Forex Trading Blog 1dec09 - up 0.3% for the day

it was a tougher day to trade as market was a bit choppy

by the time the mojo technical indicators flashed a sell signal around 1.6405 for gbpusd, the pair had already slided down quite a fair bit right before that. so i decided to short on smaller position at 1.6407.

10 minutes into the trade, the pair held up pretty well and eurusd started to rebound strongly (bear in mind eurusd has a positive correlation to gbpusd) so i decided to close my short position for gbpusd around 1.6399 and 1.6404 for a small profit of USD25.

thank god i did cos 10 minutes after i closed my short position, the gbpusd shot up like a rocket.

better have a small profit rather than a loss.

check point : up 0.3% for the 1st day of the month

November month performance was fantastic as the portfolio was up 48.58%, way above my target of 10% per month

Let’s see how the portfolio does in December.

rooney