Trading software

Thursday, July 26, 2012

Forex trading EUR/USD, Marathon running training

I've just bought the Euro against the dollar at at 1.2153 with a stop loss at 1.2042.

No, I haven't changed my long-term view on the currency and I'm still not too keen on it but in the shorter term, I think we've come to the end of a little bear run and we may see a small bounce. This is a new strategy I'm trying and it's based on something I read in this book:  Mastering the Trade, Second Edition: Proven Techniques for Profiting from Intraday and Swing Trading Setups.
Only using small stakes - I'll see how it goes and report back when I'm stopped out or when I take my profits.

Sometimes it's hard to back against your macro view (mine is that the Euro will slide further) with a micro view bet and it somehow feels wrong for me to back the Euro right now but nothing goes down in a straight line and good traders should be able to take advantage of the ups and downs along the way - even if the overall trend is down. Separating my macro view from my short-term trades is something I'm working on doing and I'm implementing some strategies to help me.

EUR/USD daily chart:


I went for a 24km run last night as part of my marathon training - once again, my knees are in bits but not as bad as the last time which is encouraging. I've been having a look and it seems I should be doing some ITB stretching for this so I'm going to check that out.

I always stick on a non-fiction audiobook while I'm running which is a great way to learn a few things for the couple of hours that I'm out.

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