Plans of mice and Men……..

Last week has been one helluva week. This week showed me how best laid plans of mice and men can go awry. All my usual gambits of forex trading that work in  normal times  failed miserably, and red ink splattered over my trading balance sheet.
One learning has been : avoid those fast and cutthroat moves of pairs. They lead to sorrow.
The slow, involved and very boring moves are where the money is.
Fast furious and exciting lands with losses
Slow tedious and boring lands with profits

Start of a vacation

Finally some forex pairs had their pre-holiday swings over last two days.

USD/CHF did a 150 pips fall, after showing some clear signs of topping in the 4 hourly chart.  Even the vacation volumes - which can spoil intra-day signals with lot of noise, did not deter the trends established in the 4 hourly time frames. All the technical criteria were met like clock work. Euro tried to ape CHF but was not as successful.

USD/JPY and GBP/USD did a smaller tango of their own with clear signals.

I was always afraid of low volume noise but some how at little longer time frames it does not matter.  Good to see that.


Meanwhile Indian stocks did a rocket dance and just whooshed up in the blink of an eye lid.  Pressing an enter key took more time than it took to go up 150 points, so naturally the scared yours truly did not dare to enter.

Now of course is the time to relax and I plan to stay away from the computer screens for at least a week.

Hope the next year leads to lot of action in the markets.

A merry christmas and a very happy new year to everyone.

Nothing is happening

With everyone in holiday mood the markets are going sideways. Nothing is happening. But I have seen before that this normally is the calm before the storm. Something is going to give soon, even if not to change the daily trends certainly big enough for a correction to the daily averages, and this may be the time when USD/CHF may make a violent move to do so.
Waiting and watching, patience may pay.

A nice week ends

One of the few occasions  where I am feeling a bit sad that the trading week is ending.

The challenges of trying to be on right side of the market, most times sap one's energy. And making a few wrong trades makes it especially tiring.

This week some how went like a dream. Anything I touched and the market said 'come with me for the ride'. And what a ride it had been, no roller coaster at all, but one smooth ride, get in -  get out at the destination with the pockets a bit fuller!!

Wish I have many such dream weeks.

To all those reading this blog, or those not aware of my existence - have a nice week end.

Nifty

Nifty is still recovering from a weekend hangover, and I thought it will come back with some renewed vigor after a nice break!
It gives good signals of wanting to move up and then fails a genuine signal. May be it is telling that it is tired; will be interesting to see what it does over next couple of days.

Bane of Emotions - II

Carrying on the conversation about nifty, since last two days, nifty has become quite rudderless. Thankfully I am emotionally calm and more importantly sitting on the fence. Nice position to take a world view (!) or if you are truthful saying ' not sure - what is happening'.
Any ways Monday may decide the fate of the markets for the short terms atleast.
Till then am going to enjoy a nice and lazy week end.

Euro/USD and USD/CHF

Euro has been trying to change its daily trend for some time now. It has gone down a long way and I am expecting a correction over next few days even if for going down in the overall state of the trend. I am buying Euro, believing it will go up to at least 1.4900 over a couple of days. Let us see how this works out, as only time tells the truth, everything else is guess work!

CHF of course is mirror reflection of EURO most of the time

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Bane of emotions

I have been trading for a long time now. Today was a day when emotions took over sound logic. We had a few nifty futures positions built yesterday. The positions were doing fine, they still have not given a signal to jump the ship but i did. The way euro and other currencies were going down and the so-called risk aversion that all media are hyping about cracked my resolve and there I am sitting now with no position! I am quite sure tomorrow it will jump up, now that it knows I am not there for the fanciful trip. If I get a chance to board it is gonna be at a higher price making me jittery. Hope I do not repeat this again.