Taking a Break.....

Had a rare opportunity to sit down and listen to a professional Futures trader talking about what he does in his everyday trades. Pretty interesting stuff, and he sure did light up a few light bulbs in my head.

I am going to take a break from FOREX trading for a while, and re-strategize my approach. No, I'm not going into Futures, but a lot of the stuff that he talked about is applicable to most financial markets. After all, a chart is a chart is a chart.........only the title is different.

CHF.JPY

Closed this trade for a profit

Trading in Multiple Markets

Sometimes it can be frustrating to wait for DAYS for potential trade setups. This is the time when we can have tendencies to "force" trades i.e. seeing setups that just aren't there.

To solve this "trading itch" problem, I trade other financial instruments as well.

Besides FOREX, I trade stocks (and sometimes Options) that are listed in NYSE & NASDAQ.

I trade stocks a little bit differently than FOREX, though -simply because stocks have different nuances (or soul) that are somewhat unique.

For instance, stocks have volume, which can be a powerful indicator when combined with other confluences.

I also notice that it pays to analyze what the general market is up to, via index analysis (I prefer to use the NASDAQ chart instead of Dow or S&P500).

You can view some of my stock trades here, whenever you're bored with FOREX.

Enjoy!

EurCad

This trade was stopped out.

I think I'm beginning to be a bit sloppy in my trade selections. I need to be more picky the next time I assess potential setups.

New Trade

Eur.Cad

Nicked by News

Trailing stop was hit for a small loss during News

Getting ready for news blast

Aussie news will be out soon. Moved my stop to limit my loss, should the news move this pair upwards.