd at 2.0260, TP at 2.0355, SL = 2.0220Buy Stop Gbp/Usd at 2.02370, TP at 2.0400, SL= 2.0330Good luck and Happy Trading!Update 12/09/2007 : I still hold my position and change TP at 2.0440. Eur has already broke high so I think Gbp will follow in a short time.

Result Signal #9

Result from Signal #9 :Buy Limit Gbp/Usd at 2.0270, TP at 2.0360, SL at 2.0230 = + 45 pips (close manually at 2.0315, see my warning at shoutbox)Buy Stop Gbp/Usd at 2.0330, TP at 2.0360, SL at 2.0290 = not executed (high yesterday was 2.0329)Profit = +45 pipsSept Total Profit = -37 pipsAccumulate Total Profit = +437 pips.

MTF BBands_Stop Strategy

This strategy is based at MTF BBands_Stop indicator and I have found a trading system based on it. This simple strategy is similiar with "Simplicity" which can be found in my previous post here but this is more precise for short term / intraday trading. It can be used for trending or sideways moment but you must learn to find out the pattern for that first.Download the zip file here, extract the

Signal #9

Buy Limit Gbp/Usd at 2.0270, TP at 2.0360, SL at 2.0230Buy Stop Gbp/Usd at 2.0330, TP at 2.0360, SL at 2.0290Gut luck, guys :D

Result Test #8

Result Test #8 :Buy Limit Gbp/Usd at 2.0180, TP at 2.0260, SL at 2.0120 = 0 (closed manually)Sell Stop Gbp/Usd at 2.0170, TP at 2.0140, SL at 2.0210 = -40 pipsBuy Limit Gbp/Usd at 2.0140, TP at 2.0260, SL at 2.0120 = 0 (not executed)Buy Stop Gbp/Usd at 2.0220, TP at 2.0260, SL at 2.0180 = + 40 pipsSell Stop Gbp/Usd at 2.0260, TP at 2.0220, SL at 2.0300 = - 40 pipsBuy Stop Gbp/Usd at 2.0275, TP at

Trading Begins in Three Hours

Not that anyone is counting.Anyhow, I'm looking at my account report and I've noticed that I don't seem to be accruing any rollovers. Perhaps this is a feature of a trial SuperMini account as compared to a standard account?I'll be forced to look for a new trading partner that doesn't penalize small accounts if that is the case.

Trading Begins in Five Hours

Given the recent news based rout of the Greenback I am expecting some heated trading and movement when the markets reopen.Everybody has had time to fully digest the news. Everybody has had time to analyze their charts to the Nth degree.I'm going to step out on a limb and predict some short term rebound in US currency. However, at the same time, the recent volatility might put some fear into the