Took one trade today, a sell on Cable for 31 pips. Definitely one of the quicker trades i've taken, in and out within about 20 minutes. The trade was with the trend and after a high volume up bar followed by No Demand on the 20min chart. As you'll see in the picture I placed my order on the low of the No Demand bar and the market took me in.

Trade 2 - GBP/USD (Cable) - Sell @ 1.5911 - Closed @ 1.5880 = +31

Another quiet enough one today, there was some volume around off the back of a few announcements but there was no confirmation signal No Demand / No Supply to get into a trade. Both Cable and Eddie went short by a significant amount.

A couple of announcements tomorrow as well so we'll see if there is anything viable tomorrow.

Cheers,

KFT

There wasn't a lot of volume today, seems to be the trend for Monday's in general. Having said this I did put an order in at around 11:20 below a No Demand bar. This was triggered by about 11:30 and at one stage I was about 17pips up. As it moved around for a while it was getting closer to the US Advance Retail Sales announcement at 13:30 GMT so i decided to close the trade at break even. Just as well really because the announcement would've stopped me out. As you can see from the picture taken only a few mins ago (12:10) it is now below my entry line and the trend is still down.

 Trade 1 - GBP/USD (Cable) - Sell @ 1.6061 - Closed @ 1.6061 = 0

Looking back, I shouldn't have taken this trade apart from the No Demand entry, it doesn't really fit my strategy. There wasn't u-high volume on the hourly chart so i shouldn't have been looking to sell at that point. Still, that's why i'm paper trading. Need to get those little decisions ironed out before I start in the new year.

Cheers,

KFT

Overall it was a pretty quiet week. The first week since I started paper trading that I didn't actually take any trades. At least it was useful for one thing; a lesson in patience!

I actually missed an opportunity on Ozzie this morning because I got up too late, but apart from that there wasn't a great deal else.

There aren't many news announcements next week either so it'll be interesting to see if it's as quiet as this week was or whether it's going to pick up.

That's all for now,

Cheers,

KFT

See Friday.