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Certainly smells like a reversal, but I'm trading small.

Got out at 1.3410, then shorted AUD at .7506, Nzd near it's lows. Got out with barely my skin intact. Now short Usdcad at 1.0833, usdjpy at 111.20.

I'm a little nervous because the Pound just dropped like a rock as I expected. Kind of fast. Going to stay short for now. No telling where it's going to bottom.

Nzd breaking down

Still don't see any signs of panic selling and capitulation anywhere. That would be a sign to get out.

Usdjpy now clinging to 111 even. Continues to slowly March higher.

Short gbp from 1.3473. Trading pretty much lock step with Eur, I just thought the chart looked like it was about to break hard. Aussie up, still looking for a reversal in EURAUD and GBP AUD. Obviously nothing yet.

First straws in the wind of a market top.

In professional sports, one of the key factors in winning besides having better players is the ability to capitalize on mistakes made by the other team. Same in trading. The equity markets are full of mistakes, the ones in currencies can be epic.

The new urban myth seems to be there's lots of above average PhD's running around with above average computers taking all the money out of the markets.

As far as I know, no computer can do inferential thinking at anywhere near the level of a human. There's still herd behavior, which when it turns lead to the best trades. Most recently there were historic levels of long Euro contracts held by specs going into April. Fear and greed, fear and...

Euro trading action-- price lost momentum at the end of the week. Looking at the longer TF we are in support area, so my thinking at this point is we get more of a back and forth that will probably be harder to trade. Counter trend.

Looking at Aussie, especially the weekly. There's a pennant at the bottom of a huge trading range. Last week was really compressed, so we are definitely in breakout mode. Tried shorting it several times, only once was profitable on the move to .7490. I'm on the lookout for a short move up to...

To notice that something has changed, then have the courage to act upon it. Or, even better, that something is about to change. . .

Oh, you said trading. Sorry.

If the masters of the Universe declared that there would be no more money available tomorrow, everyone would line up to get their money. That's all I really need to know to make money.

It's all about making good decisions. Buy something which is going up, sell something which is going down, get off when it stops. If you can't do that, then you have issues, and I can't help you with that. For that you need professional help. Or a twelve step type program. Except you'll probably...

You might want to stop trading. You're just going to project current issues. The definition of insanity is doing the same things over and over and expecting different results. You need to get honest with yourself. Don't trade, enjoy your life first. Your initial resistance to this statement...

The behavior exhibited by SD happens on a micro level every day across all markets.