moneyThere is an espresso stand in the neighborhood that carries this name,
“Daily grind”. While I don’t drink coffee or related beverages, I see this shack very often. The name is very indicative of what trading is all about.
There really is very little glamour. In order to get ahead one must not only avoid catastrophic losses but have enough winning trades to cover the losses and move forward. For most people who trade for a living that amounts to trading every day or just about.
And that’s just how this week has been, nothing extraordinary but steady trading, some good some not so. In my last visit to this pages, I had a trade in AUD-USD to the downside. Market turned against me and I dumped the trade for -22 pips waiting for better entry.
Next day I went short again. This time AUD really surprised me. While the trade made some gains, AUD was not selling as fast as other currencies, so I took 26 pips profit and left it alone. AUD-USD picture is very unclear to me at present.
In fact AUD started to behave strong enough that we went long AUD-NZD with good results. You can read about in our website latest update.
My other picks turned out better. I had a good trade in NZD-USD, where I netted 68 pips. Over last few week I’ve managed to do well in this pair.
Here is another one of my currencies of choice from last week, GBP-USD.
This one was very good indeed, of smaller time frame. In a short order made me 128 pips.
Looks like I’ll be concentrating on the same currencies over next few days, with likely addition of EUR-USD. Some life seems to be breathing back in there.
EUR-JPY and GBP-JPY are also on a watch list to the downside.
That’s how it goes- the daily grind.
Husar.
