moneyI don't really get surprised much anymore. In the world of trading, that is. Even if I have some money on the line and it goes against me, I simply shrug it off and move on. This last Friday, however, I was surprised when numbers from Canada were announced. Strong surge in CAD crosses across the board. While they pulled back quite a bit before close for the weekend, nonetheless the move left me largely speechless. I didn't even have a USD-CAD position opened but for some reason this situation bugged me.
I did have a trade there earlier in the week, though, just as described in the last post.
That turned out to be a nice and easy trade. Entry on the open, fairly fast 50+ pips. I'll see if it can be done again.
We updated our website. Here is the link.
http://www.spectrumforex.com/weeklycomments/10212007.html
Trading has been O.K., but without much conviction. My accounts are full of trades like these ones here.
Looks great, doesn't it? Well, in reality it's not. Positions are very small and they lack conviction on my part. I take them because the set ups are good and my methods “make” me enter them, but I'm somewhat blindsided by other crosses. In this example I'd like to see some weakness in GBP-USD. There isn't any so I can't bring myself to commit to serious trades in GBP-JPY. I know that each cross has its own life and I shouldn't be necessarily demanding a correlation. If a correlation happens it's a nice bonus. Lately, however, I couldn't see things this way. Mind funk of sorts.
I'm going to check if USD-CAD is ready for some bounce. I'm doing exactly what I did last week.
The difference this time is that I'm already in a trade, but also seek some 50 pips gain and risk about 20-30 pips.
Husar
