The markets have been looking rather choppy lately and have been rather difficult to trade. Anyway, last night the only market which looked relatively clean and non erratic was the AUD/NZD chart. I went long at 1.2600 and got out at 1.2660 for +60 pips which isn’t a bad result considering the markets currently.

The stochastics action looked clean and the short term price action looked ripe for some movement up. There was some previous resistance (as you can see from the chart) at the take profit levels and hence my rationale for closing.

I haven’t posted for a wee while and the reason being was that my mind was completely preoccupied with some other things of which I won’t bore you with. I have thought about my trading however and have been frustrated how difficult it just is. I have been attempting to trade the markets for what seems like ages yet still, I don’t seem any closer to cracking it. There are times of brilliance and times of sheer despair and frustration…. for those who have been following my blog, you’ll note that I had joined a trading academy. Unfortunately, things didn’t work out with those guys, they unexpected terminated my account and still demand payment.. I hadn’t even got the professional training which they talked about so I’m in dispute with them currently.

I have been on a few courses also and it’s about finding the time (I only have evenings to play with due to my 9-to-5 job). It would be good if I were at the stage where I could just trade but alas, I’m not at that stage as yet.

This blog generates money however through sponsorship and advertising and actually covers my trading losses (except for the monies that the trading academy are screwing me for).

Anyway, I did trade today, a short on the DOW at 11389 and got +18.

I got today off so woke up early at 6.45am to log into Simon Grinter’s chatroom. If you are able to listen, he offers a real time commentary on the markets and lets you know of the trades he is taking.

Today, one of his entries was a short below 107.80 and I took it! I rode the price action 30 points!! Hoorah! The market did go a lot lower however but a profit is a profit!

If you want to join or sign up for his free trial, visit http://www.rainbowforex.com/