Christmas Week Trading Results

Between the thin trading volume and the holidays there wasn't a lot of opportunity in the Forex markets this week.In any case, I did manage to eek out a 7.5% gain in net asset value.This has me thinking. If I was to build up an account balance of approximately $20,000 and maintain gains of 5% or more per week then I'd probably be able to think about quitting my day job.This task seems

Thin Trading Resistance Test

I'm not sure how significant technical events will be with thin holiday trading. However, the AUDJPY tested the long term resistance mentioned in my previous post.As I write, this pair has been slipping down after what appeared to be a sustained break for several hours (at least according to my chart... over such a large period of time small inaccuracies could lead to misinterpretation).Which

Post Holiday AUDJPY Strategy

Though trading is probably going to be thin until we get into January I think it's a good time to consider trading strategy.In the short term I expect the following:A test of the long term resistance line showing up on the daily charts from around October 14th until now. This could take place around 62.10 to 62.20 depending on how long it is before the test happens.I'm not sure it will happen,

3:00am AUDJPY Upswing

Once again, upon waking in the very early hours, I was able to catch an upward movement in the AUDJPY.Though the price did come back again around 5:00am and 6:00am, I certainly wouldn't have been awake to catch those moves.So, strange as it is, I unloaded my positions to the tune of a 1% gain in NAV (Net Asset Value) and went back to sleep all squared away.Happy trading! Zzzzz.

A Pop And A Drop

In my last post, where I gave an audible AUDJPY signal, I suggested that we were coming up to a decision point for the AUDJPY.My take was that we'd see a drop.It took some patience, but after carefully accumulating a few positions on the way up I was rewarded with a nice quick profitable drop. While I would have done better playing for the pop and keeping an eye out for signs of a drop, I really

AUDJPY Signal

Okay, this isn't really a signal, but what the heck. It looks like the AUDJPY is positioned to head downwards on the 3hr, 1hr, 15min and 5min charts.Yes, yes, I know. It doesn't actually mean it's going to do that. However, this does mean it's a good time to do your own technical analysis and see whether you see a reversal or a breakout.Either will do.

Adjusting My Risk

Though I'm very happy to report great earnings progress it also makes me nervous. Not only are my these recent gains a hard act to follow but now I need to adjust the size of my trades.Enter the arena of trading psychology.Trading larger amounts let's you see losses and gains adding up faster. It's harder to resist the emotional forces generated.So far this week I've been a bit hesitant and