Tuesday, November 30, 2010

Trading is difficult sometimes


I hadn't realised that it is nearly 2 months since I commented here, so an update is obviously overdue.

I've found trading over this time to be particularly difficult.  The markets are changing every day, and although I am a fan of Elliott Wave analysis I am having difficulty with establishing the direction that any pair is heading.  Communication with associates seems to support my view, but perhaps we all think that the market is ALWAYS getting harder to understand.

I'm still very bearish on the direction of my favourite pairs - GBPJPY, EURJPY, and AUDUSD - but the frequency of my trading has dropped off considerably.   Now I'm looking for more analysis and research on each decision, which is a double-whammy because I'm working harder and making less trades!

Of course I could look at this as an 'education' thing, as we all need to be learning at all times, but it's a bit frustrating when a lot of due diligence comes up with a worse result.

Meanwhile, the profits are still rolling in, albiet slowly.  I've tweaked my 'method' a few times and more minor adjustments are in the works, but meanwhile, slow and steady small advances is the answer.