"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Monday, January 4, 2010

4 Jan - First Trade of the Year Aud/Usd

Very short trades today. i never really see a longer-term opportunity at that moment when i sat down after going thru some news and announcement that will be out that day, at least not to me. when i sat down was 9:30pm singapore time, which is about 8:30am into New York session. seems like most major im watching are forming a wide stretch of daily candlestick.

Based on momentum, i actually did a long on aud/usd, targeting small. it is forming a smooth uptrend. juz dat my target is pretty much close 0.9100 - double zeros, for the day. not much action when i enter, and slowly drag to US ISM Manufacturing announcement. Good forecasted, but based on my trading journal i kept, this announcement on December causes price to dip a little but does not bring much impact.

As i can't oppose my on-going trading pair, i shorted eur/usd prior to the announcement and bring in short scalps off the news. of course, aud/usd follows the dip, i average in my first trade. started scaling out the two trades and closed for the day. price is still spiking up in aud/usd. let's keep watching. sweet trades for first decade. (+21 pips)


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