Tuesday, January 8, 2008

Trading Journal

The pound rallied today to 1.9826 but failed to stay there. It turned down sharply and I took the chance to continue shorting the market.

Identified the Daily Trend YES
Traded with the Daily Trend YES
Followed the plan YES
Profit Hopefully

And for the AUDUSD trade, trade closed off at a loss of 70 pips

Traded with the Daily Trend YES
Traded with the Intraday Trend YES
Followed the plan YES
Profit NO

The euro trade is still bouncing around. The action will probably happen tomorrow and thursday as the market awaits the ECB's rate decision.

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