October 13th NZD/USD TRADE

Hello Forex Traders,

We had 1 trade yesterday with the AUD/USD it was a 6 pip loser.

Very light trading week for us. The things early in the week didn't seem to fall into place. But as I have said before I would rather trade little than have a lot of losing trades. So we can capture good action when the markets are in our favor.
The markets will always be there no need to force it.

I mentioned yesterday as well that I went short the NZD/USD. Based on the daily chart it looks like it could fall 100 + pips and the risk was only in the 30-40 pip range so it was very good risk reward. My fill was .6607 the key is not to get a daily close above .6620 and I think it is pretty safe trade as long as that doesn't happen. I have my stop higher then that in case of a run that way etc.. I am looking for about .6470ish on it. It is in profit some already this morning we will see how it goes. I may consider a breakeven stop once it gets down to .6550 I'll keep you posted though.

We don't have LazyTrading.com trades on Fridays so nothing to report on that.

I hope you have a great trading day and great weekend.

I'll be back here Lord willing on Monday.

Take care
Steve Hoven
alleycatnews@alleycatnews.net

FYI if you are into stocks I should have my 3rd StockDoubling.com pick out early next week.
www.StockDoubling.com if interested, it is free.