Recent Forex Efforts

Since the recent yen cross meltdown started I've been trying to keep
from getting caught on the wrong side of any massive downward moves.As
I generally trade only the AUDJPY, mostly on the long side, things have
been pretty quiet!However, we are now facing some resistance at 74.50
on the 1hr -- which should be illustrative. We have done what might be
a triple bounce off of support in the

Monster Scalps With AUDJPY

I've been shamelessly scalping the AUDJPY this week (via Oanda). It may
be hard to fathom, at least when you see the numbers, but I'm not
entirely happy with my results.Jun 28: 00.28% NAV+Jun 29: 06.65%
NAV+Jun 30: 11.66% NAV+So far this week, if I can hang onto it, I'm up
over 19% on my trading account.Now, you may be wondering why I'm not
satisfied with my trading. Basically, I've made too

Alert: AUDJPY Head And Shoulders?

I've spent most of today scalping the AUDJPY (on the long side).Jumping
up to my 3hr and 4hr charts, as I have two platforms running, I see an
upside down head and shoulders.You may want to take a look at this and
see what you think.

Twitter Forex Tweet Strategy

Have you been following people involved in fx trading on twitter?Have
you noticed how many people are happy to tell you what happened? While
macroeconomic news and previous day post analysis can be useful, it
certainly doesn't help you make a trading decision based on current
charts. I have a little proposal to make.Instead of tweeting that
you've opened a long or short position provide some

Forex Tips - Microtrading

The AUDJPY currency pair is currently trading around the 76.00
mark.Over the last twenty days, from May 7 through May 27, I've been
experimenting with a concept I've been calling microtrading.I don't
intend to close all of my positions at the moment, but if I did my
account NAV would increase by more than 10% over that period.While I
realize that active trading can return spectacular results

Microtrading: Decent Returns?

I blogged about this idea not too long ago. The concept is to use very
small trades relative to your available margin and net asset value
(NAV). I'm doing this with the AUDJPY pair so that when I accumulate
positions I am earning a positive carry trade return.My trade size over
the last week has been such that the margin involved in each trade is
0.2% of my NAV. That's tiny. Twenty five

MT4 EA: Average Position Based Trading

While I don't have any pictures to show, yet, I am working on an EA
that trades AUDJPY based on the market price relative to the average
price of positions held.The first few passes at this type of system
were pitiful. My testing starts from September of last year to now
while only opening long positions. As you can imagine this is a
difficult period of time for a long only system!However, late

Theory: Gridding Microtrades

I've been thinking about grid based strategies designed to take
advantage of volatility without incurring great risk.The idea is that
the strategy be followed using a carry trade pair in the event that you
do inevitably end up holding some positions. You'll want a platform
with a decent spread. Oanda often has about a 3.0 pip spread on the
AUDJPY pair -- my current pair of choice.So, let's

AUDJPY: Tweezer Top?

The market has about 6 minutes to change it's mind.If it doesn't, this
is going to look like a tweezer top on the 1 hour.Now, that would be
something I'd consider bearish (I originally typed bullish).If you read
my last post... you know I'd like that to happen!Now about 4 minutes
left.Zzzz. No market reaction on the hour.Maybe the tails weren't long
enough -- or I'm too impatient?... continuing .

AUDJPY: Short On Failure?

It might be time to think about shorting the AUDJPY.It's coming up to a
recent high and might not have a lot of legs left.If we get a decent
failure there could be a shorting opportunity for some part of this
evening.See (on the 1 hour)?Let's keep an eye on this......
continuing ...Down on the 1 minute chart we seem to have some
resistance to get through before we have the ability to drop:...

AUDJPY: Morning Peek

Well, first, I can't believe I'm awake this early after such a long
night. I need to hone my craft and trade for a living -- I'd be able to
keep better hours.Anyway, this morning we have the follow up to last
nights analysis.We're looking at what appears to be a double bottom
with no idea whether or not we'll reap the technical rewards that they
can offer.Since I slept through the last several

AUDJPY: Look Who's Consolidating

Well, I should be sleeping, but since I'm not I thought I'd take
another look at the charts.Guess what -- it's the same chart but I see
something new!Okay, sure, a bit more time has passed. However, with the
added points I clearly see that we seem to be consolidating.There
should be some money to be made while we bounce around... and then some
money to be made when a direction is chosen.As ever,

AUDJPY: Did We Bounce?

My last blog post, audjpy decision point, talked about an upcoming
decision point. At the moment it looks like we are going to begin an
upward leg.I'm feeling particularly cautious at the moment, especially
since this is only on the 15 minute chart, but I thought I'd post
it.Notice the last candlestick:As I'm long term bullish on AUDJPY let's
hope this is the beginning, or perhaps resumption, of

AUDJPY: Decision Point

I'm looking at the 3HR chart at the moment. We seem to be looking at an
impending strike on a recent support line.If this resistance holds we
might have a technical setup that would allow for a nice gain.Take a
look:See how there was something of a W shape starting in the middle of
the 19th? See how the chart is currently on the second touch down of a
second W? If we bounce off the support line

AUDJPY: Waiting For The Trend To Break

I often think that evening trading goes through a period of doldrums.
It gets boring. Things move slowly, if at all. Ten pips gain or loss
can take an hour or more to happen.Zzzz.At the moment, as you can see
by the chart below, I'm waiting for the current trendlet to break:This
is a 1MIN chart, hence the "trendlet" concept.