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GBP.

The mob always knows when someone is cheating. They win too often.

"It was the best of times. It was the worst of times." --Charles Dickens

I've noticed more and more that trading is about conserving mental energy. And keeping a quiet mind so I can notice the shifts in momentum when they occur. And always being like a detective, keeping an open mind and building evidence. You want to be the guy noticing others getting run over after...

It's a lot like surfing. You just gotta deal with a lack of waves, not get bummed out. Try to do something else like work on your ride or make some cash on the side till it changes.

The "C" moves are interesting. ACD has opened a new way. I would see those moves before but not know what to do with them. But when you see those fail too it's probably just time to pack it in and avoid overtrading.

There's not much momentum to speak of. I'm wary of pressing under these conditions. I did go long GBP around 121.85 after the London open around 330 am. It was really sluggish and I almost dumped it as it wasn't moving with time. But it finally came around and I dumped at 122.15 and really...

USD all of a sudden not such a sure thing. Actually, it traded really well right out of the gate Jan 2. That lasted about a half hour and it really hasn't been right since.

Today's letter is C.

GBP can't seem to find a bottom. And I don't seem to hear a lot of chatter now. I'm out after catching the break of 1.21 waiting for a retrace back there. May not get it, but that's ok too.

Quiet is good. Unless it's too quiet. Or it's the calm before the storm. Haha Traders are always restless.

Here's your dollar coming back.

Yes but at least I'm not overtrading.

Out. Saw the Aussie break up right out of the gate, thought the others might follow. Plus I thought we'd get weakness in EUR as a follow through from Friday. When it didn't, I felt USD might weaken a bit. Not so far, and Aussie just barely holding up.

I'm short USD here against Jpy, GBP, and Aussie. I'll explain later

I remember getting stopped out of that trade, right before it fell hard. Friday's action suggests more bearishness ahead on Aud. Still watching EUR vs Aud to see which is weaker on a daily basis. I've learned the hard way that shorting the stronger one, usually Aud lately, just doesn't work well.

Generally my instinct says stay away or treat it like a news release. The markets seem to have a Trump premium to them now. So it may be similar to "Buy on the rumor, sell on the news." Unless they sell off first, before the inauguration. It's just another day, and it's sort of old news, and...

Just checked out USD index thread. Need to resurrect that thang. Like they say, if you want something done right, gotta do it yourself. Haha. I really enjoy this thread. When I start thinking I know something about the markets, I come here and read. Brings humility. Which really has never been...

I guess another way to say that would be that I don't think trailing stops are a good idea in currencies. There's just too much noise. You need to see momentum. When the momentum stops, you're usually better off just taking what the market has given you and then give it some time to make up its...