Jan 29th Oops Day

My earlier post prior to this....after locking in 80 pips I realise I still had 2 positions open. Hmm... getting sloopy already. Anyway closed out the 2 to get squared. Cos when I do silly things like this forgetting my positioning its a big no no. Ended with 220+ pips. So not too boring afterall LOL It was a 5 lot postion that was still running. But nevertheless still a slap on the hand for being sloopy.

Must change mental approach..

With the markets not really trending so directional moves are limited to 100+ pips with little follow through, I put on relative value hedged positions and sitting on +60 pips locked in. Must snap out of this mentality and just wait. It gets boring for me playing delta neutral positions. Think will build a postion on a particlar ccy and wait. OOpps got one more hedged position still lingering with positive float. Think will just lock that in to keep 80 pips. man! this is boring!!!

Jan 28th

Just went squared. Closed out eurgbp short at 0.9263 for +85pips Closed eur long initiated today at 1.3263. For a tiny 22 pips. Must be getting nervous or something. My sense was not to hold anything into the FOMC decision. Maybe my expectations of surprised volatility may come to fruition. Better follow my gut and keep some $.

Surprises in the markets..

Am expecting surprises that the market will challenge traders with these next 2 weeks. Whats obvious may just turn on a dime. Its obvious that there's some "fight" or tussle in the direction of most ccy pairs. Thats why there's a lack of convicted follow through. Which side will win over... thats left to be seen. Example : out of the blue the ifo number came in better. Where did that curve ball come from ? Is it believeable ??? It now appears nothing is believeable LOL One thing is for sure.. the swings in price will get a bit more volatile. How am I positioned... well am short eurgbp . Its the only comfortable trade I feel for myself. Would love to see how the "private groups", "elite groups" of traders quided by a mentor and method perform this year. Just a curiosity -)) Their calls are so "secret" that it is not shared LOL Well more hogwash for wannabes to gravitate to. Such is the nature of man. Its been a traders market and not so heavenly for position takers. Guess trend followers have to really prove themselves this year.

resetting my charts....

Last few days been getting the sense that "oversold" may be the order of the day. Today's action seems to somewhat add to that suspicion. basically what has been down could be exhausted and what has been up could also be exhausted. So re setting my charts to switch to the potential direction. The move in the eur and gbp is encouraging from that view. But the angle of ascent is steep and so am waiting to see price action on a retracement. The Yen is still strong and in a broad range . A passenger ccy relative to crosses. So will spend as little attention to $Jpy as possible. The $Cad retreat is most impressive ... straight play I find is not as attractive as the cadjpy cross. Am sitting back and waiting my time for set-ups in line with potential diretional change. If it is then it would be good plays in terms of pip potentials. But if not then downside target would be only fractionally as attractive. Either way lets see what the market will show these 2 weeks.