What to trade
I’m patiently waiting for the USDCAD to continue it’s downward spiral, I’m happy enough to wait. There’s a good chance it may still go up beyond the 23.6 retracement, I’m hopeful it doesn’t for my ATC chances.
I’ve looked at some other pairs to trade and have today opened a couple of small positions on EURJPY to see how I go trading some of the currencies other than the USDCAD, the first one I opened near the top of a very short term trend and backed out of for a tiny profit, then I opened another a bit later close to the top of another short term trend, I’ve held it for a while now and it’s in a little bit of profit. I will look for some troughs to open any future positions.
I’ve had a book for a quite a while now that I’ve been making pretty slow work of, it’s called An Arbitrage Guide to Financial Markets, and I have to say it’s really good, the fixed income stuff is pretty slow going (not particularly exciting either), though it is a very good learning experience.
Filed by Popeye at November 14th, 2007 under Finance, FOREX, Trading