Canadian @ MindSay 
canada
Me, I was tired as hell. For some reason I wasn't sleeping well for a couple of days so by the time I got to the show there was a tremendous haze hanging over my noggin. And, the elevator was broken. So I had to hump all the sound gear down to the basement the hard way. Wasn't ready for that. Thankfully Sandy Robertson was there and we coordinated it nicely.
Sandy is the fellow who booked Bob & Doug while they were here. A long time friend, they also stayed at his home.
But that's all behind us now. The Boys have returned to England as of Thursday.
I must say that what these blokes do, sing/gtr with karaoke backtracks, is pretty amazing. There is an incredible suspension of disbelief that accompanies their shows. People know it's backtracks, but they still love it.
You Guys Rock!
So here we go, Thanksgiving. Some people will be watching football but most surely will take a break from their day to day routine. Me too. I'm not planning anything special, just a quiet dinner. Trading will likely be lukewarm on Wednesday and Thursday, but who knows about Friday? If nothing interesting happens early on, we are in for a boring week. Just as well.
Our website has been updated and can be seen here
http://www.spectrumforex.com/weeklycomments/11182007.html
Last week I continued with trading against the CAD with decent results. Couple of trades in USD-CAD .
CAD-JPY had even better results, as weakness in CAD coincided with JPY strength.
After this run I'm leaving CAD alone. At the moment I have zero clue as to next play here. My focus goes to CHF. In my mind it's due for some correction. Ideally, I'd like to see it undercut the lows of 1.1120 or so from 1995 and then start getting in on upside breakouts on 1H charts. We'll see. Have to run.
Have great Thanksgiving!
Husar.
No, I don't trade based on this kind of foresight, nonetheless I did ask her that just for kicks.
We updated our website. Here is the link.
http://www.spectrumforex.com/weeklycomments/11042007.html
My BUY order from last week in USD-CAD have not been executed since the price just kept falling. I have data going back to early 70's but nothing before. We are at the lowest level within this time frame. I'm quite intrigued by it and visited the website on Bank of Canada to see if I can dig up more data. They have prices going back to 1950 and current price is the lowest ever!(well, for this period of 57 years). This is really something, it's not often that one can trade at historical extremes without a precedence in memory.
The way charts of USD-CAD look , from monthly to hourly, they give virtually no clue were the possible bottom might be. Monthly chart is simply unprecedented, as it is nothing but a straight line down. I opened a LONG position here at the end of the week, looking for about 200 pips and risking about 100. Now, I'm not trying to catch the proverbial “falling knife”, but rather conducting a life experiment in target projection. It's very rare that one can trade in an uncharted territory. Amount of money involved is laughable, no large loss is possible, but position size can be built up, if warrantied. I want to see what happens and nothing teaches better than having some money on the line.
Husar
I wonder how that would pan out in trading? Somebody sitting in a dark room, shuffling tarot cards, gazing at crystal balls and tossing chicken bones? Then calling the shots, dollar this, yen that. Smoke some dope, drink some “shine”. I have her business card, so if anybody is interested, let me know.
Our website has been updated and it can be seen here.
http://www.spectrumforex.com/weeklycomments/10282007.html
I mentioned a USD-CAD trade here last week. That's what happened. I closed most of it at 0.9700 and held a small residual position for the rest of the day on Monday and got out at 0.9806, I think. Not bad.
The fortune teller told me to do the same this week. Since she's so “highly recommended”, what the hell. Long at 0.9652, looking for 0.9700.
Still really dark outside, so I'll go and look at the stars for a while. I have a decent size telescope, time to use it. Reflect on the scary nature of Halloween. The real horror happens on Tuesday, though, day before. That's when I'm turning 40. Thank God I still feel like half that. Otherwise it would be depressing.
Husar.
I don't really get surprised much anymore. In the world of trading, that is. Even if I have some money on the line and it goes against me, I simply shrug it off and move on. This last Friday, however, I was surprised when numbers from Canada were announced. Strong surge in CAD crosses across the board. While they pulled back quite a bit before close for the weekend, nonetheless the move left me largely speechless. I didn't even have a USD-CAD position opened but for some reason this situation bugged me.
I did have a trade there earlier in the week, though, just as described in the last post.
That turned out to be a nice and easy trade. Entry on the open, fairly fast 50+ pips. I'll see if it can be done again.
We updated our website. Here is the link.
http://www.spectrumforex.com/weeklycomments/10212007.html
Trading has been O.K., but without much conviction. My accounts are full of trades like these ones here.
Looks great, doesn't it? Well, in reality it's not. Positions are very small and they lack conviction on my part. I take them because the set ups are good and my methods “make” me enter them, but I'm somewhat blindsided by other crosses. In this example I'd like to see some weakness in GBP-USD. There isn't any so I can't bring myself to commit to serious trades in GBP-JPY. I know that each cross has its own life and I shouldn't be necessarily demanding a correlation. If a correlation happens it's a nice bonus. Lately, however, I couldn't see things this way. Mind funk of sorts.
I'm going to check if USD-CAD is ready for some bounce. I'm doing exactly what I did last week.
The difference this time is that I'm already in a trade, but also seek some 50 pips gain and risk about 20-30 pips.
Husar
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