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I purchased Rob Booker's Adventures of a Currency Trader a couple of weeks ago from Amazon. The book tells the story of our hero, Harry Banes on his quest to become a successful Currency trader. We follow Harry from his first adventures thinking that it's an easy endeavour and losing all (well, most) of his money to him, becoming successful and making money consistently.
The book is a work of fiction and attempts to draw parallels between the reader (if they have dabbled in the markets an
December 7, 2007
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I was out for a company function today and didn't get a chance to trade. I looked back at the charts and there would have been a good entry at 149775 or so as it broke above the previous intraday high. The stochastics also crossed which would have confirmed the entry.
I probably would have taken the price action to below 150500 or so which would have been some nice profit.
Well, I say that but I wasn't around today!!!
Anyway, here's the chart
December 7, 2007
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I came back home to find that the market had already moved quite a bit into positive territory when I got home. Ideally, one would look to buy at any dip.
Anyway, in the 5 min charts, there was an opportunity to short the market here, the price action looked like it had made a short term high and stochastics were looking to turn. I shorted as it moved below 148500 at 148475. As I was trading against the main trend of the day, I was extra cautious and want to get out at the first level which I
December 5, 2007
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