While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
We were stopped out of the remainder of the AUD/JPY @ 91.00
with a 90.91 low. I chose the correct stop yesterday. Serves me right for micro managing.
I still like the idea of the trade.
I'm friendly to the Aussie and want to continue to sell the Yen on big rallies.
AUD/USD... is holding firm. The upside breakout is a close over 94.25. Then I would expect to see a test of 95 for a start.
96.57 USD/JPY is the 200 day mvg. avg. ( app 103.51 Futures), making this a low risk place to sell the Yen the first time up.
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